Melissa's Home Journal

  Thinking About Using Your 401(k) to Buy a Home? Read This First If buying a home is on your mind, you may have seen some recent conversations about using money from your 401(k) to help with the down payment. And I understand why it can sound tempting. When home prices, interest rates, and everyday expenses are already stretching the budget, looking at money you’ve worked hard to save and thinking, “Could this help me buy a home sooner?” is a pretty natural question. But before you make that move, there are a few things worth considering. Your 401(k) Is an Option — But It May Not Be Your Best First Option For many people, a 401(k) represents years of saving and investing for retirement. Depending on your plan and circumstances, you may be able to borrow from or withdraw money from those funds to purchase a home. But just because you can doesn’t necessarily mean you should . Taking money from your retirement account can have consequences, including possible taxes or penalties, de...

Looking to buy a home in Johnson or Tarrant County but need help with the down payment? Check out these Texas programs that offer grants, forgivable loans, and tax credits to make homeownership more affordable. Buying a home is exciting—but let’s be real, that down payment can feel like a mountain. The good news? If you’re looking to buy in Johnson or Tarrant County , there are plenty of programs that can help bridge the gap and get you into your new home faster. Let’s break down a few of the most popular options right here in North Texas   1. Texas State Affordable Housing Corporation (TSAHC) Website: TSAHC.org The TSAHC program is one of the most popular options across the state. It offers: Down payment and closing cost assistance (up to 5% of your loan amount) Available as a grant (you don’t pay it back) or a forgivable second lien Open to first-time buyers, teachers, healthcare workers, firefighters, law enforcement, and veterans They even offer a Mort...

                                                                        Image courtesy Freepik 🏡 First-Time Homebuyer? Start Here! 4 Key Tips for a Successful Purchase Buying your first home is one of the most exciting—and overwhelming—experiences you'll ever have. With so many decisions to make and steps to take, it’s easy to get lost in the process. But don’t worry—we've got your back! Here are four smart tips to help guide you through your first home purchase with confidence: 1. Get Pre-Qualified First Before you scroll Zillow for hours or fall in love with that dreamy front porch, get pre-qualified with a lender . This step gives you a clear picture of what you can afford and shows sellers you’re a serious buyer. It also helps you avoid the heartache of finding the ...

  Buying Your First House? Here Are 25 Questions to Keep in Mind Are you a  first-time home buyer ? Before you settle on a house, asking yourself, your lender, and your real estate agent some key questions can help you prepare for a seamless home buying process. Check out these important questions to ask when buying a house! What Are My Future Goals? Whether you’re in the market for a starter home you plan to stay in for five years or the forever home you want to retire in, you should consider your goals when looking for homes. Take some time to think about your future.  Also, give thought to your financial goals because buying a home is a big investment. What Are My Must-Haves? It’s smart to make a list of  home features  that are important to you before you start your house search. That way, you know which features to look for as you start touring houses and working with your real estate agent. Your must-haves can be things like a fenced yard, short commute, o...