Very easy process indeed as long as you are guided by a knowledgeable real estate professional. Your first order of business should be to obtain a pre-approval mortgage letter, after which consulting with a mortgage broker they will show you the many programs that can benefit you for the your home purchase. I would be more than happy to assist you with any concerns you have or that may arise in the future. Congratulations and good luck.
Luis A. Hernandez, Realtor-Associate
First Service Realty
Congrats on your decision to buy your own home. The process is not that complicated if you take the right steps. The first step is to contact a professional who can guide you through the process at every step. The next thing to do is to find out how much you are comfortable paying each month and then pairing that amount to how much you can afford. Next, thing would be to find a home. Once you find a home then the real work begins.
Basics: Minimum credit score 640 minimum down payment 3.5 % FHA Closing cost will be about 2.5% of the purchase price and 2% for misc fees and etcâ€¦
If you use the link below I have useful reports for First Time Buyers.
I specialize in the Hialeah/Miami Lakes area and I am a Florida Housing first time buyer program preferred Realtor.
If you would like to contact me to discuss you situation in detail feel free to reach me at StephanieLeon@avantiway.
That is why your first step should be to speak to a mortgage lender about getting pre-approved. They will tell you what programs you qualify for and how much money you can actually get. Once you know how much home you can buy, then you get an agent from the zipcode you want to show you home below that price and help you make an offer.
Based on your loan program will be how much you need to have for closing cost and for downpayment. Plan to have at least $1,000 up front for the escrow deposit the moment you make the offer. Was this answer helpful? If so please click on the "thumbs up" or the "best answer".
Charles Rutenberg Realty