Home Buying in Prosper>Question Details

Bh, Home Buyer in Dallas, TX

I need some help for a real estate / mortgage pro. I am a first time buyer and single with 2 kiddos that are

Asked by Bh, Dallas, TX Mon Apr 6, 2009

with me part time. I would like to find out what I might qualify for and if there is something I might like in the McKinney, Prosper, Frisco area.

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9
Hello BH,

You have received some good information below. Your first step is to get pre-qualified for a loan so you know where you stand financially. I work the Frisco & McKinney & Prosper areas a lot so I am very well aware of the inventory. The Frisco paper had a great article this weekend about how well single family homes are selling in Frisco and around it.

The city of Frisco also is one of the very few cities that still has a down payment assistance program for first time homebuyers...

Please call me or email me and I will be happy to share with you everything I know.

Naima
214-289-8555
Naima@Sumner-Realty.com
Web Reference: http://www.SumnerRealty.com
1 vote Thank Flag Link Mon Apr 6, 2009
Ryan highlights great points. To sweeten his statements even further the Obama administration has changed the $7,500 tax credit of the previous administration from a loan to a full refund of $8,000 after taxes are deducted. Thisamount can be applied to either your 2008 or 2009 taxes as long as you purchase and fund by Nov. 30, 2009. Many people who are filing extension on their 2008 tax return if they know they are going to purchase. I am also working with a CPA that is resubmitting 2008 with the adjusted tax credit for a refund this year as oppoed to waiting until 2010.
If you would like to know more about his important topic then please email me at Thad@thadjarrett.com. If you would like to discuss I am happy to help as I am just down the road from you in Austin, TX (512) 633-4393. You may also visit my website at http://www.thadjarrett.com and go to the free report section. I will have important documentation available in the next few days.-Best Wishes, Thad Jarrett
Web Reference: http://www.ThadJarrett.com
1 vote Thank Flag Link Mon Apr 6, 2009
With the interest rates at historical lows and the $7500 tax credit for FTHB, this is a great time to buy. Here are some numbers to think about.

$100,000 purchase price
3.5% down= $3500
4.5% interest rate for 30yr fix mortgage
Monthly Payment= $494
Taxes= 2000k year= $166 per month
Insurance $750 =$62 per month
Mortgage insurance= $42 per month

Total Payment= $766 can you rent for that amount??

Buying a home MUST make money sense. If its less expensive to buy then to rent and you can build wealth by paying down your mortgage....do it!

I would love the opportunity to help you better understand the numbers. Here is my contact information below:

Best of luck to you!

Ryan Brandenburger
Licensed Loan Officer
954-394-9005
1 vote Thank Flag Link Mon Apr 6, 2009
Hi Bh,

Congratulations on being a first time homebuyer! That's very exciting! Are you aware of the $8000 tax credit for first time homebuyers that purchase between Jan 1-Dec 31, 2009? If not, you can find out all about it by going to our website http://www.MarciaLevine.com.
If you would like some names of Lenders, I would be happy to give you some referrals of Lenders that I work with on a regular basis.

Please let me know if we can help you,
Marcia
The Marcia Levine Team
Web Reference: http://www.MarciaLevine.com
1 vote Thank Flag Link Mon Apr 6, 2009
I am a realtor and loan officer "one stop shopping for all your real estate needs" I this area fairly new construction and foreclosures with equity.

However all is based on what you can qualify for short/long term goals.

CONTACT OUR OFFICE TODAY
972-699-9111
Lynn A. Crosby ~ National Featured Realtor
"...Specializing in Residential, Commercial Properties and Loans..."
Dallas Realtor, and Credit Repair Consultant -
The Michael Group - "Dallas Business Journal 08' list top realtors"
Dallas Loan Officer - Homewise Lending
Dallas Real Estate Office: (972) 699-9111
Dallas Real Estate Website: http://www.lynn911.com 60,000 listings Dallas homes for sale
1 vote Thank Flag Link Mon Apr 6, 2009
As the others have mentioned. Getting preapproved for a home loan is your first step. From there it will be easier knowing both how much you are wanting to spend on a home to narrow the search further.

I both live and work this area and can direct you to some great homes once you're ready.
0 votes Thank Flag Link Sun Sep 26, 2010
Bh
With such a broad area as represented by McKinney, Prosper and Frisco you will have little problems finding a new home. Also there are multiple financing alternatives available to the first time home owner. The best approach would be to meet with a real estate professional who would be able to narrow your house hunt to much more specific goals. I'm sure that you do not have the desire or the time to be running all over the area seeking some possible match for your needs. Rather you need to take the time, with an experienced agent who specializes in Frisco, McKinney and Prosper, to identify some concrete needs and desires who can also help you find a reputable lender that can help you with the widest financing recommendations affordable by you.

We would be pleased to help you and offer the added savings of our commission share home buyer rebate program. Please visit either of our web sites; HomesofProsper.com or CollinCountyHomesllc.com
I know we can help!
Bob Luckock
Broker
Collin County Homes LLC
972-347-1344
0 votes Thank Flag Link Thu Aug 6, 2009
Bh

First: Get pre-approved by a local lender.
Expect them to ask for 2yrs w-2 and 3o days of paystubs as well as 2 months bank statements. If the loan officer doesn't look for all of that, then they aren't doing you a good job!!

Rhonda below suggested Rodney. He is a good loan officer and works at my company.

Do you have a realtor?
0 votes Thank Flag Link Tue Apr 7, 2009
BH,
I would suggest you speak with Rodney Anderson at Rodney Anderson Lending Services, A Division of Supreme Lending. Rodney is the #1 loan officer in Texas. You can listen in on Rodney's radio show on Saturday mornings on 105.3fm at 9am. And, he does Good Morning Texas with Brenda Teel Jackson each week. 1-800-express is the number, or 972-985-5208. He's my personal lender, my team lender on the Keith Dobbs Team at RE/MAX Dallas Suburbs, and the lender I most refer because of his proven track record with my clients. In fact, I met him through one of my clients. And, yes - he's as nice as he seems on his TV commercials and he really means it when he says he wants to be your lender for life.

Have a blessed day!
Ronda


Ronda Allen, Realtor
Certified Purchasing Manager
Keith Dobbs Team at RE/MAX Dallas Suburbs
0 votes Thank Flag Link Tue Apr 7, 2009
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