You have made a bold step and an exciting milestone to buy your first home. As you prepare for this significant purchase, this article is here to help you avoid surprises and feel more confident during the process. Here are the steps you need to follow when buying a house for the first time in Florida.

Assess Your Financial Situation
The first step to your home ownership journey is to assess your financial situation, set a budget, and highlight areas in need of improvement. Calculate your debt-to-income ratio (DTI) as most lenders use it to determine your ability to pay back your loan. Some lenders will check your work history for the past two years to confirm if your income is stable.
Determine the amount of money you can comfortably set aside for a home down payment. Confirm if the cash available in your savings is enough to cover closing costs and other fees while leaving you with additional funds for repairs, expenses, or emergencies. Most importantly, check your credit score as it dictates your home?s interest rate. Most mortgages require a minimum credit score of 620. You can visit AnnualCreditReport.com for free yearly credit reports with Experian, TransUnion, and Equifax. Explore Your Home Financing Options
This is the perfect time to explore the different Florida Down Payment Assistance Programs and other mortgage lending options available. When choosing a financing option, pay attention to borrower qualification requirements, service ratings, available mortgage...