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832.483.0829

The Gifford Group

Signed in as:

filler@godaddy.com

  • Home
  • Home Search
    • 55 Plus Communities Homes
    • Cypress Homes
    • Dream Homes
    • Find A New Home
    • Home Listings
    • Homes with pool
    • Katy Homes
    • Houston Homes
    • Fulshear Homes
    • Missouri City Homes
    • New Construction Homes
    • Land for Sale
    • Map Search
    • Richmond Homes
    • Spring Homes
    • Sugarland Homes
    • The Woodlands Homes
    • Tomball Homes
    • Foreclosure homes
    • For Lease Homes
    • Advanced Home Search
  • Home Resources
    • Apply Now
    • One-Stop Real Estate
    • Current Mortgage Rates
    • What Is My House Worth
    • Home Buyer's Guide
    • Home Seller's Guide
    • Owner Financing Homes
    • HAR Houston Homes
    • Houston HOA Homes
    • Real Estate Market News
  • Blog/Info
    • New Beginnings Blog
    • Contact Us
    • Order Our Book
    • Our Team
    • Real Estate Agents
  • Calculators
    • Buy Vs Rent Calculator
    • Mortgage Calculator
    • House Affordability
    • Closing Cost Calculator
    • Reno Loan Calculator
    • Capital Gains Calculator
    • Mortgage BuyOut
    • Blended Rate Calculator
    • Mortgage Assumption Tool
    • Seller Net Sheet Texas
    • Buyer Closing Cost
    • Property Taxes Calculator
    • 3/2/1 BuyDown Calculator
    • Rate Buydown Calculator
    • Real Estate Commission
    • Rental Calculators
    • Refinance Closing Cost
    • BRRRR Calculator
    • Cash on Cash Returns
    • Loan Comparison Tool
    • DSCR Loans
    • Inherited property Homes
    • Home Builder Discounts
    • FHA 203K Loan Calculator
    • Energy Cost Calculator
    • Affordability of Rent
  • Divorce
    • Navigating Divorce Book
    • Child Support Calculator
    • Divorce Buyout Calculator
    • Divorce Videos
    • Divorce Real Estate
    • My Divorce Real Estate
    • Refinance Now
    • Divorce Checklist
    • Divorce Resources
    • Divorce Seminar
    • Divorce Support
    • What Happens To The House

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Property Taxes Calculator how to use it.

Property Tax Calculator for Texas, Discover How to Calculate Property Taxes with Ease! 


Also, Check out our Mortgage Calculator


Read Do I Need an Agent When Buying A New Construction Home?


Energy Cost Calculator

Property Tax Calculator with 100K Exemption

DOWNLOAD THE COMPLETE BUYERS GUIDE

Buyer closing cost calculator

How much money do you need to buy a home?

We walk through how the calculator works. 

Read more in our blog about Buyer closing cost


Also, Check out our seller closing cost calculator as well. 

How Much Money Do you need to buy a home?

How much House Can I afford?

 Whether you're a first-time buyer or a seasoned homeowner, understanding closing costs is crucial for a smooth real estate transaction.  


Mortgage Calculator 

*Determine how much house you can afford 


Read more in our blog about  

How much of your income should you spend on housing?

New Home Buyer

Using Loans to Buy a home in Texas

Texas first-time home buyer loans

First-time buyers with 20% down payments can get conventional loans - probably with a low-interest rate and no private mortgage insurance (PMI).  

You can keep your mortgage payments low by putting 20% down. 


You might gain an edge in competitive housing markets like Houston by showing that you are a strong buyer.   


Despite this, few first-time borrowers have saved that much.  Fortunately, there are several types of mortgage loans that can help buyers get into a new home with little or no down payment:  


Will Applying for a new mortgage affect my credit? 

Yes, and it could lower your credit score by a few points, which could lower your credit score by a few points, we have read it will likely affect your score by between 15 points.  But note we have to pull from all three credit bureaus, and then we take the middle score.   


 

What you need to know about credit scores and home buying

 



TYPES OF FINANCING 

These are the basic types of loans used to finance the sale/purchase of Real Property.


Conventional loan - 5% down payment and 620 minimum credit score. You can usually stop paying mortgage insurance after a few years until you reach a 78% loan to value.  


Conventional loans are loans that are neither insured nor guaranteed by the federal government. These loans often have requirements for a higher down payment of 20% of the market value or more, unless private mortgage insurance is to be paid by the borrower. On these loans, interest rates, loan-to-value ratio, and amortization periods are usually negotiable. A good rule of thumb is that the lower the down payment and the longer the amortization period, the higher the interest rate


See the market Current Mortgage Rates or apply now to get approved and get your personal interest Rate


FHA loan – Backed by the Federal Housing Administration. 

3.5% down and a minimum credit score of 580. 

Mortgage insurance is required until you refinance, move, or pay off your loan. 


FHA loans are insured by the Federal Housing Administration. 

These loans require a small down payment and are obtained through approved lenders. By providing insurance to the lender, the FHA attracts lenders to loans they would not otherwise be interested in making. In order to qualify for FHA insurance, buyers must meet some conditions. The FHA requires that the borrower pay a mortgage insurance premium in monthly installments as a part of the regular loan payment. The FHA requires a property appraisal before it will commit to ensuring any loan. The maximum loan amount is set by the appraised value or the sale price, whichever is lower, and the buyer must pay the difference in cash. No secondary financing of any kind is allowed. Most FHA loans are made for thirty-year periods, and the interest rates are set by the market conditions.


VA loans - are available only to veterans. 

No down payment is required. 

The minimum credit score varies by lender but is often 620. 

No ongoing mortgage insurance after closing. 

VA Loans are arguably the best mortgages available, so check your eligibility if you have a military service history.


VA loans are loans that are guaranteed by the U.S. Department of Veteran Affairs. 

These loans are often available with no down payment. The guarantee is free to the Veteran. 

The Veteran must receive a Certificate of Eligibility from the VA before applying for the loan. The VA must appraise the property. A veteran applying for a VA loan must sign a document stating that he or she will occupy the property. As with FHA loans, most loans have thirty-year terms, and the interest rates are set by the market conditions. 


The maximum loan amounts for FHA and VA change periodically to accommodate real estate values over time.


USDA loan – For those on low–to–moderate incomes buying in designated rural areas. Zero down payment is required. Credit score requirements vary by lender but are often 640.  

USDA Loan Eligibility Map 


Low mortgage insurance rates Texas State Affordable Housing Corporation loans – Special home loans for public servants and low–income buyers. It's important to remember that a down payment isn't the only upfront cost when buying a house. 

Additionally, closing costs often amount to 2–5% of the loan amount.  


First-time buyers can make their upfront costs more affordable with help from the down payment and closing cost assistance programs. 


There are many types of loans available. Some of the more popular types include: 

Amortized loan -Borrowers make regular equal payments of principal and interest until they repay the loan in full. The term can be anything from 10 to 30 years, but the most common terms are 15 years and 30 years. This loan is often referred to as a fixed-rate loan.  


Adjustable-Rate Mortgage (ARM) - This loan is paid like an amortized loan, but the interest rate changes or is adjusted periodically. The rate is usually tied to some readily available index, and changes from period to period are usually limited or “capped.” This loan can often give the buyer the lowest available monthly payment at the start of the term. However, the rate will fluctuate, and so will the payments. The maximum allowable adjustment over the life of the loan is also usually capped.


Remember that your mortgage payments will also include property taxes and homeowners' insurance. Factor these homeownership costs in when estimating your home buying budget. 


We also offer Non-QM Loan products? Contact us to learn more

Texas first–time home buyer programs

 There are numerous sources of help for a first–time home buyer in Texas.  

 Income limits for both programs vary by county. But there’s an online eligibility test that will tell you whether your application might succeed. 

Find out more

5 Ways Real Estate Makes you Rich

Ready to discover the incredible wealth-building potential of real estate? 


our latest video, "5 Ways Real Estate Can Make You Rich," and unlock the secrets to financial success through property investments.  


We'll explore the five key strategies that can help you build wealth through real estate. 


Get Preapproved today to buy! 

Home Buyer Resources

Do I Need an Agent When Buying A New Construction Home?

Buying New Constructions Home, do you need a realtor?

First time home buyer


We have heard this time and time again. "Oh, I don't need an agent on the buy-side because I am buying new construction." We want to be blunt here, in our opinion that is just asking for trouble.   Most homebuyers don’t know you can work with both your Realtor® and the builder’s on-site sales agent.   We want to remind you, that if you don't have an agent on your side when you are buying a home you don't have someone looking out for your best interest. 


Read More



Read more in our blog about Buyer closing cost


Buying a Home in Houston: What You Need to Know?

Buying a Home in Houston: What You Need to Know


Houston has a thriving real estate market that's perfect for anyone looking to settle down there. Yet home buying is an overwhelming process, especially in a city like Houston that plays by its own rules.  Here are just a few things you will want to know about Buying a home in Houston...


Read more



Wondering about Schools? Here is a 

 LIST OF SCHOOL DISTRICTS IN TEXAS 


HAR MLS Market Areas Map and Homes


 FEMA Flood Maps

A Mortgage Loan Officer YOU can Trust

A Mortgage Loan Officer YOU can Trust

Get Pre approved with Mi Mutual today

Mortgage Banker | NMLS # 2357310

 

Conventional Loans  

 Conventional Loans have more options for a wider range of properties and buyers. 

Do you need PMI?   


FHA Popular with first time buyers,   FHA Loans allow borrowers with 3.5& down to finance a home.    


Buy with only 3% down? 


Cash Out Refinance   

A cash-out refi happens when you replace an existing home loan by refinancing a larger loan.    


VA and HERO Loans  

Our Hero Loan program covers both VA Loans as well as Hero loans for our Community Heroes.

 Through VA financing, borrowers can purchase their home with a minimum 0% down payment. 


"Buyout" Loans

Loans that let you buyout your spouse. 


Looking for Non-QM products? 

Apply Now

What you need to know about credit scores and home buying

We talk about what credit score is needed to buy a house. We talk about what we are seeing in the real estate market, and what different times of loan programs you can get with your credit scores.   


Get Preapproved today to buy! 

Looking for non-QM products? 

Houston Schools and Local Information

Information about the Houston area

Area Information:

  • State of Texas
  • City of Houston


School Districts

  • Clear Creek ISD
  • Spring ISD
  • Cypress - Fairbanks ISD
  • Conroe ISD
  • Katy ISD
  • Ford Bend ISD
  • Pearland ISD


Houston Area Counties

  • Brazoria
  • Fort Bend
  • Galveston
  • Harris
  • Mongomery
  • Waller
  • Katy Chamber of Commerce


Houston Area

  • Houston Area Information
  • Visit Bay Area Houston 


Houston Area Suburbs

  • City of Katy
  • Katy, TX
  • City of Sugar Land
  • City of Richmond
  • City of Rosenberg
  • City of Pearland
  • City of Clear Lake
  • City of Humble
  • City of Tomball
  • City of Spring
  • City of Cypress
  • The Woodlands
  • City of Conroe


 

Real Estate News

Houston Real Estate News and Real Estate News Providers are available on HAR.com. Have access to real estate news, real estate market updates, real estate organizations, residential real estate, and commercial real estate information.


Houston Real News - This is Houston’s Real Estate Newspaper, free and online, covering the major issues affecting Houston real estate agents and investors. 

Do you prefer to receive the latest real estate information online? Each month HAR publishes an online version of the Houston Realtor giving you the ability to search from more than two years worth of information online. 


Houston Newcomer Guides - Free Houston-area newcomer and relocation guides.


Inman News Feature - A comprehensive news site that presents daily articles about the residential, commercial, and consumer industries. Compelling commentary is also included.


Realty Times - Free Houston-area newcomer and relocation guides.


Realtor Magazine Online - Realtor Magazine Online continues its winning streak. On the heels of two prestigious awards in 1999, the interactive cyber complement to REALTOR® Magazine won the Society of National Association Publications' 2000 Silver Award for Electronic Publications/Web Sites in the editorial content and design excellence categories.


Real Trends - A publishing and communications company providing news, research, and information-based services to the residential real estate industry. learn more


Rismedia - A publishing and communications company providing news, research, and information-based services to the residential real estate industry. learn more


Local & National News


Houston Chronicle

Houston Business 


Search For a New home?

 See Current homes for sale in these parts of town. 


 

We have lived in Tomball, Missouri City, Spring, Cypress and have worked from Richmond to The Woodlands to Sugarland to League City to Fulshear. 

We are local Houston Realtors with the knowledge you need.

Humble

The Woodlands

55 Plus Communities

New Construction Homes

Memorial


  • Humble
  • Memorial
  • Sienna (Plantation) 
  • Riverstone  
  • Lake Olympia  
  • Quail Valley 


New Construction Homes


Looking for Land for Sale? 


 Is your home in a MUD or Water District? Check out TCEQ Water District Viewer


Find the Perfect Home with the pool of your Dreams. Homes with Pool



Did you know that Homeowners Have a Higher Net Worth? 

Houston area Information and School District  info

Houston area Information and School District info

In the Market to buy, Check out this tips on buying a home

5 Tips for First Time Home Buyers

Electricity Cost Calculator

Loan Resource center

Down Payment Assistance Programs


A search for homeownership programs matching your criteria found 16 programs and up to $25,000 in down payment help. Please contact your agent for more details and how to get started.


Down Payment Programs


CBC Mortgage Chenoa Fund - FHA and Edge Repayable Second Program

CBC Mortgage Chenoa Fund - FHA and Edge Soft Second Program

CBC Mortgage Chenoa Fund - FHA and Rate Advantage Program

Texas State Affordable Housing Corporation (TSAHC) DPA 2nd Lien Program

Texas State Affordable Housing Corporation (TSAHC) DPA 2nd Lien Program - Targeted Areas

Texas State Affordable Housing Corporation (TSAHC) Grant

Texas State Affordable Housing Corporation (TSAHC) Grant - Targeted Areas

CBC Mortgage Chenoa Fund - Conventional Standard 97 Program

Lubbock Housing Finance Corporation Homeownership Across Texas (HAT) Grant Program - Conventional

Lubbock Housing Finance Corporation Homeownership Across Texas (HAT) Grant Program - Conventional

Lubbock Housing Finance Corporation Homeownership Across Texas (HAT) Program - USDA/RD


Affordable First Mortgages


Texas Department of Housing & Community Affairs (TDHCA) My CHOICE Texas Home Program - Government

Texas Department of Housing & Community Affairs (TDHCA) My CHOICE Texas Home Program - Conventional

Texas Department of Housing & Community Affairs (TDHCA) My CHOICE Texas Home Program - Conventional - Target Area

Texas Department of Housing & Community Affairs (TDHCA) My CHOICE Texas Home Program - Government - Targeted


Additional Options

Covenant Community Capital Corporation - Smart-Savings IDA Program


Disclaimer

Any communication provided to you by Workforce Resource LLC and/or Houston Association of Realtors, Inc. is for informational purposes only and should not be relied upon. Neither Workforce Resource LLC nor Houston Association of Realtors, Inc. is a mortgage lender or administrator of any down payment assistance programs. You should contact the administrator of any assistance programs directly to learn more about program features and eligibility criteria.

Down Payment resource

Down payment Assistance Resource 



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Amber Gifford, TREC Lic. #0732687

INFORMATION ABOUT BROKERAGE SERVICES 


Scotty Gifford TREC Lic. #0740987

 Information About Brokerage Services



Scotty Gifford NMLS ID # 2357310

Mortgage lender is mimutual  NMLS # 12901   

MiMutual Mortgage is not affiliated with The Gifford Group. 

Scotty Gifford is both a licensed real estate agent and Mortgage Loan Officer (MLO) at MiMutual Mortgage
Texas Real Estate Commission Consumer Protection Notice


 Broker is Amber Gifford of The Gifford Group, LLC

Real Estate LLC, License #9014675 



 

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