Road to home ownership
We're here to help you navigate the path to owning your dream home. Let's explore the steps and how we can assist you in achieving your goal of homeownership.
Overcoming home buying hurdles
The biggest challenges first-time home buyers face are saving for a downpayment, managing debt-to-income ratio, and demonstrating verifiable income. To be the most competitive buyer, having at least a 20% downpayment saved up is ideal. However, there are many mortgage loan programs where you can have a much lower amount saved up, such as 10%, 5%, 3.5%, and in some cases, a 0% downpayment is acceptable. You will still need to have some money saved up for closing costs too (usually 1.5% - 5%). Lenders also like to see a manageable debt-to-income ratio. For self-employed individuals, lenders will most usually want to see a two-calendar-year track record. We can help you navigate these challenges with expert guidance and support.
Making the dream a reality
Many believe owning a home is unaffordable. Here in Texas, there is a vast inventory of homes to choose from, in all different price ranges. With a little time and planning, it is more affordable than you think. If you have a consistent working history, you can do this! There are simple strategies you can follow to start paying down your debt and setting money aside. If you are a first-time home buyer, sometimes all it takes is just getting that first starter home. In 5-7 years, the equity you build up could allow you to upgrade to your dream home! Home ownership is an essential part of your overall financial plan. Let us get you in touch with one of our preferred lenders to get an evaluation of where you stand!
Guidance for first-time buyers
If you are already well qualified to buy, and you know it, perfect! We are here to represent you in your homebuying journey! Depending on market conditions and desirable areas, we may be competing against multiple offers. If so, we will guide you on how to navigate those situations. In a softer market, you may be able to ask for more in your offer and negotiations. We are the real estate professionals who can consult you and guide you through those processes.
Your partner in home buying
Sky's The Limit Realty is a full-service Real Estate Brokerage here to guide you every step of the way until you are holding the keys to your new home!