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Old 03-15-2010, 11:27 AM
 
155 posts, read 507,393 times
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Hi guys, well I have made the move to FL and now I am ready to start the process of buying a home. Step # 1 I need to find out what I qualify for, so I would like to hear all of your recommendations for a trustworthy, knowledgeable mortgage broker. I am a first time homebuyer and really need someone who is patient and will guide me in this process.

PS...realtor rec's also appreciated if you have one.
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Old 03-16-2010, 06:07 AM
 
2,143 posts, read 8,031,415 times
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My advice is to start with a bank.
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Old 03-16-2010, 05:02 PM
 
87 posts, read 360,952 times
Reputation: 52
Alot depends on how good is your credit...banks have really tightened up on conventional loan lending...if you are not stellar you will most likely be turned down and have to go FHA route...If you can get a conventional loan would be great and you should do that through a bank if possible...a mortgage broker (if savvy) can help make you look good to apply for a loan if your credit not perfect and will be more diligent about getting you the loan as his/her fee depends on it...hope this helps...
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Old 03-17-2010, 12:04 AM
 
155 posts, read 507,393 times
Reputation: 91
Thanks for the input everyone. So my credit score is around the mid 700s. Being a first time home buyer, shouldn't I go FHA? Or should I just go through a bank? Is it better to go through a bank as opposed to a mort broker when one has decent credit? Ahhhh, I'm so confused!!!
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Old 03-17-2010, 07:11 AM
 
Location: Palm Beach County
1,708 posts, read 4,398,422 times
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Shop around, start with the banks, or if you are in a credit union. You can get approved from a couple lending institutions without hurting your credit .
Your credit doesn't sound like it will be the issue. Things to be concerned about are how long you've been at your job, how much you are putting down, and what your debt to income ratio is.
If you are going FHA you will have to stay away from most condos.
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