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Tips to Buy a House in 2025

June 20, 2025

Strong demand for new homes in Frisco TX is good news for home buyers. The city is still growing, so prices will continue to increase over time. If you buy now, you can take advantage of future growth in your home’s value.

Buying a home is a good investment, but you’ll want to make sure you’re financially ready. The number one question, of course, is “How much house can you afford?”

These are the major factors that will help determine the mortgage amount and interest rate you can get:

• Your credit score. For a conventional mortgage you’ll need a score of at least 620 to qualify. If yours is below that, spend a few months or more paying off debt, making sure all your bills are paid on time, and increasing your income.
• Your income. The general guideline is for your mortgage payment to be 28% or less of your monthly net income. Lenders also want to see job stability, so try to stay in the same job for at least two years before applying for a mortgage.
• Your down payment. The more you pay upfront, the smaller your mortgage can be. Putting at least 20% down also helps you avoid the cost of PMI (private mortgage insurance).

Additional tips

• It’s a good idea to have an emergency fund of 3-6 months’ expenses before you buy a house. An emergency fund is an important safety net to help you pay your mortgage in case of job loss, illness or other unforeseen circumstances.
• Set aside 2-5% of the home’s value for closing costs.
• Get preapproved for a mortgage before you begin shopping for homes. The lender will provide you with a letter stating how much money they’re willing to loan you. Their offer is usually valid for 90 days. That gives you 3 months to shop for a home with confidence.

Find your new home this summer in Lexington Frisco! Lifestyle Homes builds luxurious new homes in the Lexington Legacy 55s and Heritage 64s series. For a tour call New Home Sales Managers Cristy Simpson at 469-774-2340 or Diana Fashakin at 214-282-5746. We can’t wait to show you around the Lexington community of new homes in Frisco TX!

This post was written by Lifestyle Homes.