However, if your first home is going to be a condominium in Fort Lauderdale, then you should expect, on almost any condo, to put down 20% or more.
In order to ascertain what you can comfortably afford and to get an idea of current interest rates, you may want to call a Preston Ware, a very reliable mortgage broker, at 561-329-0075 or visit his site at PrestonWare.com. You will need a pre-approval letter from your mortgage broker before you start to look for homes.
Marc Jablon, the Jablon Team
RE/MAX Complete Solutions
The market in the area is hot!
Coldwell Banker Residential
Qualified borrowers can literally buy a home with NO money out of pocket with the cost of an appraisal put on a credit and first payment not due until almost two months after closing!!
See program at. http://www.pro-option.com.
Lenders can do FHA financing with 3.5% down or in more rural areas, there is a USDA backed mortgage with 100% financing. Talk to a lender to find out your best options.
Neil G. Blair-Bennett
4301 Veronica Shoemaker Blvd
Fort Myers, FL 33916
It all depends if you are doing FHA or conventional financing. If you are doing FHA 3.5% of the purchase price ie needed for the downpayment. If conventional you will need at least 20% to put down. If you need further help I have a wonderful loan officer who I work with that will help you with all of your financing needs.
Keller Williams Realty Partners SW