Focused Financing For Floridians

Although it is a myth that you must put down 20% to buy a home, you do not.  Plenty of homebuyers will qualify for as little as 10% or even 3% down for first time homebuyers. Just remember, the size of your down payment will determine how much your mortgage payment and what interest rate. 

The higher your credit score, the better interest rate you could qualify for.  The better interest rate will help not only with your monthly payment but also with what you could qualify for.

Closing costs range from 3-5% of the purchase price.  Your initial fees are outlined in your loan estimate.  Final closing costs are on your closing disclosure.  These consist of origination fees, title fees, appraisal fees, prepaid, government fees, and escrows. These costs are paid for by the buyer at closing, however when you put in an offer, you can request seller’s concessions to help with the closing costs.  (Depending on the loan program, there are maximum concessions you can ask for).