David Companik, Realtor® | Blog


Buying in Texas

Whether you are a seasoned buyer with several closings under your belt, or a first time buyer on a journey to home ownership, you need to know about current market trends, affordable financing options, contracts and closings, and effective negotiation strategies. Taking the time to do this homework before you buy will help lead to the purchase of an exceptional property at an affordable price – with significantly less confusion and headache during the process! I’ve compiled some tools and resources here on this page for your convenience.

As a Texas Realtor®, I spend my workdays providing the answers you may be searching the internet landscape to find. My knowledge of real estate financing, local market values, available properties, and smart purchasing techniques, is a resource you won’t find contained in these pages. If you are preparing to buy property, you need a true professional at your side. I am here and ready to help – call or e-mail me today!

Buying in Texas

  • “Buying Your Home” – TexasRealEstate.com – Step by step walkthrough of the purchase process, buying tips, and more. This resource is provided by the Texas Association of Realtors®.
  • Mortgage Payment Calculator – Realtor.com –  Input your principal loan amount, fixed interest rate, & term (e.g. 30 years), and this calculator outputs the Principal and Interest (P&I) monthly payment amount required to repay the loan on a fully amortized (equal monthly payment) basis. Keep in mind: P&I does not include the taxes, hazard insurance, and mortgage insurance costs that many residential lenders and loan programs require to be paid on a monthly escrow basis. Discuss this with your Realtor® and lender for more details.
  • Finance Calculators – Realtor.com –  Online financial calculators to help you factor home affordability, mortgage payments, fixed vs. adjustable rates, home insurance costs, and more! A must-visit page that will help you understand and estimate the costs of home ownership.
  • Zillow.com – Great source for local community information regarding median income, demographics, and local schools. The school information in particular affords a lot of detail about class sizes, student/teacher ratio, average exam scores, and more. The page will open to Madisonville community details, but you can enter a different city or zip code at the top of the page.
  • HouseLogic.com – “With content covering home improvement, maintenance, taxes, finance, insurance, and even ways you can get involved in and enrich your community, HouseLogic can help you increase and protect the value of your home by helping you make confident decisions.” This resource is provided by the National Association of Realtors®.

 

First Time Homebuyers, Texas Veterans, & Affordable Housing Assistance

  • TexasRealEstate.com – What is affordable housing? What financing programs are available in Texas? Find answers to these and other questions at TexasRealEstate.com under their “Affordable Housing” section.
  • Texas First Time Homebuyer Program – “Begin a lifetime of homeownership through the Texas First Time Homebuyer Program (FTHB). This program allows qualified Texans access to competitive interest rate home loans and down payment and closing cost assistance. Homebuyers who have not owned a home within the past three years, who meet program income guidelines and who do not exceed the program’s purchase price limits are eligible to apply for a loan under the program.”
  • Texas Home Programs Texas Home Programs provides a summary of housing-related programs for homebuyers in the state of Texas. A number of programs provide homebuying assistance to individuals based on income.”
  • Texas Veterans Land Board (VLB) – Are you a military veteran or active duty member residing in Texas? You may qualify for the VLB loan programs for home, land, and home improvement financing! With competitive interest rates, low down payment requirements, and other great features, this is a resource with much to offer. Visit the VLB website at TexasVeterans.com to learn more about these valuable services and determine your eligibility!
  • USDA Rural Development – “Single Family Housing Programs provide homeownership opportunities to low- and moderate-income rural Americans through several loan, grant, and loan guarantee programs. The programs also make funding available to individuals to finance vital improvements necessary to make their homes decent, safe, and sanitary.”

 


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