Home Buying in 33880>Question Details

Felecia & Mi…, Renter in Winter Haven, FL

What is the best way to get started on the buying process?

Asked by Felecia & Mike, Winter Haven, FL Tue Sep 10, 2013

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Pick a Realtor you enjoy because they are going to be invaluable to you through the process. All Realtors "co-broke". That means they can show you all available properties, no matter who's sign is in the yard. Each Realtor is unique, but be sure to ask if they charge you, the Buyer, any fees. (Some do. I do not) Realtors only get paid when you close on your purchase - everything they do for you is out of their pocket and on their time, until you take them to the closing table with you.

Select a lender from the list the Realtor can provide you. These are generally people the Realtor has had experience with and knows they are dedicated to getting you to the closing table.
Once you have talked with the lender, you will know the amount you are able to spend and you and your Realtor will be ready to go shopping!

These days your "pre-approval letter" from your lender has to be supplied with your offer, so that is why you need to get your lending settled first. While you are working on that, your Realtor can be sending you selections of homes that fit your wish list. This helps prepare you for shopping - you can see what your dollar amount is able to buy you.

Remember - finding your new home is a process. Everything takes time, so be patient. Most lending takes a minimum of 45 days now and there are many programs so be sure to find the one that will give you the biggest bang for your buck.

I would be happy to help you in this process. As it says on my business card - IT IS MY PLEASURE TO BE YOUR AGENT OF CHOICE!

Sanda Andrews, Century 21 At Your Service Realty (the ONLY Century 21 office IN Polk county!)
863-585-9610 or Sanda.Andrews@Century21.com
1 vote Thank Flag Link Tue Sep 10, 2013
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Best way to start is to review these loan programs and call me.

100% LTV- VA
100% LTV- USDA
99% LTV- FHA/580 score @ lower LTV

97% LTV- NO PMI
97% LTV- CONDO- NO PMI
90% LTV- 2nd Home- NO PMI
90% LTV- JUMBO- NO PMI
85% LTV- Super Jumbo- NO PMI
80% LTV- Invest. /Rental
80% LTV- Foreign Nationals
70% LTV- Manf. Homes over 90k

STATED INCOME ALT-up to Super Jumbo

90% LTV- Short Sale, BK, Foreclosure Forgiveness
80% LTV- FIX n’ FLIP Invest. Prop.
75% LTV- Foreign Nationals
70% LTV- Soft and Hard Money

COMMERCIAL PROGRAMS-nationwide

Steve McRory
Pro Option Mortgage/ Florida
steve@pro-option.com
http://WWW.PRO-OPTION.COM
Ph: 888 662 4404
#204296

Prior Service: U.S. MARINE CORPS
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1 vote Thank Flag Link Wed Sep 11, 2013
Steve I have no idea what these abbreviations are! Can you please elaborate a little more.
Flag Thu Sep 12, 2013
A great way would be to contact a local real estate agent who can put you in touch with a mortgage broker and also help you find what you're looking for. RE/MAX has properties all over Florida, and I would be happy to recommend an agent that's local to you if you need. Feel free to contact me: julieschalm@remax.net
1 vote Thank Flag Link Tue Sep 10, 2013
First off, you would need to speak with a lender to apply for a loan and prequalify. When applying for a loan, lenders like myself will need to look at several different things if you are trying to prequalify for a loan. 1) Proof of income for each person that will be on the mortgage which can be demonstrated through: one month of pay stubs, previous year's W-2 forms and tax returns, official documentation to demonstrate other forms of income (alimony, child support, etc.), and two year's tax returns if self-employed (all schedules, all pages) 2) Credit Report which they will pull 3) Employment History or Business Tax Returns if you're Self Employed 4) Personal assets such as: Recent balances and statements for bank accounts, most recent account statement demonstrating market value of any investments (stocks, bonds or certificates of deposit), documentation showing interest in retirement funds, face amount and cash value of life insurance policies, value of significant pieces of personal property, debt information, the balances and account numbers of your current loans and debts, including car loans, credit card balances and any other loans you may have. These are just a few things you should have ready when you begin your buying process. Well I hope this helps! If you have any further questions or if you need a loan, feel free to contact me. Also, if you found this helpful please leave me a recommendation if you can! Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887 brian.nguyen@nafinc.com
0 votes Thank Flag Link Wed Feb 19, 2014
Go to http://www.NAEBA.org.....this will be helpful.
0 votes Thank Flag Link Tue Sep 24, 2013
1- find a lender
2- get pre-approved
3- now you can find an agent

Thats about all you will need for the very starting process of buying
0 votes Thank Flag Link Tue Sep 24, 2013
Felecia,
Start with the mortgage pre approval process. If you are looking for 100% financing, take a look at the USDA loan.
0 votes Thank Flag Link Tue Sep 24, 2013
Congratulations on your decision to buy a home!

Speak with a loan officer/ mortgage professional to find out how much you qualify for. Once you know how much you can qualify for, decide on what price point you are comfortable with. At that point, contact a local REALTOR, or if you prefer, I can help you locate one in your area. Your REALTOR will be able to guide you through the entire home purchase process.
0 votes Thank Flag Link Tue Sep 10, 2013
Find a real estate agent who will have a consultation with you to determine your needs. You will first need to find out how much of a mortgage you can get, that is, if you are not paying cash.
The agent will go over the process with you.
0 votes Thank Flag Link Tue Sep 10, 2013
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