By Jared Weggeland
Focus Realty Group
Buying a home in Lakeland FL can seem a little daunting, especially if you are a first time home buyer.
Let's say for example that you're searching to buy a home for about $150,000 in South Lakeland and wanting to make the purchase using an FHA loan.
With an FHA loan that means that you will need about $5,250 for an initial investment (3.5% is the current FHA loan minimum down payment). It could be about $4,500 (about 3%) in loan fees and closing costs. All in all that could be about $9,750 out-of-pocket to purchase your new home with this "affordable" loan program.
- What if you could find and purchase this same home with very little out of pocket?
- What if you could get assistance that would pay the initial investment and completely cover the down payment?
- What if that assistance also covered all of your closing costs?
- What if that assistance could lower your DTI (debt to income ratio) by increasing the down payment amount?
Well, today may be your lucky day! Did you know that in Polk County Florida, and some surrounding counties, first time home buyers, or those who haven't owned in the last 3 years, could qualify for up to $15,000 in down payment and closing cost assistance? That could mean that you have very little out of pocket to purchase an available home in Lakeland now!
There are household size and income requirements, and also credit requirements to qualify for this special mortgage program. So, what are you waiting for? Why not request a pre-approval today? What's the risk?
The experts at Focus Realty Group, KW Lakeland, can get you started now. Call or text 863-640-2246 or contact us online today!