Comments on: Will I get a $300,000 mortgage with no money down in south florida? http://www.zerodownwebsite.com/no-money-down-mortgage/will-i-get-a-300000-mortgage-with-no-money-down-in-south-florida FREE Info - Learn How to Buy with a Zero Down Mortgage. Tue, 07 Sep 2010 06:02:44 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: robert w http://www.zerodownwebsite.com/no-money-down-mortgage/will-i-get-a-300000-mortgage-with-no-money-down-in-south-florida/comment-page-1#comment-846 robert w Wed, 11 Nov 2009 14:38:59 +0000 http://www.zerodownwebsite.com/no-money-down-mortgage/will-i-get-a-300000-mortgage-with-no-money-down-in-south-florida#comment-846 OH thank u for the giggles. it is amazing how little financial education is taught. keep renting until u pay off most if not all ur loans before they are due. live on 40K (swallow ur pride) work extra hours pay off loans in3 yrs or less. then save up 2 more years of earnings and put some serious money down. housing market will have bottomed out by then. debt even school loans is slavery just watch next few yrs.<br><b>References : </b><br>ex street bum , biz owner now OH thank u for the giggles.

it is amazing how little financial education is taught.
keep renting until u pay off most if not all ur loans before they are due.
live on 40K (swallow ur pride) work extra hours pay off loans in3 yrs or less.
then save up 2 more years of earnings and put some serious money down.
housing market will have bottomed out by then.
debt even school loans is slavery just watch next few yrs.
References :
ex street bum , biz owner now

]]> By: Steven L http://www.zerodownwebsite.com/no-money-down-mortgage/will-i-get-a-300000-mortgage-with-no-money-down-in-south-florida/comment-page-1#comment-845 Steven L Wed, 11 Nov 2009 14:32:59 +0000 http://www.zerodownwebsite.com/no-money-down-mortgage/will-i-get-a-300000-mortgage-with-no-money-down-in-south-florida#comment-845 You probably will not qualify but not for the reasons others have said. You could qualify for Fannie Mae or Freddie Mac or even FHA with the high Debt to income ratio, your problem is going to be your income ... you flat out make too much money to qualify for those. There are some "hybrids" of the My Community and Home Possible programs that you may qualify for, but it would take a full evaluation of your financial situation. Anyone saying yes or no based on what you have given is not in the business and has no idea what programs are available day to day. (And it does change everyday) Speak with a licensed, reputable broker.<br><b>References : </b><br>http://WeFixRates.Com You probably will not qualify but not for the reasons others have said. You could qualify for Fannie Mae or Freddie Mac or even FHA with the high Debt to income ratio, your problem is going to be your income … you flat out make too much money to qualify for those.

There are some "hybrids" of the My Community and Home Possible programs that you may qualify for, but it would take a full evaluation of your financial situation. Anyone saying yes or no based on what you have given is not in the business and has no idea what programs are available day to day. (And it does change everyday)

Speak with a licensed, reputable broker.
References :
http://WeFixRates.Com

]]> By: T C http://www.zerodownwebsite.com/no-money-down-mortgage/will-i-get-a-300000-mortgage-with-no-money-down-in-south-florida/comment-page-1#comment-844 T C Wed, 11 Nov 2009 14:07:59 +0000 http://www.zerodownwebsite.com/no-money-down-mortgage/will-i-get-a-300000-mortgage-with-no-money-down-in-south-florida#comment-844 You would be better off with a down payment. The mess we are in now was because too many houses were bought that way. Try a couple of big banks, and a mortgage lender.<br><b>References : </b><br> You would be better off with a down payment. The mess we are in now was because too many houses were bought that way. Try a couple of big banks, and a mortgage lender.
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]]> By: Spock (rhp) http://www.zerodownwebsite.com/no-money-down-mortgage/will-i-get-a-300000-mortgage-with-no-money-down-in-south-florida/comment-page-1#comment-843 Spock (rhp) Wed, 11 Nov 2009 13:56:59 +0000 http://www.zerodownwebsite.com/no-money-down-mortgage/will-i-get-a-300000-mortgage-with-no-money-down-in-south-florida#comment-843 not likely. every appraiser in the area knows the outlook for properties is down ... and with no down payment, the likely reply is "can you put up 60k toward the purchase?" worse, the loan buyers are insisting on conforming loans ... while your income is likely enough [you didn't tell us what your payments on the ccards and student loans are], you can't be a conforming loan with a down payment. your taxes and insurance payments will be brutal as well. guess taxes at 7500/yr and insurance payments about the same ... that's 1250/month alone. 300k at 8% on a 30 yr loan is 2200/month P&I, so you're up to 3450/month or so PITI, plus your ccards at a minimum of 300 and student loans at 900/month?? [help us here] equals a total of 4650 or so a month in payments. your income is 9167/month and so your total payments would be WAAAY above the guidelines of 32% to 36% max.<br><b>References : </b><br>ex-mortgage banker not likely.

every appraiser in the area knows the outlook for properties is down … and with no down payment, the likely reply is "can you put up 60k toward the purchase?"

worse, the loan buyers are insisting on conforming loans … while your income is likely enough [you didn't tell us what your payments on the ccards and student loans are], you can’t be a conforming loan with a down payment.

your taxes and insurance payments will be brutal as well. guess taxes at 7500/yr and insurance payments about the same … that’s 1250/month alone.

300k at 8% on a 30 yr loan is 2200/month P&I, so you’re up to 3450/month or so PITI, plus your ccards at a minimum of 300 and student loans at 900/month?? [help us here] equals a total of 4650 or so a month in payments. your income is 9167/month and so your total payments would be WAAAY above the guidelines of 32% to 36% max.
References :
ex-mortgage banker

]]> By: garrisonbight http://www.zerodownwebsite.com/no-money-down-mortgage/will-i-get-a-300000-mortgage-with-no-money-down-in-south-florida/comment-page-1#comment-842 garrisonbight Wed, 11 Nov 2009 13:17:59 +0000 http://www.zerodownwebsite.com/no-money-down-mortgage/will-i-get-a-300000-mortgage-with-no-money-down-in-south-florida#comment-842 NO... especially with a credit score that low... but there is NO MONEY FOR MORTGAGES right now... even banks aren't lending to each other.<br><b>References : </b><br> NO… especially with a credit score that low… but there is NO MONEY FOR MORTGAGES right now… even banks aren’t lending to each other.
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]]> By: smiles :) http://www.zerodownwebsite.com/no-money-down-mortgage/will-i-get-a-300000-mortgage-with-no-money-down-in-south-florida/comment-page-1#comment-841 smiles :) Wed, 11 Nov 2009 12:37:59 +0000 http://www.zerodownwebsite.com/no-money-down-mortgage/will-i-get-a-300000-mortgage-with-no-money-down-in-south-florida#comment-841 With my income at around 40k, I was approved for I believe about 110k. I didn't have much debt at all (small 6k school loan) and I have excellent credit. Taking this information, I think you may only get approved for around 200k with all your debt. Make sure that you try out for the first time home buyers loan if this is your first- your interest rate will be about 1% lower.<br><b>References : </b><br>home owner With my income at around 40k, I was approved for I believe about 110k. I didn’t have much debt at all (small 6k school loan) and I have excellent credit. Taking this information, I think you may only get approved for around 200k with all your debt.

Make sure that you try out for the first time home buyers loan if this is your first- your interest rate will be about 1% lower.
References :
home owner

]]> By: kita http://www.zerodownwebsite.com/no-money-down-mortgage/will-i-get-a-300000-mortgage-with-no-money-down-in-south-florida/comment-page-1#comment-840 kita Wed, 11 Nov 2009 12:01:59 +0000 http://www.zerodownwebsite.com/no-money-down-mortgage/will-i-get-a-300000-mortgage-with-no-money-down-in-south-florida#comment-840 Sorry, you need 10% down.<br><b>References : </b><br> Sorry, you need 10% down.
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]]> By: Miss V http://www.zerodownwebsite.com/no-money-down-mortgage/will-i-get-a-300000-mortgage-with-no-money-down-in-south-florida/comment-page-1#comment-839 Miss V Wed, 11 Nov 2009 11:22:59 +0000 http://www.zerodownwebsite.com/no-money-down-mortgage/will-i-get-a-300000-mortgage-with-no-money-down-in-south-florida#comment-839 You just might. Make sure you work with a Realtor who can assist you in finding a property that has a lot of equity in it. For instance, if it's worth $375,000 and you get it for $300,000 that's great! Don't worry about the student loans right now. Most people in a professional position such as yourself have a large amount at a low interest rate.<br><b>References : </b><br> You just might. Make sure you work with a Realtor who can assist you in finding a property that has a lot of equity in it. For instance, if it’s worth $375,000 and you get it for $300,000 that’s great! Don’t worry about the student loans right now. Most people in a professional position such as yourself have a large amount at a low interest rate.
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]]> By: kevin h http://www.zerodownwebsite.com/no-money-down-mortgage/will-i-get-a-300000-mortgage-with-no-money-down-in-south-florida/comment-page-1#comment-838 kevin h Wed, 11 Nov 2009 10:41:59 +0000 http://www.zerodownwebsite.com/no-money-down-mortgage/will-i-get-a-300000-mortgage-with-no-money-down-in-south-florida#comment-838 It might be difficult with no money down, at least to get a decent interest rate. I would look for a house that is selling for around 225 or 250 and offer like 175-200. It's a buyer's market, so take advantage of it. Something else you might want to consider is getting a place that is really cheap and needs a little work. You do the work yourself to make it comfortable for you, you hang out there for a few years with a monthly payment of just 800 or 900 bucks, pay off all your other bills, and then sell that place, get a decent profit. Now you have say 30-45 grand that you can put down, no debt, and a credit score that is high. Just my thoughts.<br><b>References : </b><br> It might be difficult with no money down, at least to get a decent interest rate. I would look for a house that is selling for around 225 or 250 and offer like 175-200. It’s a buyer’s market, so take advantage of it. Something else you might want to consider is getting a place that is really cheap and needs a little work. You do the work yourself to make it comfortable for you, you hang out there for a few years with a monthly payment of just 800 or 900 bucks, pay off all your other bills, and then sell that place, get a decent profit. Now you have say 30-45 grand that you can put down, no debt, and a credit score that is high. Just my thoughts.
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]]> By: RanaBanana http://www.zerodownwebsite.com/no-money-down-mortgage/will-i-get-a-300000-mortgage-with-no-money-down-in-south-florida/comment-page-1#comment-837 RanaBanana Wed, 11 Nov 2009 10:00:59 +0000 http://www.zerodownwebsite.com/no-money-down-mortgage/will-i-get-a-300000-mortgage-with-no-money-down-in-south-florida#comment-837 You might but the #1 reason for foreclosure is people buying homes without a down payment. No down payment = higher interest rates & much larger mortgage payments.<br><b>References : </b><br> You might but the #1 reason for foreclosure is people buying homes without a down payment. No down payment = higher interest rates & much larger mortgage payments.
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