I just posted in my blog that that will help you decide:
Hope this helps. Good luck with your decision.
Ronald (Realtor Ron W) wolchesky
"Success is when we work together to achieve your GOAL!"
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Hi I am paula Levasseur with Sovereign Realty and it is a great option to buy here in the Cape. The deals are still very good although the prices are increasing :o) ! Please call me today or email me I will be glad to help you through the process and find that perfect home in paradise. 239 910 4403 firstname.lastname@example.org... more
Foreign national loans are obtainable but often depend on which country you call home. The downpayment is anywhere from 30% of the purchase price on up and there will be closing costs associated with the loan like any other buyer here in the States pays. Some countries have their own types of credit scores which are used for foreign national loans here.
There are a few people I would be happy to put you in touch with that provide these types of financing.... more
For a second/vacation home you'd be looking at a 10% down payment requirement. It doesn't matter if it's a foreclosure, REO, short sale or a regular sale.
If you are using Fannie Mae HomePath financing (only for homes at the http://www.homepath.com website) then just a 660 score would be needed with 10% down, if you are using non-HomePath financing (i.e. just regular conforming financing) then PMI providers are looking for a 720 to 760 score for 10% down (score depends on the PMI provider). If you have 20% down, then a 620 score is the minimum score that Fannie Mae & Freddie Mac require for their loan programs.
There could be other non-conforming conventional loan programs, but I am sure their down payment & score requirements will be similar if not a little more strict.... more
It can be a combination of things. What type of loan are you doing? With FHA,VA and USDA there are "funding fees" that are counted as closing costs that are rolled in to the loan.
Title/escrow fees are getting pretty steep these days as well so that certainly contributes.
Do you have a 2010 GFE?... more
Anything is possible! There are no restrictions for anyone outside the country to purchase property, tax liens or deeds in the state of Florida. I would recommend contacting an accountant that can guide you on the ins & outs of taxation though.... more
To be honest, Robert, your best bet is to contact a realtor who will make sure you don't run into any problems, such a chinese dry wall, overpriced properties or a house in an undesirable area.
If you'd like to call us or email us, we'd gladly send you all the available listings for what you're looking as well as represent you exclusively as a buyer to give you more protection. You can call us right now if you'd like.
Faith Home Loans
I work with a great mortgage broker, Mike Pfaff, who can help you out. His website is www.capefunding.com. Check him out.
Zivkovic & Associates RE Services, LLC
My advice is to speak to a couple of reputable mortgage brokers. You may want to ask around to see if anyone you know has had a good transaction with someone near you. Find out which one you are most comfortable with and get them to determine what you qualify for. A knowledgable mortgage professional should be able to give you several different options and some can even advise you about improving your credit scores.... more
10% down mortgages have become the minimum down payment for conventional loans. The down side is that you will have to pay mortgage insurance since you are putting down less than 20% (unless, you can find a lender in your area that may provide you a first mortgage at 80% of the value of the home and allow a second mortgage for 10% to avoid the mortgage insurance - In our area this structure is gone). I might assume by your question that you can put down 20% if you're wondering or trying to decide between whether to put down 10 or 20%, feel free to contact me as there are several questions I ask clients to consider as they ponder this thought - best of luck to you.... more
There is a home with possible owner financing, 4 bedrooms/3 baths, over 2100 square feet. For more info and photos, drop me an email or call.
Right Choice Realty LLC
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Listingbook: http://lloydnswfloridahomes.listingbook.com/... more
I have a seller that will do up to 95% financing, 4.5% fixed 30 year interest, no closing costs, no origination fee, no appraisal, no mortgage insurance, 7 year balloon for owner occupants on their own homes. I have several to choose from but you must be able to qualify. They are looking for 600 credit score and enough income to qualify. If you have questions please feel free to call my partner Tim at 239-443-2446.... more
I recommend you speak to a mortgage expert, like Patti Wilson at 888-220-1025 or Kim Russo at 239-443-8359. Tell them I referred you and they will be able to answer your questions. I am a real estate expert and I don't proclaim to be an expert in mortgages, I always prefer people speak to someone who is up-to-date with all the changes in the mortgage industry.
Prudential Florida Realty