What are some surprises that first-time buyers encounter when purchasing a home?

Asked by Trulia, San Francisco, CA Thu Mar 1, 2012

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Michael Bray, Agent, El Paso, TX
Sat Mar 3, 2012
Believe it or not - that there may have been a special First Time Homebuyer program that their agent wasn't aware of and that they did not get the best bang for their buck. There is a program with a lower interest rate, another that provides down payment assistance plus closing costs in the form of a forgivable grant, another similar but it is an interest free loan, and yet another that provides long term tax credits. Each program has pluses and minuses and it takes a specialist to help you see which best fits your circumstances.

In Texas, look for a REALTOR who is a certified Texas Affordable Housing Specialist (TAHS). I am one of the instructors for this Texas Association of REALTORS sponsored program and was named the Texas REALTOR Hero in 2010 for my work statewide with Affordable Housing Programs.

Please feel free to contact me anytime for more information.

Michael Bray
(915) 549-1770
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Joann Garcia, Agent, El Paso, TX
Fri Aug 3, 2012
First time homebuyers need to understand that the homebuying process is an exciting one with lots of choices. Not only in what they want in a home, but also when they shop around for a mortgage. Buyers need to not only look at interest rates, but also look at lending fees. It's best when buyers know that shopping around for a loan is a process and they need to find the right one that fits there needs. A good thing to keep in mind would be be have money set aside for what's called an earnest money deposit usually between $500.00 to $1000.00 which is given back once you close on your home. This just shows the sellers that you are a serious buyer. Also set money a side to pay for a home inspection, in El Paso it starts at .12 cents a square foot. I'll be happy to answer more questions. Happy house hunting.

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Joann Garcia
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