Texas Home Lending News

Are you moving to Texas from another state? Perhaps you’ve decided (finally), to stop renting and buy a home in Dallas, Houston or Austin. We’re helping clients from out of state and locals here in Dallas get a home loan, which gets them in the home of their dreams. If you are one of these home buyers you have no doubt discovered how tight the Texas housing market is and how challenging it can be to find a home.

 Dallas, Houston and Austin Housing Market

According to an article this week in the Dallas Morning News, a Trulia analysis of building permits shows 1 out of every 10 new homes in the United States are being built in Dallas, Houston and Austin. Those Texas cities are on pace to build about 130,000 new homes in 2017. More than 10 percent of all new construction expected in the country for 2017.  Here in Dallas alone, 50,000 new homes are expected to be built.

 Buying a Home in Dallas and Other Texas Cities

There are a few factors to consider if you’re looking to buy a home here in Dallas or anywhere else in Texas. The first thing to take into consideration is the fast rate people from all over the country are moving here. We don’t know a single realtor who isn’t having to put higher bids on a house for their clients in order to get it.

The second factor is the shortage of housing in these markets even with new construction. Nationwide, homes listed for sale in any given month has been shrinking since mid 2015 according to Redfin.

 Mortgages For Dallas Homebuyers

Sublime Financial can help you buy a home in Dallas or anywhere else in Texas. We do this by getting you either pre-qualified or pre-approved.

Getting pre-qualified is the first step in any home buying situation, which isn’t an all cash deal. It’s generally fairly simple.  Homebuyers supply us with their overall financial picture including debt, income and assets. This gives us and the buyer an idea of how much home they can afford.

For the competitive market here in Texas we recommend our clients go a step further and get pre-approved at the start of their home search. Getting pre-approved means the buyer fills out the application with all the information to find out a more precise range of house they can afford. We then give the home buyer a conditional letter, which they can show the realtor. Sellers and realtors take note of potential buyers who have taken this extra step closer to obtaining the official mortgage. Often, getting pre-qualified can help our buyer move faster or get their offer accepted easier.