Let me answer your question with a question: If you buy a home with no money down and let's say the roof starts leaking a few months after closing -- would you have sufficient money to repair or replace the roof? What about the AC/heat? The costs associated with owning a home are many, so you should consider whether you will have the money to maintain the home as well.
Another consideration -- there are other costs associated with buying a home besides a down payment. Closing costs, hazard insurance, survey, title insurance, inspections. Have you budgeted for those items as well?
Only you can weigh all the factors and decide if buying a home makes financial sense for you. But be sure that you are considering all potential expenses, not just a few. That way you won't have unpleasant surprises down the road.... more
Virtually all mortgages have a Due on Sale clause, that allows the lender to accelerate the mortgage and demand full payment if you sell the home without paying the mortgage. This allows the lender to foreclose on the house if you do not pay off the mortgage.... more
Hi there...I do not live in Pearland (anymore) but was raised there. I have a very dear friend that has a firm in Pearland that would likely be able to help you. Below, you will find his contact information:
Ozzie Ramirez, www.askozzie.com
Keller Williams Pearland
He is currently selling my mother's home, so I trust him completely.... more
If you are looking at 1970's and 1980's homes then your are likely to see that. The paneling at least in this area is really good quality wood, however, some do paint over it. You can have the textured ceiling removed just be cautious that if it is 1980 or older you need a professional as it will have lead base paint. The law changed in 1978 regarding lead in paint but painters, etc were allowed to use up supply on hand so that is why I suggest 1980. You still see some textured ceilings in newer homes as well. Some people sheetrock over it, but it can all get quite pricey.... more
Friendswood has the best High School. Friendswood High School is the only high school in the Friendswood Independent School District. Alvin High School is ranked 167th within Texas. Alvin High School is 1 of 3 high schools in the Alvin Independent School District.... more
Be very careful. There is a lawsuit in the circuit court of Conecuh county surrounding a former slave named Washington Johnson who's heirs are entitled to mineral rights involving a large sum of money from an oil firstname.lastname@example.org.... more
I grew up in this zip code and still live very close. It is no different than any other area. It was a small country town but has grown like any other area also. Great place to live and raise a family, good restaurants, plenty of shopping, close to everything, yet still a small community feel to it.... more
You may want to speak with your agent and have them contact the inspection company. Inspection companies have E&O insurance for issues such as this. While this is no guarantee you will be victorious if you are able to somehow show that the roof was in disrepair at the time you may be able to get something from their policy.
This will probably be difficult to prove unfortunately. If you are buying a home with an old roof or an area such as where I am located and we have hail storms from time to time I always advise my clients to have at least one roofer look at the roof if it was not replaced since we had some pretty bad hail storms back in 2009.
Hope this helps.
REALTORÂ® & Mortgage Broker
Austin Real Estate Pros | 360 Lending Group
office: 512.669.5599 mobile: 512.633.4157
www.AustinListed.com | www.360LendingGroup.com
In addition to a good credit history, you need at least two years of income to show your lender your capacity to repay your mortgage. Shop around for a mortgage broker and get pre-qualify. They normally work with Banks and private lenders that have different programs to suit most of their clients.
In order to qualify for a mortgage normally Banks or a private lenders will ask for the past two years of income tax, employment history (with minimum two years in the same job), good credit history and the amount of money that you have for a downpayment and closing cost.
To help you explore your financing options contact a mortgage broker and get pre-qualify.