There are several Low or No Down Payment Programs. Below are some of the Loan Options available. The first step is to fill out the inquiry form and one of our loan officers will call you right away to see which loans you are eligible for. You can buy an existing home, have a new home built or even buy a foreclosed property. The first step is to start the application process for the loan with us so you know what programs you qualify for. Next, you start looking for a home.

Meet with a REALTOR® or you can search online. We will be glad to refer one to you. Once you find the home we process and close the loan.

USDA Loan

Today there are many homebuyers who do not have enough money on hand to make a large down payment for a home. The good news is that there are several options in finding low or no money down home loans.

Mortgages requiring little or no money down are becoming more accessible to the average homebuyer.

The Federal Housing Administration is now insuring loans with much smaller down payments. Private insurers have also reduced requirements for down payment.

The Department of Agriculture and the Veterans Affairs offer no down payment loans that have a guarantee on home loans which require no down payment at all.

Low or No Money Down Programs:

Down Payment Assistance

The program offered by Texas State Affordable Housing Corporation (TSAHC) provides access to fixed-rate mortgage financing, down payment assistance grants and mortgage credit certificates for teachers, police officers, corrections officers, fire fighters, EMS personnel, veterans and low and moderate-income households.TSAHC partners with nonprofit local organizations for housing in redeveloping properties for affordable housing.

TSAHC’s Mortgage Credit Certificate (MCC) Program is available to all first time homebuyers.

FHA for First Time Home Buyer

We are pleased to announce that FHA is available for home buyers! Many first time homebuyers prefer this option when compared with the USDA; because the USDA is limited to rural areas only. With the FHA you can buy a home in urban or rural areas so there are more options available when looking for a home.

Low or No Down Payment!
Can buy home in urban or rural area
Can buy new home, existing, or have one built brand new

VA Loan

The Department of Veterans Affairs (VA) guarantees VA loans to eligible veterans, surviving spouses, and active military persons. Many VA loans do not require any money down and credit rating isn’t as important when compared to other first time home buyer loans. Most of the time, closing costs are paid by seller or covered by a gift fund. There is no private mortgage insurance necessary.

If you have already obtained a VA loan, you can qualify for streamlined refinancing. This is simple and requires less time than conventional refinancing. In addition, the expense is much less. Prepayment penalties do not apply with any streamlined refinance loan. Underwriting is also not required.