The Motivated Mortgage Lender, Home Loan Agency & First Time Home Buyer Assistance In Weston, 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 Weston, Texas

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

Weston First Time Home Buyer Programs

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

Affordable Housing Corporation of the State of Texas

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

Free Homebuyer Education Classes in Weston

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

Best Mortgage Rates in Weston 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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Prodigy Lending- Crucial Tips for First time Home Buyers in 2019 Weston

 

MCC meaning Mortgage Credit Certification gives you a chance to enhance your mortgage application as well as reduce your tax bill by decreasing debt to income ratings. Additionally, it allows the elimination of about 35 percent of your annual interest. In the U.S, a team of professionals is determined and committed to giving a quality of home loan service to you.  Combined with low rates and numerous programs for loan applications availed in your locality, this experienced team will ensure it works hand in hand with an aim of helping you get the best loan program for your desired home. 

May it is you are buying your first house or refinancing another loan, the prodigy team will ensure you get the best mortgage program to aid you to achieve your ambition.

Federal Housing Authority Loan Program

FHA was established around 1934 with a purpose to give insurance coverage so that low-income families could afford to buy their homes. 

If you have bad credit or little credit history, you may find hardships when financing a home hence preferring an FHA loan for it somehow saves your situation. Most people believe that FHA offers loans and set mortgage rates with government aid. None of this is about it instead, this authority works hand in hand with banks as well as other lenders to insure mortgages on multifamily homes and single families.

It offers to insure your lender to provide terms perhaps by making sure you get a lower interest rate of allowing a down payment which is as low as about 3.5%. Below are some key factors to determine the mortgage rate:  

  • Adjustable-rate
  • Down payment amount
  • Closing cost
  • Credit score rating
  • Period of the mortgage loan
  • Credit history
  • Conventional loan limits
  • Level of income
  • Lock-in period

The down payment size as well as affects the interest rate. A large down payment of about or greater than 20% will get you the best rates.

Conforming Loans

Rates of these loans vary in different states based on crucial factors. Currently, a thirty-year fixed loan rate is ranging around 4.9 percent with periodic while 15 years fixed rate continues below 4.5 percent.

The maximum amount for most of them is about $417,000 though in CT some of them have higher limits. 

Important Issues to Know About VA Loans

To enjoy these loans you must have military qualifications. In addition, they are given to military personnel who is retired. Here, fixed and adjustable rates are provided even though some adjustable rates have produced a bad and unreliable report.

USDA Loans

USDA loans encourage low credit buyers to buy their own homes as well as those with those qualifying with high credit.

Normally lenders set a minimum score of about 640.

Conclusion

The main goal is enhancing a long-lasting customer lender relationship promoting the provision of quality service for many years.

Prodigy Lending team is known as the best private home loan lenders as well as for best and reliable mortgage rates which change with time depending on the market condition.

Please contact us if you have any questions!

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