As long as your credit is good you should be able to get an fha loan and would only need 3.5% down. Contact me and I can explain what your closing cost will be. I also have a great lender that I can refer you to if you are not already pre-qualified. It is a terrific time to buy. Interest rates are at an all time low and it's still a buyers market. We need to find you a home before the end of April for you to be able to get the $8000 tax credit. Canyon Gate and the subdivision around that area on Northpointe are very nice homes. Looking forward to working with you....David

You should not have a problem qualifying for a 90/10 loan if you have excellent credit & 10% down payment. Based on a purchase price of $150K, calculate 10% = $15K + $5K (apprx) for closing cost = $20K out of pocket expense (apprx. figues). If you need exact figures I can recommend a mortgage broker that I work with. Canyon Gate is a very popular neighborhood on the outskirts of Tomball. Homes prices range from $145K - $255K. Other neighborhoods to consider in your price range are Cypress Point, Willow Creek & Village of Cypress Lakes.

Wow!! You sound like you have done your homework as far as preparing yourself to purchase!! Great Job!! Because youhave excellent credit, I would suggest you shop around to find out the best loan and loan rate for your needs. You can always roll closing costs in the sale of the home but the amount really adds up with interest. Why not shop the best rates then decide if you still want to go 90/10 with the low cost of interest rates right now. Closing costs are "rule of thumb" about 3% of the purchase price when everything is put together. Your Realtor will try and get the Seller to participate as actively as possible. Happy House Hunting!! Please let me know if I can be of further assistance. Cindy W.

Hi there,
That can absolutely be done. You will have plenty. You can always roll the closing costs into the loan or the offer price to avoid paying everything out of pocket. Your lender will require you to put so many months worth of taxes/insurance into an escrow account to hold for payment. That is where the "prepaids" come in to play. Please let me know if you need any help in finding your new home. Thanks!

Amber Carrillo, Broker/Owner
It Homes
ambersells@sbcglobal.net