"Not so good neighborhood???" Just tell him there will be more minorities living in these neighborhoods. The neighborhood is fine.
jmejia, i work for Royce Builders in the SW area off of 1464 and bellaire. We start in the $130's to $170s range with sq ft of 1500 to 2600.... www.roycebuilders.com subdivision is withers ridge email me if you have any questions with this or anything else....ive been in the business for quite some time.....
O.K. fellas. Here are my plans. I am currently in the military and am just looking for a nice starter home in a nice quiet neighborhood. I will be looking at a house of $250,000 or more about 6-7 years after I move in to the starter home. I would love to live in the Southwest area. I don't care about KB anymore, I trust you guys and gals if any.
That's the type of talk that gets car salesmen and bankers hyped. Anyway, it of course depends on the type of financing you get. Do you have enough for 20% downpayment? If not then you'll have to pay PMI (Private Mortgage Insurance). That adds to the monthly rate. Do you have good credit? That'll affect the interest rate as well as having money to buy down the points. I would estimate you can get a house around $100,000-110,000 for that price.
Not necessarily! There is an option on an 80/20 loan that allows you to avoid PMI by breaking the loan up into 2 liens, which also gives you the option to pay taxes and insurance at the end of the year as opposed to monthly. However you are pretty accurate in your house value estimate! There is also another loan program that allows your to pay interest only on your mortgage instead of principal and interest! This potentially could save you around $100-150 a month.....
I like www.har.com. You can search specific areas of the map for land or homes, pick your price range, shows pictures (most of the time) and gives details in terms of sq ft. rooms, upgrades, connections, etc. and has a handy little mortgage calculator. It also gives you the contact info for many different Realtors. Good luck.
Pocket Rockets, I did that, but it is a 80-5-15, where you do a big loan of 80%, pay 5% down, and do a separate loan of 15%. It saved the PMI. From the "moving out" thread, I recommended a friend: Almost-Home Properties' Delia B. helped us find our house. She is in the Chimney Rock / 59 area. Give her a call, and email me if she needs to know who sent you: http://www.har.com/MemberFinder/doMemberSearch.cfm?officeid=555200 .
In the Dallas market, KB Homes is considered junk. I think they're usually ranked very low among builders.
