First Time Home Buyers in Florida
If you live in Florida and are in need of a First Time Homebuyer Mortgage
you have come to the right place.
I am a West Palm Beach Home Loan Specialist with 20 years experience and really enjoy helping the first time homebuyer conquer the whole mortgage and home buying process. I work out of a Fort Lauderdale branch of an excellent mortgage lender but can help someone located anywhere in the state of Florida.
It is fun to watch the First Time Home Buyer borrower empower themselves with the knowledge of what to do and then see them get with a good Realtor and go find a nice piece of real estate.
I like to think of myself as your Lender for Life because I will stay with you through the entire home buying process of purchasing your first house, then as years pass, if you ever decide to look for home #2 or home #3 or refinance your home (if we ever see rates this low again), I will be around to help and answer questions and work in your corner.
Many First Time Homebuyers have misconceptions about getting approved and also about grant money that is sometimes available in their counties or towns.
Getting approved is not harder than any of your other typical mortgage programs. Getting approved is easy. That is where I come in. We collect the facts of your situation and create the loan application for you, pull your credit and run your deal through automated underwriting. The feedback will tell us "Yes, No or Maybe" right from the get go. Here is an example of what that looks like. We call this our "Findings".
Grant Programs for Certain Neighborhoods
Usually, I discourage customers from waiting around for grant money because most of the time you will not get it. As far as grant money is concerned it is my opinion that it will be very hard to coordinate in today's sellers market which may prevent you from getting the home you are looking for.
Often times the qualification of recipients for grant money require an extremely low income and also only certain areas are eligible. The whole point of grant money is to revitalize beat up neighborhoods so why would you want to go live in a less nice neighborhood on purpose.
Another downside of these programs is that you will need to go through a whole other qualification process which will take 30 to 60 days and then you will have to wait around for the grant money to show up. As of this writing in December 2013 we are experiencing a sellers market where most listings are getting sold in 30 days or less. Most sellers will not wait around for a potential buyer who is in turn waiting on his grant money to show up.
If you need to borrow for your cash to close the best two sources are gifts from family or borrowing against your own 401K program.