New Purchase With a Texas Home Loan

With mortgage rates at an all-time low, it’s never been more affordable to purchase a new home. With the abundant supply of homes on the market, now is a great time to explore all the Texas home loans that make it possible for you to own the home of your dreams. At AMCAP, we’ll show you just how easy it is. There’s a wide range of loan options available, and we’ll work with you to find the one that meets your unique situation and needs.

Seven Ways to Qualify for a Texas Home Loan

There are currently several Texas home loan types available for buyers:

FHA Mortgage Loans

insured by the Federal Housing Administration under the jurisdiction of HUD (Housing and Urban Development).

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VA Mortgage Loans

a 100% loan program specifically designed for men and women who’ve served in the military, along with their eligible spouse.

Conventional Loans

that, despite not being insured or extended by the federal government, still conform to Freddie Mac and Fannie Mae underwriting guidelines.

Conforming Loans

that meet certain guidelines – especially the size of the loan – set forth by Freddie Mac and Fannie Mae.

Non-Conforming Loans

offered to borrowers who do not qualify under conforming loan rules. These loans do not meet the criteria set by Freddie Mac, Fannie Mae, or Ginnie Mae, and they may include additional upfront fees and insurance requirements.

Non-Qualified Mortgages (Non-QMs)

that do not conform to the guidelines of conventional Texas home loans. They also have their own set of eligibility requirements and procedures.

USDA Mortgage Loans

offering 100% financing to rural property owners or borrowers interested in buying a home outside the city limits. These loans carry the most stringent rules of all available Texas home loans.

  1. FHA Mortgage Loans, insured by the Federal Housing Administration under the jurisdiction of HUD (Housing and Urban Development).
  2. VA Mortgage Loans, a 100% loan program specifically designed for men and women who’ve served in the military, along with their eligible spouse.
  3. Conventional Loans that, despite not being insured or extended by the federal government, still conform to Freddie Mac and Fannie Mae underwriting guidelines.
  4. Conforming Loans that meet certain guidelines – especially the size of the loan – set forth by Freddie Mac and Fannie Mae.
  5. Non-Conforming Loans, offered to borrowers who do not qualify under conforming loan rules. These loans do not meet the criteria set by Freddie Mac, Fannie Mae, or Ginnie Mae, and they may include additional upfront fees and insurance requirements.
  6. Non-Qualified Mortgages (Non-QMs) that do not conform to the guidelines of conventional Texas home loans. They also have their own set of eligibility requirements and procedures.
  7. USDA Mortgage Loans, offering 100% financing to rural property owners or borrowers interested in buying a home outside the city limits. These loans carry the most stringent rules of all available Texas home loans.

Each of these mortgage programs are available for new home purchase loans in Texas. Though they may appear to offer similar terms, they each have specific and distinct eligibility requirements and rules. But don’t let that confuse you. The experienced team at AMCAP can help guide you to the loan that is right for you. Voted the best mortgage lender in Texas, AMCAP is ready to show you just how easy a new home purchase can be.

Let’s Get Moving on Your Texas Home Loan

Move one step closer to your dream of owning a home by getting pre-qualified for a loan. Pre-qualification lets you know just how much you can borrow. For more information on Texas home loans, or how to qualify for a mortgage, call us today at 281-860-2533, or fill out the form.

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