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Popular posts from this blog

Get Pre-Qualified

If you want to save the most possible money on your Orlando home purchase, it can be very valuable to get pre-qualified for a loan from a mortgage company or bank. Pre-qualification differs from pre-approval in that a pre-approval is actually only an estimate of your ability to get a loan. Pre-qualification means a prospective homeowner has actually filled out an application and has qualified for a loan amount. A Few Words About Loan Qualification You should keep in mind that the amount you pre-qualify for is the  maximum  a lender will give you toward the purchase of a home. It may not necessarily be the wisest amount you should spend on a home. Many people find themselves “house poor” because they borrowed the maximum to get their home. They may leave no room for improvements, repairs, insurance, taxes, utilities and other property-related expenses. You may be best served to be conservative in the home price-range you are looking into. How Pre-Qualification Can Hel...

Quick Tips for First Time Home Buyers

This blog is specifically for first-time home buyers who want some tips on buying a home without having to do a massive amount of research. If you are considering entering the housing market in Central Florida for the first time, here are five quick tips to help. 1. Seek the services of a buyer's agent.  Most buyers don't realize if they call a real estate agent to look at a property for sale, that agent is most likely working on behalf of the seller. By acquiring the services of a buyer's agent, you are assured your real estate agent is working in your best interest.  2. Get pre-approved or pre-qualified for a mortgage.  Getting pre-qualified lets you, your agent and the potential seller know you are serious and are qualified to get a loan. This is very valuable in moving the process along smoothly and can help you in negotiating. 3. Know what you want, and don't want, in a house.  Create a list of what you do and don't want in a property and know what...

Preparing to Buy a Home

In my initial blog post I mentioned how much I love helping people find the perfect home, especially first-time buyers. Here, I am beginning a series that will take you through the entire home buying process, from where you are today to closing on your home. Even if you are months, or a year away from purchasing a home in Central Florida, there are steps you can take now to better prepare. Here's a look at how you can “get ready to get ready”. Get your credit in order.  Look up your credit score and check it for errors. Focus on making all your payments on time. A credit score of 580 or more can qualify you for a lower rate on a FHA loan . For our US veterans, a VA home loan may be available and most VA lenders will look for a credit score of 620+. A majority of home buyers will receive a conventional home loan and will need a credit score of 750 or higher. Do not make any major investments or purchases.  A lender will look at the bank statements for every applicable...