Buyers Information

Credit Tips:  Check your credit through one of these sources before you go through the pre-approval process.  This will allow you to correct any errors on the report before it affects your mortgage approval.  A Loan officer can also help you with this process.

There are 3 main Credit Bureaus:

1.  Equifax  :  800-658-1111

2.  Experian:  888-397-3742

3.  Trans Union:  800-8884213

Visit www.annualcreditreport.com.  This central site allows you request a free credit file disclosure, commonly called a credit report, once every 12 months from each of the nationwide consumer credit reporting companies.

How to Improve your credit score: 

1. Address any corrections on your credit report. Most credit reports contain at least 1 error.

2.  Pay down outstanding debts.  ( Check with your loan officer first for advice on which ones need to be reduced.)

3.  Pay all your bills on time, even if that means just making the minimum payment.

Get Preapproved for a loan:  Nowdays most sellers or short sales will not accept an offer without being preapproved.

Tips on where you want to live and what you can afford.

1.  What type of home do you want.

     Single family home, a condominium, townhome, villa

2.  Do you want a older home or new home?

     Older homes may need some TLC,( are you handy?) 

3.  Do some research of what neighborhoods you would

     like to be in.  Are schools important? How much

     communting time can you handle?

4.  Can you realistically afford the area you are looking

     in.

5.  Buy with re-selling in mind. 

General Tips for Buyers: 

1. Be sure to understand the difference between

    homeowners insurance, mortgage insurance and a

    home protection plan.

2.  Make sure you get a good faith est. from your lender. 

     Its the law. 

3.  Have an Understanding what title insurance is and

     what a clear title means to you as a buyer.

Once you go through the process of getting preapproved, the lenders may want you to wait for 6 months to a year  before purchasing your home.  Do not let this discourage you.  This is a great goal to work towards and you can do this with the support of your lender and realtor.  Mortgage Information:

FHA LOANS

The Web site for the Federal Housing Administration's (FHA) loan program has everything you need to know about FHA loans and FHA approved lenders Mortgage Information: There's even an "Ask the Expert" component

VA LOANS

Veterans Affairs (VA) Web site outlines home-ownership programs designed specifically for vets-and there are a number of them.  www.homeloans.va.gov.

Florida State Now offers Downpayment help!!

The State of Florida has just passed legislation allowing qualified buyers to borrow$8000 available through teh federal first-time buyer tax credit.  The initiative is called the Florida Homebuyer Opportuity Program. 
Here in Florida, rather than qualified buyers waiting to get their tax credit on the tail end of the process, in the form of credit after they've filed the tax returns, it will allow them to get it up front and let them use it for a downpayment assistance and fees.  For more information go to www.florida-housing.org.