Is it really possible for me to buy a home? YES You Can! Let me Help You!

Despite all the bad stuff that you hear in the news, there are loans out there to fit you, despite some credit hiccups.

Improving your score can pay off in a lower interest rate and a smaller monthly mortgage payment. Fixing errors on credit reports to boost the scores may not be difficult or time-consuming.

To qualify for FHA loans, borrowers must be able to document their incomes and assets and not have defaulted on student loans or other government-backed debt. They usually need credit scores of at least 580. Scores range from 300 to 850. For an FHA loan, you need to put down 3 1/2% of the purchase price down. This downpayment for FHA borrowers can be a cash gift from a relative or friend. Also the seller can pay for the buyer's closing costs and prepaid items. What a deal!!

Local borrowers who don't go the FHA route will face stricter credit requirements on conventional loans.

Conventional mortgages for single-family homes typically require 5 percent down.

The only 100 percent financing available now is through Veterans Affairs, as well as some areas that qualify for Rural Housing Lending.

Holding off on a purchase of a $150K house hoping that the prices may fall another $25K may be a risky thing. If that does occur, but the interest rates jump and increase, the monthly payment may be more if you wait for the price reduction.

Things to consider for those considering a move to buy a home, but not sure when is a good time to take the plunge.

Please let me know if you have any questions about Today's Changing Tampa Bay Florida Real Estate Market.

Warmly,

Stephanie LeFew

Carrollwood Realtor / First Time Home Buyer Assistance / Home Buying Step by Step Process / Florida Real Estate for sale

My Services are FREE to Buyers!!

Ask Me about Buyer Incentives for You!

http://www.TampaHomeBuy.com

813-624-3332