We provide you this information to help consolidate some of the current news from real estate and mortgage experts. We look forward to speaking with you soon.

Is your financial house in order?

These are the questions you need to ask yourself at this time.

• Do you have solid job security?
• Do you have solid credit, a decent down payment, and documented income verification?
  

Investment time is coming

Are you currently a real estate investor? 

As of March 1, 2009 Fannie Mae has relaxed their guidelines to allow for 1-10 mortgages per borrower. Lenders will follow suit shortly after.

• There are certain guidelines and restrictions

Be conservative

Create a complete list of all the expenses you expect from owning a home.  Lawn care, insect control, taxes, insurance and maintenance budget.

Do not stretch your finances just to buy a house?  Make sure you can conservatively afford it.

Get those concessions

So, now you know you are ready to find that perfect house. It is a buyer's market!

• Now is the time of leverage. 
• Ask for everything you want.
• See if the seller will help with closing costs.
• Negotiate appropriately with ethics.
  

Check out foreclosures

There are many houses on the foreclosure lists.

• For some people, this may be their only chance to get a low priced house by looking at foreclosures. 
• These transactions take special skills so use a professional with a background in foreclosures to help you with the extra legal issues.
• If possible, have the house inspected by someone you pay for so you get an independent opinion.

Ask us for a referral of a realtor that specializes in foreclosure properties.

Next Steps

Are you ready to move ahead? Now is the time to get pre-qualified so you can make an offer immediately when you find the right house for you and your family.  We can also discuss Texas USDA Loans.  We are ready to help you.