Expert of USDA Loan Programs, VA Home Loan & Conventional First Time Home Buyer Program In The Colony, 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 07/05/2020 and subject to change without notice."

First-Time Home Buyer in The Colony, Texas

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

The Colony First Time Home Buyer Programs

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

Affordable Housing Corporation of the State of Texas

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

Free Homebuyer Education Classes in The Colony

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

Best Mortgage Rates in The Colony 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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The Professional Prodigy Lending Company In The Colony, Texas


Buying a home for the first time can be a tedious, daunting and exhausting process for a home buyer who has no prior experience in the process of buying a home. A variety of first time home buyer programs exist to help first time home buyers in selecting the best financing options, assist them with placing their down payments and tax incentives. However, for the applicants to receive homebuying benefits, they must meet the eligibility requirements that have been set.

Prodigy Mortgage Program is one of the best private mortgage lending companies in the United States, has been offering high-quality mortgage services to home buyers for over 17 years. It has been listed among the top workplaces in the country for the past eight years, and it aims at creating long-lasting relationships with all its clients. Prodigy Lending Team offers low-quality mortgage loans for both first time home purchases and old home refinancing. The most current mortgage rates are offered and are made available to all clients residing in various areas throughout the country.

The Prodigy Lending Team professionals have lots of years of experience in offering the best mortgage services which are most efficient to home buyers. These mortgage professionals are located all over the country, thereby enhancing their reachability and efficiency. The multiple loan programs offered can be efficient in first time purchasing of your dream home, consolidating your debts or refinancing your existing loan. One of the many first-time homebuyer programs that have been around for a while is government grants, which are becoming more and more popular with time. As long as the funds from the grant are properly used and the terms of the grant are not violated, these funds are not to be paid back. This gives a buyer the liberty to own a home for three years or more. The various loan programs offered by Prodigy Lending Team include:

  • Conventional Home Loans – Have a low down payment of 3% down on mortgages, low-interest rates with approved scores, and no lender fees. They have a reduced PMI as compared to FHA loans, with very flexible terms of payment, mapping out up to 30 years.
  • FHA Home Loans – They have very easy qualifications, attractive interest rates, and low down payment of 3.5%. Here rehab loans are available and to qualify, you require a high debt to income ratio.
  • VA Home Loans – Offer lower closing rates with no mortgage insurance and 100% financing. The VA rates are better in comparison with other government loans and are easier to qualify for.
  • USDA Home Loans – One of the requirements to qualify for this loan include a Home an Income Location. They have low mortgage insurance costs, low-interest rates with no down payment required and offer 100% financing.

Please contact us if you have any questions!

We also service the following zip codes and surrounding areas:75001, 75006, 75007, 75008, 75010, 75011, 75013, 75019, 75022, 75023, 75024, 75025, 75026, 75027, 75028, 75029, 75034, 75035, 75038, 75039, 75041, 75042, 75044, 75045, 75046, 75047, 75049, 75056, 75057, 75063, 75065, 75067, 75068, 75070, 75074, 75075, 75077, 75078, 75080, 75081, 75082, 75083, 75085, 75086, 75093, 75099, 75220, 75229, 75230, 75234, 75238, 75240, 75243, 75244, 75248, 75251, 75252, 75287, 76051, 76092, 76099, 76201, 76202, 76203, 76204, 76205, 76206, 76208, 76209, 76210, 76227, The Colony TX, Carrollton TX, Frisco TX, Plano TX, Dallas TX, Lewisville TX, Little Elm TX, Lake Dallas TX, Addison TX, Coppell TX, Flower Mound TX, Allen TX, Richardson TX, Prosper TX, Irving TX, Denton TX, Aubrey TX, Grapevine TX, Mc Kinney TX, Garland TX, Southlake TX[/expand]

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