Before you blindly sign a contract on your future home, invest a few hours into researching the area. According to expert mortgage lenders from Texas Lending, you can save yourself time, money, and misery by getting to know the area where you want to live before you make a life-altering commitment.
Q: I already know what kind of house I want. How much does the neighborhood really matter?
Texas Lending: More than you might think. Your ideal home maybe priced just right, with a big yard, and plenty of privacy. However, what goes on just beyond your property line can have a huge impact on your quality of life. Check the area’s crime rate and ask around about any industrial operations or landfills which might create air or land pollution that you’d rather avoid. Continue reading
The New Year is traditionally a time when people look for new beginnings. For some, this means starting a gym membership, enrolling in school, or giving up an old vice. However, according to the mortgage experts at Texas Lending, the one resolution everyone should consider is revisiting their financial situation and making a plan for the coming months.
First things first – credit cards. Texas Lending representatives explain that credit card debt is the single most detrimental financial crisis for many homebuyers. A good rule of thumb is that credit cards not paid off at the end of each month are being used too much. If this is the case, it’s the perfect opportunity to see where spending habits may be altered to reflect a more realistic financial lifestyle that fits better with available income.
Finding the right neighborhood is important. Read on as Texas Lending explores ways to pick the perfect community for your next new home.
Q: What sort of things should I look for during my initial search?
Texas Lending: Before you even begin browsing the MLS, take some time to write down what you really want. Is it access to top-notch schools? A community swimming pool? Do you need a large yard or want to live in an HOA neighborhood that provides lawn care? Your “wish list” is going to be as unique as you.
A failing foundation can make or break a home buyer’s decision to sign a contract, warn the experts at TexasLending.com. Unfortunately, many prospective owners assume that minor issues are not a big deal. Read on to find out more.
Q: How do I know if there is a problem with the foundation of a home I am interested in purchasing?
TexasLending.com: Oftentimes, these issues are not exposed until the home inspection phase of your purchase. If discovered, you are still out the cost of the inspection and possibly the appraisal as well. A few things you can look for during the initial walk-through are uneven floors, windows and doors that get stuck or don’t shut all the way, or cracks along the brick exterior or in the interior drywall.
TexasLending.com is one of the area’s leading providers of VA loans. Our experienced mortgage professionals work closely with U.S. servicemen and women to ensure a stress-free transaction every time. In the following brief question-and-answer session, we have provided basic information on VA loans and the home buying process.
Q: What is a VA loan?
TexasLending.com: A Veterans Administration (VA) loan is a loan guaranteed by the Federal Government on behalf of eligible/entitled veterans. These loans were first made available in 1944 when the U.S. Congress approved the Servicemen’s Readjustment Act, which offered certain financial benefits to soldiers returning from war.
Rebuilding your credit score is a lot like building a house. You must start with a good, solid foundation and pay attention to the details. The mortgage experts at TexasLending.com offer this advice:
Know your credit score
According to the financial advisors at TexasLending.com, your credit score tells lenders a lot about you. For instance, a bank can determine how long you’ve been paying your bills on time and just how much of your credit you’re currently using. Keep an eye on your credit report and score and remember, a higher score opens more doors!
Mix it up
Try to keep a good mix of different credit accounts. TexasLending.com suggest having a proportionate number of installment and revolving loans. However, avoid applying for a bunch of different loans at once, as that can raise red flags for potential lenders.
Texas Lending has earned a reputation as one of the Lone Star State’s leading mortgage providers. Here, the finance experts offer advice on saving for your biggest investment.
Q: How can I save for a down payment?
Texas Lending: Saving for a down payment can be a daunting task for homeowners, but it’s much easier once you get past the first $1,000! The first step is to create a monthly budget. You’ll need to take a close look at your spending habits and decide exactly how much money you want to save each month. Track your progress if possible and above all, stick to the plan.