Home Buying in East Dallas>Question Details

D, Home Buyer in Dallas, TX

First time buyers

Asked by D, Dallas, TX Tue Aug 12, 2014

Hi!
Husband and I have relocated to Dallas from overseas. We have never owned in the USA and we are looking to buy a townhouse in the East Dallas/ Uptown area. We are aware of the deposit we will need to borrow, but I'm curious about additional costs for things like property taxes and home insurances... Is anyone able to enlighten me on this system and how often and roughly how much will need to be paid.
Also, is there other fees and expenses when buying property? E.g. transferring the title etc.
Kind Regards
D

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Answers

5
Contact any lender of your choice for loans, fees and criteria needed to purchase a home, then select 1 realtor and work with them only on buying what you want.
http://www.tcrdallas.com
0 votes Thank Flag Link Fri Aug 15, 2014
For assistance with financing for overseas borowers relocating to the US or Foreign Nationals borrowers, contact me at 713-777-9996 Ext 103 to discuss.


John Broussard
Account Executive
Newbridge Home Loans
john@newbridgehomeloans.com
http://www.newbridgehomeloans.com
0 votes Thank Flag Link Wed Aug 13, 2014
In order to buy here in the USA you would need to demonstrate a 2 year history of income if you want a Traditional Loan i.e. FHA, VA, USDA, or Conventional. I have done many loans for US Citizens who have been working aboard, that's not the issue, the issue is documenting or proving income.

Since there are many US Citizens who work for cash and have paid no taxes in years, those are the ones who will need some special handling. As far costs are concerned, it just depends on what type of loan you can get. Closing cost are generally 3% of the sales price depending on the loan amount. Let me know if you need assistance, I am here in the DFW.

Best of Luck!
Web Reference: http://www.AFN-Loans.com
0 votes Thank Flag Link Wed Aug 13, 2014
You'll need 3.5% down for an FHA loan, or 5% down for a conventional loan. As a rough estimate, use 3.5% for closing costs. I'm in the Dallas area. Would you like the name of a reputable lender? Send me a private message since Trulia won't alert me if you respond here.

I'm an Exclusive Buyer's Agent in Dallas. EBAs represent buyers only so there is no conflict of interest to jeopardize your negotiating position. Let me know if I can help.


Don't Let The Make a Monkey Out of You! Follow the link below.


Alysse Musgrave
Consumer Advocate
Exclusive Buyer's Broker
HelpUBuyAmerica.com
0 votes Thank Flag Link Tue Aug 12, 2014
It depends on which home you are purchasing. For home insurance, I would suggest that you call a few insurance companies for guidance. For property tax, check out http://www.dallascad.org/. You will need to also consider the HOA fees for townhouses or condos and the amount is different depending upon the property. Typically the majority of your fees will come from your lender.

I'd be happy to assist you if are not currently working with a realtor. You can call me at 469-371-2899 to discuss.

Take care,

Susie Kay
United Real Estate
469-371-2899
http://www.dfwdreamhomes.net
0 votes Thank Flag Link Tue Aug 12, 2014
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