What’s the Optimal House Down Payment Amount in Killeen?

house down payment killeenIf you’re a home buyer, you may be wondering what the ideal house down payment is. Most people are familiar with the 20% down payment rule, and some lenders or home sellers even require it. 20% can be daunting for many buyers on a tight budget. Is it even  necessary? Learn the pros and cons of a 20% down payment.

Pros of a 20% Down Payment

For starters, you can avoid buying the mandatory private mortgage insurance (PMI) if you put 20% down. This insurance is the lender’s safety net in the event the buyer defaults on the mortgage. In addition, lenders will also view you as less of a risk and lower your interest rate. An interest reduction of just one or two points can save you upwards of thousands of dollars over the life of the mortgage.

Home sellers also typically prefer to negotiate with buyers that can put down a 20% down payment. It’s a good sign that your finances are in good shape. This can really prove advantageous in a seller’s market where the seller tends to have more negotiating power.

Cons of a 20% Down Payment

A large down payment can prove to be financially risky. It may mean less money to invest in an emergency fund. Ask yourself this: if after footing the 20% down payment, will I have enough money for an unforeseen expense, such as a major car repair or plumbing repair? If not,  it might be best to settle for a smaller down payment and have a bit more money in savings.

Consult With Us on Your House Down Payment in Killeen

Your personal financial situation will dictate the optimal house down payment. For guidance on the homebuying process in Killeen, contact All Good Deeds for one-on-one assistance.

House Down Payment Assistance in Killeen

Serving Central Texas including San Antonio, Georgetown, Killeen, Pflugerville, Leander, Cedar Park, Temple, Austin, Round Rock, San Marcos, Bastrop, Buda, New Braunfels & Kyle


Posted on February 25, 2021 | Published by Ignite Local | Related Local Business

What Landlords Need to Know About the Eviction Moratorium in Georgetown

eviction moratorium georgetownIf you’re a landlord, you’re probably aware of the Texas eviction moratorium currently in place. This is intended to allow tenants to remain in their rented units if they’re having financial hardships due to COVID. As a property owner, take time to learn the moratorium laws so you know your rights.

The Texas Eviction Moratorium at a Glance

The Texas Supreme Court passed the Texas Eviction Diversion Program intended to protect tenants who are behind in their rent. The bill was supposed to last until the end of January, 2021. However, an extension was recently granted, making the new deadline March 15 as of the date of this post. This new deadline allows the landlord and tenant to reach a resolution should the latter have difficulty paying their rent.

If an agreement is reached, the state puts a halt to evictions for 60 days, during which the landlord can decide whether to resume eviction proceedings. If the landlord decides not to evict, the state agrees to cover up to five months of past due rent.

The Texas Eviction Diversion Program is currently in place in 30 counties.

Moratorium Guidelines

If you’re a landlord, keep the following eligibility guidelines in mind. Tenants must meet the following requirements to be eligible for the moratorium:

  • The renter’s annual income cannot exceed $99,000, or $198,000 for a joint return.
  • The renter has to demonstrate “best efforts” to make timely payments or partial payments.
  • The renter must demonstrate that, if evicted, they would have no other means of housing and would become homeless or live in a shelter.

Learn More About the Texas Eviction Moratorium in Georgetown

Whether you’re a home buyer or a seller, contact us today for consultation with a real estate pro. If you’re a landlord, All Good Deeds Homes can help you navigate the complex eviction moratorium laws and understand your risks and options.

Assistance with Eviction Moratorium Laws in Georgetown

Serving Central Texas including San Antonio, Georgetown, Killeen, Pflugerville, Leander, Cedar Park, Temple, Austin, Round Rock, San Marcos, Bastrop, Buda, New Braunfels & Kyle


Posted on January 25, 2021 | Published by Ignite Local | Related Local Business

What San Antonio Homeowners Need to Know About the COVID Foreclosure Moratorium

foreclosure moratorium san antonioAre you a San Antonio homeowner having difficulty keeping up with your mortgage payments? You may be familiar with the COVID foreclosure moratorium passed into law in response to the pandemic. Is this a fail-proof safeguard against foreclosure by your lending institution?

The COVID Foreclosure Moratorium at a Glance

Earlier in 2020, Governor Greg Abbott passed Executive Order 29, which prohibited the close congregation of groups of 10 or more people. The order doesn’t explicitly make any mention of foreclosure moratoriums. That has been largely left to the individual county and city-level governments. The order, though, does impact foreclosure; sales of foreclosed property often include live viewing and auction gatherings.

Travis and Harris County have ordered a halt to all foreclosure sales, effective July, 2020. Other counties, like El Paso, Collin, and Hidalgo, have not made any official statements on their stance regarding foreclosures. Foreclosure listings, though, remain posted.

What Does This Mean for Homeowners?

Due to the wishy-washy stances between local governments, it’s important that homeowners get in touch with a real estate expert. This also applies to home buyers who may be searching foreclosure listings. Depending on the county of your residence, there may or may not be a moratorium in place protecting your home from foreclosure.

A Note About Fannie Mae and Freddie Mac

If your mortgage is backed by Fannie Mae and Freddie Mac, there is a federally-backed moratorium in effect until January 31, 2021. This is actually the fourth time the Federal Housing Finance Agency has extended the deadline. Don’t be surprised if the date is extended even further.

Keep in mind, though, that there are restrictions. For example, the moratorium only applies to single-family and enterprise-backed mortgages. And, it is important to note that the moratorium does not apply to properties determined to be vacant or abandoned.

Need Assistance to Stop Foreclosure in San Antonio?

There are a lot of legal complexities for home sellers and buyers due to the pandemic. Contact us at All Good Deeds Homes to learn more about the COVID foreclosure moratorium during these trying times.

COVID Foreclosure Moratorium Information in San Antonio

Serving Central Texas including San Antonio, Georgetown, Killeen, Pflugerville, Leander, Cedar Park, Temple, Austin, Round Rock, San Marcos, Bastrop, Buda, New Braunfels & Kyle


Posted on December 28, 2020 | Published by Ignite Local | Related Local Business

Finding Unique Real Estate Opportunities in Central Texas

Finding Special Circumstances Real Estate Services in Central TexasWhether you’re experiencing challenges buying a home or selling a property in Central Texas, finding real estate services to help with unique circumstances can be a challenge. You need a real estate professional who truly understands the real estate challenges some people experience, and who has an extensive network of private investors and special challenges realtors in the region who can help. This is especially true if you want to close quickly, but locating the right individual or company can be tricky. Don’t let the process overwhelm you. The following tips can help ensure you find the best professional available to achieve your unique goals.

1. Ask for Recommendations

The process of finding special interest real estate services can start very informally by asking people you know for recommendations of real estate professionals they know of or have successfully worked with. Mention your real estate help needs to family members, friends, neighbors and trusted coworkers, and it’s likely someone you know will be able to point you in the right direction.

2. Research the Options

Finding real estate services to help you navigate unique challenges should include more than acquiring a few referrals, though. Spend some time researching each recommendation before making your final selection. Read through information provided on company websites, and/or consider scheduling a consultation with one or more of the real estate professionals recommended.

3. Consider Client Feedback

Many clients leave feedback on Internet review sites after working with a real estate professional. Pay close attention to the information provided, as this can help you know what to expect. It may also be worth requesting a list of referrals from the real estate professional you’re considering using, and calling those people to ask about their experience.

Trouble Finding the Right Real Estate Services in Central Texas?

If you need help finding the right kind of real estate services in Central Texas, call the professionals at All Good Deeds Homes. Whatever your financial situation, we have the knowledge, experience, resources and and connections to help you achieve your real estate goals.

Finding the Right Real Estate Services in Central Texas Just Got Easier!

Serving Central Texas including San Antonia, Austin, Georgetown, Killeen, Temple, Cedar Park, Round Rock, San Marcos, New Braundfels, Leander, Bastrop, Buda, Kyle & Pflugerville