Expert Of Conventional Home Loan, USDA Home Loans & Home Buyer Loan In Somerset, 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 11/15/2019 and subject to change without notice."

First-Time Home Buyer in Somerset, Texas

For a First Time Home Buyer Somerset 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 Somerset offers ways to make it work for you.

Somerset First Time Home Buyer Programs

There are programs in the Somerset area to help First Time Home Buyers. The first to consider is HCDD which is Somerset Housing and Community Development Department. This program offers assistance via HAP, the Home-buyer Assistance Program in Somerset. 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 Somerset 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 Somerset area and buying a home that lies within the City of Somerset for tax purposes.

Affordable Housing Corporation of the State of Texas

Also, for a First Time Home Buyer Somerset 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 Somerset home buyers. This is a grant, so the family does not need to pay it back.

Free Homebuyer Education Classes in Somerset

Perhaps the most important thing for a First Time Home Buyer in Somerset is to their homework. An excellent idea is to take advantage of one of the classes for home buyers in the Somersetarea. 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 Somerset or anywhere.

Best Mortgage Rates in Elmendorf 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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The Knowledgeable Prodigy Lending Company For The First Time Home Buyers In Somerset, Texas

 

Prodigy Lending is one of the best private mortgage companies with a good reputation all over the U.S. We facilitate the process of getting first time home buyers incentives.

Take a look at the various home loan types below;

These are Conventional, FHA, VA and USDA. 

FHA and VA are easy to qualify for while VA and USDA offer 100 percent financing and therefore no down payment is required for both.

Conventional and FHA require a low down payment of 3 percent and 3.5 percent respectively. All these home loans have low-interest rates.

VA requires no mortgage insurance at all while USDA requires a low rate of the same. Both conventional and FHA do not need insurance. Conventional loans require a reduced PMI, they have flexible term and require no lender fees.

FHA offers rehabilitation loans too but the disadvantage with them is that they need a higher DTI to qualify. VA loans have a low closing cost while USDA has a limitation of location which has to be in a rural area, and also one must have a steady source of income. 

Through the wealth of experience we have accumulated over the years, we know about the market conditions. We will assist you in the best way to find the best first time home buyer program near your area.

Fill in a form and see the quote as you know the market prices fluctuate a lot.

You need to choose no other lending company because we are dedicated to serving you well.

We are proud winners of the top workplaces for 8 years consecutively and we are committed to doing excellent work so it’s an honor for us to get this recognition.

You will get the best deal of competitive rates on your home loan as well as the lowest possible loan cost for both purchase and refinance. 

Whether you are buying your dream home, or it’s your first time home buyer loan, or even refinancing of an existing mortgage, you are in the right place.

Your expectations will be met because our team delights in giving you exactly what you want considering your situation.

Talk to us one on one or utilize our website to reach us through interactive tools like email or live chat. 

We are happy to work with you our esteemed client. We promise that your information will be held confidentially and it’s guaranteed that our services will yield to satisfaction of your desire.

We have been running an award-winning service for 17 years now and we encourage you to start the pre-approval process now.

Our goal is to establish a good relationship with our clients and we expect these excellent services to be offered for many years.

If you are not comfortable with an existing mortgage loan, hook up with us so that we can find the best program to refinance it to lower rates.

Your expectations are our driving force and we promise to make you a happy investor.

Please contact us if you have any questions!

 

 

 

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