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| Welcome | Buyer's Home | FAQ's | All About Short Sales & Foreclosures | Getting A Mortgage | ||||||||||||||
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Getting A Mortgage How much can you afford? Determining how much you can afford and getting a loan approval is actually the very first step in the buying process. Calculating the overall monthly payment is more than just the principle and interest alone. Your total monthly cost of ownership requires adding in the escrows, property taxes and cost of insurance. These costs are variable and depend on the property you choose to purchase. Choosing A Lender? Their are many lenders that you can go to for a loan. Florida Luxury Realty has partnered with Bank of America who is one of the largest and strongest mortgage lending institutions. |
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When is the best time to get loan approval? In order to have the best possible chance when submitting a home offer, I highly recommend that buyers get pre-approved for their home loan. Pre-approval simply means that the buyer has worked with a lender to determine what the maximum loan amount the buyer could qualify for with that lender, prior to selecting a house. Pre-approved buyers have several advantages, including increased negotiating power, since the seller knows that you can complete the transaction. In fact, some sellers will not even entertain offers unless the buyer is pre-approved. How much money do I need to purchase a home? As a Florida Luxury Realty professional, I will help you find the perfect home and then will tell you the estimated cost of property taxes and insurance so you will be certain that the home of your dreams is also one you can comfortably affordable to own. When you obtain your loan approval the lender will be able to help estimate the amount of money you will need at the time of purchase.
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