Qualify Purchase for Dallas Condo For Sale Dallas Townhomes For Sale 

Uptown Condos For Sale, McKinney Avenue Townhomes For Sale, M Streets homes for sale

RECENTLY ASKED BY A CLIENT publish an email "....what is would require to purchase a Uptown condo for sale, McKinney townhome for sale OR M street home for sale..."

Copy of the email I sent to my client searching purchase $300K property

1. Don't allow anyone to pull your credit will reduce your credit scores
2. Don't purchase anything on credit till AFTER you close reduce your credit scores
3. Apt complexes require 60 day move out notice RECOMMEND:  if you don't like anything to purchase go month to month cost more however worth than "stuck in 6 or 12 month lease" 
4. All sales offers are submitted with proof funding from a mortgage broker 
5. Search for a property AND CLOSE takes up to 60 days to complete ......UNLESS short sale or foreclosure  IF lender accepts offer can take 120 days or more !  
6. NEVER fall in love with condo / townhome till proof that lender will accept the property for financing AND if ratio homeowners/ tenant works within guidelines to purchase .... at times this can cause major problem

WHAT TO SAVE FOR OVER NEXT SEVERAL MONTHS

1. FHA loan requires 3.5%  - or + of purchase price for down payment
2. NOTE:  I am rounding UP budget for more than money than require .  All is based on $300K purchase 
3. Downpayment $300K purchase $10,500 required by lender at closing PROOF of funding MUST be in your account for loan approval 
4. CLOSING COST :  rounding up $5000
5. Total on $300K purchase anticipate to have approx. $15,000  in an account 
6. Adjust totals based on purchase amount 
7. Home inspection $400 - or + 
8. Appraisal $400 - or +
9. Escrow money - applies towards your closing  cost is approx. 1% of purchase price ... this money would be include in "$!5K est for you to have "

MONTHLY PAYMENTS: WOULD KNOW MORE when based upon approval

1. Property tax approx. $500 per month - or +  of approx. $6000 per year based on property value
2. Insurance approx. $125 per month 
3. HOA approx  ... NOW purchase single family home no HOA except yard maintenance runs approx. $100 - or + here AND HOA would cover a certain % of insurance these figures could be adjusted 
4. Total of these miscellaneous fees $800 per month - or +

INTEREST RATES AND EST MONTHLY MORTGAGE PAYMENTS  - or +

1. Currently approx. 4.5% however no one can predict 4 months down the road
2. Would put you in the $1500 - $1900 per month include the insurance, tax, HOA , mortgage payments

KEEP IN MIND YOU RECEIVE ANNUAL TAX BENEFITS
Owning a home you receive annual tax benefit - confer with CPA

Contact my office :  Lynn911 Dallas Real Estate Services offer: 

• Dallas homes for rent by owner click here
• Dallas rentals, Dallas Apartment Locator cash back up to $500
  
• Dallas Home Buyer Rebate program earn up to 75% of our
• Dallas real estate commissions Dallas Seller Flat Fee Listing $995