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How large a down-payment should first time homebuyers expect to put down?

Asked by Trulia Fort Lauderdale, Fort Lauderdale, FL Wed Nov 21, 2012

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If you are purchasing your first home in Fort Lauderdale and it will be a single family home, you can typically expect to put down as little as 3.5% on an FHA loan.

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
JablonTeam@gmail.com
561-213-6139
http://www.JablonTeam.com
0 votes Thank Flag Link Wed Nov 21, 2012
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3% down and no PMI for qualified buyers unless you want to live out in the sticks and then no money down on a USDA loan

See programs here. http://www.pro-option.com

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0 votes Thank Flag Link Sun Dec 9, 2012
Trulia,
Do you lack the funds to buy a home? Ideally, you should have 100% down-payment in this market environment to get the best deal.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Sun Dec 9, 2012
The more, the better! In today's market, financing homebuyers in the Miami/Fort Lauderdale area will have to put down a substantial amount of money in order to compete with cash buyers.

The market in the area is hot!

Ania Lenzholzer
Coldwell Banker Residential
0 votes Thank Flag Link Thu Nov 22, 2012
Trulia-initiated question.
0 votes Thank Flag Link Thu Nov 22, 2012
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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.
0 votes Thank Flag Link Wed Nov 21, 2012
Of course it depends on many factors such as credit score, income, and even location! Lee and Collier counties have a real advantage over other areas of Florida, why? Because 100% financing is available through MarketWatchRealEstate.com and our lender partner.

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
(239) 645-3798

Broker-Owner
MarketWatchRealEstate.com
4301 Veronica Shoemaker Blvd
Fort Myers, FL 33916
Facebook.com/HopehomesUSA
http://MarketWatchRealEstate.com
0 votes Thank Flag Link Wed Nov 21, 2012
Hello ,
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.

Thank you,
Tamika Moses
Keller Williams Realty Partners SW
954-404-4646
tmrealtor@yahoo.com

http://flapropertiesbytmoses.kwrealty.com/
0 votes Thank Flag Link Wed Nov 21, 2012
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