Expert of FHA Home Loan, VA Home Loan, USDA Home Loan & Conventional Home Loan In Arlington, TX

Conventional Rates

4.125 %

4.210 %APR

30 YEAR FIXED

Low Fixed Rates For 30 Years

FHA Rates

3.625 %

3.798 %APR

30 YEAR FIXED

Minimum of 3.5% Down

VA Rates

3.625 %

3.721 %APR

30 YEAR FIXED

100% VA Loan With No Private Mortgage Insurance

USDA Rates

3.875 %

4.101 %APR

30 YEAR FIXED

100% Financing In Rural Areas

"Rates, terms, and fees as of 11/14/2019 and subject to change without notice."

First-Time Home Buyer in Arlington, Texas

For a first time home buyer Arlington offers a wide range of housing choices to fit any pocketbook. Home ownership is the American dream but finding the right home in the right neighborhood at the right price can be a challenge. And then, you need to get financing with a mortgage rate that does not eat up all of your paychecks. Luckily, if are worried about the down payment as a first time home buyer Arlington offers ways to make it work for you.

Arlington First Time Home Buyer Programs

There are programs in the Arlington area to help first time home buyers. The first to consider is HCDD which is Arlington’s Housing and Community Development Department. This program offers assistance via HAP, the Home-buyer Assistance Program in Arlington. It helps families in the low and middle-income range. For those who qualify, monies can be used for the down payment, buy-down on principal, or closing costs.

Housing and Community Development Department of Arlington HAP Program

For US citizens and permanent US residents, the HAP program can help if you are a first time home buyer or have not been a homeowner for at least three years. Also, to qualify the family must not have more than $15,000 in total assets. Only fixed rate mortgages qualify for this program. Folks can get as much as $30,000 from this program if they meet the qualifications such as falling below the 80% level of median income in the Arlington area and buying a home that lies within the City of Arlington for tax purposes.

Affordable Housing Corporation of the State of Texas

Also, for a first time home buyer Arlington has a non-profit organization that can help out. It is TASHA or the Texas State Affordable Housing Corporation. These folks have the mission of serving low-income families and individuals by helping them get into affordable and decent housing. They commonly come into the picture when other agencies cannot help.

Using private donations, TSAHC provides help with down payments, mortgage loans, and mortgage credit certificates. Their Homes for Texas Heroes Loan Program is especially for veterans, EMS workers, teachers, firefighters, correctional workers, and police. And, their Homes Sweet Texas Home Loan Program provides a 30 year fixed rate loan for eligible Arlington home buyers. This is a grant, so the family does not need to pay it back.

Free Homebuyer Education Classes in Arlington

Perhaps the most important thing for a first time home buyer in Coppell is to their homework. An excellent idea is to take advantage of one of the classes for home buyers in the Coppell area. Learn about how large of a mortgage you should take on with your salary. Learn about the various assistance programs that make home ownership possible for those who otherwise could not afford their own home. Do your homework first. Look into financing before even looking at property. That is a good route to take for a first time home buyer in Arlington or anywhere.

Best Mortgage Rates in Arlington Texas

Stop dealing with multiple lenders. We have the best Texas Mortgage Loan Rates here. We have loan specialists and loan processors that streamline the lending process. It is as easy as 1, 2, 3!
  • 1st – Preliminary Assessment – Let’s see how much you qualify for.
  • 2nd – Appraisal Report – Let’s find out the value.
  • 3rd – Approval and Closing – We can close your file in 30 days or less!

How much can you qualify for?
Right here and now you can find out how much you qualify for in 10 minutes or less!
  • See exactly how much you can qualify for instantly!
  • Work with our award-winning team of local Loan Specialists.
  • Let us help you close your loan in 30 days or less.
“I was worried about loan process time and approvals, but everything was explained to me with professionalism and ease.” – Ericka L. – 2015
husband and wife using Spring Texas Mortgage Lender to buy a house

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“I just wanted to say thank you for your help walking me through the process of purchasing my home. I closed today and everything was great. I really appreciate your work and effort in informing me about the process and helping me become a first-time homeowner.” – Will W. Client – 2015
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The Proficient Prodigy Lending Company In Arlington, Texas

 

Get informed as a first time home buyer

Buying a home can be one of the best investments one can ever make, but it can be challenging because it requires a big financial decision. As a first time home buyer, it can be a stressful situation since you may not know where to start from, but there is no need to worry anymore because we have many lending institutions that can lend you a home loan for your home project.

The prodigy lending team is one the best and recommended lending institutions because it has all the qualified staff who offers the best quality services to meet your needs. It has been serving the United States since the late 90’s so it is an institution that is recognized because of a long time of offering quality services. There is a wide range of mortgage loan programs that we offer depending on your mortgage needs.

Some of these mortgage plans are;

CONVENTIONAL LOANS
This is a private mortgage plan, this is the best for borrowers with a great credit score.

  • It has flexible terms on loans, starting from a 10-year mortgage plan up to a 30 years mortgage plan. There is no lender fee on the loan.
  • Borrowers with higher credit scores are offered with low-interest rates on the loan.
  • The loan requires a low down payment of about 3% of the property.
  • There is reduced PMI unlike FHA loans with having a higher PMI.


FHA LOANS
This is a government loan program insured under the U.S Federal Housing Agency.

  • This loan program is easy to qualify for because it does not have a lot of limitations.
  • It has some of the best interest rates on its loans. The borrower is expected to provide 3.5% down payment of total cost of the property.
  • The loan program has other subprograms like the EEM loans, 203h loan, rehab loans, 203b loan, and HECM loan programs.
  • The borrower should have a higher Debt To Income ratio.


VA LOANS
The program was started by the government to offer military members and spouses of members who died in the line of duty with affordable home loans. This loan is easy to qualify for.

  • It has low rates with no down payments required since the loan is fully financed.
  • In most cases, there is zero mortgage insurance for VA loans.
  • The closing cost for VA loans is usually lower.


USDA LOANS
This mortgage plan was started by the United States government to offer loans to Americans.

  • The loan is 100% financed with no down payments.
  • There are low-interest rates on loans with low mortgage insurance.
  • The borrower should be at the income requirements to qualify for the loan.
  • The property should be located in a suburban or rural area.

The prodigy lending team has always been there to provide high-quality services to their clients. You can reach us by visiting our site or by simply giving us a call.

Get the best loan deal for your Home project.  

Contact us via our open websites at any time of the day.

 

 

 

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