Florida Home Buying
The “Sunshine State’s” new home communities continue to grow as builders such as Prestige Builders and Symbetheri Builders dominate the new home market in Florida. While existing home inventory is still substantial, new home communities continue to boom, providing an opportunities for real estate investing and first time home buying. State-wide, Florida home buyers are sticking close to home when it comes to obtaining a home mortgage and are working with their local mortgage lender or mortgage broker.
Florida lenders are looking for a high credit score and a substantial down payment before extending a mortgage loan. Borrowers can review their credit rating by requesting a detailed copy of their credit report. Florida mortgage lenders and mortgage brokers are asking all borrowers to review the report for inaccuracies before determining what they can afford. The credit score, coupled with a down payment and solid assets will assist the mortgage lender with determining the mortgage loan rate. Borrowers can also use mortgage calculators to help guide them with their decision on home purchase and affordability.