Home Buying in 33012>Question Details

Cinthya Mart…, Home Buyer in Hialeah, FL

First time home buyer help.

Asked by Cinthya Martinez, Hialeah, FL Sun May 6, 2012

I am interested in a townhouse in Hialeah or miamilakes area, I am looking for it to be a three bed and two bathroom. Since this is my first time purchasing a home I don't know what to expect, what kind of down payment I would have to give and how my credit score should be to obtain a good monthly mortgage, please help '

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The first thing I would do is call a local mortgage person or click on the find a pro tab at the top. They will be able to help you get pre-approved for a mortgage. Ask friends, family, or co-workers for a referral of a good mortgage rep
0 votes Thank Flag Link Tue Mar 5, 2013
Click on this thread to see a list of loan programs:

http://www.trulia.com/blog/steve_31/2012/05/mortgage_brokers…

Also, I can help you with obtaining Down Payment Assistance as well as have closing costs paid for you.

http://www.pro-option.com
0 votes Thank Flag Link Tue Jun 5, 2012
Hello Cinthya,

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
305-747-9609
LuisSellsFla@aol.com
0 votes Thank Flag Link Sat May 12, 2012
Hi Cinthya,

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 etc…

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.

Good Luck.
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0 votes Thank Flag Link Mon May 7, 2012
Cinthya:
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".

Tony Vega
Charles Rutenberg Realty
0 votes Thank Flag Link Sun May 6, 2012
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