am the REALTOR who will remain your best Friend for Life "
us to purchase your next home?
Home Buying Process
supply the best tools to assist you "The Home-Buyer"
accomplish your dream of Home-Ownership.
Direct link to
the North Texas MLS
Free Online Search of
North Texas MLS NTREIS System
is the key to today's Real Estate and that
is what we are good at. Our MLS search
system is the most up to date and shares with most
other Real Estate online sites and is therefore
posts automatically within hours of the original
MLS posting. Most important you
will hear from a representative of DFW Metro
Housing at least twice a week and all calls are
returned within hours if not minutes. We
make ourselves available to you 7 days a week.
Real Estate 101
What a lot of home buyers
don't realize is that, apart from the down payment 3.5 % with an FHA mortgage needed to buy
a home, there are other associated
closing costs. Closing costs such as Loan setup fees, attorney and title fees
and pre-paid Insurance and Property taxes. These
expenses normally add up to about
5% to 6% of the price of the home.
This means you are going to need about 9.5% of the price of the home
to be able to purchase this home.
For those of you who s income
level is below the 80 Annual medium Income level (IE
Family of 3 $49000) there is some form of government
grant money available normally from $7500 to $10000.
seller is also allowed to contribute up to 6% of the
selling price in buyer concessions with an FHA, VA or
But only 3% on a conventional loan. This money is
normally used to pay some of or all your closing costs.
This means that when searching for a home
we must find a seller that has
enough equity in their home to be able to afford
to sell their home and give you 6% and still pay their
own seller closing costs.
Anyone wanting to obtain a
mortgage loan will need at least a 640 credit score.
Sometimes we can find lenders that will work with a 600
but that always means that the underwriting will be done
manually and your application is going to be scrutinized
and very difficult.
Here are a few ideas on building
your credit score if you believe it is lower than a 640
Revolving credit. Revolving credit is
the type of credit that builds your score. A car
payment will not help your score but a credit card will as
long as you use it widely and try to keep the balance at
about 20% of allocated credit Example: $1000 credit never
owe more than $200 at any given time and always pay the
bill on time.
for an Orchard Secured Credit Card
Apply for a Capitol One Secured credit Card
2) Paying off
current Debt reporting: If any item is report on a
monthly basis on your credit report try to call the debtor
and make payment arrangements (Don't worry about any old
debt that has gone into collection and no longer
3) Make sure
everything is paid on time and never ever late. Just one last payment on
anything could and often does effect your credit score as
much as 100 points. It takes one month to cost you
100 points and a whole year to rebuild again.
4) Eliminate all
You cannot have any judgments, Tax liens,
outstanding student loans that have late payments and
please beware of Bad rental History can also effect your
Free Credit Check and Mortgage Loan
View an Online seminar on Home-loans
Sr Loan Originator
Mortgage & Investments, Inc.
NMLS ID 144975
Parkway, Suite 400
a Home-loan you need a 640 credit score. To rebuild you
credit score you need