You can buy a home in Florida whether you live there or somewhere else. Local newspapers, individual lenders, and mortgage brokers are the best places to get up-to-date mortgage information. Before you look for a lender, you need to decide where you want to buy your home. This will depend on how much you can afford for a mortgage payment and on other things that may be important to your family, like the crime rate in the area and the schools in the district where the home you are thinking about is located.
You can find out about local and national lenders who do business in Florida by talking to your bank or looking on the Internet. You can even apply for a mortgage online, but it's always best to meet with the lender in person before making a final decision. Compare the interest rates, fees, and services that different mortgage lenders offer to find the best deal for you. Know the warning signs of a predatory lender, like if they make you borrow more than you need or can afford to pay back, charge you too much in fees, make you lie on your application, or give you a much higher interest rate than you qualify for based on your credit. If you don't understand how a mortgage or contract works, you can get help from a counselling service that has been approved by the US Department of Housing and Urban Development.
Once you've found the house you want to buy, compare its price to those of other houses in the area and hire a licenced home inspector. For peace of mind, have a real estate lawyer look over the small print in your mortgage contract, and don't sign anything you don't understand. If you use all of these tips, buying a home will be a better experience for you.
