30 YEAR FIXED
Low Fixed Rates For 30 Years
30 YEAR FIXED
Minimum of 3.5% Down
30 YEAR FIXED
100% VA Loan With No Private Mortgage Insurance
30 YEAR FIXED
100% Financing In Rural Areas
First-Time Home Buyer in Melissa, Texas
For a first time home buyer Melissa 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 Melissa offers ways to make it work for you.
Melissa First Time Home Buyer Programs
There are programs in the Melissa area to help first time home buyers. The first to consider is HCDD which is Melissa’s Housing and Community Development Department. This program offers assistance via HAP, the Home-buyer Assistance Program in Melissa. 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 Melissa 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 Melissa area and buying a home that lies within the City of Melissa for tax purposes.
Affordable Housing Corporation of the State of Texas
Also, for a first time home buyer Melissa 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 Melissa home buyers. This is a grant, so the family does not need to pay it back.
Free Homebuyer Education Classes in Melissa
Perhaps the most important thing for a first time home buyer in Melissa is to their homework. An excellent idea is to take advantage of one of the classes for home buyers in the Melissa 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 Melissa or anywhere.
Best Mortgage Rates in Melissa Texas
- 1st – Preliminary Assessment – Let’s see how much you qualify for.
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Tips on Prodigy Lending for First Time Home Buyers in Melissa, Texas
These experts are all over the United States and are highly committed to assist you to understand first time home buyer programs Melissa. In addition, they are focused and work with the aim of providing the highest quality service for your mortgage requirements. Because of their many years of experience, they will help you find the best loan customized to specifically satisfy your desires and expectations. As well, they will tirelessly work with you to make sure you buy your dream home or successfully refinance current loans and aid you get the right loan at the lowest rate.
Important Tips for First Time Home Buyers in Melissa
USDA /Agricultural Mortgage Loans
It is offered to residents in rural regions by the United States Department of Agriculture. The main aim is helping both moderate and low-income earners achieve their dreams of home possession.
This program come with various requirements and benefits:
- Be a Citizen in the United States
- Have the ability to meet obligations
- Live in an eligible rural area
- Have adequate credit score ranging about 620 and 640
- Be a low-income earner less than 50 percent
- Availability of grants up to almost $7500
- Maximum loan amounting to $20000
- Zero Down payment
- Ease of qualification
FHA assess your monthly income and payback status with other lenders. Additional, it will carefully check on debt to income ratio thus giving a chance to refinancing or buying your home.
Additionally, less money comes out of your pocket. FHA comes with several benefits:
- Some have 100% financing
- Less than 3 percent down payment is required
- Seller can offer a credit of up to 6% sale price.
The following are the main reasons which can make you choose VA loans:
- By just being a military officer, you are eligible and qualified.
- Since they are backed by the U.S government, 100% financing is assured to most applicants.
- They have a favorable low closing cost.
- They have friendly mortgage rates.
The following are considered by lenders on your application:
- A record employment record
- Amount of money you spend monthly
- Current assets such as savings etc.
- A credit score ranging between 620 and 640
Prodigal home loans team has been giving the best services for the past seventeen years which has made them proud. It is committed to honoring the recognition.
It has the most and lowest interest rates. Besides, it offers different low-cost home loans refinancing and buying. This lending team is well known as one of the most preferred private mortgages among all states. It is a guarantee that the prodigy program will offer you a specific loan option.
Are you a first time home buyer Melissa 2019?
Currently, the mortgage rate is provided basing on market conditions. Since it often changes, you are advised to apply by filling forms and quickly obtain a quotation.
Please contact us if you have any questions!We also service the following zip codes and surrounding areas: