Texas Real Estate FAQ’s
I receive a lot of good questions all the time from people about real estate in the San Antonio area. Here are some of the most asked questions I get. Feel free to email me with any question you may have in reference to real estate and your particular need.
1.) Do I need 10-20% down to buy a house?
Answer: No, those days of placing down 10 to 20% are way behind us and I don’t see it coming back anything soon. There are programs in place which allow purchasing a home with 0% (VA and USDA), 3.5% with a FHA loan and my preferred lender only ask for 5%. *I cannot show favoritism on this page, but contact me & I’ll be happy to share the direct contact information for the lender who accepts these low down payments). Hint: You can see it on my Resources Button at the bottom of this page. 😉
2.) Will my monthly payments increase year over year?
Answer: The actual mortgage payment will not increase over the term of your loan or the interest rate if you have a fixed rate loan.
What will change are your property tax and cost of homeowner insurance on the home.
Although the changes are not normally much year over year. You may see a slight increase or decrease in some cases which doesn’t occur to often.
3.) Do I have to have a perfect or high credit score to buy a house?
Answer: No, your credit score does not have to be perfect or extremely high to buy a home. You must be able to show the lender you can afford a mortgage, have a good work history on the job and; qualify for a mortgage. A lot of the lenders now actually work with applicants to get them in a position to buy. The ways of qualifying for a home isn’t as hard as you think.
4.) Do I need a Realtor to Buy or Sell a house?
Answer: The answer is 100% YES!
A licensed Realtor like myself will help you negotiate the terms of the contract, connect you with lenders and; offer qualified home inspectors so you know what you’re buying.
On the sell side a licensed Realtor like myself will help you prepare your home to sell, cover all the legal aspects involved in selling a real estate, give you the current market value of your home and assist you with buying your next home.
5.) When is it a good time to speak with a Realtor if I am considering to Buy or Sell?
Answer: The time to speak with a Realtor about buying or selling is now.
If doesn’t matter if you are several weeks, months or even a year out from deciding. The main reason you talk to a profession Realtor is you are wanting clarity and; guidance on your next move.
We actually are okay with talking about real estate all the time since most of us love our job we enjoy talking about it all the time.
I would love to hear from you, so please send me questions. I’ll update the list and add any reoccurring questions. Please send all questions to [email protected] and put “FAQ” in the subject line.