There are different life events that motivate people to stop renting and look for a home to buy. You could be motivated by the decision to grow your family, while another person could look to homeownership as a long-term investment. Just as there are different reasons why people decide to look for their first home, there are different loan terms that can help you purchase a property. FHL Texas can help you navigate the different questions and concerns you have around securing the right terms for your loan. With insights into the mortgage process and housing market, along with a no-obligation preapproval, we can make buying easier from the beginning. We can also talk to you about long-term plans after making a purchase, including information on why you might consider refinancing at a later date. (more…)
Your first homebuying experience can certainly be educational. That being said, there are challenges to face for those who have been through the process before, too, which makes the right support particularly important. With FHL Texas to help guide you through the financial aspect of property purchases, you can make a challenging and potentially confusing process easier! Guidance on what you should be ready to spend, how you can secure the right loan terms, and what you can do with the equity you build over time can all be helpful. We are happy to guide you through your first home purchase or your next one. We can also support you when you look into buying a vacation home or an investment property! (more…)
Not every home purchase is as simple as securing a place for the owner to live. FHL Texas can help you with different kinds of homebuying, such as the purchase of a second or vacation home or an investment property. Buying property for investment purposes can help you in the long term in exciting ways. However, it can also bring certain challenges both before and after you buy. Because this kind of purchase is different from regular buying, you can run into challenges you never faced before when it comes to homeownership. Fortunately, you have our experience to draw from! From your initial consultation through the securing of the right loan, we can help you achieve your goal of property investment. We are also here to support people who hope to refinance investment properties that they already own. (more…)
When you secure a mortgage, you receive a set of terms that ultimately affect what you pay each month and for how long you will owe on your loan. Sometimes, the best terms that are available to you are not going to be ideal in the long run. In this situation, there is something you can do—through refinancing, you can use the availability of better interest rates and your home’s equity to establish a new loan to replace the one you have been paying off. This can affect how much you need to budget in terms of your monthly expenses, what you owe, and even how long you will need to continue paying. There is even an option to use a cash out refinancing to take immediate funds that you can use to your benefit. FHL Texas is happy to consult with you on when to make a move on refinancing and what kind of terms you can secure. We have experience with this and many other matters related to homebuying, refinancing, reverse mortgages, and more. (more…)
What do you gain from building your savings over time? Part of why you should set aside money is to make sure you can protect yourself when the unexpected happens. Medical concerns, car repairs, unemployment, and other issues can come with costs that you will have to clear. However, you should not think about savings as only a way to prepare for negative events—building up your account will also help you prepare for positive life events, such as the purchase of your first home. FHL Texas has experience helping people ready to buy for the first time. As important as it is to establish your savings and prepare to make your down payment, you can find that loan terms are available to help you secure your property with a limited initial payment. (more…)
When it comes to buying a home, the property cost is far from the only factor that affects what you will be paying from month to month. Different loan types offer different terms in the short and long term, and some come with additional costs that you will need to factor into your budgeting. One important matter concerns your choice to receive an FHA or conventional loan. Both have their advantages, but it can be hard for you to assess which is right for you as an individual buyer. How can you make sure you secure the right funding and have the right terms for the life of your mortgage? FHL Texas can work closely with you to find the backing that makes the most sense for you over time. (more…)
It has somehow been hotter than usual in North Texas lately, but it is luckily cooling down over the next few days. Yes, this is all relative, but we should still rejoice in the less-scorching temperatures. This reprieve gives us the opportunity — and motivation — to go out and enjoy the myriad offerings the DFW metroplex has to offer. Because it is a long weekend with the 4th of July rounding things off, there are plenty of activities to choose from. While not an official selection, stopping at Dairy Queen for a Blizard on the way to the fireworks stand is always a worthwhile pursuit. In today’s community blog, Family Home Loan Texas presents some of the best activities you and your family can partake in this weekend. (more…)
Well, it’s going to be a scorcher this weekend. Granted, it’s been a scorcher for the past week, and all this heat makes it tough to keep track of days, weeks, our own names, etc. Yes, this is Texas and yes, it is summer, but there’s something different about this heatwave; it just feels…mean. With that said, we cannot let the weather win; we mustn’t hide away in our airconditioned homes, letting the triple digits dictate our lives. Rather, let’s go out and enjoy everything the DFW metroplex has to offer (don’t worry, most of it is inside). In today’s community blog, Family Home Loan Texas showcases some of North Texas’s most promising family-friendly events. (more…)
Are You Looking For A Low Down Payment Mortgage?
Several loan programs can help home buyers with a lower income and/or low down payment. One such program is the Fannie Mae HomeReady mortgage.
You could pay as little as 3% down on a HomeReady loan. That’s $6,000 down on a $200,000 home — even less than the FHA’s 3.5% down payment.
Plus, you could use gifts, grants, or a down payment loan to help cover your upfront costs. And co-borrowers living in the home or outside of it can be on your application.
This makes HomeReady one of the easiest mortgage programs to qualify for. (more…)
Welcome to another community blog post! We publish these every Friday to highlight some of the most alluring and interesting events going on around the DFW Metroplex each weekend. Although Dallas and the surrounding areas might not have the luster and prestige of New York, LA, or Chicago, they are still filled with fun and interesting goings-on. This weekend perfectly highlights the wide range of appeal that North Texas has. Why not sample some of the excitement happening and venture out this weekend. In today’s community blog, Family Home Loan Texas showcases some of North Texas’s most promising events and activities. (more…)