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Houston First Time Home Buyer

Name: Houston First Time Home Buyer
Address: Houston, TX, US
Telephone: +18324606670

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Houston First Time Home Buyer

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Arise Realty Group is comprised of Realtors who have been carefully selected, trained and mentored b

07/05/2022

Topic: Getting a Mortgage after Bankruptcy

Life happens and maybe you had to make some tough choices that you feel might have halted your dream of buying. Well let’s talk about ways you can get a mortgage after bankruptcy.

If you’ve gone through a bankruptcy or are considering filing for one to get rid of debt you owe, you may be wondering if it impacts your ability to buy a home.

The answer? Yes, it impacts how you’re viewed by lenders because of the significant negative impact it has on your credit score, but that doesn’t mean that you won’t be able to buy a home.

It certainly creates more of a challenge and barrier to qualify, but if you follow the process correctly and exercise patience, you’ll be well on your way to being a homeowner!

Here’s what you need:

1. If you filed for a Chapter 7 and are choosing a…

Conventional loan:
✅ Complete a 2 to 4-year waiting period
✅ Minimum 620 credit score
✅ 3% minimum down payment

FHA loan:
✅ Complete a 1 to 2-year waiting period
✅ Minimum 580 credit score
✅ 3.5% minimum down payment

VA loan:
✅ Complete a 1 to 2-year waiting period
✅ No minimum credit score (though many lenders require a 620 score)
✅ No minimum down payment required

USDA loan:
✅ Complete a 2 to 3-year waiting period
✅ No minimum credit score (though many lenders require a 640 score)
✅ No minimum down payment required

Have questions? DM me and let’s chat!
📱 Call/Text 832-460-6670

02/20/2022

What’s the thing that keeps buyers up at night but sellers dream of? Multiple offers and bidding wars, baby. These are super common in our competitive market right now, and if you’re trying to buy a home, you’ll likely deal with a multiple offer situation. Here’s what you can do to come out on top: ✔️ Submit a large earnest money deposit. If you know the home is going to get multiple offers, make your deposit large when you make your offer to show that you’re serious about the property. This money goes back into your down payment if your offer is selected, and if it’s not, you’ll get it all back. ✔️ Show up PRE-APPROVED. When you’re pre-approved, you show that you have the finances to back up your offer and that you won’t waste the seller’s time with an offer you can’t follow through on. ✔️ Be strategic. If you’re at the top of your budget, you can still sweeten your offer. Pay attention to the seller and their wants/needs so you can craft your offer to appeal directly to them. For example, if the sellers haven’t bought a house yet, you can give them time to move. Make sure to save this post so you’re prepared for a multiple offer situation. And if you have any questions, just send us a DM.

02/19/2022

Five tips you need to know if you are ready to buy your first home 💵 It isn't glamorous, but part of my job is to help you prepare for the financial steps you'll need to take if you're planning to buy a home this year. Don't forget to save this post for later! 📍 Save for your down payment and yes, closing costs. 📍 Work with a lender to determine how much home you can afford. 📍 Check and, if needed, repair your credit score 📍 Research your mortgage loan options and rates that may be available to you. 📍 Get a pre-approval letter from a qualified mortgage lender before you begin your search. Homeowners, what is one thing you wish you had known before you bought your first home?

01/20/2022

After months of searching, you’ve finally found your dream 🏡 home. But if you’re searching for a home in a seller’s market, there’s one thing standing between you and the home of your dreams….Other buyers!

Bidding wars are the hallmark of a seller’s market. You may find that your perfect home is perfect for several others. We’ll look at a few strategies you can use in a bidding war to avoid heartbreak and ensure victory?

✔️ Get your pre-qualified letter ready
A pre-qualified letter tells the seller that you’re serious about buying their home. It also tells the seller that you won’t run into trouble getting a mortgage to buy the property. It’s always possible that if you don’t have pre-qualification letter, a seller will often skip over your offer entirely.

✔️ Be flexible with your closing date
Giving sellers a little flexibility on your closing date may seem small, but makes a big difference when setting yourself apart from the competition. Adding a tentative closing date in your offer or a lease-back can work to your advantage.

✔️ Drop the contingencies
You can make your offer stronger by dropping your contingencies. Contingencies are specific conditions that must be met before the sale can be completed. (ex. Option period, lead time to secure your loan, etc.)

Interested in learning more tips or need help with your upcoming purchase and want a professional negotiator by your side? Contact our team!📱832-460-6670

01/03/2022

Is building a new home something you're considering? With inventory still low, more and more people have been considering buying new construction. Building a home can be a bit daunting, but that is where I come in! If this is something you're interested in, I've put together a list of things to consider before signing on the dotted line.

𝔻𝕠𝕤:
• Hire a buyer's agent.
Builder sales agents are extremely friendly and knowledgeable about the homes and models. However, as nice as the sales reps may seem to you, they represent the builder. Their job is to get the best price for the builder and meet sales quotas. They are not looking out for your best interests. It is so important that you have your own representation

• Research your preferred builders.
It is equally as important to research home builders to find one you trust. Not every builder is created equal! A few things to consider are how many years they've been in business, what their warranty looks like, and what their standard features are. Always remember to read their reviews online as well.

• Always get a home inspection!
No home is perfect, not even new ones. It's important to have an inspection done to check for warped floors, joists weakened by improperly installed ductwork, leaky plumbing, bad wiring, drainage problems around the foundation, improperly installed appliances, and poor seals around vents (just to name a few).

𝔻𝕠𝕟'𝕥𝕤:
• Don’t go overboard on upgrades.
No matter how long you plan on living in a home, it is important to take resale value into consideration. There are some upgrades that make “resale” sense and some that don’t. There are also many things that can cost less if you do them later.

• Don’t forget the details.
All houses are not built the same, and they don’t come with the same features. Be sure to ask your builder exactly what is included in the price. Don’t get hypnotized by the gorgeous model home — they are always upgraded significantly.

12/29/2021

If one of your resolutions for 2022 is to buy a home, it may be more attainable than you think!

Here are the first two steps you can take now that will prepare you for homeownership this year:

𝚂𝚝𝚎𝚙 𝟷: 𝙵𝚒𝚗𝚊𝚗𝚌𝚎𝚜 & 𝙿𝚛𝚎-𝚊𝚙𝚙𝚛𝚘𝚟𝚊𝚕
Save for a downpayment, and get your finances (and credit score) in order. The first step of the home buying process is 𝘢𝘭𝘸𝘢𝘺𝘴 to review your finances and obtain a financial pre-approval. It's important to review your budget and think about new expenses such as utilities, maintenance costs, and HOA or Condo fees.

𝚂𝚝𝚎𝚙 𝟸: 𝙵𝚒𝚗𝚍 𝚊𝚗 𝚊𝚐𝚎𝚗𝚝 𝚢𝚘𝚞 𝚝𝚛𝚞𝚜𝚝
Interview agents to find one who understands the market, is available to work with your schedule, is responsive, and is someone who you feel can guide you through the biggest investment you'll ever make! This is even more critical now than ever before in our current high-paced seller's market.

If you've been thinking about buying a home, send me a message or give me a call — I’d love to help you prepare, find, and buy a new home in 2022! It's never too early to start discussing next steps!

12/16/2021

All too frequently buyers save up for a down payment to purchase a home and then are surprised there are a number of other costs involved. I'm here to help you understand what else you should be budgeting for when saving for a new home.

These other costs and fees may include:

• The down payment (between 3-20%)
• Home inspections (anywhere from $300-1,000)
• Appraisal ($400-600)
• Mortgage/application fees
• Tax Escrows (typically a full year of taxes)
• Transfer Tax (varies per state, but usually between 1-2%)
• Title Insurance (varies per state, but usually 1-2%)
• Homeowners insurance
• HOA or condo fees if applicable

Keep in mind that these fees vary depending on location and other factors, and may also depend on what lender you use. If you are interested in getting a more exact idea of what buying a home may cost you, let's chat! I'd love to help set the right expectations so there are no surprises at the end.

Have questions about something you see? Don't be afraid to ask!

11/20/2021

A very common question that I get is, "𝘞𝘩𝘦𝘯 𝘴𝘩𝘰𝘶𝘭𝘥 𝘐 𝘴𝘵𝘢𝘳𝘵 𝘮𝘺 𝘩𝘰𝘮𝘦 𝘴𝘦𝘢𝘳𝘤𝘩?"

The first thing that I will ask you is: are you thinking about buying NEW or RESALE?

This is because the timeline differs quite drastically between the two.

✔️ New construction is typically 8-12 months out before you actually settle on your home. Taking into consideration build time, availability, delays in construction, supply chain and material delays, not to mention the time it takes for you to find the right home, land or neighborhood, and the right builder.

✔️ For resale you most likely want to start looking 3-6 months out, considering our current inventory shortage. You should account for the time it takes to find a home, as well as the time it takes to close (which can be anywhere from 30-60 days once you are under contract).

If you're thinking about buying a home, even if you're just in the "scrolling through Zillow in bed" phase, send me a message. I would love to send you my 𝗳𝗿𝗲𝗲 𝗵𝗼𝗺𝗲𝗯𝘂𝘆𝗲𝗿 𝗴𝘂𝗶𝗱𝗲 and answer any questions you may have about next steps!

11/10/2021

Ready to buy your first home, but not sure where to start?

That's what we are here for!

If you're not quite ready to talk to a lender and get a pre-approval yet, there are still a few things you can do to make sure you're ready to hit the ground running once you decide to start your home search.

• Work toward paying down debt (especially high-interest debt such as credit cards)
• Save a little from every paycheck to add to your downpayment
• Check your credit score and credit report
• Budget for expenses beyond your mortgage, and figure out how much you can afford monthly
• Stay in your current job
• Start gathering paperwork you will need to get pre-approved (paystubs or W2, bank statements, etc.)

If you're thinking of buying your first home, shoot us a message! We would be happy to share our 𝐇𝐨𝐦𝐞𝐛𝐮𝐲𝐞𝐫 𝐆𝐮𝐢𝐝𝐞 to help you navigate the start of your home search!

11/08/2021

𝗪𝗵𝗮𝘁 𝘆𝗼𝘂 𝗽𝗿𝗼𝗯𝗮𝗯𝗹𝘆 𝗱𝗶𝗱𝗻'𝘁 𝗸𝗻𝗼𝘄 𝗮𝗯𝗼𝘂𝘁 𝗥𝗲𝗮𝗹 𝗘𝘀𝘁𝗮𝘁𝗲 𝗔𝗴𝗲𝗻𝘁𝘀, 𝗯𝘂𝘁 𝘀𝗵𝗼𝘂𝗹𝗱!

• Unlike what most HGTV shows depict, we are not just there to open the front door for you and ask how you liked the home once you have gone through it. 𝚆𝚎 𝚊𝚛𝚎 𝚏𝚞𝚕𝚕𝚢 𝚒𝚗𝚟𝚎𝚜𝚝𝚎𝚍 𝚒𝚗 𝚢𝚘𝚞. We are there to help by answering your questions, educating you about the current market, pointing out concerns in a home, while highlighting great features, and also helping you to see the hidden potential. It is our job to help you buy your home with confidence, and we are there to be your trusted advisor and friend holding your hand and guiding you throughout the process.

• 𝘞𝘦 𝘥𝘰𝘯’𝘵 𝘨𝘦𝘵 𝘱𝘢𝘪𝘥 𝘶𝘯𝘵𝘪𝘭 𝘺𝘰𝘶 𝘴𝘦𝘵𝘵𝘭𝘦 𝘰𝘯 𝘺𝘰𝘶𝘳 𝘩𝘰𝘮𝘦. Yes, you read that correctly – we work for free, and show up for you and commit to you without a paycheck until you get the keys to your new home. We provide my buyers with lenders I trust and explain the mortgage process. We handle all of the paperwork – and yes it’s a lot! We will walk you through all of the important documents so that you understand what you're signing, and negotiate with the other agent to help you get the home of your dreams. Once we are under contract realtors can recommend inspectors that our past clients have loved, and go over what to expect with a home inspection as well as negotiate any necessary repairs. We keep you up to speed on the dates and deadlines to make sure you close on time, 𝘢𝘯𝘥 𝘴𝘰 𝘮𝘶𝘤𝘩 𝘮𝘰𝘳𝘦!

Address

Houston, TX

Opening Hours

Monday	10am - 5pm
Tuesday	10am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 5pm
Saturday	10am - 5pm
Sunday	2pm - 5pm

Telephone

+18324606670

Website

http://www.ariseresidential.com/

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