First Time Home Buyer in Florida

    If you are a first time home buyer in Florida, it is easy to allow the details of your impending decision get the best of you. But, with just a little bit of valuable information, your transition from former renter to homeowner can go off without a hitch.

    NSH Mortgage is located in Florida and our staff is ready to take your hands and walk you through the home-buying process.

    Purchasing your first home is a huge step and although the feeling associated with it can be a bit stressful, it can be one of the most rewarding decisions of your life. Remember, you must do some research before purchasing your first home. Do you research and pretty soon, you can be opening the doors to your very first home.

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    Here is a copy of our First-Time Home Buyer Tips.

    When you make the decision to purchase your first home, the first thing that you need to do is determine how much you can actually afford to pay. Just to get a quick idea, use an online mortgage calculator to get a rough estimate of how much your mortgage payment will be for the price of the loan that you want. A basic mortgage calculator will ask you to input a few details such as the loan amount, loan term, interest rate and credit profile. For example, a person looking for a $250,000 loan with a rate of 5 percent for 30 years can expect to pay somewhere in the neighborhood of $1,654.55 per month. However, do not forget that using a calculator online is strictly an estimate, and actual monthly payments can vary greatly. Also keep in mind that if your income is only $2,500 a month, getting such a large mortgage payment will end in financial ruin. It is estimated that your mortgage payment should b between 25-33% of your monthly income.

    After you start getting an idea of what your payments will be like after your have gotten your first mortgage loan, the next step is to go out and actually acquire one. Find a good real estate agent who is willing to walk you through the entire process of estimating the down payment, pre-qualifying for a loan, as well as finding a home that suits your needs.