Home Buying in Plano>Question Details

Tazin, Home Buyer in Plano, TX

We are from London (British) and planing to move Plano Texas this Summer 2013. have some quarries about buying house.

Asked by Tazin, Plano, TX Wed Jan 23, 2013

1.how much down payment need to pay for buying about $300000 house
2.whats about mortgage? what do we need to get the mortgage? and is there any alternative way to get mortgage?

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Answers

14
Hey Tazin,

West Plano is the place to go. I moved from Los Angeles (Beach Area), I feel very safe in West Plano(or even any part of Plano). North Dallas (Plano, Frisco, Allen and McKinney) these are the best in the USA. Though summer is little HOT but Quality of Life and School Districts are best in US. I am living here for last six years. You can find everything from Good Food to Lots of shopping choices with in Plano.

Other best thing about Plano is your kids are protected even in Dark(Police are very strict and everywhere. Taxes are little high compare to LA. But schools are like private schools.

Hope this will help. By the way I am Software Engineer and not RE Agent.

Javid Khan
0 votes Thank Flag Link Sat Feb 9, 2013
Hi Javed,
I have lived in the greater L.A. area for last 30 years. Now I am really sick and tired of it - traffic congestion, bad schools, people's attitude, etc. I am an IT person, a family man with 3 kids. As someone who lived in L.A., I would really appreciate if you could give some advice about pros and cons about living in Plano and any adjustments needed to settle in TX. Btw, I am Asian. Thanks
Flag Wed Oct 23, 2013
Hi Javed,
I have lived in the greater L.A. area for last 30 years. Now I am really sick and tired of it - traffic congestion, bad schools, people's attitude, etc. I am an IT person, a family man with 3 kids. As someone who lived in L.A., I would really appreciate if you could give some advice about pros and cons about living in Plano and any adjustments needed to settle in TX. Btw, I am Asian. Thanks
Flag Wed Oct 23, 2013
Tazin,
Welcome to Texas! You are going to love it here. We have great schools, parks, recreation, shopping, dining, and plenty of corporate headquarters for employment opportunities. Our economy is stronger than many other areas, and our cost of living is lower too.

As for getting pre-approved for a mortgage - that's your first step to becoming a home owner in Texas. It's good that you are doing your research early. Your down-payment will be somewhere between 3.5% to 5% minimum. You will also have some closing costs (such as lender fees, title company fees, pro-rated taxes, etc) which could cost another 1% to 2%.

Once you are pre-approved by a lender, you will want to start the home shopping process. You should find a Realtor who can assist you. That Realtor is able to send you home choices that meet you specific needs via email, which will help you get a clear understanding of what type of homes are available to you. Then, when you are planning a trip to Texas, your Realtor can schedule appointments to take a personal tour of the homes you are most interested in.

Your Realtor will be your trusted resource throughout the entire relocation process. They can even recommend mortgage professionals for you to consider right now.

If you are not already working with a Realtor, I would be happy to represent you in your relocation. Please contact me anytime at 214-418-0180 or melissa.hailey@coldwellbanker.com for further information. I would love to send you some general home buying information via email right away.

Have a great day!

Melissa Hailey - North Texas Top Team, Realtors
Coldwell Banker Jane Henry Realtors
214-418-0180
Melissa.Hailey@ColdwellBanker.com

http://www.linkedin.com/in/melissahaileyrealtor
http://twitter.com/melissahailey
http://activerain.com/blogs/mlshailey
0 votes Thank Flag Link Tue Jan 29, 2013
1. Downpayment
a. is based on number of factors governed by the lender. You can anticipate at least 3.5% of sales price or more.

2. Mortgage basic
a. 2 years solid employment
b. 625 + credit score
c. Down payment requirement

3. Alternative?
a. No

Plano homes for sale Plano Tx - website updated daily
http://www.lynn911.com/Web/AR287090/CustomContent/index/5057188

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
Multimillion Dollar Sales Producer
972-699-9111
http://www.lynn911.com

Follow me on Facebook
http://www.facebook.com/lynn911dallas
0 votes Thank Flag Link Sun Jan 27, 2013
Hi Tazin,

Welcome to the states!!

You will love living in Plano as everything here exceeds to excel. Great schools, great families, cost of living in TX is great all together here.

It seems like you have some concerns regarding mortage and how it works here in Texas. I work with a great team of lenders who can answer any questions or concerns you might have regarding mortgage and financing of a home. We're here to help you make the moving process an ease, worry free.

Provide me with your contact information - I will have my lenders call you to discuss further in detail what and how to prepare for purchasing your first home here in Texas.

Looking forward to working with you!

Melissa Trang, GRI
Ebby Halliday, REALTORS®

Direct: (469) 766-3888

Email: melissatrang@gmail.com

Start your home search, today! @ http://www.melissatrang.ebby.com/
0 votes Thank Flag Link Fri Jan 25, 2013
Hi Tazin,

Welcome to Texas!

To answer your question

1) it will depends on your credit. Average is about 5% to 8% for downpayment amount. I would highly recommend getting an US credit card to start building up your credit in the US.

2) As far as mortgage. There is really no other alternative to get mortgage besides going thru a bank. I mean there are private investor out there too. but they are usually at a much higher rate than traditional banks. Your best bet is to have an local bank to give you a mortgage loan.

You can contact me at dixondfw@gmail.com If you need help getting to an lender in the States.

Dixon
Realtor
http://www.findyourtexashome.com
0 votes Thank Flag Link Thu Jan 24, 2013
Welcome to Texas. We help lots of international buyers.

Down payment will depend on your credit and income, and some other factors.
We need to get you preapproved with a lender first.

Are you coming to work? Is that work lined up? Do you have an offer letter already?
Income is typically required now to get a loan.

We have lenders that are used to working with our clients, so just drop me a line or give me a phone call and we'll get you connected.

Otherwise you may have to pay cash....and the down payment to sign the contract might be as low as 2500 or so, but you'll need the balance in 30-45 days unless you plan to get a mortgage.

Here is a link to some homes currently for sale in Plano.
http://www.metroplexhomesalesinfo.com/community/area/Plano/
0 votes Thank Flag Link Wed Jan 23, 2013
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
Hi There,
You will love Plano, it's a fantastic community. Very different from London. My sister currently is working there and just finished her Masters at Cambridge in cultural anthropology. I would be happy to help you decide if Plano is the best area for you based on your needs. Also, I have a fantastic lender contact who can answer all of your loan questions. Want to Skype with me:
melanie.cotter1971 or my direct e-mail is melaniesellsdfw@yahoo.com
My office, Keller Williams-Plano holds the biggest market share in Colin County (where Plano is) so I'm sure I can help you. I also live in the area in a town called Frisco, Texas. You may want to google it. You could probably afford a new construction home in this area if that appeals to you.
Best,
Melanie Woldt Cotter
972-922-9831
0 votes Thank Flag Link Wed Jan 23, 2013
Tazin,

Welcome to Texas!

Plano is a wonderful place to live in terms of cost of living and quality of living. It also has a lot of exemplary public schools if you have children in schools. So no worries here.

In terms of down payment, it can be from 3.5% and up. I have a lender who can help you, he has approved my client who lived in the US for less than 1 year and is not a US citizen, and he's currently working with another client who is a foreigner.

I have helped so many clients relocate here and I'd be happy to help you, too. Feel free to call or email me.

Susie Kay, Realtor®
GRI, CHMS, SFR
Residential/Commercial/Investment
English-Indonesian-Hokkien
------------------------------------------------------------------
United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240
469-371-2899
susie_k@att.net
http://www.dfwdreamhomes.net

Servicing your real estate need is my priority!
0 votes Thank Flag Link Wed Jan 23, 2013
First, let me welcome you to Texas! Plano has quite a lot offer as a community and I would expect this to be a very positive experience for you. Prior to looking for homes you'll need to first speak with a lender to ensure that you are looking at homes in your price range. 3.5% down is typically the minimum. A lender will fill you in on all the requirements so you'll be fully prepared when you're readdy to begin your home search.

I work frequently with relocation clients and have several ex-pats I can refer you as reference. In the meantime, please feel free to visit my site http://www.topagent.co for more information about me and our area. You can also search for homes directly from the site.

I would welcome the opportunity to visit with you further about your move and can put you in touch with several great lender contacts. Feel free to call me at 469-450-1326 or email andrea.brooks@kw.com.

Best regards,

Andrea Brooks
0 votes Thank Flag Link Wed Jan 23, 2013
Hi Tazin. I am British too. I moved to Plano from Reading. As far as downpayment goes it depends in the type of mortgage, it can be as low as 3.5% up to whatever you want to put down. One of the challenges is that you do not have a credit record in the US and so have to find a lender that will look at a UK credit rating. You will need income and will probably have to have worked for at least a month. Theyvalso look at your debt to income ratios. There are some owners that will give owner financing which may be a possibility. You are welcome to contact me with any other questions you have about buying a home or moving to the US
0 votes Thank Flag Link Wed Jan 23, 2013
Hi Tazib Family-

The down payment for a mortgage will be 3%-3.5% of the price of the home. There are a few other types of mortgages you can get and I have a mortgage company that can assist you.

I have extensive experience with relocation including helping families from overseas.

It would be my pleasure to help you and your family.

Please feel free to email or call me and I will help with all your questions.

Best regards,

Sherry Renfroe
Ebby Halliday Realtors
(214) 215-4145
Sherryrenfroe@ebby.com
http://www.sherryrenfroe.com
Mobile Site: m.sherryrenfroe.com
0 votes Thank Flag Link Wed Jan 23, 2013
Hi, how exciting for you! My husband and his family are from England. The questions you have are best answered by a qualified lender. I work with several excellent lenders and am happy to refer you to them. Call or email me directly at 214-497-7475 or Robbin@robbin-Smith.com. The lenders can also work with you via email if that is more convenient as well as after hours phone calls due to the time difference. There are many different loan programs with different down payment and qualification requirements. Thanks! Robbin Smith
0 votes Thank Flag Link Wed Jan 23, 2013
Tazin,

Contact http://www.dawnpemberton.com

Brent Rice, Trulia Top Recommended Broker (Pro & VIP)
The Rice Group, Inc.
Website: http://www.ricegroupinc.com
214-808-3100
Brent@RiceGroupInc.com
0 votes Thank Flag Link Wed Jan 23, 2013
Please contact me and I work with an excellent Lender who can answer all of your questions.

jan_absolom@msn.com
214-668-9498

Jan Absolom
JR Premier Properties, LLC
Dallas, TX
0 votes Thank Flag Link Wed Jan 23, 2013
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