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New member here

Posted on: 15th May, 2012 04:46 am
Hi,

My first post. I live in Boca Raton, FL. I have a few questions and hoping the good folks here can help.

1. I have not owned a home for the last 5 years but did previously. Someone told me that I could be thought of as a first-time home buyer. Is this so? If yes, what benefit would this be for me?

2. I have 20% I can put down on a house. What is the best loan for me?

3. Can anyone give me some names of reputable mortgage companies here in South Florida?

Thanks in advance! :D
Bobh05261;

Being a first time home buyer will not give you any benefits. There used to be a tax break for first time home buyers however that expired.

With a 20% down payment, you would qualify for a conventional loan which would be the best loan for you. The type of loan would be determined based on your short and long term goals. Whether you want to keep the home for a long time or sell in a few years. I represent Sterling National Bank which is a very reputable bank. I would be happy to pre-qualify you at your earliest convenience.

Best Regards;
Posted on: 15th May, 2012 05:03 pm
Hi bobh!

Welcome to forums!

If you did not own a property in your name for the last 3 years or more, then you can be considered as a first time homebuyer by the lender while giving you the loan. You may qualify for certain benefits that first time home buyers qualify for. As you have 20% down payment, you can qualify for conventional loans. You can check out the given page in order to know the names of some of the mortgage brokers: "http://florida.brokeroutpost.com/loans/mortgage_broker_directory.asp".

Feel free to ask if you've further queries.

Sussane
Posted on: 15th May, 2012 07:45 pm
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