Home Buying in Dallas>Question Details

BiancaD, Home Buyer in Arlington, TX

Does anyone have any experience with LGI Homes? I'm really ready to be a homeowner.

Asked by BiancaD, Arlington, TX Mon Dec 30, 2013

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8
Bianca,

With any builder I would advise that you get an approval from a lender of your own choosing, and use your real Estate Agent as well. many builders have relationships with lenders and title companies, and forcing you to use them is illegal. I always think people should use an agent even when buying a home from the landlord or relative just to make sure the contract is correct. When buying from a builder it makes sense always as well.

My program requires that all properties are fully inspected before closing for the protection of the buyer. I had a new home last year in which the inspection revealed a cracked beam in the attic. A typical walk through probably would not have caught that, and I hate to think what would have happened otherwise.

My program also requires no down payment, closing costs, mortgage insurance or perfect credit. You can find out details at http://www.naca.com. In order to get started you just need to attend an orientation to learn about the program and how to get approved ASAP. I am giving the next one, the information is below.

Christian Stronghold Baptist Church
Date: 01/25/2014
Time: 9:00 AM - 1:00 PM
Language: English
6810 Samuell Blvd
Dallas, TX 75228

John Lyng
Mortgage Counselor - NMLS 280951
JLyng@naca.com
0 votes Thank Flag Link Fri Jan 17, 2014
Work with any 1 Realtor only to find what your needing and wanting.
http://www.tcrdallas.com
0 votes Thank Flag Link Fri Jan 3, 2014
I would suggest working with a realtor to help you with your home purchase and give you advice on builders.

Susie Kay, Realtor®
GRI, CHMS, SFR
Residential/Commercial/Investment
English-Indonesian-Hokkien
------------------------------------------------------------------
United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240
469-371-2899
susie_k@att.net

http://www.dfwdreamhomes.net

Servicing your real estate need is my priority!
0 votes Thank Flag Link Mon Dec 30, 2013
Happy to assist you show you the difference between builders and etc. what to look for. Professional code of ethics prevents any Realtor make any negative comments

My website is updated daily therefore saves you time search accurate information

Contact my office today where I can show you many amazing homes work with your family specifications.
_________________________________________
Enjoy your holidays & Happy New Year

Lynn911 Dallas Realtor & Consultant
Multimillion Dollar Sales Producer
972-699-9111
http://www.lynn911.com 100's of Dallas homes listed for sale or lease

Follow me on Facebook and Twitter
http://www.facebook.com/lynn911dallas
https://twitter.com/Lynn911

(If my answer is helpful indicate by THUMBS UP or BEST ANSWER. Thank you )
0 votes Thank Flag Link Mon Dec 30, 2013
You would want to research this company thoroughly as I believe they have only been around for the last couple of years. You would want to ask about any warranties they provide and about the experience of the builder. I would suggest you walk around the neighborhoods where they have built and talk to the homeowners, this is your best source of information. I have not had clients chose them for a new home, on the contrary I had 2 clients that were tuned off by the attitude of the sales agent.
0 votes Thank Flag Link Mon Dec 30, 2013
Thank you for the advice!
Flag Thu Jan 2, 2014
Dear Bianc D,

There is some good advice below. Another tip since you are ready to be a homeowner I would recommend is getting preapproved for a loan and get started on the lending process now rather than waiting until you find the home you prefer.

Many cities now are experiencing an inventory shortage making it a seller's market. What that means for you if you end up deciding to make an offer on an existing home there is a very good chance there will be multiple offers the seller is getting you will have to compete with.

Most people only get pre-qualified when they start shopping which is based on your credit score, your stated income and stated assets. A preapproval takes it further and an underwriter will review your credit report, your income documents and assett documents and approve you for a loan up to a certain amount, subject to review of the property once you find one.

This carries a lot more wait with the seller who will see your offer as less risky and more likely to close. If you end up having multiple offers even if a little higher it may help you take priority over the others. I would highly recommend it. There usually is no upfront cost to you. You usually only pay an application fee or appraisal fee once you make your application specific to a property. Futhermore, you may be able to close quicker once you make an offer because much of the underwriitng information has been completed. It would be a good idea whether you are buying a home from a builder or exisitng home already.

If you would like to find out more or get started please feel free to contact me. I can email you some more information.

Anthony Regner NMLS 513607
Mortgage Loan Originator
Cobalt Mortgage # 35653
(512) 659-1627
anthony.regner@cobaltmortgage.com
0 votes Thank Flag Link Mon Dec 30, 2013
LGI builds a lower cost home, meaning the quality of the materials isn't always great. You get what you pay for, I guess. In D/FW they build far outside the metroplex so that their communities allow buyers to qualify for USDA financing (0% down).

Here's the problem. A lot of these neighborhoods...where buyers get in for 0 down...end up having an unusually large number of foreclosures in a few years. That's troublesome. Make sure you don't overpay because once the foreclosures start happening, the value of your property will drop and you'll be upside down on your mortgage, at least for a while. Plan on staying in the house for at least 7-10 years are you might lose a lot of money.

Still if it's your only option, and you can stand the drive, it may not be a bad option.

Best place to start is to hire an Exclusive Buyer Agent. EBAs only work with homebuyers and there is never a conflict of interest that will jeopardize your negotiating position.

I am the owner/broker of one of Dallas' oldest and most successful Exclusive Buyer Agencies, HelpUBuy America. We charge a flat-fee for our services, so our fee is the same regardless of whether you buy a $150,000 home or a $500,000 home. This eliminates the conflict of interest that exists when you an agent is paid a commission based on the sales price of the home.

We've been protecting the rights of first-time homebuyers since 1995, and we'd love to assist you. I've also had a book published on Amazon called Buying a Home: Don't Let Them Make a Monkey Out of You. It'll teach you how to buy a home without getting ripped off.

Let me know if we can help.
Best of luck!

Alysse Musgrave
214-734-3863
Alysse@HelpUBuyAmerica.com
http://www.helpubuyamerica.com
0 votes Thank Flag Link Mon Dec 30, 2013
Thank you! I'll definitely keep you in mind.
Flag Mon Dec 30, 2013
Sorry Bianca, I haven't worked with them as a REALTOR.
0 votes Thank Flag Link Mon Dec 30, 2013
Thank you for your response
Flag Mon Dec 30, 2013
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