If you want to explore if home ownership is right for you, then answer these few questions and see for yourself. If all or most of your answers are "yes", then you may be a good candidate for home ownership and qualifying for a mortgage loan.
 |
Have you established a credit
score? If so, is that score at least in the 580 range? If
it's lower, my lenders can recommend techniques you can use to get your
score over this level. |
|
Are you gainfully employed and
been on your job for a while? Are you fairly committed to staying in
the metro-Orlando area for a few years? |
|
Can you accept a monthly house
payment between $800 to $1,000/month? This will buy you a home
priced between 100,000 and 125,000. There are also opportunities to
buy in the 50k to 100k price range! On
this web page below, are examples of what you can buy between 80k and 125k. |
|
Do you have other debt (cars,
credit cards, student loans, etc.) not exceeding $275 -- $433/month? |
|
Do you make between $30,000 -- $40,000/year in income? An income of more than this will get you into a home unless you are knee deep in debt! |
If you answered YES to most of these questions, then buying your 1st home may be a good choice for you. If you did not answer yes to most of these questions but still would like to buy a home, then some work may be needed on your part, to make home ownership an option for you.
Here are (5) reasons why this is the best time ever, to consider buying your own home:
|
Home prices are at extremely
affordable levels, at prices last seen in 2002/2003. |
|
Interest rates are at historic,
all-time low levels, between 4.25% and 5.5% currently, for a 30-yr fixed
rate FHA loan. |
|
U.S. Government will give you
an $8,000 rebate (tax credit which amounts to cash back on your tax return),
for buying your first home. This rebate is also good for those you
haven't owned a home in the previous 3-yrs. This tax law has
previously changed and may change again in the future. |
|
A unique opportunity exists to
buy at or near bottom of the market, and build equity over time. Real
estate, like the stock market, has "highs" and "lows". You always try
to buy at or near the bottom of value -- then watch your investment grow
over time. Property values WILL be higher in the future. If you
wait too much longer you may miss out and be losing money when you
eventually do buy. |
|
A 3.5% down payment may be all that's required of you, in term of cash output on your purchase. Sellers still pay most of buyer's closing fees if asked via negotiation, but you may also have some closing costs as well. Down payment assistance money may also be available to you, if you qualify. |
** For a free, no obligation consultation, simply call or send me an e-mail today. You can also submit an electronic request by clicking here.
** If you would like to pre-qualify for a mortgage, I highly recommend Todd Pierson of The Mortgage Firm. Here is a link to his web site and a wealth of information for the 1st time or repeat buyer: www.themortgagefirm.com.
Example of 80,000
home (Winter Garden):
13239 Harbor Shore Ln., Winter Garden (Daniel's Landing)
Provided courtesy of Real Estate Asset
Disposition
Example of 100,000
home (Ocoee):
411 Hager Dr., Ocoee (Forest Oaks subdivision)
Provided courtesy of Watson Realty
Example of
125,000 home (Ocoee):
2707 Cullens Ct., Ocoee (Waterside subdivision)
Provided courtesy of Mass Properties Inc.
There are a wide variety of homes available, in every area of central Florida, in every buyer's price range. These (3) examples will vary from east side to west side, from south to north. Town homes can also make a nice 1st time buyer home, and many have communities pools, organized events, and full maintenance of the exterior buildings.