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Financing in 33017 : Real Estate Advice

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Activity 5
Thu Dec 26, 2013
Juan Santos answered:

Why not just sell it?

Juan J. Santos | Realtor®, | The Santos Real Estate Group at Keller Williams Realty | 2000 NW 150th Ave. Ste 1100 | Pembroke Pines, FL 33028 | O: 954.471.4406 | F: 888.970.7790 |
Email: | Visit
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Mon Jun 25, 2012
Tim Moore answered:
Step #1 to buy any real estate is to speak to a lender to see if you can get a loan.
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Thu Dec 26, 2013
Yes, you can do the refinance & purchase simultaneously if you wish. Of course if you are going to be moving into your new home, you would be doing the purchase as an owner occupied property and the refinance as a non-owner occupied property. Non-owner occupied interest rates are roughly .375% higher than owner occupied interest rates.

If you wanted to refinance your current home into owner occupied interest rates, most lenders require you to live in the home for the 1st year of the mortgage, and then afterwards you are no longer required to occupy it/can buy a new primary residence without having to pay off that mortgage.
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Mon Jul 18, 2011

If you are truly interested in purchasing a home you need to take the time to speak to a licensed loan officer that can explain how the process works and answer any questions you have. Buying a home is a very important step in ones life and going off of, quite frankly, some of the junk out on the internet can really hurt you in the long run. I'd be happy to give you solid, quality information that will help you in your decision. You may reach me at any time. I look forward to assisting you.

Joshua A. Lerette
Senior Loan Officer
Residential Finance Corporation
800.930.7334 Ext. 1108 – Toll Free
813.402.4637 – Direct Line
727.488.7355 – Cell
888.692.5967 – Fax
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Tue Jun 28, 2011
No. You can do it with as little as 3% down on conventional and 3.5% on FHA. However, you will have to pay monthly private mortgage insurance(PMI). PMI is an insurance that you pay a third party to protect the lender in case of default. You would need to pay for PMI at least for 5 years, sometimes less. You would also need have a certain credit score to qualify depending on the program. If you want to avoid paying the PMI then you put 20% down or more. For more information call or email me to discuss.

Jose Morales
Florida Mortgage Coach
“We Coach You Through the Mortgage Process”
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