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Down Payment Assistance for First Time Home Buyers

woman calculating a down payment in front of a model homeBecoming a first time home buyer is probably one of the most nerve wrecking stages in life. There are so many outcomes that hinge on this one decision. Not only that, the questions are endless. Where should I apply for a loan? What should I be looking for? How do I know how much I can afford for a mortgage? At El Paso Homes Realty we take great pride in helping all of our clients find their dream home. One of the first things we do is find out if our client qualify for down payment assistance.

What is Down Payment Assistance?

Many of our clients are not familiar with Down payment assistance. Many of these same clients actually qualify and don’t even realize that. Down payment assistance is offered by many government agencies to help family better afford home ownership. This help comes in the form of grants and other forms of monetary assistance.

How Does Down Payment Assistance Help First Time Home Buyers?

The basic rule of thumb says that first time home buyers should put down at least 20 percent at the closing of their first home. Many people might be discouraged from even thinking about home ownership due to this simple fact. They don’t have the means to make this kind of savings and decide to continue renting instead of planning on buying a house.

However, several nonprofit and government agencies make it possible for first time homeowners to find the right property for their family.

Agencies in Texas That Offer Assistance

The Texas State Affordable Housing Corporation – This is a nonprofit organization that offers assistance. They even have mortgage credit certificates for teachers, veterans, firefighters, police officers, EMS workers, and corrections officers. They offer help to low and moderate income households as well.

Texas Department of Housing and Community Affairs – This agency offers assistance and advising to low to moderate income households buying a home for the first time. Certain requirements are waived for veterans as well.

Federal Housing Administration – This is a branch of the U.S. Department of Housing and Urban Development. There is a program available that provides loans and streamlines the process for families that normally might not have the opportunity to buy a home.

Contact Us Today

If you are a first time home buyer interested in down payment assistance contact us today. We are more than happy to help our clients take the steps necessary to find their dream home.

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How a Property Management Company Revolutionizes Owning Rental Homes

Symbol of the house with silver key on wooden backgroundIf you own and rent out property, you know how crazy it can be. From finding tenants and marketing your property to staying on track with maintenance and repairs, you’ve definitely got your hands full. Back in the olden days, property owners went in it alone, which created a great divide between property owners and tenants. Does the term slumlord ring a bell? Slumlords were known for not maintaining their properties, overcharging tenants, and–quite frankly–being downright mean. While there are still “slumlords” these days, the rise of property management companies has helped to decrease the number.

Property management companies can help you with a number of things if you’re planning to rent out your home. This can be a good idea if you’re trying to sell your home but nothing’s sticking. Here’s how a property management company can help you be a successful rental property owner.

Tenant Screenings

Finding the right tenants for your rental property can be a hassle. You’ll want to check their credit history and perform background checks to ensure they are fit for the neighborhood. An example of them potentially not being a good fit for the neighborhood is if they’re a registered sex offender. This may bring the neighborhood market down and offend neighbors. Most importantly, though, you want to find tenants who are the perfect match for your rental home. A property management company can help you do just that.


A lot of people think putting a for sale sign up in their front yard is enough to market their home. In reality, there’s so much more to it, including using real estate websites, social media, creating videos, and all that good stuff. Plus, you’ll need to set aside time for showings and networking. All of this can really be time-consuming, which is where a property management company comes in. They can handle all of this for you, so it’s one less thing to worry about.

Maintenance and Repairs

Lastly, once your tenants move in, you’ll want to be sure you stay on top of their maintenance and repairs. When you work with a property management company, you’ll gain access to a whole network of plumbers, roofers, HVAC technicians, and more, so you can rest assured knowing your rental home is properly taken care of for both you and your tenants.

Call El Paso Homes Realty Today!

If you need help renting out your home, El Paso Homes Realty has you covered. Call us today to learn more about our services.

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Switching Gears During a Buyer’s Market

hand holding a small model home while other holds out keysIf you have a home on the market you already know how long it can take to sell a home. There are many factors that go into how fast a home sells. The market temperature is definitely a huge factor. If you are having a hard time selling your home with your real estate agency it may be time to switch gears. At El Paso Homes Realty, we have a solution for the frustration you may feel.

Selling a Home During a Buyer’s Market

One of the most frustrating home selling situations you can deal with is selling a home during a buyer’s market. While it may not be impossible, it certainly is more difficult. A buyer’s market is distinguished by more homes on the market than buyers. Potential homeowners have a larger selection and a greater ability to negotiate price. A big mistake that a home seller or real estate agency end up making is overpricing a home during these market circumstances. A good agent will advise an accurate price for the home based on the home itself as well as other homes in the neighborhood. But, sometimes sellers will insist on the price they want not realizing they are only prolonging the sale. Often times they want to make back the money the poured into the home for upgrades or repairs.

There is a Better Way

First and foremost, it is never good to go against the advice of your real estate agency. If you are not in agreement with the listing price do not jump to conclusions. It is important to understand that there is expertise and knowledge that goes into listing the right price. Secondly, if your home has been sitting on the market for several months or even longer, it might be time to change strategies.

Instead of selling, renting the home out to tenants might be an excellent idea. The home can pay for itself while you pay a small percentage to a real estate agency or property manager. In the long run you will end up on top. You could possible have two homes paid off later on down the road. Another option is renting the home until the market changes pace. This is a great idea because your home will be paying for itself instead of using more incoming and waiting for the return.

Contact our Real Estate Agency Today

We take great pride in providing our clients with the solutions they are looking for. If you are trying to sell your home to no avail we can help. Whether you need help with the sale or want to switch gears to renting we have the expertise to get it done. Contact us today.

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