Texas FHA Loans offer many advantages. An FHA home loan is a government-subsidized loan that is not only popular with first time homebuyers, but with buyers who have already purchased a home before. FHA refinances are also very popular among home-owners who were initially placed in a high interest rate subprime loan. Subprime loans were initially created for home buyers with below than average credit scores, however several borrowers are flocking to FHA to lock in a lower rate.
Texas FHA home loans and refinances are not particularly credit score driven (there is a minimum credit score however) and because of this, it is very attractive for people with not so perfect credit. With a down payment of only 3.5%, it is a great solution for several first time home buyers.
You can also check FHA Mortgage Loan Limits in Houston, Austin, Dallas, San Antonio, El Paso and all of Texas .
Many exciting things are happening with Texas FHA home financing. FHA Modernization is under way and you'll want to stay up-to-date with changes coming up such as down payment requirements, FHA guideline changes, and and large tax credits given to home buyers.
If you are looking for an Austin FHA Lender, Houston FHA Lender, Dallas FHA Lender, or San Antonio FHA Lender, you have come to the right place!
A conventional mortgage loan has a maximum loan amount of $417,000. It is not guaranteed or insured by the federal government and has several down payment options. After a 20% down payment, there is no monthly mortgage insurance premium. On a conventional purchase transaction, the seller is allowed to pay up to 3% of the buyer's costs. After a down payment of 10% or more, the seller can contribute up to 6%.
Conventional loans are very popular with investors that are looking to buy investment properties, as it is uncommon with other financing types. Please contact us to learn more details about this.
We also specialize in servicing first time home buyers utilize their VA benefits each and every day. A Texas VA mortgage offers many advantages, as it is very popular with first time homeowners. Because a VA Loan is guaranteed by the U.S. Federal Government, you should expect lower interest rates and NO down payment in relation to a conventional residential home loan.
We are an Austin VA Lender, Houston VA Lender, Dallas VA Lender, and San Antonio VA Lender- all in one place!
VA is only 1 of only a few options left for true 100% financing and you'll want to stay up-to-date with changes in loan limit increases, and VA Mortgage news.
To find out if you are eligible for a VA Loan, check out the VA Eligibilty Guidelines.
If you need your DD Form 214, make sure to click on the link or you can fill out a Standard Form 180 (SF-180) and get a copy of your Military Records. Additionally, if you do not have your VA Certificate of Eligibility, we would be glad to order it for you or help you any way that we can!
If you are one of those home buyers who does not have the minimum down payment requirement with Conventional and USDA financing, then a USDA home mortgage loan may be for you. USDA home mortgage loans are offered to help lower to moderate income households purchase homes in rural areas and in some cases on the outskirts of a city or in a medium sized town as determined by the United States Department of Agriculture (USDA) with NO DOWNPAYMENT requirement! USDA home loans offer many advantages to qualified borrowers looking to buy or refinance (no cash out) including:
• 100% financing
• No monthly mortgage insurance
• No asset requirements
• Gifts allowed for closing costs
• Required property improvements can be financed into the loan up to 102% of the "improved" value, which can be completed after closing.
Eligible USDA property types include single family homes and condominiums (primary residence only). USDA does have some income and property eligibility requirements. Please contact us to find out these limits in your area of interest or if you have the home address, search what USDA eligible properties in Texas are available!
For the calendar year 2008, a Jumbo loan is a residential mortgage where the amount loaned to purchase or refinance a home exceeds $417,000. Each year the loan limits are adjusted to meet current market conditions. These Jumbo mortgages are also called non-conforming loans because the loan amount exceeds Fannie Mae and Freddie Mac’s underwriting guidelines. The Jumbo loan limit in 2009 is the same as it was in 2008.
It is very important to work with a reputable Austin Jumbo Lender, Houston Jumbo Lender, Dallas Jumbo Lender, or San Antonio Jumbo Lender when choosing this type of financing, as it is very intricate and attention to detail is necessary.
Home Equity loans help our clients save hundreds of dollars each month. We show you how consolidating all of your "bad debt" into a single, tax deductible "good debt" can help you save tons of money when used correctly. Why pay 15 creditors at 15%+ interest when you can leverage your home's equity to work for you and get you out of debt? Not only that, but with a little discipline, we can show you how to apply those savings and pay your home off sooner!
You can also choose to refinance in Texas just to reduce your current interest rate. With interest rates at an all time low, it's a great time to see how much money you could save by either reducing your mortgage rate, or restructuring your current mortgage term so that you can pay it off sooner.
When looking for a Texas Home Equity or Refinance Lender in Austin, Dallas, Houston, or San Antonio , look no further- your search ends here!
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