Don’t feel left out. Mortgage Lenders are in tune with today’s buyer’s needs. Getting Pre-Approved is key to timely home buying. Sellers want qualified buyer’s only. Cash buyers don’t need a loan officer they just need their prof of funds for the offer.
TWO COMMON MORTGAGE MISCONCEPTIONS 20% Down Payment Misconception The greatest barrier to homeownership in America is the down payment. Many people think 20% is required to buy, but options with lower down payment requirements are available. State housing agency programs and other gifts and grants may be available that provide funds to use toward their down payment and closing costs. Some programs can be coupled with other low down payment loan programs, like FHA and VA. High FICO Score Misconception Knowing what kind of shape their credit is in can give them an idea of what kind of loan they may qualify for and what their down payment may be. Many people think that they need to have an excellent credit score in order to qualify for a home. This is simply not true. One of the best loan programs for someone with a lower credit score is an FHA home loan. The homebuyer only needs a 580 credit score or higher to qualify for a down payment of just 3.5%.
I have a team of Mortgage Professionals, ready to assist you today! The information above is courtesy of Mona Sarno from Del Ray Florida.
|Mona SarnoSenior Mortgage Loan Officer|
|D 561-310-5129F 561-454-8298Mona.Sarno@myccmortgage.com|
After you have a pre-approval all set what’s next? Easy, that would be your Realtor. We know what is available in your area and work to find the best possible home for you. Your Realtor will be the person writing and negotiate the offer. As always feel free to contact me at Action Realty. 561-707-5812.