The Real Deal Miami

Home buying easier than many think

February 04, 2009 03:29PM

Foreclosures, incentives and low loan rates are making homebuying easier than many first-time homebuyers think. South Florida brokers are beginning to hold workshops to walk prospective buyers through the mortgage process, partly as a way to get buyers back into the market in a slumping economy. Federal Housing Administration mortgages, which are available for homes up to $345,000 and which require a 3.5 percent down payment, are particularly popular. Home buyers are also taking advantage of many sellers’ offers to pay closing costs.