Part 2: First Time Home Buyers

You can purchase a home with as little as 3-5% of a down payment. Here are some things to start your home buying preparation:

Danielle Desousa - Refinance

INCOME / EMPLOYMENT:

  • FORECLOSURES, SHORT SALES, BANKRUPTCY (*There are compensating factors, loan type, credit score, debt to income, employment history etc)​
    *In most cases, it is important you have built up your credit since the event. Based on individual circumstances
  • Have you been at the same job or same line of work for over 12 months? We need 2 year employment history. We can use college.
  • First Time Home Buyer Palm Coast FL
  • SELF EMPLOYED: Are you self-employed? Claiming the correct income on your tax returns is an important variable. If you are self-employed and write off most of your income on tax returns, we do have a loan for you, using 24 months of bank statement deposits. Contact me for more information
  • Are you married? Separated? Florida law requires a equitable division but also states that in most cases equitable means equal. If you are separated but not married, your spouse will need to sign purchase documents.  Read more.
  • Can you keep house payments at or 48% of your monthly gross income?
  • ​Do you pay child support? This is considered part of your “liabilities” and part of your debt to income ratio. Debt to income ratio
  • PROOF – Start a folder, put your most recent paycheck stubs, find your last 2 years of tax returns, most recent bank statements, IRA’s, 401k’s etc.
  • ​​Be prepared to provide A LOT of paperwork! It may feel like an invasion of privacy, but EVERY buyer has to go through it!
    • It is for YOUR protection, to make sure you’re not getting in over your head!
    • ​The government has set new guidelines that now demand that the bank prove beyond any doubt that you are indeed capable of affording the mortgage. During the run-up in the housing market, many people ‘qualified’ for mortgages that they could never pay back. This led to millions of families losing their home. The government wants to make sure this can’t happen again
    • The banks don’t want to be in the real estate business. Over the last seven years, banks were forced to take on the responsibility of liquidating millions of foreclosures and also negotiating another million plus short sales. Just like the government, they don’t want more foreclosures. For that reason, they need to double (maybe even triple) check everything on the application.

NOTE: second jobs under 12 months will not count for loan approval, but may be good to save up down payment $.

NOTE: ALL INCOME MUST BE SOURCED, CASH IS NOT ACCEPTED  when purchasing a home


ASK ME ABOUT FREE PET ADOPTIONS!

~~Solutions. Results. Reliable~~
Mortgage Lender serving Palm Coast, FL and surrounding counties.  

Danielle Desousa
Mortgage Loan Originator
NMLS #1649268
Hours: Mon-Fr 8a-6p (hours may vary)
Apply Now: www.ddesousa.com – click Apply Now

First Time Home Buyer? Check out this FB Group: https://www.facebook.com/groups/302375513753568/


Pet Friendly Lender

Danielle Desousa is originally from beautiful northern Michigan, but has lived in Daytona Beach and Palm Coast Florida since 2000. She is a graduate of Daytona State College with a bachelor’s degree in Business Management and has more than 17 years of experience in the real estate and mortgage industry. As a mortgage loan originator, she uses her experience and true entrepreneurial spirit to help clients succeed in their goals as well as to bring an enhanced quality of life to families and the community. Danielle is married to Paul, and together they have one son. She is also an avid pet lover and, in her free time, enjoys going with her family (including her doggies) camping and exploring areas in their travel trailer. Danielle is passionate about her community and giving back. She is a huge advocate of Flagler Humane Society, and is a committee member of the Flagler Humane Society thrift store, and an affiliate of Young Professional Network of Flagler County Association of Realtors. Danielle is a mortgage loan originator who thrives on solutions, results, and reliability. She serves Palm Coast, FL and the surrounding counties. Call, text, or email Danielle with any questions you may have or to schedule an appointment. FLAGLER PET-FRIENDLY LENDER! As a lifelong animal lover, volunteer, and a "mom" of many pets over the years, I know the amount of love an animal brings to a family. Therefore, I feel there is no better way to celebrate your new home than by adopting a pet to make it complete. Contact me today for more information about local shelter PET ADOPTIONS!

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