Home buying tips

Less than you think. Conventional loans go as low as 3% down for first-time buyers, FHA is 3.5%, and VA and USDA are $0. The old "you need 20%" rule is only about avoiding mortgage insurance, not about qualifying.

The Texas angle: closing costs run roughly 2–4% on top of the down payment, but sellers here can and do cover them in negotiation. Ask us to structure the offer that way.

Conventional loans generally want 620+, FHA can work in the 500s with more down, and the VA sets no minimum at all (individual lenders do). Higher scores mostly buy you a better rate, not just approval.

Quick win: paying a credit card below 30% of its limit a month before applying often moves your score more than years of on-time payments. Don't open or close any accounts once you're shopping.

The rate is the interest on the loan. APR folds the lender's fees into that number, so it's the honest way to compare two offers. A lender advertising a low rate with high fees will show a high APR.

When you compare quotes, line up APR to APR on the same day, same lock period, same points. That's the only apples-to-apples comparison.

Pre-qualification is an estimate based on what you tell a lender. Pre-approval means your credit, income, and assets were actually reviewed, and it's the one listing agents take seriously.

In a competitive market a strong pre-approval letter, dated recently and matched to your offer price, is the cheapest advantage you can buy. Ours are free.

You can lock once you have a property under contract (sometimes earlier). Locks typically run 30–45 days. Trying to time the market is a coin flip; lock when the payment works for your budget.

If rates drop after you lock, ask about a float-down. If they drop after you close, that's what a VA IRRRL or a refinance is for, and why we set rate alerts for every client.

The classics: financing a car or furniture before closing, moving large amounts of cash between accounts without a paper trail, changing jobs mid-process, and undisclosed debts.

The rule: from application to closing, don't open credit, don't make big deposits you can't document, and tell your loan officer about anything unusual before the underwriter finds it.

Price isn't the only lever. A shorter option period, a larger earnest money deposit, flexible closing dates, and a lender who can actually close in 16 days all make an offer stronger at the same price.

An appraisal-gap clause (offering to cover a small gap if the home appraises low) wins deals, but cap it at a number you can genuinely write a check for.

No. In Texas the option period exists so you can inspect and still walk away. What you can do is shorten it (5 days instead of 10) or offer to take the home as-is for cosmetic items while keeping the right to walk on structural, roof, foundation, or HVAC problems.

Foundation issues are the Texas special. Never skip that part of the inspection.

Texas has no state income tax, so property taxes are high, often 1.8–2.5% of value per year, and they're usually escrowed into your monthly payment. Two identical houses in different districts can differ by hundreds a month.

Always compare the full PITI payment (principal, interest, taxes, insurance), not just the loan payment. And file your homestead exemption the year you move in; it caps how fast your assessed value can rise.

The VA loan ($0 down, no monthly mortgage insurance) is the headline, but Texas adds two more: the Texas Vet (VLB) rate discount, and property tax exemptions for disabled veterans, up to a full exemption at a 100% rating.

Most out-of-state lenders never mention the second and third. Here's how we stack them →