Good news! Our old friend Freddy Duarte from Prodigy Mortgage is back today to tell us about a new 1% down payment conventional loan program his company is offering. Prodigy Mortgage works with 12 different banks, and one of them has been chosen to do a pilot program that allows for a 1% down payment. Technically it’s a 3% down payment program, but the bank actually covers 2%, so you only have to cover the remaining 1%. To put that into perspective, if you’re buying a $200,000 home, then $2,000 would be your minimum, out-of-pocket down payment. In order to qualify for this loan, you must have a credit score of at least 700. It also has debt-to-income ratio limits that are lower than a typical FHA loan. That 1% of this down payment can also be covered as a gift from a family member. If you’re gainfully employed and have the right credit score, but still can’t afford the down payment, then mom or dad can simply gift you the money. “ If you can’t afford the 1%, have mom gift it to you for Christmas. ” There are no geographic restrictions with this program, but there are income restrictions in certain areas. In Williamson County and Travis County, for instance, the income limit is $77,800. However, there are also many areas around Austin and Round Rock where this restriction doesn’t apply. In these pockets, if you make $150,000 a year and are looking to buy a $400,000 house, you can absolutely put 1% down on a conventional loan. If you don’t want mortgage insurance, this program also offers another conventional loan option for you. If you have any questions about home financing or real estate in general, please don’t hesitate to reach out to me. Just give me a call or send me an email, and I’d be happy to help you.

We’re downtown looking at condos along the Rainey Street building from the pool deck on the sixth floor. As you can see in the video above, it’s a great view where you can see the lake and the cityscape all from one place. There are a lot of amenities that you would expect to get from a downtown condo which really allow you to enjoy the outdoor space while you’re living in a smaller unit. On the seventh floor, we’re looking at a unit that’s a little more affordable, around $300,000. From here, you can see Rainey Street, where you have a lot of bars and restaurants, making for a very walkable area. “ You have all the amenities nearby. ” What’s it like living in 600 square feet? I have a lot of clients that really love this kind of lifestyle. The living space may be a bit tight, but you generally have storage space, a parking spot, and a walkable neighborhood. This unit I’m in, for example, also has the 250 square foot patio to make a smaller space feel that much bigger. Additionally, some people buy these units to have a place to live during festivals, or just spend time in the downtown Austin area. If you have questions or need real estate help, or you’re curious about living in downtown Austin, give me a call. I’m always happy to help!

Want to sell your home? Get a FREE home value report. Want to buy a home? Search all homes for sale. We’re back over here on Lone Star Boulevard to check the progress of one of our houses in getting it ready to be listed. What did we do to get this house ready for the market? Starting in the kitchen, we put a fresh coat of paint over the cabinets and replaced the dishwasher. These upgrades can brighten up a room and make it seem more open, which makes a huge difference in the prospective buyers’ eyes. In the living room, we replaced the old fixtures with new ones, tore down the wallpaper, and removed the curtains to allow in more natural light. Updating fixtures and other neutral aspects of the house to fit more buyers’ tastes will make it sell faster. “ Updating fixtures and other neutral aspects can make a house sell faster ” In the bathroom, we installed some additional lighting, put extra trim on the bottom of the mirror, and retiled the shower. It doesn’t look like we did much, but even the slightest upgrades can make a profound impact. In one of the bedrooms, we redid the wiring inside the ceiling and put in a nicer fixture. It’s never a bad idea to examine the wiring of a house in how it can improve the overall layout. This house is ready to go on the market. If you have any questions about it, or about real estate in general, don’t hesitate to give me a call or shoot me an email. For a full tour of the house, check out this link here.

Want to sell your home? Get a FREE home value report. Want to buy a home? Search all homes for sale. If you’re a homeowner in Austin, you’ve probably recently received a notice in the mail from your county tax assessor. This notice contains your property tax rates for the coming year, and they’ve likely gone up. You should protest these property taxes. I always recommend that my clients do so, even if they think they’re being taxed at the proper rate. We’ve seen some pretty crazy numbers lately, even on properties that are on the market at a certain price but are being taxed at a much higher rate. If your home is on the market and hasn’t sold yet at that price, the county assessor has it wrong.   “ You’ve got nothing to lose by protesting. ”  It’s really easy to protest your property taxes. In Williamson County, you can even do it online. It’s a pretty simple process. You go in there, click the link to protest, put your information in from the notice you received, and request a protest. The process is pretty streamlined, and should give you an immediate number. Most of the time it will be lower. Please note that the final day to protest is May 31st.   You’ve got nothing to lose by protesting. We see homes all the time that are valued significantly higher or lower than their neighbor’s simply because one property owner decided to protest and the other did not. You should always protest your property taxes, no matter what. It’s a simple thing to do, and can save you a lot of money throughout the years. If you have any questions for me, don’t hesitate to reach out via phone or email. I’d love to hear from you!