Thank you very much to all that have taken the time to answer. I hope that very soon I'll need to avail myself of a realtor and in that case I'll be contacting some of you. Thank you. HD.

Talk to 3 different lenders. You will get a feel. Sounds very reasonable. Where do you want to live?

Please feel free and contact me to discuss your scenario,

brad@leadermortgageservices.com
Leader Mortgage Services
954-205-5444

I would give Michal Bander a call at Guaranteed Rate, 954-684-9227. He works for a direct lender which can save you money.

Call me at 786-258 6804 to go over your possibilities to purchase your imcome, credit score and no debt are the key points, I like to share to programs available that will allow you to purchase with the $10K you have on hand.

Hd, you qualified for a government program additional to FHA which is 3.5% with fix interest. There are many Government program helping buye. This programs exist and is another way to help our economy to rise. If you need help and an experience agent in Government Program, please let me know. 305 519-3199, or nfigueroa3199@hotmail.com

Hi Hd,

If you go with an FHA loan you'll only need 3.5% of the purchase price for a down payment so you may not wipe out all of your savings.

For example: If you take the highest figure in your price range, $170,000 and multiply it by 3.5% you get $5,950.00. As far as closing costs are concerned it's pretty common to request that the seller pays them for you.

Hd, I'm going to break the mold a bit and say save up your pennies until you have at least 15K in the bank. While you would be able to manage a down payment and closing costs, that would leave you with few reserve funds, and that's precarious.

If you are in the process of buying your home for the first time here are somethings you can consider:
1. Is it time to buy?
Now a days it's better to buy than to rent. You 'll be paying more rent than mortgage. So buying is the smart thing to do.
2. According to what you've disclosed you can easily qualify to buy a property up to $150k. That's would represent a monthly mortgage of up to $1400 with everything included (maximum)
3. You don't have to put all of your savings... There are some government programs that you might qualify in which the governent will give you up to $10k to buy your first home. You can call me to find out if you qualify. Additionally there are some banks that will pay some or all of your closing costs.
I can keep on going, but let me know if you have any additional questions.

Have a great nite!

Hello Hd;

Based on the info you have provided your best purchase is $150,000. Based on your current cash in hand, you will need to finance FHA with an initial 3% down payment, try to get the max allowed closing cost and your PITI (Principal, Interest, Taxes, Property Insurance and Mortgage Insurance) should not exceed $1472.13 and this brings a DTI Ratio of 37/37 (APPROVED). My suggestion is to interview a few realtors until you find your perfect fit. You do this task by searching for realtors in the area that you have an interest this way you don't waste your time with realtors that do not know the area. Remember, your purchase price should be based on your comfort in PITI NOT the highest that you qualify. You have great credit and this will allow you to qualify for a greater loan....DO NOT make this mistake. Best of Luck! Need any further clarifications contact me at iiromero@aol.com

You've already taken one of the steps in the process of buying a home by getting your credit report. Next step is to talk to a bank/lender about prequalifying for a loan.
While prequalifying for a loan doesn't necessarily guarantee that you will be able to purchase the home of your dreams, it does help you and potential lenders know your borrowing power and what you can afford in terms of a monthly mortgage payment. Prequalifying for a loan simply means that you have taken an inventory of your income and assets and submitted them to your potential lender. Based on that information you should be able to qualify for a home mortgage loan.
Once you're prequalifed, find yourself a realtor whom you feel comfortable working with.
Hope this information helps you.

Call me, i can help you to get a loan based on your income.
Werner Velasquez
786.838.2578

Look for a pre qualification letter firts so you can know the range of price that you will be able to affort. Call me and I will point the way for you. Pedro Borras 786 539 8333

FHA requires 3.5% down plus closing costs. Maybe you can work a seller contribution in your deal to
Offset your expenses at closing.

Check for a referral and get yourself a realtor you feel comfortable with. Right now is a great time to buy, so I say get going and good luck