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Financing in Hialeah : Real Estate Advice

  • All367
  • Local Info17
  • Home Buying78
  • Home Selling2
  • Market Conditions10

Activity 8
Wed Jul 8, 2015
Cory Andrews asked:
i want to say a big shout out to you Miss Janice for recommending a reliable corporation, i also have a story to tell. Myers Universal Corporation MUC is a very professional and efficient…
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Thu Dec 26, 2013
Luis Nunez answered:
I have a 2/2 available in Miami Lakes near The Moors for 115,000.00. Let me know if your interested.
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Thu Dec 26, 2013
Luis Nunez answered:
Mon Jun 25, 2012
Stephanie Leon answered:
Will you be financing or buying cash?

If you are financing then you will first need to get pre-approved by a lender.

If you need more infor feel free to contact me.
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Mon Jul 18, 2011
Justin Ruzicka answered:
There are many things to consider when purchasing a home. Visit the http://www.mortgagecalculator.org/ to get a good estimate on total monthly costs...BUT there here are some blogs of more to consider.
http://blog.house-guy.com/2011/01/buying-house-costs-more-than-3-down.html
or
http://blog.house-guy.com/2011/02/make-sure-you-can-afford-your.html

there is a lot more blogs there to read to help buyers..best of luck.
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Tue Jun 28, 2011
Don Tepper answered:
No. The best answer here is from Scott, who ran down the primary ways you can finance conventionally.

There are also ways to creatively finance--often with owner financing. Generally, agents are less comfortable with these and, really, if you can afford to buy conventionally you probably should. However, other options requiring far less than 20% down (though it's all negotiable) are traditional owner financing, lease-options, lease-purchases, land contracts, contract for deed, wrap mortgages, and land trusts. There are drawbacks and risks to some of these that you may not encounter in a traditional purchase, but they may be worth considering.

Hope that helps.
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Sat Jul 21, 2007
Hagen H. Hendrix answered:
Let me go ahead and break down your questions.
1) Properties are becoming more affordable throughout Miami-Dade and the high prices that properties sold for until about 9 months to a 1 year ago are fading away. Hialeah Gardens is one of the areas that is becoming more affordable as well.
2) Lenders are becoming a lot more stringent on their lending criteria and a bad credit score is something that is being looked at very closely. I am not certain if there is a lender who will approve a 40 year / 100 percent financing. Your best bet is to go to a Mortgage Broker and let them take a look at what they can do for you. But before you go to a mortgage broker, get in touch with the credit bureaus (all three of them) and ask them to send you a copy of your credit file. Per law, they have to provide you with a free copy. Then take those copies with you when you see the mortgage broker and ask them to work of those reports first, before they pull your credit report. The reason being, when you ask for your report, it doesn’t show up on your credit report against you; however, if a broker or lender pulls the report, it show up on your report. And let’s say you want to switch brokers after they already had pulled your report, the next one will have to pull another report on you. Most times pulling more than two reports within a 6 month period will affect your credit rating as well. Also, try to pay down/off any debt and don’t apply for credit until you have closed on your new home. Those things will show up in favor for you on your report.
3) If you are a first time home buyer, lenders can tap into Fannie Mae and seek first time home buyer programs. These programs will give discounts on rates, help with down payments and/or closing costs.
4) Seek the help of a realtor after you have been pre-approved and give him/her a copy of your pre-approval letter. That makes you life a lot easier since you know what you can afford and you are in a better price negotiating position.
I hope all this was helpful and good luck.
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