The best mortgage programs for first time home buyers in Dallas |
First Time Home Buyer Dallas TX
1999 Bryan St #120 Dallas, TX 75201, USA Phone:(866) 772-3802 |
There are various mortgage programs that are designed to assist Dallas first time home buyers. Many first time home buyers may not have enough down payment amounts and their FICO scores may be low. To ensure that these people access mortgages, there are special programs that are designed for them. In case you’re a first time home buyer in Dallas, there are 3 key programs that you may consider: VA, FHA and USDA. These mortgage programs are backed by the government and assist various groups of the US population. This article will shed light on each of the aforementioned programs:
FHA programs The Federal Housing Administration (FHA) loans are popular to many Americans because of their lenient credit requirements and low down payment amounts. The loan only requires 3.5% down payment when you score 580 and above. In case your score is in between 500 to 579, you’ll put down 10% of the total credit you’re applying for. In case you don’t have enough down payment amounts you can request your friends, family and colleagues to give you a gift fund that FHA mortgage accepts. There are various perks for an FHA loan for first time home buyers. These include low down payment, low scores, and its being leniency on credit history. USDA programs These mortgage programs are tailored to meet the loan needs of rural communities in the US. The USDA has broadened the meaning of rural to ensure that many people in the US access the mortgage. The USDA loan does not require any down payment amounts and has low mortgage insurance. The USDA loan is offered at affordable rates as it is guaranteed by the government. VA programs The US government recognizes the prestige and honour that the military accords the country. There are various welfare programs that have been designed to assist the men and women who work with the military or the veterans. One of them is the VA loan program. The VA program assists the active military personnel, the veterans and those that have been honorably discharged to buy their homes. Before your FHA file is underwritten, you must have a certificate of eligibility and you must have worked for a specific minimum period of time. For instance if you have served during wartime, you must have worked for 90 days before you apply for the VA loan. Conversely, if you worked during peacetime, you must have offered your service for 181 days before you apply for your VA program.Dallas first time home buyer program The VA mortgage has various advantages. These include: it does not require any down payment amount, you need not pay mortgage insurance, and it is offered at competitive rates. |
Find Us Online:
Wordpress Tumblr Myspace Plurk Pearltrees Brownbook Citysquares Folkd Github Issuu Dzone Soundcloud Vimeo Goodreads Bookmarkee Deviantart Evernote Blogger En.gravatar Last fm Youtube Digg Getpocket Openstreetmap Laborlawtalk About me Mix Remote Scoop it Ebusinesspages Akonter Brandyourself Slashdot Merchantcircle Salespider Tupalo Ebusinesspages/AddCompany Cityfos Myhuckleberry Chamberofcommerce Tuugo us Communitywalk Ezclassifiedads Iglobal united-states Hub biz Disqus Tex biznet-us Trustlink org Kdpcommunity Amazon Cybo Itsmyurls Livejournal Smallbizpages Academia edu Yelloyello Gomylocal Dribbble Stackoverflow Behance Diigo Flickr Trello Citybase Bit ly Activerain The mortgage list Mortgage news daily Lender411 |