Why Applying For A Texas Mortgage Is Easier Than You Think

3 Reasons Why Owning A Home Is Easy In Texas

Many people refer to owning a home as the “American Dream.” Owning a home comes with several obvious benefits. However, some of these benefits are not so obvious. Some people think it is hard to own a home. It is very easy, and here are some of the reasons why owning a house is easy:

1. 20% Down Is NOT Needed!

You can use the right lenders, grants, and programs to buy with 0% down. First-time buyers can get this from the key bank because the bank offers it as a part of their community service. And you can put down as little as 3% with other loans. Of course, you can improve your offer and lower your rates by bringing more to the table at closing. However, we know it is very hard to save up to 20% in this day and age. This is because of the rent we are facing here in Denver and our daily expenses. But it is possible to attain 20%, which you do not have to use to buy a house.

2. You DON’T Need To Have A Perfect Credit Score!

It is possible to get mortgage loans with any credit score. 720 gets you better rates, but 620 gets you good rates. Do not stop working on your credit because it does not hurt to work on it. However, having the best credit ever does not matter. They accept average credit, but you may never get the best rates as the rates the lenders with 720 or 800 get. But it will never keep you from owning a home. We have amazing connections, and the people in our office are willing to help! So, if you want to start the process, please call us today!

3. The Programs For First Time Home Buyers ACTUALLY Work!

You can find the best fitting home buyer program by shopping around. Several options offer grants to first-time home buyers, and these buyers do not have to pay them back. There are stipulations on the kind of properties you can purchase and how long you will live in the property in some of these programs. The programs have different options, making them a great option in the future. Also, you can reach out because we have information about these programs.

It is now an ‘unattainable’ dream for several millennials and later generations to buy a house because of a lack of education on you how to buy a home. You may think it is hard. It is not that hard! Once you get in there, you see what you qualify for, and you bite the bullet to do it. You can contact us now for advice and guidance!

The Importance Of Owning A Texas Home

Applying For Mortgage In Texas: Can It Change Your Life?

You may be aware that right now it is a buyer’s market for those seeking to purchase a home for the first time. The market has yet to completely reset from the housing bubble experienced years prior. As such, there is greater inventory than there are shoppers for those homes. There are numerous markets in which homes are going for under half of what they may have brought a decade ago. Access to entry is not terribly difficult to achieve, either, as anyone with a steady job and proof of income is likely to receive loan pre-approval. There are many local governments that also offer incentives and grants designed to facilitate first-time home purchases so that empty properties can be filled. This helps a city’s tax revenue, overall culture, and safety statistics.

This all begs the question of why higher numbers of prospective buyers are not jumping at the chance to get into the game. There are always those who do not wish to take out a home loan. They prefer to live with the freedom to move whenever they choose. There are also individuals who are concerned about assuming a massive financial obligation like a mortgage. They may assume that they cannot afford a home loan, but the fact is that they probably can. This is a tremendous time for people to take advantage of current conditions and start reaping the rewards of ownership that include the following:

1. Monetary Savings

Given that a mortgage payment is likely to be far lower than what you might pay in rent for comparable property, you have the freedom to put vast amounts of money into savings or into other financial priorities. A property that would cost $750 monthly to rent may only cost $500 a month to purchase with a mortgage. That amounts to some real savings that can lead to financial independence.

2. Equity Building

When renters write their check every month, that money has disappeared and will not produce any further value. But by making a mortgage payment, homeowners continue to build equity in the property that they can use in the future. Having a stake in the home’s value can help provide a buffer during times of financial uncertainty, including unexpected job loss or illness. Homeownership is a true investment that can build financial security to last for years.

3. Happiness

There is nothing like the sense of satisfaction that comes with making the big decision to purchase a home. While it is a major undertaking, for sure, buying something that is within your means can lead to fulfilled dreams of making your house a place you truly love to be. You will take pride in putting down roots in your local community and enjoy all the fruits of living a more permanent lifestyle.

The bottom line is that homeownership brings with it a seemingly endless list of positive attributes, and there has never been a better time to explore your options. Market conditions are perfect for you to take a leap, so consider initiating the process today.

Before making a decision, let one of the experts at Mortgage Lending Texas help you find out exactly what loan is best for you.  Feel free to contact us or call us today!