I have a job for more than 12 yrs,my income is$ 65.000 yrand my CS are 681-640-615.Any chance to buy as FHA or minimun dowpayment?

Asked by Al, Miami, FL Fri Jul 20, 2012

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Alexandria M…, Agent, miami, FL
Sat Jul 21, 2012
Hello...my name is Alexandria, currently a licensed agent in Florida. And yes you may qualify for an FHA and go with a downpayment as low as 3.5% according to guidelines. Now..very important before you start shopping around make sure you visit a lender that can review your case especifically, since financing does vary according to each individuals personal finance.

You do not want to assume nothing. Make sure you understand what exact program you qualify for and if you do not have someone in mind then call me. I can recommend you a lender whom is very professional and will give you an appointment totally free of charge and will answer all your questions. Once you have this part clarified I can go ahead and help you with your real estate needs.

My number 786-344-5411

Best Regards,
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Tamika Moses, Agent, Pembroke Pines, FL
Sat Jul 21, 2012
Hello Al how are you? I am a licensed realtor here in South Florida, and I can help you with that process. We have a in-house financing within our Pembroke Pines office of Keller Williams Realty. They have hundred thousand of clients obtain their dream og homeownership. With the basic parameters you have provided you will be able to qualify for FHA financing which is 3.5% downpayment. Please contact me and let me know what areas you are looking in and I would be more than happy to help you..

Thank you,
Tamika Moses
Keller Williams Realty Partners SW
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Theresa Dani…, Agent, Columbus, GA
Fri Jul 20, 2012
Hi Al,
I'm not licenced in Florida yet, but with your scores you should qualify for a FHA loan. The lender usually throws out you high and low scores and uses your middle score. For you that would be the 640, which is about the minimue that most of them want to work with. They don't like to see you maxing out your credit cards either. Sometime the quick fix for that is to ask your credit card company to increase your limit. Just be mindful of not using that extra credit.

First thing you want to do is contact a lender. They will pull your credit, and can discuss with you your debt to income ration and if you have anything in reserves. It not only about how nuch you make, but how much of it do you keep.

Normally the down payment is 3 1/2% of the sales price of the house. However, if you find a HUD home to purchase then the down payment is reduced to only $100.00. Check out their website at http://www.HudHomeStore.com and select your state.

I hope that helps you.
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