Houston Home Buyer Frequently Asked Questions

First time home buyer frequently asked questions

Most commonly asked questions when buying a Home

Q. How much can I afford?
The loan amount you qualify for depends on your income, credit rating, current monthly expenses, down payment and the interest rate. We encourage you to contact your local Houston mortgage officer

Q. Where can I find the best loan?
To find the best deal on a loan, you need to talk to several lenders, compare their fees and upfront costs and interest rates and negotiate to get a better deal. We STRONGLY encourage you to to get pre-approved for a loan before you start looking for a home.

Q. What’s a HOA?
An HOA is abbreviated for Home Owners Association. Over 90% of homes are part of Homeowners associations. For single family homes, they typically have an annual cost between $250 and $650 annually. This typically includes curb and sidewalk maintenance and community amenities such as Pools or Tennis Courts.  Golf course and gated neighborhoods may have HOA fees between $1,000-$2,000 per year. Townhomes/Condos have monthly hoa fees ranging from $0.25 per sqft to $0.80 per sqft monthly.  Townhome & condos HOA’s include Exterior Maintenance & Exterior Insurance in almost all cases, in most cases Water may also be included. Some cases may include Cable TV & Internet, and rare cases include Electricity. All are CASE-BY-CASE basis, important to verify what each independent association.

Q. What is next after an offer is accepted and signed?
Nema & his team will organize a home inspection. The licensed professional home inspector will spend 3-6 hours going through the home with a fine toothed comb, inspect every inch and cranny, and inform you about the condition of the home and can help warn you and prevent buying a home that is going to need major repairs in the near future.

Q. What else can 007 Signature Realty do for you?
Nema Ghalamdanchi will handle any of the details involved in home buying, walk you through the entire process and conveniently make the experience much easier. Nema has sold HUNDREDS of homes over the last decade, in all parts of Greater Houston and is well-acquainted with the neighborhoods you are considering, will help you find out the price range you can comfortably afford and will scour the Multiple Listing Service (MLS) for the best match homes you’ll definitely want to see. With immediate access to homes as soon as they are listed, your sales associate will save you hours of valuable time watching the market alone without experienced help. When the time has come to make an offer, Nema & his team will save you money, and expertly guide you through the necessary paperwork and answer any important last-minute questions.