Whether you are considering the purchase of your first home or trading up to the home your family frequently fantasizes about, there are three crucial questions you must know the answer to:
What is the minimum down payment required to purchase a home?
What is the minimum FICOscore required to qualify for a mortgage?
What is the maximum Back-End DTI Ratio allowed?
A survey conducted by Fannie Mae revealed startling information: most Americans don’t know the answer to these three crucially important questions. Here is a graphic showing the results of the survey:
The percentages are quite disturbing but can explain why so many people believe they are not eligible to purchase a home whether it is a first home or a trade-up home. Here are the actually requirements as per Fannie Mae:
Bottom Line
If you are considering purchasing a home, make sure you are aware of all your options before moving forward.
Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.
You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently. You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.
Home Tips from Teri is a monthly email newsletter offering tips for saving money, home maintenance, safety, and just about anything else you can think of.
This month’s edition, Six Steps To a Foolproof Football Feast, includes tips for throwing a game day party including pre-party planning, decorating, menus and snacks, as well as game day attire. Everything you need to create a fun party for you and your friends!
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For more information on Orlando real estate, visit OrlandoAvenue.com.
Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 17 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.
You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently. You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.
9567 Westover Club Circle, Windermere FL 34786
MLS# O4934547
SHORT SALE – Fabulous open floor plan in Westover Club neighborhood of Windermere with the master bedroom on the first floor, 2 large walk-in closets. With over 4,000 sq.ft., there is plenty of room for a large family. 2 zone heat and a/c. Sprinkler system. Kitchen includes upgraded appliances, granite counter tops and island cook top. Sliding glass door opens to the screened enclosed pool area. Upstairs bonus room is ideal for game/theater room. Sold “as is”. Give us a call and take a look inside today!
For more info about short sales, Orlando homes and Windermere real estate, visit OrlandoAvenue.com.
511 E Lakeshore Drive, Ocoee FL 34761 MLS# O4926183
SHORT SALE. Bring your boat and enjoy many hours of fun on Lake Prima Vista that connects to Lake Starke, both are ski and fishing lakes. Seawall, dock and sandy beach. Approximately 1 acre, huge oak trees. Master upstairs. Home needs some TLC. Lakeside Living at an incredible price. The home needs some work but at this price for a home on the Lake with a dock it is a great opportunity. Inside add your personal touches alot of the updates inside are complete. The previous owner added a huge family room all permited correctly. The exterior needs work but at this price you could create your own elevation and dress it up. Lakeshore is a beautiful treed street with access to Starke Lake from Lake Prima Vista too for you watersport enjoyment. Seawall is grandfathered in and the dock is waiting for your boat! Great deck out back to enjoy evening sunsets and there is a room off the master with windows that could also be changed to doors if you ever wanted to add an upstairs deck. So what are you waiting? Give us a call for your private showing!
Call toll free for more information… 877-962-4242. Ask for Teri Isner or Tricia Schneider.
Learn more about Orlando homes for sale by visiting OrlandoAvenue.com.
