Are You A First-Time Home Buyer? Let Me Walk You Through The Process
Top 3 Florida First-Time Home Buyer Mistakes
Don’t make these common first-time home buyer mistakes. It could cost you thousands and we see them made everyday.
#1: Using A Big Bank
Bigger the bank, higher the rate. Buyers get marked up retail rates to offset the bank’s overhead.
#2: Afraid To Shop Around
Buyers falsely believe multiple credit inquiries will negatively impact their score and ability to qualify.
#3: Paying Closing Costs
Most FHA buyers end up refinancing later to get away from PMI, so why pay closing costs twice?
Florida County By County Downpayment Assistance Information
Orange County, FL
- Cannot have owned a home in last 3 years
- Minimum credit score of 640
- Residency in Orlando metro area in last 12 months
- Provide $1,000 or 1.75% of the purchase price, whichever is higher
- Income cannot exceed Orange County program limits
Seminole County, FL
- Cannot have owned a home in last 3 years
- Minimum credit score of 640
- You must have a purchase contract on a home located in Seminole County
- Assistance cannot exceed $50,000
- You must be a legal U.S. resident
- Income cannot exceed Seminole County program limits
Volusia County, FL
- Cannot have owned a home in last 3 years
- Minimum credit score of 640
- Total assistance cannot exceed $25,000
- Closing cost assistance cannot exceed $3,000
- You must be a legal U.S. resident
- Income cannot exceed Volusia County program limits
WHAT OUR CLIENTS ARE SAYING
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Florida FHA Guidelines Made Simple
Florida Home Funding’s FHA loan expert breaks down what you need to know about Florida FHA guidelines in less than a minute.
Mortgage Loans For First Time Home Buyers
Home purchases have made a comeback this year as the economy continues to recover and consumers return to the market. While many of these purchases are cash deals, most first time home buyers do not have the means for a cash transaction. However, there are several Florida mortgage loans available for first time home buyers…
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