Home Buying in Miami Shores>Question Details

johnny.renes…, Home Buyer in Biscayne Park, FL

it me who want to buy a home with 1300 dolar from social security can i aford it

Asked by johnny.renesca001, Biscayne Park, FL Sat Jan 28, 2012

Help the community by answering this question:


There are some great programs out there for you!
I highly recommend Infill Program.
Please read Infill Program requirements - there are many houses that are new that you'll be able to buy if you have 1% downpayment (1% of the purchase price).
Miami Dade county will help you get the house and give grants and discounted loans to make it happen for you!

Good luck!

Irina Karan
Beachfront Realty, Inc.
0 votes Thank Flag Link Mon Apr 2, 2012
A lot will depend on what you're trying to buy as well. If you want to buy a condo, make sure you ask the mortgage officer for a "CONVENTIONAL" mortgage, as FHA condos are a rare commodity these days.
0 votes Thank Flag Link Sat Jan 28, 2012
I agree with Wayne below and want to add that having Social Security "fixed income" is seen as a positive in your aplication. So don't be discouraged. In the Miami area you can contact mortgage broker Jose Morales at 561-432-9237 and he will explain to you how much home you may afford to purchase.

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Tony Vega
Charles Rutenberg Realty
0 votes Thank Flag Link Sat Jan 28, 2012

Answering whether or not you can afford a home will be based on a great number of factors: your monthly debt obligation (credit card payments, loan payments, proposed mortgage payment, etc.), your monthly income, your credit history and credit score, etc. Without that information available, as well as the proposed purchase price of a home and the interest rate, no one here will be able to answer that question for you. Best to call a local mortgage lender/broker to discuss your financial position and go from there.

Good luck!
0 votes Thank Flag Link Sat Jan 28, 2012
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