Home Buying in Miami>Question Details

Al, Home Buyer in Miami, FL

I wanna buy a house ?.

Asked by Al, Miami, FL Tue Jul 3, 2012

I wanna buy a house and I have a job for more than 11 yrs.my income is 54,000 without OT. 2 c/c,1 of then w $500 debt and the other one w 1100.00 of 5000. Recently I bought a car w a monthly payment of 460.00.Any chance 2 buy w/o any downpayment and 0 closing cost.

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12
Don Tepper’s answer
No chance.

Check with a loan officer to confirm that. But--no downpayment, no closing costs, and car payments of $460? And the grammar police would advise you that it's "want to," not "wanna."
1 vote Thank Flag Link Tue Jul 3, 2012
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
Contact
Not gonna happen in the Miami area, unless you have grandfather financing!
0 votes Thank Flag Link Sat Jul 7, 2012
Good morning Al,
Yes. There are many programs available to help you qualify with a Lender and buy a home with little to no money down. A credit check will have to be performed to see what Loan Programs are available for you. Al you will have to provide some documentation to help you qualify with my Preferred Lenders who know the specific Loan Programs you are interested in. If you would like to get started contact me directly at (786) 281-1570.

Thank you.

Suzan Clough, Realtor Associate
(786) 281-1570
SuzanCloughRE@gmail.com
Homeownership Realty
0 votes Thank Flag Link Sat Jul 7, 2012
Hello there are downpayment assistance programs that maybe avaliable to you. Also by speaking with a loan officer and doing a credit check you maybe elgible for FHA financing that allows 3.5% of a downpayment on the purchase price. Also there are some deals out there where the seller can pay up to 6% of the closing costs. What price range are you looking in. At my office we have in house loan officers who can give you a better picture of what you can afford and what is your currebt credit standing. I can help you find your home, so contact me at the info below and we can discuss.


Thank you,
Tamika Moses
Keller Williams Realty Partners Realty
954-404-4646
tmrealtor@yahoo.com
0 votes Thank Flag Link Wed Jul 4, 2012
Tamika Moses, Agent, South Florida, FL

Hello Al I just wanted to know ifyou needed an help you can contact me at the info below.

Thank you,
Tamika Moses
Keller Williams Realty Partners SW
954-404-4646
0 votes Thank Flag Link Wed Jul 4, 2012
Hello Al,

VA loans and USDA rural development loans are the only loan products that offer 0 % downpayment.

FHA has a 3 % downpayment requirement and offers a 6 % seller contribution toward closing costs.

Please contact me at your earliest convenience regarding a mortgage loan pre-approval, if I be of any service to you.

Best Regards,
Beate Rodriguez
Lic. Loan Originator
NMLS# 299244

Beate.Rodriguez@HGFLoans.com
Cell: 954.695.4849
0 votes Thank Flag Link Wed Jul 4, 2012
Hi Al
As the other agent mentioned you could qualify for a loan, talk to your bank and see what your options are.
Let me know if you need additional help.

Best,
Sophie Bamps
Engel & Voelkers
(305)206-8867
sophie.bamps@engelvoelkers.com
0 votes Thank Flag Link Wed Jul 4, 2012
With your income, you are going to qualify for a Residential Loan, the situation is your credit score. Need help 305 519-3199
0 votes Thank Flag Link Wed Jul 4, 2012
Hello Al I just wanted to know ifyou needed an help you can contact me at the info below.

Thank you,
Tamika Moses
Keller Williams Realty Partners SW
954-404-4646
0 votes Thank Flag Link Tue Jul 3, 2012
with your income and as long as you have 640 FICO score, you may be able to get up to $7,500 from the State of Florida Bond Program. Go here and select an "approved" lender and they can tell you if you qualify and what your maximum purchase price is. Sorry you bought a car because that will probably force you to live in a much lower priced home. Sad to say...

http://apps.floridahousing.org/StandAlone/FTHBWizard/FTHBWiz…
0 votes Thank Flag Link Tue Jul 3, 2012
Hi Al,
In this market, the only true 100% programs left for purchases are Veterans Affairs loans (must be a vet or active duty) or the USDA rural development loan which has geographic restrictions (must be a rural area).

After that, the lowest down loan, as previously stated, is FHA with a 3.5% down. However, they do allow seller concessions up to 6%, and FHA allows you to use Down Payment Assistance programs.
American Bank, FSB, teams up with the FHLB (Federal Home Loan Bank) with a first time buyer DPA up to 5 K for down payment or closing costs. You need to have 500 dollars minimum in the deal, and there are income qualifications too. (http://corp.fhlbatl.com/CommunityInvestment.aspx?id=2672). This program can be used with FHA, VA or agency loans (Fannie or Freddie).
We offer free, no obligation analyses of your situation and can have you pre-qualified within minutes. You can see your monthly payments and how much house you can comfortably afford.
Best wishes, Jim, American Bank, 703 615 4675
0 votes Thank Flag Link Tue Jul 3, 2012
Hello there are downpayment assistance programs that maybe avaliable to you. Also by speaking with a loan officer and doing a credit check you maybe elgible for FHA financing that allows 3.5% of a downpayment on the purchase price. Also there are some deals out there where the seller can pay up to 6% of the closing costs. What price range are you looking in. At my office we have in house loan officers who can give you a better picture of what you can afford and what is your currebt credit standing. I can help you find your home, so contact me at the info below and we can discuss.


Thank you,
Tamika Moses
Keller Williams Realty Partners Realty
954-404-4646
tmrealtor@yahoo.com
0 votes Thank Flag Link Tue Jul 3, 2012
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