Home Buying in Houston>Question Details

kjrillie, Home Buyer in Houston, TX

Is there someone I can speak to regarding purchasing my first home?

Asked by kjrillie, Houston, TX Fri Aug 2, 2013

I have already tried to be pre approved with no luck because of my credit score. I am currently working with a credit counselor to help fix my credit. Some of the questions I have are listed below:
1. when using bond 79 is their a penalty if my income increases after purchasing a home?
2. an estimated of how much I can afford with a combined salary of 85,000 and 700 dollars in student loans monthly?

and many more questions Does anyone know of a person I can meet with to help me plan so I can be on the right track of purchasing my first home in the next couple of months?

Help the community by answering this question:


Congratulations on your decision to purchase your first home! It is a big decision and with the right help and guidance it can be a rewarding experience. Be careful when working with a credit repair/counselor. Sometimes working directly with a lender can benefit youin the long run, as the lender can suggest ways to improve your score (Pay this now, leave this one alone.etc.). A lender doesn't make any money on the repair service until you actually get a mortgage. Therefore, they really do have your best interests at heart.

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.


Kathy Ellis
Keller Williams Realty Professionals
8101 Cypresswood Drive
Spring, TX 77379
1 vote Thank Flag Link Fri Aug 2, 2013

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
NewHomePrograms.com, LLC.
16300 Kuykendahl Suite 340
Houston, TX 77068
Office: 832.290.7003
Ph: 832.377.1721
Fax: 281.674.8729
Email: Brandon.Jenkins@NewHomePrograms.com
0 votes Thank Flag Link Mon Aug 5, 2013
I will be more than happy to help you with purchasing your first home. Speaking with a loan officer or mortgage broker is the first thing that you should do. I can provide you with a few names so you can see what they have to offer. He/she can help you find out the price of house you can afford. It is always better to buy a less expensive house so you have extra money for unexpected expenses. Please call or email me and I will make every effort to make your experience buying your first home a pleasant one. I look forward to hearing from you.

Pam Bratcher
Century 21 Paramount
0 votes Thank Flag Link Fri Aug 2, 2013

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.

0 votes Thank Flag Link Fri Aug 2, 2013
With an income of $85,000 annually your monthly gross is over $7000. Let's say your comfortable spending 1/4 of that on your mortgage, that's $1750 which would be about a $190,000 home. More than likely the lender will determine your cap though based on your past credit history, income, current debts, etc. Call me if you would like me to set up an automated search for you while you continue to work on your credit. 281-798-4100
0 votes Thank Flag Link Fri Aug 2, 2013
I would love to assist you with any questions you may have. Please give me a call or send it via email. Talk to you soon.

Jeffrey Tarver
0 votes Thank Flag Link Fri Aug 2, 2013
It's probably going to take more than "a couple of months." Entries on credit reports take at least thirty days, and the pre-approval process will also eat up some time. Are you working with one of those "credit repair" outfits? Frankly, they can't do anything that you can't accomplish on your own.

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.

Regards ...

Al Geffon
(713) 213-6350
Web Reference: http://www.har.com/algeffon
0 votes Thank Flag Link Fri Aug 2, 2013
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