"Finding the right mortgage is just as
important as finding the right home!"
Texas Mortgage Connection2  has a variety of different  solutions available for to fit just about anyone's needs.  One of our loan officers would be happy to speak with you about which solution might be right for you.
 
  FHA/GOVERNMENT  SOLUTION -  The Federal Housing Administration (FHA) insures qualified loans to promote homeownership to Americans.  Many different borrowers for many different reasons find FHA loans the best product for them.  FHA loan limits vary by county, with larger loan amounts allowed in areas with higher housing costs.

FHA loans feature:

  • Low down payment requirements
  • Flexible income, debt, and credit requirements to help borrowers qualify
  • Down payment and closing costs that may e funded by a gift, grant or secured loan
  • A variety of fixed interest rate and adjustable interest rate loan options.

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  VETERANS ADMINISTRATION (VA)  SOLUTION - If you are a US Military veteran, a VA loan is the only way to go.  This is a government back loan available exclusively to Veterans.  Contrary to popular belief, Veterans use this loan any number of times in their lifetime.  VA loans have lower interest rates than conventional loans, and since mortgage insurance is not required, VA loans typically have lower monthly payments than other loans.

This may be the right type of loan for you if you:

  • are a Veteran with 2 years active duty or 6 years in reserve duty or ay Vietnam era veteran
  • are a surviving spouse of a veteran who died while in service or is MIA/POW
  • are getting the loan for your primary home
  • have good or even blemished credit with a bankruptcy
  • have no down payment
  • want to pay zero move-in

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  CONVENTIONAL  SOLUTION - This loan type offers the greatest flexibility of any type of mortgage.  Typically conventional loans have lower interest rates than other kinds of loans.  You also have the option to pick the term of the loan.  Most people are comfortable with a 15 or 30 year mortgage, but conventional loans have flexible terms than can even set up on a 3 year balloon.

This may be the right type of loan for you if you:

  • have good credit (see our loan officer for qualifying scores)
  • have low debt compared to your income
  • want a fixed or adjustable interest rate
  • are interested in low monthly payment with a balloon at the end of the term
  • want to self escrow
  • do not want mortgage insurance
  • have 0 to 20% down payment

there are other factors to consider when selecting a convention mortgage so it is important to contact us so that we can find the right loan for you.

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l 80/15/5  SOLUTION - This is a loan which carries a second mortgage for up to 15% of the purchase price of the property.  It is usually used when wishing to avoid mortgage insurance or to keep your first mortgage under jumbo rates.  The borrower puts down 5% down payment and then finances a first mortgage and a second mortgage up to 15% of the purchase price.  You can also put 10% down. Other variations are 80/10/10 or 75/15/5. 

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l THE COMPLETE SOLUTION - (Jumbo Loans) This is a loan which carries a second mortgage for up to 20% of the purchase price of the property.  Is usually used when wishing to avoid mortgage insurance.  It offers 30 and 15 year fixed rate mortgage and competitive ARM products with full document, alternate documentation and limited documentation.

Cash out and No cash out refinance are allowable.  Single family detached, Condo’s, PUD’s and single-family second homes can be financed with no prepayment penalty. 

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103% - 107% SOLUTIONS – 0% Down payment required and closing costs can be financed up to 107% of the purchase price. Only single-family homes that will be owner occupied are eligible. First time homebuyer status not required and there are no income limits.

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l NO DOC/STATED INCOME SOLUTIONS - Loans where your income is not requested or verified.  There are several varieties of the "no-doc" loan today. Basically the type of loan that is best suited for a particular borrower depends on that borrower's situation. Some borrowers choose not to disclose employment, income or asset information, while others may be willing to disclose employment and asset information but not income. Still others might be willing to disclose even income but select a program that doesn't calculate debt-to-income ratios allowing those borrowers to exceed the traditional guidelines in order to qualify for a larger mortgage amount. With all the different variations of the no-doc loan, there is definitely a mortgage program for today's non-conventional borrowers. 

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l 2ND MORTGAGE  SOLUTIONS – Subordinate to the first mortgage these loans offer the borrower the ability to get money for home improvement, debt consolidation or many other reasons without disturbing their first mortgage. Convenient when you have a low interest first mortgage. 

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l LAND  SOLUTIONS - This loan will finance land that will someday be used to build your dream home. Usually a 15-year term.

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l CONSTRUCTION  SOLUTIONS - Building a new home can be an exciting prospect - unless you get caught up in a construction loan approval process that's overly complicated and time consuming. With this loan we will finance up to 90% of the cost of land plus the costs of construction. We offer a one time fixed rate closing or the traditional ARM products.  Contact Us  back to top
 
l INVESTOR  SOLUTIONS – Used to finance 1-4 family properties that will be for investment with as little as a 10% down payment. Aggressively priced these programs have many variations.  Please consult one of our loan officers for more information on this program. 

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 Programs are subject to change without notice.