Who this is for
Buy a Home in Texas
Before you make an offer on a home in Texas, Bert goes through what you can afford, which loans fit and what you'll need at closing. A first call is a conversation, not an application.
Common goals for home buyers
- Get pre-approved before you shop
- Know your monthly payment before you make an offer
- Pick a loan that fits how long you'll stay
- Not knowing how much you can borrow
- Saving for the down payment and closing costs
- Lining up the loan with the closing date
What can get in the way for home buyers
The steps, in order
A first conversation, then a review of your goals and finances, then comparing loans. After that come a secure application, your documents, underwriting, and final approval and closing. No approval is implied before underwriting.
- 1.A first conversation
- 2.A review of your goals and finances
- 3.Comparing loans
- 4.A secure application
- 5.Your documents
- 6.Underwriting
- 7.Final approval and closing
Loan types
Loans home buyers often look at
Conventional
A home loan with no government agency behind it.
FHA
A government-backed loan many first-time buyers look at.
VA
A home loan benefit for eligible veterans, service members and surviving spouses.
USDA
A loan for homes in eligible rural and some suburban areas.
Jumbo
For loan amounts above the conforming loan limits.
DPA
Programs that may help with the down payment and closing costs.
Before you call
Questions for home buyers to bring to Bert
- What monthly payment would I be comfortable with?
- How much cash will I need at closing?
- How long does pre-approval take, and what does it need from me?
Educational disclaimer
This page is general information and does not imply automatic eligibility or a commitment to lend. Eligibility depends on your complete scenario and underwriting review. Discuss your situation with Lending 11 Up.