Laranjamia, Home Buyer in Port Saint Lucie, FL

what is the down payment?

Asked by Laranjamia, Port Saint Lucie, FL Tue Jul 10, 2012

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the amount of the required downpayment is determined by the LOAN PROGRAM you qualify for.

Please feel free to contact me at your earliest convenience, to discuss a variety of loan programs available to you, if I may be of any service to you.

Best Regards,

Beate Rodriguez
Lic. Loan Originator
NMLS# 299244
Cell: 954.695.4849
0 votes Thank Flag Link Tue Jul 10, 2012
when I see a question like that from a potential buyer I always wonder why the question is posted here. If you were working with one trusted Realtor a Buyers agent representing you, you would have that source for answers to all your questions, and guidance to many other sources at the tip of your fingers at any time.... Read on and may be it explains it a little better...
Do not buy a home without the guidance, expertise and local market experience of a Realtor, a buyers agent!!!!''

I am not a Real Estate Broker from your area of interest, but when I see a question like yours, then I always wonder why a Buyer anywhere is not working with an experienced local Realtor, a Buyers Agent, one who will work on behalf and in the very BEST interest of the Buyer, not only finding the properties, showing them, but also getting the Buyers pre-approved by a lender, so that they will buy within their limits and comfort zone, but there are so many details to pay attention to like the various terms of the offer, negotiations with the Seller, earnest moneys, inspection, appraisal issues, walk thru, estimates for repairs, market analysis for a property so that it will be a competitive offer and sooooo much more.

Buyers Agents are usually if the property is listed on the multiple listing services i.e. listed by a real estate company/brokerage paid by the Seller's side at the closing out of the Seller's proceeds, i.e.
the Buyers Agents services are free to you the Buyer, but your commitment and loyalty to one Buyers Agent will be required....

Give this some thought, as the questions you asked are concerned, your Buyers Agent will be able to get you all the answers, and more than that also what the assessments cover, as this is different for each condo, pets allowed or not etc. etc.

Sincerely yours,
Edith YourRealtor4Life & Chicago and Northern Illinois Expert
Working always in the very BEST interest of her clients, Buyers, Sellers and Investors alike....
Covering for @Properties the city of Chicago, all N and NW suburbs, the fine homes on the
North Shore, and many of the W and SW suburbs, and with her trusted Partner Agents all of
the US and worldwide properties. Edith speaks French, German, some Spanish and other.....
@Properties, 30 Green Bay Rd, Winnetka, Illinois 60093 ---- or Check out my website at htttp://
get to know me better and learn about my experience, expertise, services available and letters of recommendation of former clients..... Also you can sign up on my site to search for properties in my expanded service area. HAVE THE MOST WONDERFUL DAY :)
0 votes Thank Flag Link Tue Jul 10, 2012
Your best course of action is to contact a local mortgage broker (possibly more than one) to find out what you can qualify for and what their down payment requirements are. There may be certain programs available through some of the banks that could help you with down payment assistance. You will need to do your homework and find out what you can qualify for.
Web Reference:
0 votes Thank Flag Link Tue Jul 10, 2012

If you were to qualify for an FHA loan (3.5% Down) the down payment would be around $3,500. Remember the sale of the home is contingent upon your lenders appraisal and inspection.
If you do include a 6% closing assistance the appraisal will have to appraise for that amount.

If you have any questions please feel free to give me a call.

Best Regards,

Teran Gilmette
Branca Realty, LLC.
Cell: (772) 204-5077
0 votes Thank Flag Link Tue Jul 10, 2012
If you go with a FHA loan it requires a 3.5% down payment which would be $3430.
0 votes Thank Flag Link Tue Jul 10, 2012
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