You have several choices when it comes to purchase residential property- traditional single family home, a townhome, a condo, or a multi-family building with 2 to 4 units. Each choice has its pros and cons. You need to decide which type of the property best suits your necessity. In fact, you need to make a list of your requirements according to your necessity, which you would like to see in your dream residential property such as size, single or double story, 3- or more bedrooms and bathrooms or less, kind of kitchen with trust-worthy appliances, etc.

You should also pay special attention to districts with good schools (high teacher-student ratios and graduation rates are among the hallmarks), the length of your commute to and from work, and the convenience of local shopping centers. When it comes time to sell, you’ll find that these factors are on top priority for many homebuyers and will help to boost the property values as much as 15 to 20 percent.

You may, like most people, need mortgage to buy a house. It’s always a good for you to check credit and make sure that the facts are correct, and fix any problems if it exists. The three major credit agencies, Experian, Equifax, and TransUnion keep track of credits and can provide you the reports. It’s also wise not to make any major purchases or move your money around at least three to six months before buying a house. Credit scores range from approximately 300 to 800. Generally, you will qualify for better loan with higher score.

To make an offer on any kind of the property, you will need pre-approval letter from Mortgage Lenders in Austin. Fill out the form below and I will put you in contact with a Mortgage Specialist, who will work and discus all options to qualify you for the best possible loan.

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You can buy a house that is about two-and-one-half times your annual salary. You can get an estimated loan amount for which you can qualify by using one of many calculators available online (few are listed under tools). To get more accurate figures ask lender for pre-approved letter, who will look at your income, debt and credit to determine the kind of loan, which will suits you the best based on your current situation. First-time home buyers, however, have more leverage in finding the best options to get them into a home such as federally-backed loans and loans who do not require 20% minimum down payment. Your mortgage interest rates will also have a major impact on your monthly payment of your house, so it ‘s good for you to shop around for the best deal and best interest rates. There are a variety of public and private lenders who, if you qualify, offer low-interest mortgages that require a small down payment.

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With all the tools and advice available today ranging from books and magazines to online, you may like to buy your home on your own without seeking help from real estate professionals. However, the housing market is basically local, and each state, city, and even neighborhood has local laws or customs that you need to understand. A real estate professional will help you to locate the properties that meet your needs and are in your affordable range. Once you have found your dream house, a real estate professional can help you to make your dream come true. The real estate professional will educate you on the current conditions of the market; analyze what you need and want in your house; negotiate on your behalf to get you the best deal; coordinate the work with other professionals involve in the transactions and solve any problems that may arise during closing.

It’s always good to hire an experienced home inspector, who will provide you information regarding overall condition of your new home including potential problems that could require costly repairs in near future. So you can make a decision whether you should or should not buy that house.

Closing or settlement is the consummation of the real estate transaction. You can make an offer on your dream home after going through all steps mentioned above. The papers you will receive at settlement are extremely valuable and will help you in establishing tax deductions for the year in which the property was purchased. At the closing you will also like to get the information about utilities, water, sewage, gas, electric and oil services.

You have closed the deal and are now ready to move-in. Welcome to your Dream Home. This is your largest single asset, so it makes sense to protect it.