The first steps for buyers


Pre-Qualified Live Oak FL Homes
If you are like many other buyers out there interested in purchasing in the Live Oak FL area, you may be wondering where to start. While searching online for homes can help you become more familiar with the Live Oak market in general, you may also be looking at properties that will not work in conjunction with your preferred method of financing. Below I will explain why it’s a great idea to go ahead and speak with a lender first!

Always speak with a lender first!

They will go over different loan types with you explaining what would be the most beneficial for you and your family. They even know about different programs for first time homebuyers as well as grants you can receive. However, all loan types, grants, etc. are not compatible with all property types. For instance, if you’re getting money through SHIP there are certain requirements that must be met. If you plan to purchase a manufactured home it must be less than three years old. That’s something you wouldn’t typically know before looking into the financing aspect further.

One common question I get from buyers who are first starting out on their Live Oak FL home search is “How much of a down payment is required?” This is something that is determined by your lender; not the seller, listing agent or your agent. If you are approved for a USDA loan, there is no down payment required. If your credit is on the rocks and you are approved for a conventional loan, you will likely be required to put down a larger down payment.

One BIG reason to speak with a lender first is so you don’t miss out on the best deals! A large majority of foreclosure listings in Live Oak or anywhere will require that you present your pre-qualification letter with your offer. The best deals go quickly and many have multiple offers. If sellers receive multiple offers on a property, even if the offers are the same, if one buyer can prove they are pre-qualified it will make their offer much more appealing to a seller.

Contact me if you would like to get in touch with a lender! I know of local loan officers who are excellent at helping buyers get free money!