01
How do I prepare for my first purchase?
Start with what you can comfortably spend each month. Compare that amount with your lender's approval. Keep emergency savings separate from the money you will use to close.
- Review your credit, income and debts with a lender. Confirm which funds are available for the purchase.
- Ask what documents the lender has checked. A documented preapproval gives you more information than an initial prequalification.
- Add taxes and insurance to the loan payment. Check HOA and district charges for each home.
- Allow for mortgage insurance when it applies. Set aside money for routine maintenance after closing.
02
Where can I find Texas buyer assistance?
Start with the current Texas homebuyer programs and a participating lender. Some programs serve repeat buyers as well as first-time buyers. Your income and the purchase price are part of the eligibility review.
- Use the current TDHCA program information. Have an approved participating lender check the credit and property requirements with you.
- Compare the program's rate and fees with a loan without assistance. Ask about repayment and any recapture terms before accepting it.
- Keep an emergency reserve even if assistance reduces your cash to close. The money left after closing still matters.
03
What do I sign before touring?
For covered residential brokerage activity, Texas requires the applicable written agreement before your agent provides the service or showing. Read whether it creates representation or permits a showing without representation.
- Confirm the services and how long the agreement lasts. Review exclusivity and the negotiable compensation before signing.
- Before you make an offer, understand the option and financing deadlines. Ask how appraisal and inspection results affect your contract rights.
- Check insurance and title questions early. Leave enough time to use any applicable rights under your signed contract.