30 YEAR FIXED
Low Fixed Rates For 30 Years
30 YEAR FIXED
Minimum of 3.5% Down
30 YEAR FIXED
100% VA Loan With No Private Mortgage Insurance
30 YEAR FIXED
100% Financing In Rural Areas
First-Time Home Buyer in Rowlett, Texas
For a first time home buyer Rowlett 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 Lancaster offers ways to make it work for you.
Rowlett First Time Home Buyer Programs
There are programs in the Rowlett area to help first time home buyers. The first to consider is HCDD which is Rowlett’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 Rowlett 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 Rowlett area and buying a home that lies within the City of Rowlett for tax purposes.
Affordable Housing Corporation of the State of Texas
Also, for a first time home buyer Dallas 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 Dallas home buyers. This is a grant, so the family does not need to pay it back.
Free Homebuyer Education Classes in Rowlett
Perhaps the most important thing for a first time home buyer in Rowlett is to their homework. An excellent idea is to take advantage of one of the classes for home buyers in the Rowlett 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 Rowlett or anywhere.
Best Mortgage Rates in Rowlett Texas
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The Competitive Prodigy Lending Company In Rowlett, Texas
Prodigy Lending is a trusted mortgage lender that operates in every part of America. They have a group of professional loan officers who offer help to home buyers, wishing to acquire mortgages. A first time home buyer who may not be familiar with the different home loan programs available is advised on what best suits them. Besides giving loans for the first home, they also assist buyers who would wish to buy their dream homes, refinance their existing mortgages, or consolidate their debts. In Rowlett, a first time home buyer can access different mortgages which include the following:
These loans are attractive to borrowers who have good credit scores and those that can afford a down payment of 3% of the homes purchase price. They have a low PMI insurance compared to FHA mortgage. The loans also have a flexible duration of repayment ranging from 30, 20, 15, or 10 years. A borrower with high credit scores can enjoy low-interest rates of the loan.
This type of loan favors a first time home buyer who may not have a good credit score, and who can raise a down payment of 3.5% of the total sale price. It is easy for a home buyer to qualify for an FHA mortgage, and the loan also attracts a low-interest rate. A home buyer who wishes to buy a home that needs repairs and renovations also gets a rehab loan. The DTI ratio is high, making it possible for a buy that has many debts to qualify for the credit.
VA Home Loans
These loans are designed for military officers and veterans in every part of America. They give attractive first time home buyer programs in Rowlett and other parts of America who are active service members and those who desire to own home. VA mortgages provide 100% financing, they have no mortgage insurance, and their closing costs are low. VA loans offer the best rate among all government loans, and it is easy for a buyer to qualify.
USDA Home Loans
Homebuyers who wish to purchase properties in designated rural areas can easily do so with the help of USDA home mortgages. The loans have 100% financing, no down payment, and their interest rates are low. The mortgage insurance fees are minimal, and they are only for those with enough income, and the house for purchase is in an eligible rural area.
Prodigy Lending aims at creating a good rapport with their clients to serve them for many years. The company is trusted with keeping its customer’s information private and secure. A customer has the freedom to contact their support staff any time using their ever open call center. Prodigy has received the Top Work Award for several years.
Any first time home buyer in Rowlett, who wishes to acquire current mortgages with the most attractive interest and down payment, should try the services of Prodigy Lending. The ever committed professionals will ensure a buyer ends up satisfied.
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