Expert of Conventional Home Loan, VA Home Loan & USDA Home Loan In Melissa, TX

Conventional Rates

4.125 %

4.210 %APR


Low Fixed Rates For 30 Years

FHA Rates

3.625 %

3.798 %APR


Minimum of 3.5% Down

VA Rates

3.625 %

3.721 %APR


100% VA Loan With No Private Mortgage Insurance

USDA Rates

3.875 %

4.101 %APR


100% Financing In Rural Areas

"Rates, terms, and fees as of 08/03/2020 and subject to change without notice."

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

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
husband and wife using Spring Texas Mortgage Lender to buy a house

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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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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 Loans 

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.

Veterans Loans

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. 

Commercial Loans

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:
75002, 75009, 75013, 75024, 75025, 75035, 75058, 75069, 75070, 75071, 75078, 75097, 75121, 75407, 75409, 75424, 75442, 75454, 75485, 75490, 75495, Melissa TX, Weston TX, Mc Kinney TX, Anna TX, Westminster TX, Princeton TX, Van Alstyne TX, Blue Ridge TX, Celina TX, Allen TX, Prosper TX, Farmersville TX, Gunter TX, Frisco TX, Copeville TX, Plano TX, Trenton TX

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