Skilled Mortgage Lender Company, First Time Home Buyer Assistance & Conventional Home Loan Consultant In Red Oak, 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 Red Oak, Texas

For a first time home buyer Red Oak 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 Red Oak offers ways to make it work for you.

Red Oak First Time Home Buyer Programs

There are programs in the Red Oak area to help first time home buyers. The first to consider is HCDD which is Red Oak’s Housing and Community Development Department. This program offers assistance via HAP, the Home-buyer Assistance Program in Lancaster. 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 Red Oak 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 Red Oak area and buying a home that lies within the City of Red Oak for tax purposes.

Affordable Housing Corporation of the State of Texas

Also, for a first time home buyer Red Oak 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 Red Oak home buyers. This is a grant, so the family does not need to pay it back.

Free Homebuyer Education Classes in Red Oak

Perhaps the most important thing for a first time home buyer in Red Oak is to their homework. An excellent idea is to take advantage of one of the classes for home buyers in the Red Oak 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 Red Oak or anywhere.

Best Mortgage Rates in Red Oak 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 Red Oak, Texas

 

As a team we are always there to meet the needs of our clients, the prodigy lending institution was born in the late 90s, and for more than a decade, it has been offering high-quality services it has professionals who have gained experience over the years. Homebuyers might be having a problem when trying to purchase a home, maybe a home buyer doesn’t have enough cash for the project or maybe he or she doesn’t the knowledge of how to start the process. We can help a buyer who is in such a situation because that is what we are good at, offering the best services to our clients.

As a homebuyer who wishes to buy a new home but you are currently facing financial challenges you are advised to look for a home loan lending institution that will suit your mortgage needs and since we are best at what we do. Prodigy lending will give you the best experience, we will take you through the entire process within a very short time saving you time.

There is a class of mortgage plans that you can benefit from.

CONVENTIONAL HOME LOANS

The mortgage plan is not government-insured.

  • This mortgage plan offers low down payment of 3% on its loans.
  • As a borrower, you are not charged a lenders fee on the loan.
  • The program offers flexible rates on the loans depending on the lifespan of the loan.
  • A borrower having a higher FICO score is offered with the best loan rates.
  • The loan program has a reduced PMI but FHA loan programs have a much higher PMI.

    VA HOME LOANS

It is a government program. Best for members serving in the military. The loans are easy to qualify for because of the minimum eligibility requirements.

  • These loans are fully financed with zero down payments.
  • The borrower is not charged for mortgage insurance on the VA loans.
  • The VA loans are offered at affordable rates.
  • Closing costs on VA loans are very low.

    FHA HOME LOANS

This program was started in the year 1934 by the U.S government mainly to provide affordable housing to Americans. This program is backed up by the government.
An FHA loan program is easier to qualify for because it does not have strict eligibility requirements.

  • The loans are offered to clients at affordable interest rates.
  • It has other loan programs like Rehab loans.
  • A client must have a higher Dept to Income ratio to qualify for an FHA mortgage.
  • The loan is offered at low down payments of 3.5%.

    USDA HOME LOAN

This is a mortgage plan backed by the U.S Government. 

The loans are fully financed at low-interest rates with zero down payment requirements.
The loans are offered at Low Mortgage Insurance costs that you pay monthly.
The borrower must meet the income requirements set by the lender in order to qualify.

Our main priority is to make sure we take you through the entire process educating you so that you may be able to get the best deal according to your project needs. We are always honored in serving you.

YOU ARE WELCOME TO EXPERIENCE THE BEST SERVICES WE OFFER. 

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

 

 

 

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