Home Buying in 78254>Question Details

Unspecified, Renter in San Antonio, TX

Potential first time home buyer in need of help, please.

Asked by Unspecified, San Antonio, TX Fri Feb 8, 2013

I am currently renting with my lease up in Oct. How soon should I start the process? Also, I need information on FHA, Home Path, USDA loans....not sure where to start. Thanks in advance!

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Answers

11
The first step is to speak to a reputable lender now. The sooner you start, the more information you will have to make a good, informed decision. I can help you with that. I am experienced in handling FHA, HomePath, USDA, VA loans, etc. Please call me at your convenience.

Vino Alonzo, Loan Officer
NMLS# 184279
Castle & Cooke Mortgage
210-685-7642
valonzo@castlecooke.com
2 votes Thank Flag Link Fri Feb 8, 2013
Dear Unspecied-

Thanks for asking. That is the first step.

It states that you are in Dallas at the moment. Or are you already in San Antonio? It is good to talk to a lender to get pre-qualified first so you can find out if there are any credit issue that you can resolve or possibly improve upon to get you into a better buying position.

Depending on the loan program you qualify for will somewhat determine the time it will take to close the deal on a home purchase. On average it is between 30 and 45 days from the time you sign a contract to purchase to the day you sign the closing documents at the Title company.

It will generally take about 10 days to find just the right home that fits your lifestyle. So I would need to find out more about the lifestyle you desire in order to place you in the right part of the city to make a fit.

I have information I can send to you that will help you learn more about the whole process. Just contact me and I will be happy to forward it to you. You can learn more about me from my previous clients in the Recommendation section of my profile.

I look forward to working with you.

Gregory Touchstone
Keller Williams Realty
210-660-2834
1 vote Thank Flag Link Fri Feb 8, 2013
Hi!

Definitely start with a great lender who can give you an idea of the options available to you based on income, credit situation, down payment, location, etc. I'd recommend you stay away from the big banks, even if you bank with them. It's best to work with a smaller local lender who has one person (and a staff) that you can deal with personally, and that has their underwriters in-house. They can tailor a loan to you and your needs, rather than trying to fit you into one of just a few products they offer.

Once you've figured out how much you are qualified to borrow, a Realtor can help you narrow down the areas and find homes that fit your needs.

Give me a call or send me an email if you'd like to talk with one of the lenders that have done a great job for my buyers. Best of luck in your search!

Kathy Walsh, Realtor®
Keller Williams Heritage
(210) 862-7721
kathy.walshgroup@gmail.com
1 vote Thank Flag Link Fri Feb 8, 2013
It is best to start as soon as possible. Finding the right property, arranging financing, working with a great Real Estate Agent, and knowing your finances are vital. Do you have a down payment. USDA loans are good, but are very limited by location. FHA and VA loans are great ways to finance if you qualify. Watch out for PMI as it will most likely be necessary when applying for these loans. Conventional loans are tougher these says but still an option if your credit is good and have at lease 10 to 20% to put down. Start with a mortgage broker or lender to get pre qualified - this way you know not to shop out of your comfort zone. A great lender can answer all of your financial questions and will generally be better advised in current requirements. Then look for a good realtor to start showing you homes you qualify for and that meet your needs. Hope some of this was helpful. Send me an email with your contact info if you are looking at buying in San Antonio. I would be glad to help.

Steven Zinsmeister
stevenzins@yahoo.com
1 vote Thank Flag Link Fri Feb 8, 2013
Start with a good lender. Give Brian Tarbet with Cendera Funding a call at 817-219-5555.

Best of luck .. Bruce
1 vote Thank Flag Link Fri Feb 8, 2013
The best place to start is by talking to a lender. They will be able to get you started and discuss all the loan options with you. I work with Michael Kidd at frontier lending. He has helped my clients with many of the loan options you mentioned. Then give me a call and we will discuss what you are looking for and I will run a search and help you find the perfect home.
Thanks,
Vince Arnall
210-722-6243
1 vote Thank Flag Link Fri Feb 8, 2013
For your pre-qualification needs, Keystone Mortgage can help you. We are a small boutique shop that can process your application/credit only once and then shop for the best product, rate, closing cost for several national lenders at our disposal. On trulia just click on my profile to read more and review recommendations from previous clients that i have helped. Also, you can search zillow profile http://www.zillow.com/profile/Labdulla/
We go over every term and cost break down that you need to understand when it comes to getting the best home financing. Please call for a no cost pre-qualification. 210.535.1739
Laila Abdulla
Keystone Mortgage
Branch Manager- San Antonio, TX
0 votes Thank Flag Link Sun Apr 14, 2013
Best way to answer this question is to send you to the best loan officer in the state of Texas. She handles FHA, USDA, Home Path, and every other program under the sun!

Go here: http://www.DHIMortgage.com/Kasey-Hampton - she can handle loans anywhere in the State of Texas. The online pre-qual is quick, easy, and free. You can thank me later..

If you are looking the San Antonio or surrounding areas.. Give me a call.. I'll send you all of the homes that fit exactly what you are looking for. If you are staying in Dallas, find a buyer's agent that is super aggressive. A stong aggressive buyer's agent is worth their weight in GOLD, and they won't cost you a penny!

Jason
0 votes Thank Flag Link Mon Feb 11, 2013
The first step in purchasing a home is getting pre-approved through a lender. At which point you can discuss the different programs in which you qualify for and meets your goals.
0 votes Thank Flag Link Fri Feb 8, 2013
First I would get in touch with an Exclusive Buyers Agent (EBA) in your area. The EBA will likely know of lenders that will have assistance with specific programs for first time home buyers. You want to sort out the products that different lenders have. I recently had an experience where my buyers didn't get closing costs paid by the seller, so we researched several options to find them the right product. Sometimes this means talking to several lenders at the same time, but lenders typically won't tell you the bottom line when they explain products. My buyer went conventional, they decided to pay their own closing costs because they made sufficient income and going with another loan program offered would have resulted in a higher monthly payment due to higher mortgage insurance.
More often than not, my first time buyers qualify for some great programs that assist with closing costs if the seller won't agree to that during the Purchase Agreement negotiation. You want to look at the big picture and weigh out all the pros and cons. But you need the information and Exclusive Buyers Agents provide that information. Not every Buyers Agent is an Exclusive Buyers Agent.
The brokerage must not offer any listing, they must exclusively support the buyer.
0 votes Thank Flag Link Fri Feb 8, 2013
Well, you can start your search at http://www.JoseSellsSanAntonio.com
It is Free and Up to Date.
Then we need to meet in person to explain you the process and steps needed to achieve you goal.
It is okay to contact me, you will see how easy and stress free I will make it for you.
Good Luck.
Sincerely,
Jose L. Novelo
0 votes Thank Flag Link Fri Feb 8, 2013
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