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Home Buying in El Paso : Real Estate Advice

  • All412
  • Local Info34
  • Home Buying115
  • Home Selling11
  • Market Conditions8

Activity 180
Sat Apr 15, 2017
Sergio answered:
Texas Tech and the University Medical Center are at walking distance to many older neighborhoods. And with the new Paul L. Foster School of Medicine, shopping and business districts are popping up in the area.

There is no better place than in one of these booming neighborhoods; with convenient freeway access, nearby Parks and the Texas Tech Library.

Check out this link:
... more
0 votes 5 answers Share Flag
Thu Apr 13, 2017
Kathy Burgreen answered:
You did things backwards. You're supposed to buy the house first, then buy furniture. I hate to tell you but yes your furniture loan will show up on your credit report - even if it says 0 balance, 0 monthly payments.

You need to learn that lenders have their own system for pulling a buyer's credit. Their system is not available to the general public or buyers - it's for lenders use only. This is why lenders tell buyers the closest you can get is using FICO credit scores. You can go to and pull your credit. It should be close to what your lender will see.

If your husband is applying for the loan by himself, the lender does not need to see your credit. You can still be on the title. However, beware that lenders will only use his income - not yours. Sorry but the rule is only the person who applies for the loan can use their income. You cannot combine incomes and only use your husband's credit.

Therefore, you will not be able to afford a home if both of your incomes were used for the mortgage. You will only qualify for a home based on your husband's income. This will limit what you can afford.

I'm a former realtor in NY and still in touch with lenders.
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Sun Mar 26, 2017
Gilortz1000k asked:
Wed Mar 1, 2017
Alex.jones91 answered:
I make 2k per month what should I invest in because I really don't pay for anything beside my pocket money.
0 votes 13 answers Share Flag
Sun Nov 13, 2016
Susie Kay answered:
Did you ask your realtor? What did your realtor say? Has the seller signed the contract? If the seller hasn't then you don't have an executed contract and as bad as it sounds, seller can still change his/her mind. If the contract is executed then you'll need to go by what's written on the contract before one can terminate the other. Also builders usually have their own contract and they wrote it in a way that it favors them.

Susie Kay
Ultima Real Estate
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Tue Oct 11, 2016
Ivan Diaz answered:
Yes... But the best way to determine is by property address to be real specific.
0 votes 1 answer Share Flag
Tue Oct 11, 2016
Ivan Diaz answered:
Definitely! Your disability is qualified income. Combined with your sizable down payment, we can determine your "max qualify" amount. Contact info on my Bio.

Ivan Diaz
NMLS #501968 TX & CA
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0 votes 2 answers Share Flag
Tue Jun 7, 2016
Silvio Karisch asked:
My apartment lease expires at the end of September 2016. I am not able to take out a loan for a mortgage because my debt ratio is too high. I don't have a sufficient down payment; perhaps,…
0 votes 0 Answers Share Flag
Thu May 12, 2016
Juan C. Munoz asked:
Mon Apr 18, 2016
Bill Gassett answered:
A reverse mortgage can be a blessing or a curse! It is important for seniors to understand exactly how this loan product works. Essentially a reverse mortgage is for those who are over 62 years of age and have significant equity in their home. A reverse mortgage allows you to tap the equity in your home in the form of payments that come to you. Instead of having a monthly payment like a traditional mortgage, the lender actually pays you and you remain living in the home. Each month your equity potentially decreases. It is important to understand the pros and cons of this type of loan. Take a look at the detailed web reference below explaining exactly how a reverse mortgage works. ... more
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Fri Apr 15, 2016
Kevan Pewitt answered:
On average, a homeowner will move every 5 to 7 years. One of the factors you might want to consider is, do you want to be a renter for the next 3 to 5 years. Most Americans would say they would rather be a homeowner. You have to decide which will bring more satisfaction and enjoyment to your life and what is financially feasible for you. ... more
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Sat Dec 26, 2015
Amelia Robinette answered:
everyone's tax situation is different, there is no way to know yours. talk to a CPA or read the IRS guidelines that apply to your situation.
0 votes 1 answer Share Flag
Thu Dec 10, 2015
Yvonne A Russell answered:
Here is the USDA site where you can check if the home you are interested in qualifies and your eligibility for the loan.

Local lenders in El Paso should be able to tell you if they are still closing USDA loans, Call me for a listed of mortgage lenders in El Paso and Horizon City.

Yvonne Russell, SRES
(915) 873-8646
... more
0 votes 7 answers Share Flag
Fri Aug 7, 2015
Cavemandan answered:
im sure someone in El Paso would be willing to do that. try going to yard sales El Paso there are several realtors that are willing to work with you. you can also try a past student of mine who sells homes her name is Ivory Contreras. ... more
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Thu Aug 6, 2015
USMortgageRanger answered:
Hi Suemic,

Your best bet is to work with a Lender to get qualified for a mortgage using your SSID income which will be grossed up 25% giving you some buying power. Then you can get a FHA home loan with some down payment assistance from the State making your out of pocket expense very limited.

I would be delighted to provide you with some mortgage options, (this does not require us pulling your credit) that will allow you to make the best decision for your family. I can be contacted via my profile information for a no obligation consultation. My Office hours are 08:00 AM-08:00 PM Mon-Fri and Fri and Sat 08:00 AM-06:00 PM CST.

Lowell Sterling
Mortgage Banker
NMLS 968898
Capital One Bank
Phone (469) 315-1709
... more
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Wed May 13, 2015
Dan Tabit answered:
Hi David,
Too big a question to answer here. It depends on what your home looks like, needs and you can afford.
0 votes 1 answer Share Flag
Tue May 12, 2015
djennifer009 answered:
It depends on what your original plan already covers. If I were you, I'd go into my insurance company and ask them to compare the insurance. If there's an important difference, then it might be worth it to buy the other plan. ... more
0 votes 6 answers Share Flag
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