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First Time Home Buyer Info: Down Payment

Once you have gone over your credit report and fixed any mistakes, paid off a few credit cards, and know your score and can start shopping for your mortgage. How much money you have to put down can make a huge difference in the amount of home you can afford. A few years ago it was not uncommon for buyers to get a first time home buyer loan with absolutely nothing down. Those days are pretty much over. Now the banks want to see a stable employment history, and depending on your loan, a minimum of 3.5% down.

Thumbnail image for First Time Home Buyer Info: Credit Scores

First Time Home Buyer Info: Credit Scores

In the last article “Obtaining Financing” we talked a little bit about the importance of checking your own credit score before applying for a home loan. There are many reasons why this is a good a idea and why you should do it sooner rather than later. But first you should understand how your credit score is determined.
Your credit score is based on several factors including:

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Our First Offer

Well, we finished looking at all of the homes Jose and Claudia found for us. And we were a little torn between one in Altamonte (great location, but the house had no character) and the two historic homes in Sanford (lot’s of character!). Jose had looked into the two in Sanford and found that our first choice had issues running much more deep than cosmetic. It also had 2 offers on it already. Disappointed, my husband and I decided to scratch that one off the list. Bank owned homes sometimes go into bidding wars when more than one offer has been submitted and given the amount of work this particular house would need we just decided it was better to walk away.

Thumbnail image for Buying Your First Home: Are you really ready? Part 1

Buying Your First Home: Are you really ready? Part 1

If you read the last article “Cut the Confusion: Defining the Key Players for Orlando First time Home buyers” then you are already one step a head of the pack. But are you really ready buy? There are many responsibilities of home ownership that are often forgotten once the adrenaline of buying your first home [...]

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