Home Loans in Dallas, TX

Designed to align with your long-term and short-term goals. Our team collaborates with various lenders to deliver the best possible solutions for you and your family. Explore our featured programs below.

Traditional Financing List

For the times when long term interest rate security isn’t a priority and you only need the guarantee of a lower rate for short time.

A conventional loan is a mortgage that follows the guidelines set by Fannie Mae and Freddie Mac. These government-sponsored companies help provide lenders with the money they need to make home loans. Loan size, limited to $726,200 in most U.S. counties, is the most well-known requirement for conventional loans.

An FHA Loan is a government mortgage insured by the Federal Housing Administration (FHA). FHA Loans offer borrowers relaxed credit requirements and more flexible underwriting guidelines than conventional loans. In addition to purchase loans, refinance programs are available for FHA borrowers, non-FHA borrowers, and homeowners interested in cash-out options. Up to 80% of the home’s current value can be taken out in cash with a refinance.

A VA loan is guaranteed by the Department of Veteran Affairs. They are specifically designed for Active-Duty Service members, Veterans, Reservists, National Guard members, surviving spouses, and certain other individuals who meet eligibility requirements to purchase or refinance an existing mortgage.

Clients living in rural or suburban areas have the opportunity to qualify for a no down payment loan option backed by the U.S. Department of Agriculture.

A Jumbo loan is when the loan amount is higher than the conventional loan limit, which is $726,200 in most U.S. counties.

This is a type of loan that allows homeowners to borrower money against the equity built up in their home. It works like a credit card, in that borrowers are given a line of credit they can draw on as needed. The interest rate is typically variable. HELOCs usually have a draw period and a repayment period. During the draw period, the borrower pays interest only. During the repayment period, the borrower is required to repay the principal and interest.

This type of loan allows homeowners to borrower money against the equity built up in their home. With this loan you’ll receive the loan in a lump sum upfront. Most HELOANS have a fixed interest rate, so your monthly payment (including principal and interest) will remain the same throughout the lifetime of the loan.

Creative Financing List

A bank statement loan is a type of mortgage that allows self-employed individuals or those with non-traditional income sources to qualify for a loan using their bank statements as proof of income. Instead of providing traditional income documents like tax returns or pay stubs, borrowers can use their bank statements to demonstrate their ability to repay the loan.

A Debt Service Coverage Ratio (DSCR) loan is a type of real estate loan that evaluates the borrower’s ability to generate sufficient cash flow from the property to cover the loan payments. It calculates the ratio of the property’s net operating income to its debt obligations, including the loan payments and other property-related expenses

An ITIN loan is a mortgage loan designed for individuals who do not have a Social Security number but possess an Individual Taxpayer Identification Number (ITIN). These loans provide an opportunity for non-U.S. citizens, such as immigrants or foreign nationals, to secure financing for purchasing a home or refinancing an existing mortgage.

A Community Loan is a return to common-sense underwriting. This innovative product addresses the regulatory rules limiting prime borrowers’ access to lending by eliminating all income requirements.

A hard money loan is a type of short-term financing secured by real estate. Unlike traditional bank loans, hard money loans are typically provided by private investors or companies. These loans are primarily based on the value of the property being used as collateral rather than the borrower’s creditworthines.

A commercial loan is a type of financing provided to businesses for various purposes, such as acquiring or expanding commercial properties. These loans are specifically designed to meet the unique needs of businesses and are typically offered by private investors.

Loan Terms List

Be worry free with 30 years of security. This is the most common product for our first time homebuyers and our clients refinancing. Check to see if you qualify for 3 percent down on a new home purchase.

A 25-year fixed mortgage provides stability and predictability with consistent monthly payments over a long-term period.

A 20-year fixed mortgage allows for relatively quicker loan repayment compared to longer terms while still offering stability.

With the lowest rates in the market, give yourself the opportunity to pay your house off in half the time.

A 10-year fixed mortgage enables borrowers to pay off their loans faster, build equity quicker, and potentially save on interest payments over the life of the loan.

Questions?

Your Guide to Texas Mortgage Loan Options

Home Loans in Dallas, TX​

When it comes to Texas mortgage loans, the options can seem as diverse and expansive as the Texas real estate market itself. At HomeTown Lending, we recognize the importance of making well-informed decisions, whether you’re stepping onto the property ladder for the first time or you’re an experienced investor. Let’s get into the mortgage options that are fueling growth and opportunity from the bustling streets of Dallas to the growing suburbs of McKinney and beyond.

Texas FHA Mortgages: A Smart Start for First-Time Homebuyers

Texas FHA loans are a popular choice among first-time homebuyers due to their accessible entry point — requiring just 3.5% down. While these loans are generally aimed at aiding low to moderate-income families, they also cater to borrowers who could pursue conventional financing but are drawn to the FHA’s lower down payment requirements. With favorable rates and a less stringent credit requirement, FHA loans are an excellent route for buyers with limited cash reserves.

Dedicated Lending for Veterans: Texas VA Mortgages

Our Texas veterans deserve our utmost respect and support, which is why VA mortgage loans are a cornerstone of our services. These loans offer a heartfelt ‘Welcome Home’ to eligible veterans, active-duty members, and reservists, providing the advantage of low rates and minimal fees. A VA loan is a mark of honor for your service, and eligibility is confirmed with a Certificate of Eligibility or Statement of Service.

Financing Rural Homeownership: USDA Home Loans

For those looking to enjoy the serenity of Texas’s rural areas, USDA Loans provide 100% financing options. These loans are designed for the purchase of rural properties and come with attractive credit terms, including the possibility to finance closing costs. USDA loans are designed to make rural homeownership more attainable, offering a straightforward path to purchasing a home outside urban centers.

The Foundation of Home Financing: Conventional Mortgages

Conventional mortgage loans remain the standard in Texas home financing. Insured by Fannie Mae or Freddie Mac, these loans allow for down payments as low as 5% and offer competitive terms with mortgage insurance costs and rates determined by your credit score. Conventional loans are versatile, enabling the financing of primary residences, second homes, and investment properties with a conforming loan limit of $766,500 for Texas counties.

Financing Premium Properties: Texas Jumbo Mortgages

When the value of the property exceeds conventional loan limits, Texas Jumbo Loans come into play. These loans cater to the financing needs of higher-priced properties and are facilitated through private investor programs. While the guidelines may be more restrictive, they provide a means for financing upscale properties at competitive rates.

Tailoring Mortgage Solutions to Fit Your Needs

Choosing the right mortgage can be a critical decision in your real estate journey. At HomeTown Lending, our experienced loan officers are here to walk you through the maze of options. We’re committed to finding a loan solution that fits your individual financial needs.

Expert Consultations: Streamlining Your Texas Mortgage Experience

Our Texas mortgage loan experts are ready to provide a comprehensive and straightforward lending service that includes:

  • Reviewing your specific loan scenario.
  • Presenting the best loan options for your circumstances.
  • Detailing current rates and fees.
  • Calculating your precise borrowing power and repayment plans.
  • Explaining all costs and the overall loan process.
  • Advising on ways to economize.
  • Offering a no-cost loan estimate.

Navigating the home loan process can be as straightforward as your commitment to finding the right home. At HomeTown Lending, we’re eager to facilitate your journey to homeownership, ensuring that every step, from application to closing, is handled with professionalism and care. Visit us for a personalized approach to your Texas home loan needs.