Texas Home Loan Types
Our Popular Home Loans in Texas
Home is a dream of a person. That the dream, shows the number of efforts, sacrifices, luxuries, and above all gathering funds by little to afford one’s dream. Home is one of best the things that everyone wants to own. Home is a shelter to a person where he takes rests and feels comfortable and secure.
A new home brings with it new hopes, joys, and new dreams. At Mortgage Loan Tx, we have shared new hopes, joys, and emotions with our customers. Our home loan product is customized to provide solutions with flexible options, guidance, and helping one to fulfill the housing needs.
The first step is to apply online, call or mailing and visit with a Mortgage Loan Tx home loan expert.
We will take you through all the options, discuss rates and loan types and help customize a loan just for your specific lending needs. What to expect when applying for your home loan.
During your free consultation, a loan officer will describe:
Review your scenario and the best loan options will be provided
Appropriate review of available rates and fees
Calculate your specific borrowings & repayments
All the fees, charges, and general procedures of your scheme will be explained
How you will find a way to save money
Help determine if refinancing is right for you
Provide a no-cost loan estimate
Read more about the Texas Home Loan Process
Fixed-Rate Mortgage Loans
The first step is to apply online, call or mailing and visit with a Mortgage Loan Tx home loan expert.
We will take you through all the options, discuss rates and loan types and help customize a loan just for your specific lending needs. What to expect when applying for your home loan.
Adjustable-Rate Mortgage Loans
Adjustable-Rate Loans are a great fit for homebuyers who plan to sell or refinance their home between 5 and 10 years and are looking for the lowest possible mortgage rate available. Adjustable-rate mortgages are fixed for periods of five to ten years. Adjustable Rate Mortgages (ARMs) are fixed for the initial period and adjust depending on the index that the mortgage is tied to. The new rate at the adjustment period is determined by the index and a fixed margin. That was established at the beginning of the mortgage loan. Call today for a quick consult on Adjustable Rate Texas mortgage (ARMs) loans.
First-Time Home Buyer? FHA Loans are probably your best option
An FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers. Rather, it provides protection through mortgage insurance (MIP) against losses as the result of homeowners defaulting on their mortgage loans. Available to all buyers, FHA loan programs are primarily designed to help low and moderate-income families. Who do not meet requirements for conventional loans that adhere to more strict underwriting guidelines? However, there are cases in which borrowers who are eligible for conventional financing would still choose an FHA loan. FHA loan programs are particularly beneficial to those buyers with less available cash as the required down payment is lower than for conventional loans. Rates on FHA loans are also generally lower than conventional Texas mortgage loans.
Are you a Texas Veterans? We specialize in Texas VA home loans
Proudly serving our Texas veterans. We are the only approved VA mortgage payer in Texas offering low rates and low fees. VA loans are guaranteed by the U.S. Department of Veterans Affairs (VA) to eligible veterans. Guarantee means that in case of failure to pay the loan, the payer is protected against the loss. In most cases, no down payment is required for a VR guaranteed loan, and the borrower usually receives a lower interest rate than is generally available with other loans. Mortgage insurance is not required; however, the VA takes charge of a fund to issue a guarantee. Fitty can be paid in cash through the buyer or seller, or it can be financed in the amount of or the experienced person can be waived if disabled. Eligible veterans are all active responsibilities, honorably discharged to veterans with 22 months of service, or archived, or any other combination with completed full years. Certificate of Eligibility or Statement of Service is required for eligibility for VA loan.
Conventional Texas Mortgages—Loans Under $548,250
Conventional mortgage loans in Texas are the most common types of home mortgages and are insured by either Fannie Mae or Freddie Mac. With down payments as low as 5%, conventional loans offer better terms with lower mortgage insurance costs and rates based on credit rating. Additionally, conventional home loans enable borrowers to finance multiple assets, including a second home and investment property.
