| If you have been thinking of purchasing your | | | | you can afford, don't forget to include |
| first Florida home, there has never been a | | | | insurance costs and taxes. You can access |
| better time to do so. The current real | | | | tax records online or at the county offices |
| estate conditions in Florida favor the buyer | | | | of your desired neighborhood. If you already |
| rather than the seller as the market has | | | | have an insurance carrier for your |
| cooled a bit during 2006. At this time, | | | | automobile, ask your agent about whether the |
| listings are plentiful, and there are great | | | | company offers home loans. Companies often |
| deals to be found. | | | | give multiple policy discounts, so it pays to |
| | | | have all of your policies through the same |
| If you are looking for a brand-new home, | | | | insurance provider. |
| builders throughout Florida are offering | | | | |
| luxurious, custom homes that are built to | | | | Another advantage of using the same insurance |
| withstand Florida's tropical climate and | | | | provider for multiple policies is that when |
| summer storms. These builders also offer | | | | many agencies are not writing homeowner's |
| discounts if you purchase your home during | | | | insurance policies for new customers during |
| the winter months, and buy directly from the | | | | hurricane season, they will write policies |
| builder's sales office rather than using a | | | | for existing customers. |
| realtor. | | | | |
| | | | Take advantage of federal and state |
| Even though interest rates have risen | | | | first-time home buyer incentives |
| slightly above the all-time lows seen during | | | | |
| the real estate boom of the last few years, | | | | Since you have already established a |
| rates still remain relatively low. Added to | | | | relationship with your bank or private |
| that, as a first time home buyer, there are | | | | mortgage broker, you have a wealth of |
| numerous incentive programs and special | | | | information at your disposal when it comes to |
| interest rate mortgages designed just for | | | | finding the best first-time buyer incentive |
| you. | | | | programs. Your mortgage specialist should be |
| | | | able to provide you with information on the |
| Preparing for your new home purchase | | | | various federal and state programs available |
| | | | to you, as well as first-time home buyer |
| In order to avoid some of the pitfalls that | | | | programs offered by individual lenders. |
| first time home buyers can sometimes | | | | |
| experience, it pays to be as well-prepared as | | | | You should also double check any information |
| possible before you begin shopping for your | | | | you receive to ensure that you are truly |
| new home. Just because you are new to home | | | | getting the best loan that you possibly can, |
| ownership doesn't mean you should be | | | | with the lowest interest rates and closing |
| uninformed, and when it comes to home buying, | | | | costs. The internet provides a wealth of |
| knowledge of the current market conditions | | | | information at your fingertips, with |
| and a bit of extra preparation really do go a | | | | checklists, program guidelines, common |
| long way. | | | | real-estate terminology and online lending |
| | | | websites that can give you valuable hints on |
| How much can you afford? | | | | how to find and negotiate the best loans. |
| | | | Taking advantage of this resource could |
| Before you begin the search for your new | | | | literally save you thousands of dollars. |
| Florida home, it is important to carefully | | | | |
| and above all, realistically, assess your | | | | Finding your ideal Florida home |
| financial situation and home expense budget. | | | | |
| It is often helpful to visit your bank or | | | | Once you have your financing options in |
| selected mortgage company to seek | | | | place, have researched the current market |
| pre-approval for a loan amount before you | | | | conditions, and have a working knowledge of |
| start shopping. | | | | the terminology commonly used by realtors, |
| | | | sellers and lenders, you are ready to begin |
| When a lender completes a pre-qualification | | | | the search for your new Florida home. |
| assessment, they look at how much home you | | | | |
| can afford based on your income, credit | | | | Drive through several different neighborhoods |
| score, predicted down payment amount and | | | | that suit your needs. Go on a Sunday and |
| debt-to-income ratio, which represents how | | | | visit open houses given by realtors and |
| much you owe to creditors vs. your annual | | | | builders. When you have your target price |
| income. | | | | range and pre-qualification in hand, you are |
| | | | in an excellent position to negotiate when |
| Using this information, your lender can tell | | | | you find the perfect home or home builder. |
| you what size loan you will qualify for. | | | | But don't forget to shop around. Look at |
| This allows you to narrow your Florida home | | | | several homes and interview several home |
| search into an approximate price range and | | | | builders. |
| not only protects you from making an offer on | | | | |
| a home you can't afford, but also allows you | | | | By completing your research, preparations, |
| to search for the Florida home that will | | | | and pre-qualification for financing, you are |
| provide the amenities you want at the price | | | | setting yourself up for first-time home |
| you can afford. | | | | buying success. So don't wait; begin your |
| | | | journey toward Florida home ownership today! |
| When you are calculating the monthly payment | | | | |