Home Buying in Wylie>Question Details

Lauren.r.cou…, Home Buyer in Wylie, TX

Are we able to buy a new home?

Asked by Lauren.r.couch, Wylie, TX Sat Oct 15, 2011

My fiance and I graduated last December and finishes student teaching this past Spring. He is a teacher and coach at Sachse High School and I am the director at Pecan Creek Preschool in Rowlett. We are getting married June 1st of next year and would love to find a place before then. We didn't know if we would be able to buy yet or do we need to have worked longer? We are new to this whole thing and would love some great advice! Thank you!!

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12
Lauren,
Another item to note: you will want to take to a mortgage professional that you choose....not just the lender that a new home builder recommends. When you are looking at new construction, the sales person for the builder will likely tell you that if you use their lender you will get a better deal on the home. Please be cautious because ususally the money that you save on the sales price of the home is made up in fees that the lender charges. It really is in YOUR best interest to shop around for your mortgage. Lenders can/will provide you with estimates of their fees so that you can make sure you are making the best choice for you and your husband.

As Sam Young below indicated, most Realtors will give you a good recommendation on a few lenders to call. Realtors work with lenders on a daily basis and know which ones have good customer service, good prices on their fees, and who can get you into your new home with the least amount of stress.

I highly recommend that you find a Realtor you can trust, and use the service providers that they recommend....that way everyone will be working on the same team for your benefit.

We would love to assist you now and into the future.
Melissa Hailey
Coldwell Banker Jane Henry Realtors
North Texas Top Team, Realtors
214-418-0180
Melissa.Hailey@ColdwellBanker.com
1 vote Thank Flag Link Sun Oct 16, 2011
Mortgage lenders are the best source to answer your question. I would be happy to provide you with a list of several local professionals. E-mail me directly at samsonsay@verizon.net with your request.

Sam Young
Coldwell Banker Jane Henry, Realtors
Accredited Buyers Representative
(972)837-0788
1 vote Thank Flag Link Sat Oct 15, 2011
You are gamefully employeed with a contract and that's the good thing. The big hurtle as a first time buyer is a good banker. I can give you Three because that's the minimum I would talk to in your position. I live in Sachse it's a great place lot's of new housing hear and in Wylie that is affordable. Email me and I will be happy to send you the three lenders and maybe I'll earn the position of helping you find that home. Congradulation Lauren.
0 votes Thank Flag Link Sat Nov 10, 2012
Some lenders will require more work history, but fortunately some will not, depending on your current credit report.

Hopefully, you have money for down payment so you can get some of the best pricing we've had in years and the best mortgage interest rates in quite a long time.

Here's a link to a good article for first-time buyers. http://rowlett-realty.com/buying/prequalifying/ Just call me if you have any questions or just want to discuss your plans.
Web Reference: http://www.SumnerRealty.com
0 votes Thank Flag Link Sun Oct 23, 2011
Lauren,

First thing we need to do is to get you to a lender.
They're the ones that make the decision.
It's free to get prequalified.
If you're not ready yet, they'll give you the steps to work on.
It really depends on so many things, like debit, income, job history, and credit history.

The other thing I suggest is to not buy a house until you actually get married. Maybe a year after you get married. It's stressful enough with new careers, new jobs, marriage, and move, to then add the stress of a house to it. Sure we've seen people do it successfully, but also so many struggle. It will all come with time.
Web Reference: http://www.teamlynn.com
0 votes Thank Flag Link Mon Oct 17, 2011
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
You should have no issues getting qualified if you have a 600 mid score and 3.5% minimum to put down but that can be gifted to you from a relative as well.

Sounds like you have a lot of good questions and need an agent to work with. Please let me know if I can be of service. I work with a majority of first and second time home buyers. Thank you!

Damon Williamson
Keller Williams
214-325-9827
Realtordamon@gmail.com
Web Reference: http://www.realtordamon.com
0 votes Thank Flag Link Sat Oct 15, 2011
Buying a home no matter where you are located in the world is a process. It's not an event like the Super Bowl. By going to http://wp.me/p1Kaw0-y1 you can read a post on a Full Proof Step by Step Plan For Buying A Home.

There are no strings attached but as always we are looking for great home buyers and sellers in the Greater San Francisco Bay Area. So if you like what you read like us on facebook/aboutredwoodcity or join our blog.

Helping home buyers and sellers with their homes since 1976.
Web Reference: http://www.sfbayhomes.com
0 votes Thank Flag Link Sat Oct 15, 2011
Rushed the web address go to http://www.chrishutchinsonteam.com to learn more about the buying process.
0 votes Thank Flag Link Sat Oct 15, 2011
Lauren.....congratulations on your upcoming marriage!!! I know this is a time of great excitement for you and your fiance', planning for your first home is a great (and challenging!) thing. Most lenders require credit and income history in the approval process for a mortgage.....however, there are times when lendeers look at future earnings, based upon education and career fields as well. I would strongly recommend talking with a mortgage broker to see what plans are out there and what you can qualify for. That way, you'll know with more certainty what you can afford to purchase and begin your home search in earnest!

Best of luck and God Bless!
0 votes Thank Flag Link Sat Oct 15, 2011
Hi, The first and most important step is to contact a local mortgage professional. They will sit with you, assess your financial situation, and let you know your options. Since Your Fiancee is a teacher be sure to inquire about any special programs he may qualify for. Once you get pre approved for a mortgage you will know exactly what price range you should look in and shop with confidence.

Chris
0 votes Thank Flag Link Sat Oct 15, 2011
If you have at least a 580 credit score and income I can help you find a home. I specialize in hekping firt time home buyers get into homes.

Give me a call if you need more information.

Chris Hutchinson
Realtor
The Chris Hutchinson Team
The Micheal Group Real Estate
972.809.0607
http://www.thechrishutchinsonteam.com
0 votes Thank Flag Link Sat Oct 15, 2011
Your questions are very valid. Most lenders require 2 years of employment with same employer prior to approving a loan. RECOMMEND to contact mortgage broker for all your questions

Direct Link Wylie homes for sale
http://www.lynn911.com/Web/AR287090/CustomContent/index/5055822

Direct Link Wylie homes for rent
http://www.lynn911.com/Web/AR287090/CustomContent/index/5041417

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Sat Oct 15, 2011
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