Effective Mortgage Broker, Lending Agency & First Time Home Buyer Assistance In Addison, 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 11/19/2019 and subject to change without notice."

First-Time Home Buyer in Addison, Texas

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

Addison First Time Home Buyer Programs

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

Affordable Housing Corporation of the State of Texas

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

Free Homebuyer Education Classes in Addison

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

Best Mortgage Rates in Addison 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
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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 Professional Prodigy Lending Company In Addison, Texas

 

Prodigy Mortgage Program is one of the United States’ best privately owned mortgage lending companies, with more than 17 years of service to homebuyers all over the country. Mortgage professionals working with Prodigy are widely distributed throughout the country, and focus on providing all their clients with quality services to meet all their mortgage specifications and needs. The mortgage programs offered are of low rates and are made available to residents of various areas within the United States. These professional loan officers have years of experience and therefore have the outstanding ability to work and associate closely with all their clients individually, to promote and enhance their lending services.

The multiple loan programs offered are efficient to a home buyer making the first purchase on their dream home, refinancing an existing loan or when consolidating a hefty loan. The loan officers create strong relationships built on a foundation of trust with their clients and ensure that all the information provided by the clients is kept private and secure, unlike other mortgage companies. Clients may call the experienced loan officers and speak directly to them, personally visit any Prodigy office anywhere in the country, or interact with the loan professionals on the official social media platforms.

Prodigy Lending Team has been proudly named as one of the best private mortgage companies in the country, and this guarantees clients that they will receive the best loan programs that are best suited for their mortgage needs and specifications. The various mortgages provide are:

  • Conventional Home Loans – These loans are characterized by very flexible means of payment, which may go up to 30 years, low-interest rates with approved scores and no lending fees whatsoever. They have a low down payment of 3%, with a reduced PMI as compared to FHA loans.
  • FHA Home Loans – Apart from having low down payments of 3.5%, FHA loans offer rehab loans alongside them and have attractive interest rates. A higher debt to income ratio is required from the clients and all other qualifications to be met are easy.
  • VA Home Loans – These loans are mostly offered to veterans and have the best rates, unlike other government loans. They have lower closing costs, with 100% financing on the mortgages and no mortgages insurance is required. VA loans are easier to qualify for.
  • USDA Home Loans – A home buyer is required to have a Home and Income Location to be given a USDA loan. The mortgage insurance rates are low, alongside low-interest rates and no required down payment. They also offer 100% financing on the mortgage.

First time home buyers should become more familiar with the home buying process, to make it easier for them to purchase, and acquire their dream homes.

Please contact us if you have any questions!

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