Learn the Four Things You Should Do Before Buying a New Bentsen Palm Home in the Rio Grande Valley


Buying a new home is exciting, but it’s also important to keep a few things in mind as you embark on making one of the biggest investments of your life. Whether it’s your first home, you’re moving up, or you’re getting ready to retire, doing a little prep work beforehand will help make the homebuying process much easier for you and your family. So, before you head out to locate the perfect new home community in the Rio Grande Valley to build your dream home, here are the top four things the expert developers and builders of the Bentsen Palm community suggest you do in advance.

Review and Strengthen Your Credit – Even if you have great credit, it never hurts to periodically check your credit and ensure everything is in order. You don’t want any surprises when it comes time to pull your credit for seeking a mortgage. For those that may need a little work on their score to ensure a better rate, the earlier you can start improving your credit the better. A few simple rules to follow include:

  •        Paying all bills on time even if it’s just the minimum payment.
  •        Eliminate balances, especially small balances on multiple cards.
  •        Pay off old debt, but leave it on your credit report. Debt that is paid off on time improves your score.
  •        Don’t indicate risky credit behavior like suddenly paying less on a card, missing payments or taking cash advances.


Prepare a New Home Budget You Can Afford – Take a look at your current finances and put together a monthly loan payment budget that you can comfortably afford. If you are currently paying rent, then consider practicing what you’d pay for a house payment by putting an additional dollar amount away each month. You’ll have a better sense of how a larger payment impacts your current monthly budget and save money for your down payment.   

Save Money for a Down Payment and Other Expenses – Depending on the mortgage loan type (conventional, FHA, special programs) you seek, you’ll need to have enough cash on hand for a down payment. The loan type will affect the amount needed for down payment and total cost including interest and mortgage insurance. The typical down payment for a conventional home loan is 20%, which means for a $200,000 home, you’ll need to have a down payment of $40,000. Your down payment should not wipe out your savings though. It’s important to keep a cushion for any additional expenses that arise either for items like moving, new furniture, and any potential unplanned needs.  

Get Pre-Approved for Your Mortgage – With a good credit score, a budget in place and savings for a down payment all in hand, now is a great time to get pre-approved for a mortgage loan. It may seem like putting the cart before the horse to have a mortgage pre-approved before looking at new homes in the Bentsen Palm new home community in the Rio Grande Valley, but having a dollar amount to work with in advance will help you make a better new home buying decision. You’ll be armed with the information you need to select the right design and ample new home square footage for your family that truly fits your budget.

Contact us today to learn more about the Rio Grande Valley’s best master-planned community, Bentsen Palm, and how to get started building your dream home.


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