Ambitious Mortgage Broker, Lending Agency & Home Loan Agency In Frisco, 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 Frisco, Texas

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

Frisco First Time Home Buyer Programs

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

Affordable Housing Corporation of the State of Texas

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

Free Homebuyer Education Classes in Frisco

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

Best Mortgage Rates in Frisco 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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Important Ideas on Plano First Home Buyer Program – The Prodigy Lending Team

 

This team has been providing award-winning services for more than two decades. It consists of professionals in mortgage services who are really committed to giving quality service in the lending industry. Whether buying a first-time dream home in Frisco, consolidating loan or refinancing a current mortgage, it will help you purchase the best home that fully satisfies you. Additionally, this team of officers can aid you to get the best loan program with the lowest possible rates. The ultimate goal is creating a good relationship with every client enhancing the provision of excellent service for decades. Unlike other numerous mortgage companies across the country, customer details are confidential and secured from unauthorized access. This is what makes Prodigy name entrusted throughout the lending community.

Are you in need of buying a new house or refinancing an existing mortgage? Use the following tips for Frisco first time home buyers program:

Conforming Loans:  This is a home loan amounting to about $484,350. It as well adheres to guidelines set by Freddie Mac and Fannie Mae. To qualify for this loan, you need to have the following loan requirements:

  • Minimum credit score requirements about FICO 620
  • Must be below or at the conventional loan limit.
  • Must meet guidelines set by Freddie and Fannie
  • Interest rate which is low
  • Terms that are flexible i.e. 10, 15, 20 and 30 year home loans
  • Decreased PMI comparing with FHA mortgages

Crucial FHA Guidelines for First Time Home Buyers in Frisco

This Administration provides you with mortgage insurance on loans applied and approved by its lenders. It does this for both single and multi-family in the U.S and its territories.

Its requirements are:

  1. Mortgage Insurance Premium
  2. FICO credit score ranging between 500 and 579 with a 10% down payment.
  3. The home ought to be the borrower’s main host.
  4. FICO score at least 580 with about 3.5% down payment
  5. A debt to income ratio less than 43 percent.

USDA Loans Helping Frisco First Home Buyer

Frisco rural development program allows homebuyers to buy homes at affordable prices. It allows 100% financing. 

Below are some of its basics:

  • If you qualify, 100 % financing is granted.
  • Has no cash reserve requirements.
  • You are allowed to get about 6 percent of the appraised value to help cater for the remaining closing cost.
  • Private Mortgage Insurance is not required. 

Benefits of Veteran Home Loans

They are offered after investigating financial background whereby no money downing will be done. Its interests are low rated and no mortgage insurance is offered monthly. At times, debt-income ratios may reach up to 70%.

Conclusion

If you are need of mortgage advice, you are recommended to call at any time as well as utilize all availed interactive tools throughout the site. The team is always looking forwarding to giving you quality service and advice to help you get a mortgage that is satisfying.

Finally, due to daily market changes, you are advised to fill out a short form and get a reliable quotation.

Please contact us if you have any questions!

Mortgage Lenders In Plano Texas Catering To FHA Loans And First Time Home Buyer Programs