There are a few things in life for which there are actually handbooks and outlines to help guide us through difficult or confusing situations. Like buying a house.
For those other things in life that do not have handbooks, well, we just can’t help quite yet. But, we do have some information for you.
If you’ve been trying to figure out how to buy a house in Texas then you’re in the right place. In this article, we’re outlining the basics of what it takes to finally own your dream home and a few programs that might help. Keep reading to learn more.
How to Buy a House in Texas
If you’re a first time home buyer, there are more options than you may think to own a home. Let’s take a look.
The first thing you need to do is to become qualified to buy a home. Then, you can start searching for programs that will serve your needs.
National first time home buyer’s programs include grants and discounts.
The Texas Department of Housing and Community Affairs, also known as the TDCHA offers programs to first time home buyers to help qualify for loans.
Texas State Affordable Housing Corporation has several programs that help to provide down payment assistance and mortgage loans to first time home buyers.
USDA loans and FHA loans are popular ways to obtain a home loan for first time home buyers, especially with less than stellar credit.
Find a Real Estate Agent
Once you find the program that suits you and lines up with your lender, it’s time to get a real estate agent. This agent will help you shop for the right home within your budget and guidelines.
Find a Home
Your real estate agent will play a big hand in finding your home but you can do your own research, too. Sites like Zillow and Realtor.com usually have current and updated listings.
Submit an Offer
Now that you’ve found the home you always knew you wanted, you can submit an offer to the current owner. Be patient, many offers are accepted the first time.
Inspections and Appraisal
Before you can purchase the home, officially, you must have inspections and an appraisal must be done to ensure the safety and value of the home. The fees for these reviews will be included in your closing costs.
The closing process will vary by state and lender but most typically involve signing all required documentation and paying closing costs. Your realtor and a representative for the lender will be available to ask and answer questions.
Now that you know how to buy a house in Texas and maybe even save some money doing it, take a look at this post that outlines a few ways to lower your home insurance costs.
We hope you found this information helpful! Don’t forget to check back frequently for more news and tips about everything you need to know!