Your Road to Homeownership
Thanks for walking the road with us. Here's everything from today in one place: what each stop means for you, a checklist to start getting ready, and the down payment basics.
Because there's no place like home.
Who does what on the road
Buying a home takes a small team. Here's what each stop you visited today does, and what you can do right now to be ready for them.
Know your buying power
A pre-approval tells you exactly what you can borrow, so you shop in the right price range and sellers take your offer seriously.
- See what your monthly payment could look like in your price range.
- Find out how much you really need down. It may be a lot less than 20%.
- Learn about down payment assistance and first-time buyer programs you may qualify for.
- Gather your documents (see the checklist below).
Plan the trip
Before you tour a single house, we sit down for a Buyer Strategy Session to map out what you need, what you'd love, and where you want to be. From there, I'm with you at every step until you have the keys.
- Get every step explained in plain language, from your first showing to the closing table.
- Have me negotiate for you based on what you need, like asking the seller to help with closing costs so more of your savings can go toward your down payment.
- Write a needs vs. wants list: beds, baths, yard, garage, commute, area.
- Set up MLS property alerts so new listings hit your inbox in real time.
Explore building new
New construction can mean modern systems, builder warranties, and choosing your own finishes.
- Ask what's standard and what's an upgrade, and what the build timeline looks like.
- Ask about the builder's warranty and any incentives toward closing costs.
Tip: Many builders ask that your agent be with you or registered on your first visit. Loop Morgan in before you tour a model home so you keep your representation at no extra cost to you.
Clear the way to closing
Title searches public records for liens or ownership claims, issues title insurance, holds funds in escrow, and runs your closing.
- Your earnest money and option fee go to title by check or wire, never cash.
- Bring a photo ID and your closing funds on closing day.
Protect yourself from wire fraud: before you send any wire, call the title company at a number you already know and confirm the instructions by phone. Never trust wiring details sent by email alone.
Your prep checklist
Check things off as you go. Your progress saves on this device, so you can come back to it.
You may need less than you think
Twenty percent down is not a requirement. These are the most common loan types and their typical minimum down payments.
Conventional
The most common loan. Under 20% down adds monthly private mortgage insurance (PMI).
FHA
Federally insured, with more flexible credit requirements. Mortgage insurance applies.
VA
For eligible veterans, service members, and National Guard members. Some extra fees apply.
USDA
For eligible rural and small-town areas, with income limits. Ask your lender to check an address.
Down payment help in Texas
Statewide programs through the Texas State Affordable Housing Corporation (TSAHC) and the Texas Department of Housing and Community Affairs (TDHCA) can help eligible buyers with down payment and closing costs. Ask Prosperity Bank which ones you may qualify for.
Loan terms and program rules change and depend on your situation. Your lender can confirm current options.
Book your Buyer Strategy Session
No pressure and no cost. Just a conversation about where you want to go and the best road to get there. Call or text anytime.