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Summary of requirements for buying a house in Florida
There are many requirements for purchasing a home, and the good news is that they also apply to buying a container house throughout the different stages of the process. Below, we present all the requirements for buying a house in Florida.
Financial requirements
- Evaluate credit score
- Calculate debt-to-income ratio
- Determine the down payment
- Include closing costs in the budget
- Property price
Requirements for finding the suitable land for container houses
- Evaluate land characteristics
- Analyze the neighborhood's lifestyle
- Research prices in the neighborhood
- Calculate the growth of your investment
- Buy at the right time of the year
- Look for the best real estate agent possible in Florida
Mortgage Requirements
- Requirements for the mortgage
- Choose a recognized or registered bank or financing company
- Request a mortgage pre-approval
- Avoid making financial changes
- Personal data for prequalification
• Copy of the applicant's identification
• Copy of the applicant's Social Security
• Last 2 years of W-2 or 1099 forms
• Last 2 years of tax returns
• Proof of income or latest pay stub
• Copy of the last 2 months' bank statements
• Bankruptcy or insolvency verification
• Verification of judicial payments or child support (if applicable)
Requirements for making an offer
- Attract the seller by drafting a compelling offer.
- Submit the offer as quickly as possible.
Evaluation requirements
- Hire an expert for inspection.
- Hire an expert for appraisal
- Signing the paperwork and property handover
At MYB, we have Bravo Mortgage as our allied company for credit procedures related to the acquisition of container homes and other financing options. Additionally, we have real estate professionals (realtors) who are knowledgeable about these requirements and how to align them with the purchase of a suitable land for container homes.
Who qualifies as a first-time homebuyer in Florida?
For a quick clarification, a first-time homebuyer is defined as any family or individual who has never owned a home, or at least not in the past three years, depending on the region. Some local programs, for example, suggest that Florida residents are still eligible if they haven't owned a home in the past three years.
As always, when doing your research, read the fine print. Also, refer to the limitations listed below.
And here's some good news: most local programs are not restricted to first-time homebuyers! The emphasis is on assisting low-income families in Florida with the largest purchase of their lives. If you qualify as a first-time homebuyer, we can help and connect you with our trusted allied companies and realtors who will assist you with the procedures.
Write in contact us your data and we will put you in contact with one of our allied companies to clarify your doubts about the requirements and procedures for real estate financing.