LOAN PROGRAMS

A government-backed mortgage that offers a low down payment option, making homeownership more accessible. It is an excellent choice for first-time homebuyers and those with low to moderate incomes. It is also ideal for less-than-perfect credit.

REQUIRMENTS

• Minimum credit score of 600 (or higher)

• Debt-to-income ratio (DTI) below 57%

• A down payment of at least 3.5%

• Owner-occupied primary residence

IDEAL FOR

• First-time homebuyers with low to moderate credit scores

• Borrowers with limited savings for a down payment

• Buyers in high-cost housing markets

A standard mortgage not backed by a government agency. It typically requires a higher down payment and offers flexible terms, making it suitable for borrowers with strong credit histories and stable financial situations.

REQUIREMENTS

• Strong credit score (typically 640 or higher)

• DTI below 50%

• A down payment of at least 20% is preferred (lower amounts from 1% or 5% down, but with Private Mortgage Insurance)

IDEALFOR

• Borrowers with excellent credit and stable income

• Buyers seeking low mortgage rates and avoiding private mortgage insurance (PMI)

• Those who want flexibility in loan terms and prepayment options

USDA loans are designed to support homebuyers in rural areas with low to moderate incomes. These loans offer low-interest rates and require no down payment, promoting homeownership in eligible rural communities.

REQUIREMENTS

• Purchase a property in an eligible rural area designated by the USDA

• Minimum credit score of 620

• DTI below 46%

• No down payment is required

IDEAL FOR

• Qualified homebuyers in rural areas who lack a large down payment

• Borrowers with moderate credit seeking competitive interest rates

• Those looking for flexible repayment options and low mortgage insurance premiums

VA loans are exclusively for veterans, active-duty military members, and eligible surviving spouses. They provide favorable terms, including zero down payment options and competitive interest rates, as a way to support those who have served in the armed forces.

REQUIREMENTS

• Valid Certificate of Eligibility (COE) from the Department of Veterans Affairs

• Minimum credit score varies by lender (generally 600 or higher)

• DTI typically below 45%, but often times can be exeeded

• No down payment required for eligible veterans

IDEAL FOR

• U.S. veterans, active-duty military personnel, and reservists with qualifying service

• Borrowers seeking competitive interest rates and no PMI

• Those who want a streamlined loan process and flexible repayment options

The Texas Heroes program provides special home loan options for Texas veterans, active-duty military members, and qualified first responders. It aims to honor their service by offering competitive mortgage terms and benefits.

REQUIREMENTS

• Be a Texas resident (active military, veterans, teachers, police officers, firefighters, and EMS personnel also eligible)

• Minimum credit score of 640

• DTI below 45%

• Down payment of at least 3%

IDEAL FOR

• Public servants in Texas looking for competitive mortgage rates

• Qualified homebuyers seeking lower down payment options

Jumbo loans are designed for high-value properties that exceed conventional loan limits. They enable borrowers to finance larger homes by offering higher loan amounts, making it a suitable option for luxury home purchases.

DSCR loans are tailored for real estate investors and commercial property owners. The focus is on the property's income potential, with the loan amount determined by the property's ability to cover its debt obligations through rental income.

Bank statement loans are alternative financing options for self-employed individuals or those with non-traditional income sources. Instead of relying on tax returns, these loans use bank statements to verify income, providing more flexibility for qualified borrowers.