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Consider This Before Buying - Finances

Ashley Cox says it well... she points out what you should consider when thinking about buying. Its not just about 'the type of home you want', you need to know what you qualify for, what your credit is, what it will cost to get into the home, etc.

The below post is filled with great information!

How much house can I buy?Exactly how much can I buy?
By getting a pre-approval before you make an offer, you will be certain of the amount of loan your family will qualify for. There are many lenders to choose from. With written approval in your hand, you can make a more aggressive negotiation and this could save you thousands of dollars on your home purchase.

Which Loan is best for me?
Working with your Lender will help you determine what programs you may qualify for, and narrow it down to the one that is right for your long-term goals.

How does credit scoring work?
Credit scoring is an evaluation system used by lenders to help them determine whether or not they should lend you money. This system grades you based on 5 different factors, including your payment history, outstanding credit balances, credit history, the type of credit you have accumulated, and the number of inquiries on your credit record. Points are awarded for each factor, with a high score being favorable.

How much does a pre-approval cost?
Absolutely nothing! You have nothing to lose. Most lenders provide free consultations, with the goal that to not
only help you find the best loan now, but help you manage that financial responsibility in the future by reviewing your
options on a regular basis.

What will my payment be?
The amount of your monthly payment depends on the specific loan program you choose. The Lender you choose should provide you with an easy-to-read spreadsheet that compares different loan programs so that you feel comfortable about your monthly financial obligation before even making an offer on a home.

Credit approval gives you buying power. It allows you to shop with confidence and gives you the ability to negotiate. If you need a list of recommended local Lenders for a home purchase in the DFW Area, let me know!

Ashley Cox Myers, Dallas Realtor (972) 978-3109

Ashley Cox Myers, Dallas Realtor (972) 978-3109

Search Homes Here!

Ashley Cox is a Realtor® with Keller Williams Realty and strives to provide excellent service and assistance to Buyers and Sellers in the Dallas/Fort Worth Metroplex. If you are in the market to buy or sell and need the assistance, guidance and support of a professional, call (972) 978-3109 today.

Are you a teacher, firefighter, public safety officer, health care worker or military personnel? See what having the representation of a Homes for Heroes Affiliate can save YOU!



Are you looking to purchase a Texas home?  Perhaps you love your Texas home but would be interested in refinancing your Texas mortgage to a lower interest rate?  

I'll help you get pre-approved for your Texas home loan and even suggest some very knowledgeable and professional Real Estate Agents in your area of choice.  If you are available to talk, I am available to listen.  Give me a call or visit my website for more details.

Do you want to know all of your mortgage options? Call me today and let's discuss them further.

Texas Home Loan Consultant

Always available for your Texas Mortgage and Home Loan needs!

John R Cannata    P#214.728.0449

NMLS # 322646

Texas Home Loan Expert

Frisco TX Mortgage



The views expressed on this site are mine alone and do not reflect the views of my employer.

Comment balloon 4 commentsJohn Cannata • June 05 2012 01:07PM
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