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HMS is not a mortgage lender. Any reference to home loans or mortgages is for informational purposes only.

Are you ready to get out of the rent race? Is it your first time going through the home loan and house hunting process? Home Marketing Services in Dallas is committed to educating house shoppers on the process and their options.

1. Can You Still Get a Mortgage With Bad Credit?

Many home shoppers in the DFW area assume the answer to this question is a resounding “No.” That’s not actually the case. You may still qualify for a home loan even if your credit is far from perfect. The rate you qualify for today might not be the best rate on the market, but it’ll still likely be lower than the rates people were paying on home loans 30 or 40 years ago.

Before you assume you won’t qualify for a mortgage from any lender, it’s worth your time to speak with one who specializes in helping people with poor credit. The preferred lenders we work with at HMS have extensive experience helping people who have been previously denied home loans.

2. What Can I Afford?

The initial reaction of many homebuyers is to undervalue themselves and what their income and work history entitles them to in terms of borrowing. On the other end of the spectrum are borrowers who don’t realize how pricey homes are in certain areas or believe they can afford a home well beyond their means.

If you want to know for sure how much house you can afford, we can refer you to one of our preferred lenders. Your lender can tell you exactly how much you can afford so you can shop for homes with confidence and be taken seriously by sellers.

3. Why Should I Bother With a Real Estate Agent With All the Online Tools Available Today?

Experience and personal relationships still matter in Dallas–Fort Worth real estate. An experienced real estate professional can help you find a lender who fits your needs, will help you understand which areas are best for your family and provide invaluable advice on what to look for or avoid in a home.

Many HMS homebuyers end up purchasing new homes, and it’s often vital for your real estate agent to have a close working relationship with leading local homebuilders to ensure you get and keep your place in line.  

4. What’s the Difference Between Pending and Contingent?

Just because a home seller has accepted an initial offer doesn’t necessarily mean other home shoppers have lost their chance to buy a home. A “contingent” property listing means the seller has technically chosen to accept an offer but there are certain “contingencies” that must be met before the sale is truly approved.

Home sales fall through every day, and it’s not unheard of for contingent homes to be back on the market. A home sale that’s “pending” has met the contingency requirements. At that point the sale is being processed and it’s essentially a done deal.

5. Which Lending Programs Do I Qualify For?

Many Texas homebuyers are unaware of the many USDA, FHA and VA loan options that are available to people who are applying for loans. There are special loan programs for first-time homebuyers, veterans, people shopping for homes in rural areas and much more.

The only way to find out for sure if you are eligible for any advantageous mortgage programs is to speak with a lender. The team at HMS would be happy to connect you with our preferred lenders so you can learn about all your homebuying options.

Are You Ready to Get Started?

Dallas–Fort Worth renters who are tired of seeing their housing prices increase dramatically each year should strongly consider learning about the benefits of buying a new home. Even people who have been denied loans in the past may be able to attain mortgage pre-approval that will allow them to start shopping for great homes in the Dallas metro area.

Call HMS today at 972-392-9595 to get started.

HMS is not a mortgage lender. Any reference to home loans or mortgages is for informational purposes only.