Gray Point Homes Blog

Tax Benefits of Buying a Home

Tax Benefits
There can be many tax deductions for purchasing properties. Deductions reduce your taxable income and thus result in lower taxes owed. It is useful to learn the tax benefits before buying a property or when considering renting versus buying. This article provides an overview of tax deductions for purchasing properties in Texas. Always check with a Tax Professional for the most up-to-date advice.

Energy Efficient Home Building

Home Energy Saving Tips
When building a new home, there are several features that come standard that can significantly reduce energy consumption and lower expenses over time. People normally refer to appliances when evaluating energy efficiency, but there are many building materials that involve energy utilization. The following are some Texas new home energy saving ideas to consider.

Helpful Real Estate Terminology

Real Estate Terminology
The home purchasing and selling steps are elaborate enough to begin with. Real estate terminology can complicate it further, particularly if you are a first time buyer. Below you will find definitions on popular real estate terminology in Texas. This may help you better comprehend the buying and selling process.

Buying a New Home – How Much Should You Spend?

How Much Can I Afford
The maximum amount you can spend on your new home loan can easily be determined by a mortgage lender. How much you should spend is more personal and depends on your new home needs, budget and financial goals.

Interest Rate Changes

Interest Rate Ratios
When you are pre-approved for a home loan, it is based on a certain recurring payment. The mortgage rate is assumed (in addition to other figures such as property taxes and property insurance). Mortgage rate fluctuations affect mortgage pre-approvals since it impacts the principal and interest component of the monthly payment. It is useful for home buyers to understand this because a fluctuation in rates can impact purchase price limits.

Pre-Paid Expenses

Pre-Paid Expenses
Closing costs typically include charges required by lenders and other parties. Pre-paid costs and escrows are also included in settlement statements and are frequently referred to as closing costs, but are actually a separate category. Information on pre-paid expenses and escrows for Gray Point Homes closings is provided in this article.

Monthly Mortgage Payments

Monthly Mortgage Payments
It is useful to find out what is included in your Gray Point Homes monthly home loan payments for budgeting purposes. The acronym PITI is commonly used to remember the items, which are principal, interest, taxes, and insurance. All mortgages do not automatically include each of these. It will vary based on your specific loan.

Information on Income To Debt Ratio For Gray Point Homes Mortgage Pre-approvals

Income and Debt Ratios
Personal finances play a large role in home loan pre-approvals. All lenders evaluate your assets, earnings, credit score and existing debts. These determine whether you qualify for a mortgage and for what amount. Below is information on income to debt ratio for Texas mortgage pre-approvals. It is especially helpful to use Gray Point Homes preferred lender. Their team of mortgage professionals will guide you through every step of the mortgage process.

Mortgage Steps for Buying Your New Gray Point Home

Mortgage Steps for Buying your New Gray Point Home
There are several major distinct steps in the real estate purchase process, and several relate to the mortgage. It may be confusing for both first time and repeat home buyers. This blog offers important information on mortgage steps for buying your new Gray Point Home and covers what you may want to know prior to starting the process.

Texas Home Buyer Relocation Advice

Texas Relocation Advice
Moving to a new community can be stressful. There are several factors to take into account including rating of local schools, local amenities, crime levels, tax rates and commuting to employment. The following is some useful advice when relocating to a new Gray Point Home.

Home Energy Saving Tips

Home Energy Saving Tips
Minimizing energy usage in your new Gray Point Home is not only good for the environment but will also reduce your expenses. There are things that you can do all year long. Below you will find ways to reduce energy use in your new home.

Home Buying Credit Improvement Tips

Home Buying Credit Tip Improvements
There are different things that you may do to get ready for the home loan process. An especially crucial one is to look through your credit scores ahead of time as it affects your mortgage alternatives and interest rate. Below are home buying credit improvement tips you should consider when buying your new Gray Point Home.

Brr…Preparing Your Home for Winter

Prepping for Winter
Prepping your home for winter will make your home more energy efficient and prevent issues. Take some time to make sure your home is winter-ready and then enjoy the season in your cozy new home!

Mortgage Rates Fall to Lowest of 2017

Mortgage Rates Fall
The average 30-year loan rate has dropped below 4%. Rates have dropped to their lowest level of the year, according to Bankrate.com's weekly national survey, released 8/31/17.

Design Tips to Build the Perfect Home

Design Tips
To create a home that reflects your sense of individuality and fits your family's lifestyle, browse through magazines, peruse the internet or visit Gray Point Homes models and gather pictures of rooms that appeal to you. Answer the following questions to design your dream home:

Renting vs. Buying – 2017 Most Expensive Zip Codes in Texas

Is your zip code on the list? Buying a home of your own is a great choice, as rents continue to increase across the country. The interactive table below allows you to take a detailed look at Texas’ top 50 most expensive zip codes for renters. Use the search box or click on the header of each column to sort results according to your preferences. Thanks to RENTCafé for the information!