Anne, Home Buyer in Dallas, TX

I make a little over 50k a year.I want buy something a house/condo. Can I afford Lakewood/LakeHighland area?

Asked by Anne, Dallas, TX Fri Dec 14, 2007

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5
Lynn911.com Dallas Realtor’s answer
You need to be pre-approved for a loan, therefore a realtor knows how to effectively work with you.

I have seen some GREAT Dallas foreclosures in that area you might want to consider that are below market value.

I am a Dallas real estate agent, Dallas home mortgage loan officer.
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Tue Apr 29, 2008
Anne, check the website below for guidelines as to how much house you can afford. And don't let a Realtor talk you into buying so far beyond your reach that you are a slave to your house payment. Leave some money for life. Lakewood prices have risen so much in the recent past that it simply may not be practical to consider buying there.


http://www.freddiemac.com/homeownership/ready_to_buy/how_muc…
0 votes Thank Flag Link Sat Nov 2, 2013
I agree that pre-qualification is a must in order to ascertain the various scenarios in which you might be able to afford a new home. I would suggest you look into what they call the L-Streets in Lake Highlands. You can still find a nice home with hopefully not too much updating necessary. Lakewood might be a little pricey, unless you go condo, in which you can still get something nice in the the Oaks of Lakewood in that range or perhaps something in the Bois Du Lac on Richmond.
0 votes Thank Flag Link Sat Dec 15, 2007
Anne,

It is going to be contingent upon how much debt you have or don't have. If you manage your finances well, it is a good possibility. But as Bruce said earlier, getting prequalified first is the correct first step. This way you know just exactly how much your able to purchase, and you do not end up wasting alot of your time looking at product that is not within reach. If you have financing questions please feel free to email: Al@yourdreamloan.com Al Hewitt will be more than happy to help.
0 votes Thank Flag Link Fri Dec 14, 2007
Anne,
What we need to do is get you prequalified for a loan first. It's really not how much you make, but your total financial picture that we need to evaluate. Lakewood might be a little pricy, but I think you can potentially buy on the edges. If you need a referral to a great lender please let me know. He will prequalify you at no charge to you.
Web Reference: http://www.teamlynn.com
0 votes Thank Flag Link Fri Dec 14, 2007
Bruce Lynn, Real Estate Pro in Coppell, TX
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