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Chiriboga Realty LLC Blog

Tuesday, February 2, 2016   /   by George Chiriboga

Downpayment Assistance for Teachers, Police Officers, Firefighters, etc

This program provides 30-year fixed rate mortgage loans to eligible homebuyers wishing to achieve the American dream of homeownership. In addition to a low interest rate, these programs offer down payment and closing cost assistance in the form of a grant. These programs are available through a network of participating lenders across the state.
The current maximum interest rate on a 30-year fixed FHA, VA or USDA (RHS) mortgage loan is 5.0 %.  This rate will provide a 5% grant for downpayment and closing costs assistance. 
Under the Homes for Texas Heroes Program, the Texas Legislature defines a “Texas Hero” as one of the following:
Classroom Teacher
Teacher Aide
School Librarian
School Nurse
School Counselor
Nursing and Allied Health Faculty member
EMS Personnel
Peace Officer
Corrections Officer (TDCJ or TJJD)
County Jailer
Public Security Officer 
Additionally, a homebuyer must:
You do not need to be a f. ...

Tuesday, July 14, 2015   /   by George Chiriboga

I Own A Home: Can I Get Downpayment Assistance?

Yes, you can get a 5% downpayment assistance to buy a new home even if you currently own a home provided you are a full time public school teacher, aide, counselor, librarian or nurse; peace officer, firefighter, EMS personnnel, county jailer, or public security officer; collegiate faculty member of a professional nursing or allied health program. The maximum household income is $76,130 for a family of three. This amount will be enough to cover your FHA loan's minimum required downpayment and some closing costs.

These programs are accessible only through approved participant lenders.
If you have more questions, please do not hesitate to Email us or contact us at 713-589-3234 for more information.

Monday, May 4, 2015   /   by George Chiriboga

Buyer's Ten Commandments

Many times a buyer is so excited to start the process of buying a house and forgets to consider that, in order to succesfully close the loan, they need to safeguard their employment and financial background. Everytime we engage a new buyer we advise them to remember these ten commandments:

1.     Thou shalt not change jobs, become self-employed or quit your job.

2.     Thou shalt not buy a car, truck or van!

3.     Thou shalt not use charge cards excessively or let your accounts fall behind.

4.     Thou shalt not spend money you have set aside for closing.

5.     Thou shalt not omit debts or liabilities from your loan application.

6.     Thou shalt not buy furniture.

7.     Thou shalt not originate any inquiries into your credit.

8.     Thou shalt not make large deposits without first checking with your loan officer.

9.     Th. ...

Monday, September 16, 2013   /   by George Chiriboga

Five Secrets To Buying Foreclosures

Probably you have heard about all the buzz about buying foreclosures in Houston but you do not know how to start or what approach to use or perhaps you have already been looking to some properties or even perhaps you have placed an offer on one. Here I will give you five secrets about buying foreclosures in Houston, Texas.

First, you can bid lower than the asking price, and you should start lower. How much lower it depends on the desirability of the property, the days on market, whether or not there are offers already, and, of course, the comparable sales in the area. Your Houston REALTOR® should provide the latter before an offer is placed.

Second, Houston foreclosures advertise that they sell the house AS IS as they do not intend to repair the property. Just think about it, the bank's employee who is managing this asset is sitting somewhere in an office in another state -other than Texas- and the last thing he wants to hear is your request for repairs. He will argue that yo. ...