Home Buying in Fort Worth>Question Details

Tattooedsoul…, Home Buyer in Fort Worth, TX

would like to know how much I can put down on a home like the one on 502 E. mulkey st in fort worth please let me know interested in buying a home

Asked by Tattooedsoul_1971, Fort Worth, TX Tue Feb 11, 2014

Help the community by answering this question:


Yes, there are a lot of sharks answering this question......but none of them have done their homework.
---There is no such address as "502 E. Mulkey" in this county! ...However...If you meant "920 E. Mulkey", there is a house for sale at that address. ...Since the asking price is around $100,000, the down payment on an FHA loan would be about $3,500. ...But if you hire a good agent, you will have someone to represent you, and as I always do, the contract price can be negotiated lower than that. ... Do yourself a favor: ~quit asking questions on these websites and engage a Realtor to guide you through the whole process. ...With 34 years of experience in this county, I have helped many first-time home buyers. ...The first step is to sit down and discuss your goals, and then we'll formulate a plan. ...Then we will talk it over to make sure you have everything in order before you submit your loan application to a mortgage company. ...(We don't want them to put a credit report prematurely, because it could lower your score.) ...Once you are pre-qualified for a loan, and only then, we can go look at some houses. ...When you find one that works for your family, I will help you negotiate the best deal on it. ...And after we submit a contract to your chosen loan officer, we will get busy with the inspections and appraisal. ~~~I will make sure there are no surprises during your transaction, and we will go to closing together. ....Contact me if you have any questions about the process. ***Rick DeVoss...ULTRA Real Estate Services*** ...817-300-6121...WholeLife@Yahoo.com ===
0 votes Thank Flag Link Wed Feb 12, 2014
Well played sir. I thought he might be looking at this http://www.auction.com/Texas/residential-auction-asset/1619256-9169-1500-1-502-E-MULKEY-ST-FORT-WORTH-TX-76104-O437. Good luck to you. I always enjoy reading your responses.
Flag Wed Feb 12, 2014
Hi Tattooedsoul_1971 -
Give me a call, I'll be happy to help.
We can meet up, discuss the process, and go see some houses.

Gwen Harper
Bloom Real Estate Group
0 votes Thank Flag Link Wed Feb 12, 2014
Obviously it all depends on what type of mortgage you qualify for.
FHA requires 3.5% dn & Conventional requires 5% dn. If you're a veteran, you pay nothing down except the part of the closing costs the seller will not pay.
And if this an investment for you, most lenders require 20% dn.
Give me a call/email so we can discuss this further. I'm here to help.
Thank you.
Arthur Garcia III
Cell: 817-992-6740
NMLS# 991969
0 votes Thank Flag Link Wed Feb 12, 2014
The lowest down payment for this area of S. Fort Worth is 3.5% unless you are a Veteran, but I have a FHA Access Program that will help cover 3% of the down payment. Meaning you can get in with as low as 1/2 Down plus your closing costs. The minimum credit score requirement is 620, and the income limits for this program in this county is $74,750.00. If your income exceed that amount then you should qualify for the standard 203B. Please let me know if you have any questions. Best of Luck!
0 votes Thank Flag Link Wed Feb 12, 2014
Sharks seem to be in the water. Lots of people seem to need to qualify you for a mortgage. Truth of the matter is you do need to be prequalified for a loan. The real issue with that is you need to make sure that a real prequal is done. You do not want to get a week out from your close date just to find out that you had no chance of getting financed in the first place. Be aware of ANYONE that tells you they can get you prequalified and they don't need to check your credit. If you would like I can recommend a few that I have worked with in the past and we can also discuss the purchase process, that way you are fully prepared. Give me a call on my cell at 817-760-9320 or shoot me an email at processing121@yahoo.com
0 votes Thank Flag Link Wed Feb 12, 2014
When you want to buy a home the best place to start is to hire an Exclusive Buyer Agent. EBAs only work with homebuyers and there is never a conflict of interest that will jeopardize your negotiating position. Visit http://www.naeba.org for a referral to an Exclusive Buyer's Agent in your area.

I've written a best selling book called Buying a Home: Don't Let Them Make a Monkey Out of You. It'll teach you how to buy a home and obtain a mortgage without getting ripped off. Follow the link below.

Best of luck!

Alysse Musgrave
0 votes Thank Flag Link Wed Feb 12, 2014
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