First Time Home Buyer Tips
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…
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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…
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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…
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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…
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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…
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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…
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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…
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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 &…
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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?…
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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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If you have a low credit score, you may be wondering if homeownership is possible. The short answer? Yes, you can buy a home with a low credit score. But the real question is… should you? That depends on your financial situation, loan options, and long-term goals. What is the Minimum Credit Score to…
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Recently, there’s been a lot of talk about whether real estate agents are necessary in today’s market. Some believe you can handle the process yourself, skipping representation altogether. While it’s true that buying or selling a home involves plenty of resources at your fingertips, nothing replaces the expertise and guidance of a seasoned professional. If…
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Are you dreaming of owning an investment property? At Liberty Star Mortgage, we have a strategy to help you achieve this goal while securing the benefits of a primary residence loan. It’s all about combining smart planning with creative financing. @collettesmortgagetips Let’s talk about how you can buy investment property along with a primary residence!…
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Congratulations on earning your degree! If you’ve just graduated and are ready to take the next big step—homeownership—you may be closer than you think. @collettesmortgagetips Just graduated college and ready to buy your first home? Did you know that your college transcript can count as your job history!? If you’ve got that shiny new degree…
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Buying a home is an exciting milestone, but understanding the costs involved can feel overwhelming. At Liberty Star Mortgage in Fulshear, Texas, we’re here to break it down and help you plan your budget effectively. Here are answers to some of the most common budget questions when purchasing a home. What Costs Should You Expect…
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At Liberty Star Mortgage, we take your safety seriously and we want to help you protect your hard-earned money during your homebuying journey, and we need to talk about something that could cost you big—wire fraud. What is Wire Fraud? Wire fraud occurs when a scammer tricks you into wiring your money to the wrong…
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As a first-time homebuyer, you’re likely overwhelmed with all the decisions you need to make. One of the most important, yet often overlooked, aspects of buying a home is understanding what a home warranty is and why you might want one. What is a Home Warranty? A home warranty is a service contract that covers…
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Congratulations on closing your new home! This is a huge milestone, but the journey doesn’t stop here. To help ensure your transition into homeownership is smooth and stress-free, here are six essential tips to follow after you’ve closed on your new home. 1. Request Both Paper and Electronic Copies of Your Closing Documents When…
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When buying a home, there’s often confusion about what’s included in your escrow account, particularly regarding Homeowners Association (HOA) dues. Many people assume that, like property taxes and homeowners insurance, their HOA fees will be collected monthly as part of their escrow payments. However, this is a common misconception. HOA Payments and Escrow: What’s the…
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Welcome to Mortgage Math, with Mortgage Expert, Collette Horton! Let’s break down how your tax rate significantly impacts your monthly mortgage payment. Sometimes it can mean the difference of HUNDREDS of dollars per month! When you’re planning to buy a home, one of the most crucial factors to consider is how your tax…
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Buying a home is one of the most significant financial decisions you’ll ever make. To help you navigate this journey, we’ve compiled four essential tips that every homebuyer should know. Whether you’re a first-time buyer or looking to upgrade, these insights will ensure a smoother and more successful experience. 1. Get Pre-approved Before You Start…
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Buying your first home in Houston is an exciting milestone, but it can also be a daunting process filled with new terminology and important decisions. To help you navigate this journey, we’ve put together an essential guide for first-time homebuyers in Houston. Follow these steps to make your home-buying experience as smooth and enjoyable as…
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Buying a home is a major milestone, and the process can be both exciting and stressful. One crucial aspect to keep in mind is the impact of your financial decisions leading up to the closing date. Making big purchases before closing on a home can jeopardize your mortgage approval and delay your move-in date. Here’s…
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A step-by-step game plan for what to expect from initial consultation all the way through to the closing of your home. 1. Initial Appointment The purpose of the initial appointment is to understand your “needs and wants” as a buyer. This may be the most critical meeting of the home buying process. During this appointment,…
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