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The Best Home Financing Programs
Home Loans For Texas Homebuyers
Whether a first-time homebuyer or looking to refinance your home in Texas, our team has the home loan programs to fit your need.
Looking to fund your home in another state? We make it easy! Contact our team for more information.
What sets us apart? Our fast service, competitive rates, and backing by Hometown Lenders Inc. make our offerings competitive in the homebuying market
Our Home Financing Solutions
Loan Programs for Every Need
Conventional Loans
Advantages:
- Fixed interest rate
- Flexibility on the length of your loan
- Loans up to $647, 200
Disadvantages:
- Higher credit score requirements than other types of loans
- Insurance required on loan with a higher than 80% LTV
- Higher down payment requirement than federally-insured loan programs
Jumbo Loans
Advantages:
- Loan Sizes more than $647,200
- Ability to buy bigger home
- Ability to have advantage in highly competitive markets
Disadvantages:
- Higher interest rates than conforming loans
- Higher closing costs
- Not guaranteed by Fannie and Freddie Mac
VA Loans
Advantages:
- Option to put 0% down
- Lower interest rates than most other loan programs
- No mortgage insurance
Disadvantages:
- Funding fees
- Can not be used to purchase second home or investment property
- Loans do not cover the closing costs
FHA Loans
Advantages:
- Less strict credit requirements than conventional loans
- Smaller down payments – FHA loans only require a 3.5% down payment
- Ability to get a better interest rate with worse credit
Disadvantages:
- Mortgage insurance payments
- Smaller loan limits than conforming loans – 65% of an areas conforming limit
- Home you are purchasing must meet FHA guidelines
USDA Loans
Advantages:
- Ability to put 0% down
- Lower interest rates
- Ability to build a home with the funds from the loan
Disadvantages:
- Home must be in a USDA approved area
- Income limits
- Mortgage insurance
Green Mortgage Loans
Advantages:
- Makes your home more environmentally friendly
- Makes your home more affordable in the long run
- Lower interest rates
Disadvantages:
- More documents needed to get your green mortgage approved
- Complicated loan process
- Monthly mortgage payments become higher
Adjustable Rate Mortgage
Advantages:
- You have lower payments while your loan still has a fixed rate
- Your rate could decrease
- Ability to get a more expensive home due to the lower payments
Disadvantages:
- Your rate could increase
- ARMs are complex
- Certain caps can cause negative amortization
Investor Solutions
Advantages:
- Ability obtain a loan larger than the conforming loan limit of $647,200
- Great option for individuals who have extra cash on hand that want to invest their money somewhere other than the stock market
- Another good option for investors who want to acquire an investment property to have a passive income flow, but don’t have enough cash to get started
Disadvantages:
- Higher interest rate
- Getting the financing for your investment property can take a number of forms
- May require a down payment of 30% for an investment property, rather than 20%.
Construction Loans
Advantages:
- Ability to only make interest payments until construction is complete
- More flexible terms if you obtain your funds from a hard money loan
- Construction loans can be used for everything in the construction and loan process
Disadvantages:
- Higher interest rate
- Shorter length to repay loan
- More difficult to qualify for if you go through a bank
*Loan solutions can vary. Please contact us for more information about loan programs available in your area.
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