Broker / Owner of AATRealty
If you're flexible in where you can/want to live, you can look into a no money down USDA mortgage.
The downside is USDA is only available in certain areas like Trophy Club & Little Elm.
One of the best things about this mortgage is the monthly mortgage insurance is substantially less than an FHA or conventional mortgage and that's with no money down.
Here's an example: An FHA mortgage of $155,000 is going to have a monthly mortgage insurance payment of $174.37 but on a USDA mortgage it's only going to add $51.66 to your monthly payment.
The other nice thing is you can actually roll your closing costs into the loan as long as the appraised value supports it.
Please feel free to contact me for more information or help. You can also find info on my USDA Mortgage website by clicking the link below.
Senior Mortgage Banker
Peoples Bank & Trust
As a 1st time homebuyer in North TX there are not a whole lot of assistance, other than some special programs that are community designated and I will be happy to discuss them with you as most are income based.
Going shopping for a mortgage. It may seem backwards to shop for a mortgage before you shop for the house, but there are several reasons for doing this. Shopping for a mortgage will also help if you can get â€œpre-approvedâ€ for the amount youâ€™d like to borrow. This means the lender has looked over your credit and financial statement and agreed to lend you the money. Sellers like pre-approved buyers because thereâ€™s less risk the deal wonâ€™t go through. First, youâ€™ll find out how much you can borrow, which has a lot to do with how much house you can buy. Be careful not to let the lender you push you into a monthly payment you donâ€™t feel comfortable with. Get my top 25 Questions you should be asking your lender before you choose them to secure a mortgage.
Ensuring that you make the right choice for you and your family is my ultimate goal. And I am committed to providing my customers with mortgage services that exceed their expectations.. As always, you may contact me anytime by phone, fax or email for personalized service and expert advice.
I look forward to working with you!
16800 N. Dallas Pkwy, Suite 290 | Dallas, TX 75248
Office: 972-646-2411 | Cell: 214-418-7022 | Fax: 214-614-4637
Bank of England /dba ENG Lending: NMLS# 418481