Looks like Fort Worth residents in the market for their first home have chosen the right time to buy. The city has been named one of the best for first-timers.
A new report from SmartAsset ranks Fort Worth 11th among the best cities for first-time homebuyers in 2018, just narrowly missing the top 10. (The 10th spot is taken by Dallas.)
The finance company looked at seven factors to determine where first-time homebuyers should put down roots: number of HUD-approved lenders, loan funding ratio, average price per square foot, affordability ratio, stability score, price variance, and number of negative quarters from 2012-2017.
With 56 HUD-approved mortgage lenders, Fort Worth buyers should have little trouble shopping for a mortgage. Fort Worth also boasts a price per square foot of only $94.42 and a loan approval rate of 71 percent.
Nearby Arlington comes in at a respectable No. 14 on the list. It also enjoys a loan approval rate of 71 percent, and the price per square foot is $102.83.
Texas is home to three of SmartAsset's 10 best markets for first-time buyers, with Houston at No. 4, San Antonio at No. 7, and Dallas at No. 10. H-Town boasts the highest number of HUD-approved lenders, while the Alamo City is celebrated for its affordability and Dallas is deemed a safe place to invest.
Three other Texas cities appear on the finance site's full list of 25: Corpus Christi (16), El Paso (20), and Austin (24).