Austin Homebuyer Downpayment Assistance Program

Hello Austinites!

Have you been pondering the idea of purchasing a home in Austin? Aside from the numerous benefits of homeownership like; tax benefits, appreciation, equity, savings, predictability, freedom, and stability. Wouldn’t it also be awesome if you did not have to come up with the required funds for a down-payment? I have observed that oftentimes buyers can get approved for a home mortgage loan, but find coming up with a large downpayment to be prohibiting.

Luckily, there can be a way around paying for a down-payment. The city of Austin has a Homebuyer Down Payment Assistance Program!

The down payment assistance program can cover:

• Down payment and closing costs, and pre-paid expenses associated with buying a home• Dollar amount is based on financial need

• Homebuyers may qualify for up to $40,000 in assistance

• Standard DPA: Up to $14,999 in a forgivable, 0% interest loan

• Shared Equity DPA: Up to $40,000 in a forgivable, 0% interest loan with shared equity

• Sales and/or appraisal price of the home cannot exceed $280,000

To be eligible you must:

• Have not owned a home in the last three years, or I have been displaced or divorced

• Buying a single-family home or condominium identifiable via the Austin Jurisdictions Web Map

• Completed HousingSmarts or other comparable homebuyer education class

• Is approved for a mortgage loan from a participating lender

• Household income is 80 percent or less than the Austin area median family income (MFI)

If the DPA Program looks like something you might qualify for, I recommend reviewing the DPA program details in-depth on the City of Austin website. If you think you might qualify after an initial review of the information, I recommend reaching out to one of the participating lenders and having them discuss your mortgage options. You should leave this meeting with a pretty good idea of how much you can borrow for a mortgage, and how much assistance you can expect.

With your buying power established, that is the ideal time to meet with a REALTOR®. It is the ideal time because the budget usually plays a large factor in deciding to purchase a home. With a budget set, we can complete a homebuyers questionnaire together too narrow down what you are looking for. Perhaps a house in the suburbs with no homeowners association? Perhaps a condo in downtown that has a high walkability rating. Perhaps a townhome that has an attached garage and a great community pool?

If you are interested in purchasing a property in the UT Campus or Austin area, please reach out. I can provide access to tools and resources to help you view data and properties for sale. Feel free to complete a Buyer’s Questionnaire and I will reach out ASAP!

Thank you for your time,

Realtor Tineo,

6 Reasons To Work With a REALTOR®: Austin Real Estate and UT Housing

Hello Austinites!

Wondering why you should work with me as your REALTOR®? For starters, a REALTOR® is not just an agent who opens a door for you; I can save you real money and make sure contracts serve your best interest! I am a professional member of the National Association of REALTORS®, Texas Association of REALTORS®, Texas Real Estate Commission, and the Austin Board of REALTORS®. Through these governing bodies, I subscribe to a strict code of ethics, maintain licensure, and strive for a fiduciary relationship intent on helping you maximize savings.

This is the REALTOR® difference for home buyers and sellers:

1. Ethical treatment. As a licensed REALTOR®, I must adhere to a strict code of ethics, which is based on professionalism and protection of the public. Additionally, I am required to obtain continuing real estate education as part of my licensure. As my client, you can expect honest and ethical treatment in all transaction-related matters. My first obligation is to you, the client.

2. An expert guide. Buying a home usually requires numerous forms, reports and disclosures. On top of that, you can expect to deal with numerous parties vital to a transaction; like a Mortgage Loan Officer, Inspector, Appraiser, and Title Company. As an Austin & UT Campus expert, I will help you prepare the best deal, and avoid delays or costly mistakes. Also, there’s a lot of jargon involved, working with a professional who knows the language can help.

3. Objective information and opinions. I can research local information on zoning, utilities, homeowner associations, schools, taxes, insurance, and more. I also have objective data about each property and can use that data to help you determine if the property fits your criteria. By understanding both your needs and search criteria, I can also suggest neighborhoods you don’t know much about, but that might suit your needs.

4. Expanded search power. The Austin MLS will be a powerful tool for us, but sometimes properties are available which are not actively advertised. As your REALTOR®, I can help you find opportunities within my network not listed on home search sites. Additionally, I can help you avoid out-of-date listings that might be showing up as available online but are no longer on the market.

5. Negotiation knowledge. There are many factors up for discussion in a purchase or listing agreement. As your REALTOR®, I will look at every angle from your perspective, beginning with formulating a purchase or listing agreement that serves your best interest.

6. Up-to-date experience. Most people only buy and sell a few homes in their lifetime, usually with quite a few years in between each deal. Even if you’ve done it before, laws and regulations change. As a REALTOR®, I handle numerous transactions over the course of a year and can make sure we have the most up-to-date information possible.

If you are interested in purchasing or listing a property in the UT Campus or Austin area, please reach out. I can provide access to tools and resources to help you view data and properties for sale or rent. Feel free to complete a Listing Questionnaire, Buyer’s Questionnaire, or Renter’s Questionnaire, and I will reach out ASAP!

Thank you for your time,

Realtor Tineo,

7 Reasons To Own A Home: UT Housing and Austin Real Estate

Hello Austinites!

Tired of renting property, putting money into the pockets of a landlord or property manager? Check out these 7 benefits to ownership and start investing in yourself.

1. Tax benefits.
   The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, and some of the costs involved in buying a home.

2. Appreciation.
   Historically, real estate has had a long-term, stable growth in value. In fact, median single-family existing- home sale prices have increased on average 5.2 percent each year from 1972 through 2014, according to the National Association of REALTORS®. The recent housing crisis has caused some to question the long-term value of real estate, but even in the most recent 10 years, which included quite a few very bad years for housing, values are still up 7.0 percent on a cumulative basis. In addition, the number of U.S. households is expected to rise 10 to15 percent over the next decade, creating continued high demand for housing.

3. Equity.
   Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.

4. Savings.
   Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.

5. Predictability.
   Unlike rent, your fixed-rate mortgage payments don’t rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will likely increase.

6. Freedom.
   The home is yours. You can decorate any way you want and choose the types of upgrades and new amenities that appeal to your lifestyle.

7. Stability.
   Remaining in one neighborhood for several years allows you and your family time to build long-lasting relationships within the community. It also offers children the benefit of educational and social continuity.

If you are interested in purchasing property in the UT Campus area, or Austin area, in general, please reach out. I can provide access to tools and resources to help you view data and properties for sale or rent in the campus area. Additionally, feel free to complete a Buyer’s Questionnaire or Renter’s Questionnaire and I will reach out ASAP!

Thank you for your time,

Realtor Tineo,

Doing My Part, To Keep Austin Weird

Hello Austinites!

Did you know that “Keep Austin Weird “ is the slogan adopted by the Austin Independent Business Alliance to promote small and local businesses in Austin, Texas?

I must admit that I had heard the slogan in conversation or saw it on TV or Instagram or read it in an advertisement. But, it never really seeped into my awareness that I was embodying the slogan in my pursuit of being a successful REALTOR® and small business owner in Austin, Texas. For me, I have been practicing Real Estate for almost 2 years, and have very much enjoyed my time helping Austinites find secure housing.

With that said, what exactly does it mean to “Keep Austin Weird”? I estimate that for any small business, just taking the leap by being a small business owner means you are doing your part to Keep Austin Weird. If you do not personally own a small business, you can “Keep Austin Weird” by supporting small or local businesses.

If you are interested in purchasing or listing a property in the UT Campus or Austin area, please reach out. I can provide access to tools and resources to help you view data and properties for sale or rent. Feel free to complete a Listing Questionnaire, Buyer’s Questionnaire, or Renter’s Questionnaire, and I will reach out ASAP!

Thank you for your time,

Realtor Tineo,