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What NOT To Do Before Buying A Home In North Texas

buying a home in north texas

As experienced Dallas real estate agents, we know that buying a home is an exciting and much-anticipated time in your life. You get loan pre-approval, perhaps even get under contract; already, you’re landscaping, updating the kitchen, living those dreams in your head. Before you go overboard, remember that loan pre-approval is not a guarantee that the sale will go through.

Here are a few things buyers should avoid between contract and closing day in order to seal the deal.

Avoid late payments. When waiting to close on a home, make sure you pay your bills on time – particularly the mortgage or rent payment. Even one late payment can substantially impact your credit score, so be sure to pay all of your bills on time for a minimum of 12 consecutive months before attempting to qualify for a home loan.

Losing or changing your job. Even if you shift positions within the same company, it can be significant. For instance, going from a salaried position to one that is commissioned can make lenders re-think their decision. You certainly don’t want to make a switch to a career in an entirely different industry. Best just to stay put if possible, as job hopping or losing a job can bring your dream to a screeching halt.

Becoming liable for another person’s loan. Co-signing is sometimes a risky financial move even when you’re not trying to buy a home. Essentially, when you co-sign for someone else, you are becoming financially responsible for that person’s debt. This could upset the apple cart with lenders in terms of your assets and debt-to-income ratio.

Don’t go on a wild shopping spree. Sure you want new furniture for the living room and dining room, perhaps even new window or floor treatments – but don’t go credit-crazy until the loan has closed! Again, any new payments, whether for furniture, new appliances, or a new car will negatively impact your debt-to-income ratio. Save the purchases for after your loan has closed.

At Team Nelson, we want to help ensure your dream of buying a home comes true! If you are looking into buying a home in North Texas, give our realtors a call today.

What People Are Saying

  • Best realtor and team in Texas. They always went out of their way to help and make sure our house sold quickly. We love Bill Nelson and team!!

    Angela Oster Avatar
    Angela Oster

    We had an exceptional experience with the Nelson Team. First of all, we are NOT related. The perfect opportunity unexpectedly presented itself in Grand Prairie. There was a beautiful cul-de-sac lot backing up to the woods of Joe Pool Lake that we, and many others, wanted but the builder was not releasing it. Total serendipity that we were the first in the sales office the day the builder released the lot. Problem was we had a house in Hurst to sell. I called on Team Nelson who immediately did our listing, had an open house, and sold it within days for the price we wanted and needed. Everything fell into place perfectly. I’m still amazed. We are now living in our retirement home on this beautiful cul-de/sac and have gorgeous views and privacy few have in our area and we have Bill and Andra to thank for it. The reduced realtor fee was a very important component to the deal coming together. They are the absolute best. You can totally trust them

    Sandra Nelson Avatar
    Sandra Nelson

    The Your Home Free team is very professional and efficient. They helped us through the entire process. I Highly recommend them and we will back for their service in the future.

    justin patzig Avatar
    justin patzig
  • I have used many realtors through the years and Team Nelson was by far the best I've worked with. I had several issues come up during the sale with the inspection and appraisal and Andra handled those with ease. Bill will work with you to come up with creative pricing strategies to help you get the most out of your home and they are extremely responsive to questions and problems. The marketing team also worked hard to make sure my home stayed at the top of the lists on all of the major websites. I recommend Team Nelson with no reservations.

    Teresa Lightner Avatar
    Teresa Lightner

    The entire buying and selling process with Bill and team was seamless. Thank you Team Nelson!

    Marc Botindari Avatar
    Marc Botindari

    Your Home Free LLC, - Team Nelson, is just a great group to work with! This is the 3rd home we have listed and sold with them. If we ever decide to sell our current home we will use them again! The incentive to buy your home through them and they sell yours for free, saves you thousands of...

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