Proficient First Time Home Buyer Assistance, Home Loan Agency & Mortgage Lender In Richardson, 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 Richardson, Texas

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

Richardson First Time Home Buyer Programs

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

Affordable Housing Corporation of the State of Texas

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

Free Homebuyer Education Classes in Richardson

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

Best Mortgage Rates in Richardson 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 Richardson, Texas

 

Prodigy Lending Team is an award-winning, privately owned mortgage company in the United States, with more than 17 years’ experience in offering mortgage services. It has its ultimate goal as creating long-lasting relationships with each of its clients, so that the provision of further services can and will be provided efficiently, effectively and for a long time. Prodigy upholds the clients’ rights to privacy and keeps all the information submitted by clients privately and securely. This instills trust in the clients, concerning the services to be offered by this mortgage lender.

The Prodigy team has a number of mortgage professionals who are well equipped with the relevant knowledge and adequate years of experience. These professionals are speared by the responsibility of ensuring that clients do get the best quality services to satisfy all of their expectations and specifications. They work with all the clients closely with all the clients at an individual basis, to make their dreams into reality. The multiple loan programs are made available to clients in their respective residential areas and are provided at the lowest rates. These loans could finance first home purchases, debt consolidation or refinance on existing loans. They include:

  • Conventional Home Loans – They are characterized by low down payments of 3% flexible terms of payment of up to 30 years reduced PMI in contrast to FHA loans, low-interest rates with approved scores and no lender fees made.
  • FHA Home Loans – Are characterized by low down payments of 3.5%, very attractive interest rates, easy qualifications to be met, higher debt to income ratio required and availability of rehab loans.
  • VA Home Loans – Characterized by 100% financing for the entire loan, no mortgage insurance required, lower closing costs, easier to qualify for and offer the best rates, in comparison to other government loans.
  • USDA Home Loans – These loans are characterized by low-interest rates with no down payment, 100% financing of the loan, low insurance costs for mortgages and a requirement for Income and Home Location.

Most loans nowadays are being offered by private lenders, who carry the risk of their loans not being insured by the government. They require their clients to have a credit score of 620 or higher. The purpose of first time home buyer programs is to help a client to apply for the home loan that is most efficient for their situation and ultimately increase their chances of acceptance. These types of loans allow for a very low down payment for good credit customers and sometimes, no down payment is required. They help subsidize the interest rates, hence allowing clients to pay either part or the entire interest off. There may also be grants, limit fees and buyers can acquire the ability to defer payments.

Please contact us if you have any questions!

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