Check your credit.
The home buyer's credit score is among the most important factors when it comes to qualifying for a loan these days. Just because you pay everything on time every month doesn't mean your credit is perfect. Consequently, you don't need perfect credit to purchase a home either.
The most important thing about the credit is the score. You will need at least a 640 score for most banks etc that would look to give you a loan. If your score is in the ball park but not quite there, we can still help you get your scores where they need to be. OR, assist you with a loan program that is not score driven.
Talk with a Lender before you look at the first home.
Decide if a Conventional, FHA, or VA loan is right for you. We cant emphasize enough how important this is. Sellers are as choosy about what type of financing you have, as you are about the home you choose to buy. Recently it appears that more sellers want a buyer with conventional financing, yet most first time home buyers get FHA financing because the qualifying requirements appear more attractive. Now that's important to know!
If you are a cash buyer
You will need bank statements showing you have the funds to purchase, in lieu of a pre-approval letter. Simply black out your account number. That, and an earnest money deposit are all we need to make an offer on a home for you.
Find out market conditions
Just because you see signs in front of homes does not mean there are homes available. Sad, but oh so true. Many fully prepared, well qualified South Florida buyers are taken back by the amount of time it can take to find the right home.
According to board of Realtor statistics almost 50% of all homes between 200 and 350k are bought up by cash buyers. Most homes in this price range also have multiple offers on them.
When you work with American Paradise Properties we will do all the heavy lifting for you. We will systematically email you ALL available properties in the MLS that fit your very specific requirements. We will also prepare you for this "multiple offer situation market" with the efficiency in which our offers are structured and the speed in which they are submitted. This will save you lots time and frustration.
So if you are ready, lets get started