In most locations it is now cheaper to buy than to rent. If you have the down payment and can quality for a mortgage I recommend buying. Interest rates and home prices are still at historic lows. You may not get this opportunity again any time soon!... more
Do you know what your challenges are? I ask because many Buyers make assumptions, thereby disqualifying "themselves." Unless you have made application and have been declined, I strongly suggest you speak with a lender. If you have been declined, you should have a reason and from there given ways to improve whatever the problem may be.
Answering your question...If a lender won't touch you, there are only two options - cash or seller financing. If doing seller financing, make sure the terms are in line with what you can afford. The last thing you want to do is strap a bomb to your chest! All means considered ("means" you will investigate) it may be best to wait until you can qualify for a loan of your own.
Good luck, and please be "very" careful should you choose seller financing!... more
To qualify for a traditional loan, you are going to need a minimum credit score in the 620 - 640 range though most require 680. USDA loans with a credit score of less than 580 are denied if you have been late on any payments. (Reference: http://www.rurdev.usda.gov/SupportDocuments/CA-SFH-GRHUnderwritingGuide.pdf)
There are other loan programs out there that may accept less. One of these is FHA. FHA's website states: "Minimum credit score requirements for FHA home loans depend on which FHA loan product the applicant needs. Generally speaking, to get maximum financing on typical new home purchases, applicants should have a credit score of 580 or better. Those with credit scores between 500 and 579 are, according the the FHA guidelines, 'limited to 90 percent LTV'." (Reference: http://www.fha.com/fha_article.cfm?id=200.)... more
If it's a larger populated city check the UCR. The FBI handles it and departments report them directly yearly. There is no more accurate report. Whatever numbers are listed comes directly from the administration of police departments.... more
First off, thank you so much for serving!!! I'm not in Florida but would ask the same if you were moving here... do you have anyone locally to where you want to live that knows you well enough and you trust enough to start searching and eliminating homes for you? That would help and would be a great way to get started a little earlier. If not, you still should do this anyway and that is make contact with a good local Winter Haven Realtor that can best answer your questions and start the ball rolling for you prior to your arrival back in the states. That agent can also start helping you get pre-qualified for a mortgage unless you are planning to use cash. Hopefully a local Realtor to you will also see this post and since obviously you have internet access, you can search online for Realty companies in Winter Haven and contact a few via email. Try and ask for someone who is familiar with VA loans and may specialize in working with members of the military. I would start this process 30-45 days before you are scheduled to be home. Speaking of VA loans, you should start to request you VA eligibility papers NOW !! They are not the fastest group of people in the world! Be careful of getting qualified on line. I have had several people call me stating they were pre qualified with a company only to find there were items that the online companies ignored and when asked by a local lender, were no longer qualified.
Good Luck!! I'm hoping this answer helps you and if it does, could you give me a Thumbs Up or Best Answer? Thank You again!!... more
Just looked at winter haven,fl on zillow. 295 Terranova Blvd Listed for sale on 9/14 5 different price cuts and finally sold on 5/23/14 This is not considered a sellers market. If you are use a realtor that tells you this is a sellers market find a better one. You will end up leaving money on the table because it's a "sellers market". Housing sales and new construction have continued to drop. May sales dropped 6.5%. Unless you are in the select few area's that are sellers market but this area certainly not.... more
I live there, and I've never had a problem, unless someone moved in with me from craigslist. Lesson learnt. In the meantime, the city itself, is amazing. The people are very friendly and outgoing. You have access to the city and the country, as long as you stay centrally located. Downtown, not great, but even there, it's fairly safe (compared to other places.) All in all, it's a great place to live.... more