Answers by Alex Scopino

Hi Pedro! Congratulations on your first steps towards owning your first home! Quite often it depends on the loan type. That might be why you're getting different answers. In my experience here in Florida FHA is around 580 (for 3.5% down) and conventional is 620 +. They all have their plusses and minuses, it depends on what fits you best. I would strongly recommend getting in touch with a trusted lender and asking them. If you don't have one, ask your realtor. Most Realtors work with a few different lenders they can recommend. Best of Luck to you!

In my experience that's a personal choice. Some pros of fixed: Monthly principal and interest payment stays predictable, Easier for budgeting and long-term planning, Protected if interest rates rise. On the flip side an adjustable rate offers: savings if you sell or refinance before adjustments begin, usually a Lower initial monthly payment, Lower initial interest rate. I have found that most people choose the fixed. It's easier to track and maintain and there's no worry of rate hikes Hope that helps!

Hi Trina Sorry to hear of the loss of your job! I would speak to your realtor immediately! I've had a similar situation with a buyer in the past. Here in Floride, typically the buyer is allowed their earnest money returned if they cannot get the loan. I would absolutely get a denial letter from your lender as soon as possible. That should help. Best of luck!

As alot of folks have already said, generally no. That being said, speak to your Realtor about assumable loans. Here in Florida, I have access to a tool that allows me to see assumable loans for homes for sale. If there's such a thing where you live, you may be able to find an assumable mortgage with a low rate. Best of luck!

First off, make sure in the listing agreement you signed, you can in fact cancel without penalties. Here in Florida, You would then want to ask for a signed "unconditional release". That releases you and the agent/broker from the agreement. Best of luck!