62% of Buyers Are Wrong About Down Payment Needs According to the ‘2019 Home Buyer Report’ conducted by Nerdwallet, many first-time buyers still believe they need a 20% down payment to buy a home in today’s market: “More than 6 in 10 (62%) Americans believe you must put at least 20% down in order to purchase a home.”…

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Debit to income Mortgage qualifications

What is Debt-to-Income Ratio? If you decided to buy one of the Florida homes for sale you’ll need to know your debt-to-income ratio (DTI). Simply put, it is the calculation of how much of your monthly income goes to debt payments. Mortgage lenders look at the debt to income ratio to see how much they…

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Construction Loan lenders

What is a Construction Loan? Construction loans are temporary loans used to pay for the building cost of a home. They are relatively short term, and a lender usually takes an ownership interest in the building. It is designed for construction and has features such as interest reserves, where repayment capacity is based on something…

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