Buying Real Estate
Buying Real Estate property can be very stressful and challenging, but we can help you navigate through the process. There are many variables that go into buying a home, and knowing these potential issues before the process is started can save you a lot of trouble and money.
Things to Know About Buying Real Estate:
A home warranty is a service contract that covers the repair or replacement of many of the most frequently occurring breakdowns of home system components and appliances.
Know the Market.
Know how financing could affect your offer.
How types of loans, like FHA or VA, could affect your offer.
Using a Realtor® traditionally has no cost to the buyer.
Residential Service Providers.
Inspections, and appraisals.
I am a Texas Realtor® that will help make sure that each of these variables are handle as smoothly as possible.
Your REALTOR® can help you determine your buying power.
Your REALTOR® has many resources to assist you in your home search.
Your REALTOR® can assist you in the selection process by providing objective information about each property.
Your REALTOR® can help you negotiate.
Your REALTOR® provides due diligence during the evaluation of the property.
Your REALTOR® can help you in understanding different financing options and in identifying qualified lenders.
Your REALTOR® can guide you through the closing process and make sure everything flows together smoothly.Use the Property Price Calculator below to determine what amount you will feel comfortable with paying each month.
Approximate price of house:
Know What You Can Afford
Consider these factors:
Down payment: Most loans require a down payment. The amount varies, but 20% of the purchase price is typical. If you’re a first-time buyer or fall below certain income thresholds, you may qualify for affordable housing programs. Generally, a higher down payment means better loan terms and a lower interest expense on the mortgage.
Qualifying for a loan: A lender will determine how much he thinks you can afford based on your income, employment history, education, assets (e.g., bank account balances, other property, insurance policies, pension funds), and debt.
Check your credit report before the lender does to clear up any problems.
Your comfort level: You don’t have to spend $200,000 on a home just because the lender says you can afford a $200,000 home. Do some math and determine what you’re comfortable spending.
Steps to Buying a Home
1. Make Sure Your Finances are in Order.
2. Get a Realtor.
3. Get a Loan Pre-approval.
4. Look at Homes.
5. Choose a Home.
6. Get Funding.
7. Make an Offer.
8. Get Insurance.
9. Close The Loan.
While affordable housing means different dollar values in various markets, its objective is to provide all Texans with the opportunity to buy a home. Find the Program That Can Help You The Texas Association of REALTORS® created TXHomePrograms.org to help homebuyers like you find the program that matches your situation.
Texas REALTORS® believe that knowledge is power for consumers, particularly those who are striving to afford their first home. Here are links to some online resources that can help you achieve your dreams of home ownership. Affordable housing programs available to you:
Department of Veterans Affairs
Consumer Affairs Service 810 Vermont Avenue, NW Washington DC 20420 800-827-1000 www.va.gov
Rural Housing Loan Programs
Department of Agriculture Rural Development/Rural Housing Services Mail Stop MC-0701 1400 Independence Avenue, SW
Washington DC 20250 202-720-4581
FHA- Resource Center
1-800-CALL FHA (800-225-5342)
IMPORTANT: This information is intended for informational purposes only and under no circumstances should it be considered legal advice.