First Time Home Buyers
The House Is Affordable. But Is the Lifestyle?
Getting approved for a mortgage and being comfortable with the cost of owning a particular home are two different things. When buyers look at homes, it is easy to focus on the purchase price and estimated mortgage payment. But the house comes with a life attached to it, and that life has expenses that may…
Read MoreYour Down Payment Is Not the Same as Your Cash to Close
One of the most common surprises for homebuyers happens when they hear the words “cash to close.” They may have saved enough for their down payment and assume that is the amount they will need at closing. Then they see additional costs and wonder where all those numbers came from. Your down payment is part…
Read MoreThe One Number That Can Make or Break Your Mortgage Approval
When most people think about qualifying for a mortgage, they immediately think about one thing: their credit score. While your credit score is certainly important, it isn’t the only number lenders look at. In fact, I’ve seen buyers with excellent credit qualify for less than they expected, while others with average credit qualified with no…
Read MoreShould You Wait for Interest Rates to Drop Before Buying a Home?
It’s one of the questions I hear most often: “Should I wait for interest rates to come down before buying a home?” The answer depends on your personal situation, but waiting isn’t always the best financial decision. While a lower interest rate can reduce your monthly payment, home prices don’t always stay the same. As…
Read MoreTownhome vs Condo: What’s the Difference and Does It Matter for Your Mortgage?
When buying a home, many buyers come across properties labeled as townhomes or condos and assume they are the same. While they may look similar, mortgage lenders view them very differently—and that can affect your loan approval, interest rate, and overall financing process. Understanding these differences upfront can help you avoid surprises once you’re under…
Read MoreHow Student Loans Affect Mortgage Qualification in Texas
If you’re thinking about buying a home and you have student loans, one of the most common questions is whether those loans will count against you in the mortgage approval process. The short answer is yes—student loans are almost always included, even if they are currently deferred. Understanding how student loans are calculated can make…
Read MoreBuying a Home While Renting: How to Avoid Paying for Two Places at Once
Timing the purchase of your first home while you’re still renting can feel overwhelming. The last thing you want is to be stuck paying both rent and a new mortgage at the same time. With the right planning, though, you can make the transition smooth and even save money in the process! When Does Your…
Read MoreWhat Costs Are Actually in Your Monthly Mortgage Payment? Let’s Break Down the Total
At Liberty Star Mortgage, we’re often asked: “What exactly is included in my monthly mortgage payment?” Understanding the components of your mortgage can help you plan and budget with confidence, especially if you’re a first-time homebuyer. Here’s a breakdown of the four main costs that typically make up a monthly mortgage payment: 1. Principal &…
Read MoreFirst-Time Homebuyer Grant Programs: What You Need to Know About Help with Closing Costs
If you’re a first-time homebuyer wondering if there are programs available to help with closing costs, the short answer is yes there are. But at Liberty Star Mortgage in Fulshear, Texas, we want to make sure you know the full picture before committing to one of these programs. Can Grant Programs Help with Closing Costs?…
Read MoreWhen Should You Start The Home Buying Process?
Many people know they want to buy a home, but aren’t sure when they should make that move. It’s a future goal, but figuring out when to start can be tricky. One thing is clear: the best time to call a loan officer is right now, even if you’re still in the early stages of…
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