Florida Prestige - International Luxury Properties
Luxury Properties
Foreign Investment Miami Condos

Tips for First Time Buyers

  • 10-20% of the purchase price of the home as a down payment. 20% is preferred, and you will find that banks will love you! It may also help you get a lower interest rate.
  • About 2% of your mortgage (loan) amount as closing costs
  • 2 months worth of living expenses to remain in the bank (the bank will want you to have some left over cash for emergencies.)
  • You should have good to excellent credit to qualify for a mortgage. If your credit is poor, you may have a hard time finding a bank or mortgage company that will offer you a mortgage.
  • If you have never bought real estate before, you can take money out of your IRA without a penalty! Check with the IRS for more information.
  • As a homeowner, the interest you pay on your mortgage interest and real estate taxes is tax deductible. If you set up your W-4 forms properly with your employer, you can start to see more cash in each paycheck as a direct result of having additional deductions. How much extra? Well, as a general rule of thumb, add your mortgage payment to your monthly real estate tax payment and multiply by your IRS tax rate. That's a rough idea of how much extra cash you will see.

Tax Benefits - Click here to view a table to calculate your tax benefits

If you need more information just call us:

Analou Manent
Real Estate Agent in Miami - Sunny International Realty


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Miami Condos, Miami Beach Real Estate, Condo Conversions and Condo Hotels. We specialize in luxury properties and condominiums for sale and brokerage services related to buying and selling Miami condos.

Analou Manent - Realtor
Sunny International Realty - 17000 Collins Avenue Suite 256 - Sunny Isles, FL 33160 - Ph: 305-948-3062

Designed by Patrick et Analou Manent - Copyright © 2010 Florida Prestige. All rights reserved.