A Realtor can help you with all the other parts of buying your home. They can help you decide what you really want and need, and then assist you every step of the way until that home is yours!
I love working with First Time Homebuyers and would love the opportunity to assist you with your first home purchase. If I can be of further service to you, please feel free to contact me directly.
Keller Williams Realty Professionals
8101 Cypresswood Drive
Spring, TX 77379
Congrats, on making the big step. Deciding to get things in order and following through on that decision is the most defining step in buying a home. In regards, to your question about the bond 79 programs. I would think that an increased income would not result in a penalty. The penalty typically in these programs comes into play when you sell the home before the secondary lien is forgiven. Here is a link to a document I found online that goes into more details...http://webcdn.ehousingplus.com/wp-content/uploads/TDHCA-guid Also, since you are considering bond 79, do not forget that you can still use assistance from the Mortgage Credit Certificate Program as well. My team and I work on a regular basis with this and other programs that assist First Time Home Buyers. In addition we also have exclusive and strong relationships with bank and builder programs that make owning a home more affordable as well.
Kjrillie, I can not really give you an answer to your second question. I do not have enough information. What I need to know is how much monthly you are paying to any other recurring and installment account you have. The student loan is an installment account, but you may have others. Is there any furniture, electronics, or appliances you have financed. Do yo have any credit cards? Car Loans? etc? These all have to be considered with looking into how much you can afford. I can understand not wanting to post all that information here. I am available to talk with you tonight, if you would like. Also, not to bash your credit counselor, but we at NewHomePrograms.com have our Credit Enhancement Program, that walks you through much of what you are doing now, for FREE. I will post the link below.
Thank you for your time and God Bless.
Brandon R. Jenkins
16300 Kuykendahl Suite 340
Houston, TX 77068
Century 21 Paramount
Generally when you have to work on your credit, it takes a little patience to get it to a point to where you can be pre-approved. If you try to hurry thinking you can make it work marginally, you may risk losing a potential property after you have spent time and money on it.
Good lenders are able to give you tips on what you need to take care of to improve your creditworthiness. They can also check on the Bond 79 information to see how that would work out best for you. You have a pretty decent salary, however, depending on what expenses you have, and also the price of the home you want to purchase will determine what you can get approved for, in turn giving you an idea of how much you can afford to buy.
If you are still looking for contacts, please email me.
You need to speak with a lender ... the individual whose company is actually going to lend you the money. I work with several excellent ones, any of whom can certainly guide you in the right direction. Your annual salary and student loan payments are nowhere near what information you need to determine your creditworthiness.
Please get in touch ... I'll be happy to refer you to a couple of lenders.