Buying a home in Longview

Buying your first home can feel like a pile of paperwork and acronyms. It gets a lot simpler when you can see the whole path at once. Here are the steps most Longview buyers go through, what each one is for and the questions worth asking along the way. No rates or loan offers on this page, just how the process works.

The path, step by step

1. Get clear on your comfortable monthly budget

   Start with what you want to spend each month, not the biggest number a lender might approve. A house payment usually includes principal and interest plus property taxes and homeowners insurance, and sometimes mortgage insurance and HOA dues. Leave room for utilities, upkeep and the rest of your life.

2. Check your credit and savings

   Pull your free credit reports at annualcreditreport.com and fix any errors. Add up what you've saved for a down payment, closing costs and a cushion for after you move in.

3. Talk with a lender and get pre-approved

   A pre-approval means a lender has reviewed your income, assets and credit and can tell you what you may qualify for. It's stronger than a quick pre-qualification, and most sellers expect to see one with an offer. It's also the best time to ask which loan types fit you. Conventional, FHA, VA and USDA loans each have their own eligibility rules, and the right fit depends on your situation.

4. Pick your real estate agent

   A local buyer's agent knows the neighborhoods, the pricing and the way deals get done here. Ask how they're paid and get your agreement in writing before you start touring.

5. House hunt with an East Texas eye

   Use the checklist below. Pretty houses are easy to love; the questions about trees, water and drainage are what save you money later.

6. Make an offer

   Most Texas home sales use standard contract forms from the Texas Real Estate Commission. Your agent will help you set the price, earnest money, option period, closing date and any repairs or seller contributions you ask for.

7. Inspect during your option period

   In Texas, buyers commonly pay a small option fee for a set number of days to inspect and decide. Use that time for a general home inspection and any specialized checks the house calls for, like termites, foundation, septic, a well or the roof.

8. Appraisal and underwriting

   The lender orders an appraisal and finishes reviewing your file. Keep your finances steady: don't open new credit, change jobs or move large sums of money without asking your lender first.

9. Review your disclosures

   You'll get a Loan Estimate after you apply and a Closing Disclosure at least three business days before closing. Compare them line by line and ask about anything that changed. Our guide to reading a Loan Estimate walks through every section.

10. Close and get your keys

    In Texas, closings usually happen at a title company. Bring your ID and confirm how to send your funds. Always verify wiring instructions by phone with a number you already know, because wire fraud scams target homebuyers.

11. After you move in

    File your homestead exemption with the appraisal district, set up a maintenance calendar and keep your closing documents somewhere safe.

East Texas house-hunting checklist

• Foundation. Clay soils in parts of East Texas shrink and swell with the weather. Look for sticking doors, cracks in brick or drywall and uneven floors, and ask your inspector about it.
• Drainage. Where does water go in a heavy rain? Look at gutters, grading and low spots in the yard.
• Trees. Big pines and oaks are beautiful. Check for limbs over the roof and roots near the foundation or sewer line.
• Roof and HVAC. Ask for the age of both. Summers here are hard on air conditioners.
• Water and sewer. City service, a water supply corporation, a well or septic? Wells and septic systems need their own inspections.
• Pests. A termite (wood-destroying insect) inspection is common and worth it.
• Flood zone. Check the address at msc.fema.gov and get insurance quotes before your option period ends.
• Taxes. Look up the property on the appraisal district site and note every taxing unit.
• School zone and commute. Confirm both with the exact address.

Common first-time buyer questions

How much do I need for a down payment?

It depends on the loan type and your situation. Some programs allow a small down payment and some eligible buyers may qualify for none, while others require more. A lender can walk you through the options you actually qualify for.

What are closing costs?

They're the fees and prepaid items needed to finish the purchase: lender charges, title insurance, appraisal, recording fees and the first deposits into your escrow account for taxes and insurance. Your Loan Estimate lists them.

Are there down payment assistance programs in Texas?

There are state and local programs with their own income, price and eligibility rules, and they change over time. Ask your lender which ones, if any, could fit your situation.

Should I buy now or wait?

Nobody can time the market. A better question is whether buying fits your budget, your plans for the next several years and your savings cushion. A good lender conversation should help you answer that honestly, even if the answer is "not yet."