An important step towards
finding the best home for your and your family, and helping you to get the best value, is
to consult with a loan officer to determine your "purchasing power." A
loan officer will initially provide this confidential service without charge, or for
approximately $65 for a thorough credit check. With pre-qualification or
pre-approval by a mortgage company, you will be in a much stronger position to negotiate
the price of your new home in this very competitive market.
The price you pay for a home
is a combination of three things: a down payment, the mortgage loan amount, and
closing costs. You probably know how much cash you want to use for a down payment,
but you must also know how much the closing costs will be and how much financing you can
obtain. Remember: There is NO STATE INCOME TAX in Texas, but taxes,
insurance and homeowner's Association fees can consume as much as a third of your
mortgage payment, so be sure to figure this into your calculations!
Please feel free to use the
mortgage links below to help you have a head-start in determining your purchasing