loan products & PROGRAMS

---

 A conventional loan has several attractive features that make it a great choice for many people, especially first-time homebuyers who have good credit, some funds saved for a down payment, and are at low risk for defaulting. 

An FHA loan is a government-backed mortgage option that is guaranteed by the Federal Housing Administration (FHA). There is more leniency when it comes to meeting certain loan qualifications, like credit score and debt-to-income ratio (DTI). 

A VA home loan is a special financing program by the U.S. Department of Veterans Affairs (VA), and is available only to qualified borrowers as a part of their military benefits. VA loans have more lenient credit, down-payment, and debt-to-income requirements than conventional loans. They also typically offer lower interest rates and have lower closing costs.

The Section 502 Guaranteed Loan Program allows low- and moderate-income households the opportunity to own adequate, modest, decent, safe, and sanitary dwellings as their primary residence in eligible rural areas. Eligible applicants may purchase in an eligible rural area with 100% financing.

When refinancing a mortgage, essentially, you have two choices. If you refinance your existing loan to get a lower interest rate or change the terms, it is called a rate and/or term refinance. If you want to extract some of the equity in your home—perhaps to do a renovation, pay down debts, or help pay college costs—you may do a cash-out refinance.

A reverse mortgage is a loan that allows homeowners who are 62 or older borrow against a portion of the equity in their home. A reverse mortgage works differently than a traditional mortgage loan, though. Instead of making payments to your lender, your lender will make a payment to you.

A bank statement loans allow you to purchase or refinance a home without the use of traditional income documentation. Instead, you can qualify based on your bank statements - either personal or business.

ITIN (Individual Tax Identification Number) loans are a unique kind of loan for individuals that may not have the traditional documentation needed to obtain mortgage loans. ITIN loans can be a suitable option for individuals who do not have a Social Security Number.

If you wish to qualify for a mortgage based on cash flow generated by your investment property and avoid providing employment information, tax returns, paystubs, W2s...  the DSCR loan program could be the best solution for you! 

You don’t have to be a first-time home buyer to get assistance to purchase a home in Texas. You can choose to receive the down payment assistance as a grant (which does not have to be repaid) or a deferred forgivable second lien loan (which only has to be repaid if you sell or refinance within three years).

Manufactured home loans are offered through the FHA loan program. A manufactured home loan can be used in several ways, including to finance the purchase of a new or used manufactured home, refinance a manufactured home purchase, buy the developed lot on which to locate this type of home, and for a combination purchase of both the lot and the home itself. These funds can also be used to alter, repair, or improve a manufactured home.

 With a HELOC, you’re borrowing against the available equity in your home and the house is used as collateral for the line of credit. As you repay your outstanding balance, the amount of available credit is replenished – much like a credit card. This means you can borrow against it again if you need to, and you can borrow as little or as much as you need throughout your draw period (typically 10 years) up to the credit limit you establish at closing.