Home Buying in Miami>Question Details

Abergyy, Home Buyer in Miami, FL

I have 100K to put down, but my goal is to minimize mortgage payment so I am looking at purchasing a home in the low 200K range. Any recommendations?

Asked by Abergyy, Miami, FL Wed Aug 15, 2012

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Definitely, the first step is making sure you qualify for a mortgage. Most important aspect you should be very aware of, are the interest rate, the closing costs, and specially the lender fees (underwriting & processing). Contact a reputable lender, and let them be thoroughly analized: Credit, Income/Employment, Assets and Collateral (Type of property and Type of Occupancy).
Good Luck
1 vote Thank Flag Link Fri Jan 18, 2013
PLEASE CONSIDER USING THE SERVICES OF LINDA ROMAELLE. SHE IS A VERY COMPETENT AND HELPFUL FOR ALL YOUR FINANCING NEEDS. I HIGHLY RECOMMEND HER.

Linda Romaelle | Loan Officer |NMLS# 351350 | Mortgage Banking | 9501 West Flagler Street | Miami, Fl. 33174 | Office: (305) 551-1014 | linda.romaelle@chase.com | Efax: (855) 543-2956 | Office Hours: 9:00 a.m. to 5:00 p.m.

BELOW HERE IS A MESSAGE FROM LINDA.
Greetings to all:

We will be holding a “Mortgage Day” at Chase on January 22, 2013 (Tuesday).
Please reach out to all your clients, realtors, friends and family.
The event will be held at 95th and Flagler Branch.
Let’s take advantage of this wonderful event and educate, engage, and create new possibilities for 2013.
Thank you for all your support.
0 votes Thank Flag Link Sat Jan 12, 2013
Please get in touch with Robert Franco at 954 213-0030. He is very qualified Home Mortgage Consultant who would recommend the best options for you. Good luck with your purchase!
0 votes Thank Flag Link Wed Aug 15, 2012
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Abergyy,

You want good advice from a Mortgage Broker who knows a lot more than others ?

Okay, here is what I would consider doing:

Since rates are so low, and while interest can still be a good tax deduction (Unless Obama's failed policies eliminate that too), put 20% down on the purchase.

Then take the remainder amount and pay off all other Non Tax Deductible debt, cars, boats, credit cards, etc.

If no other debt to pay off, instead of sinking that money into Dead Equity, diversify and fully fund all Roth or Regular IRAs, Annuities and other retirement plans.


Steve McRory
Pro Option Mortgage/ Florida
steve@pro-option.com
http://WWW.PRO-OPTION.COM
Ph: 888 662 4404
0 votes Thank Flag Link Wed Aug 15, 2012
Great idea. I just to remind you also that interest rate make a lot in mortgage payments. If you need my help, more advise when you call me 305 519-3199
0 votes Thank Flag Link Wed Aug 15, 2012
Hello,

putting down a large downpayment on a home, will most definitely give you a lower monthly mortgage payment. Another benefit would also be, not having to pay any Mortgage Insurance.

You should first contact a lender in regards a mortgage loan pre-approval. With a pre-approval letter in hand you can start your shopping for homes - real estate agents and sellers will take you much more seriously when they see you have your mortgage funding in place.

If there is anything I can do to pre-approve you for the homes of your dreams, please feel free to contact me at your earliest convenience.

Best Regards,

Beate Rodriguez
Lic. Loan Originator
NMLS# 299244

Beate.Rodriguez@HGFLoans.com
Cell: 954.695.4849
0 votes Thank Flag Link Wed Aug 15, 2012
My questions to help you well 7 efficiently are alyways the same to every buyer prospect I meet and they are:
1) Where do you want to live?
2) What type of home are looking for? A Single Family detached? or Fee Simple Lot & Block Townhome? or a Condo?
3) Have you talked to a direct, reputable lender about your financing? And what are they telling you?
4) How many bedrooms and baths do you need?
5) Are there any other features of a home that are important to you to have?
6) Are you currently renting now or do you own your own home?
7) If you're renting, whe will your current lease end? And are you prepared to leave early if you find the right home say today?
8) If you own your home do you have to sell first to buy or can you qualify for 2 mortgages?
9) How soon do you need to make this move?
10) Are you available to set an appontment this week? And if so what day, Thursday or Friday?
0 votes Thank Flag Link Wed Aug 15, 2012
Good Morning!

If "home" stands for "house" then you'll have to look more in the suburban areas, if you consider a condo, you can find something in that price range almost anywhere (depending on size).

Inventory is still low, so be prepared to act fast. Oftentimes, homes that are listed in the morning are gone in the evening. Working with a good local realtor is really crucial, so you get your daily updates on what is available on the market.

If you are looking in SW Dade, I would be happy to assist you.

Kind regards,
Ania Lenzholzer
Coldwell Banker Real Estate
Call/Text: 786-365-6722
ania@biscaynebay-realestate.com
0 votes Thank Flag Link Wed Aug 15, 2012
Hello,

There are a few factors that will determine your available options, location, and type of property are a couple of them.

Now you can find great homes in very nice areas for excellent prices. If you would like a listing of the available properties, don't hesitate to call me.

Good luck on your new purchase.

Ailed Alzugaray
Miami New Realty
(305)439-9977
http://www.aamiamiproperties.com
0 votes Thank Flag Link Wed Aug 15, 2012
Hi,
Yes, find a local realtor in the area of interest.
If you are looking in the western suburbs such as Kendall you should be able to find plenty of options. If you are looking further east toward the beaches you budget will not suffice.
There are many options in the middle range, it is just a matter of having a competent realtor guide you and keep you updated daily with a search proram that will find the homes as they come on the market.

Best of luck,
Beth Jenkins
South Fl. Brokers
786-374-4778
bethjenk1@gmail.com
Web Reference: http://www.arealtyteam.com
0 votes Thank Flag Link Wed Aug 15, 2012
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