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Pre-Approvals
Apply today and
we will provide you with a Pre-Approval Certificate. Then you can
shop for your dream home and:
- You know exactly
what you can afford.
- You can shop with
confidence.
- The seller will
take you offer more seriously knowing you are virtually a cash
buyer.
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103% Home
Loan
- Financing
opportunity for Borrowers with excellent credit but little
money for down payment.
- Zero Down plus
finance 3% of your closing costs into the loan.
- Sellers may also
contribute an additional 3% towards your closing costs.
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100% Home
Loan
- Zero Down - buy
your home with NO money down
- Little or no cash
up-front - 100% of the closing costs can come from a gift or
other source
- Less income
required - expanded debt ratios makes it easier to
qualify.
- Excellent credit
history required.
- Fixed rate
financing - enjoy the security of knowing what your monthly
payments will be for the life of the loan.
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97% Home
Loan
Even with
limited or spotty credit history you can reach your dream of
homeownership:
- As little as a
favorable 12-month rental history required.
- An affordable 3%
down payment - only 1% needs to be from your own funds and the
balance can come from a gift or other sources.
- 100% of the
closing costs can come from a gift or other sources.
- Less income
required - expanded debt ratios make it easier to
qualify.
- Fixed rate
financing - enjoy the security of knowing what your monthly
payment will be for the life of the
loan.
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FHA Home
Loans
FHA program
opens up opportunities that conventional mortgages do not
offer:
- Expanded Debt
Ratios to 29%/41%
- Non-traditional
credit history is considered
- Expanded credit
criteria
- All of the down
payment may be gifted
- Seller may
contribute up to 6% toward the closing costs.
- Non-occupant
cosigners are allowed.
- 401-k loans are
not counted in the debt ratios.
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VA Home Loans
Veterans
Administration guaranteed home
loans:
- 100% financing
available for veterans.
- Nontraditional
credit history is considered
- Expanded credit
criteria
- Seller may
contribute up to 6% toward the closing costs.
- Veteran must have
certificate of eligibility from the Veterans
Administration
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High Ratio Fixed Rate
Loans
Allows
borrowers with excellent credit but limited income to buy more
house:
- Allows for fifty
percent (50%) of your income to be used towards the housing
debt when traditional lending guidelines allow about thirty
percent of your gross monthly income to be used towards the
housing debt
- Available with as
little as 5% cash investment
- Affords the
security of a fixed payment
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Fixed Rate
Mortgages
Is the right
option for you if:
- You want the
certainty of a fixed principal and interest payment
- Are on a fixed or
tight budget
- Believe interest
rates will or may go up
- Plan on staying in
the same home for a long period of
time
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Adjustable Rate
Mortgages
This is the
right option for you if:
- You plan on moving
or refinancing within seven (7) years of the mortgage
transaction.
- Are confident your
income will increase
- Believe interest
rates will stay the same or go
down
Some of the
many benefits of adjustable loans include the following:
- You can save
thousands in monthly payments over the first few years
- No prepayment
penalty
- Your payments are
amortized over thirty years
- With the lower
interest rate it may be easier for you to qualify for a
loan
- The interest rate
caps help keep payments within reach if and when the rate
adjusts upward
- The rate is
typically limited to a one or two percent (1-2.00%) change in
either direction per adjustment and a maximum of six percent
(6.0%) over the life of the loan
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No - Cost Equity Lines
($35,000.00 and up)
- Prime rate for
life! The rate is indexed to Prime rate as posted in the Wall
Street Journal the first calendar day of each month.
- 90% maximum
combined financing (90% of the value of the house, including
the first mortgage.)
- No annual
fee
- Excellent credit
required
- We offer a full
line of equity lines and second mortgages to meet almost all
needs.
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Refinance, including refinance
with Cash-Out
Many homeowners
have found ways to increase their monthly cash flow or obtain
additional moneys for home improvement by refinancing their current
mortgage:
- Payoff high
interest rate credit cards
- Have additional
interest deductions at tax time
- Get cash for
college or weddings!
- Fixed rate or
adjustable rate programs available
- 30,25,20,15 or
10-year terms
- Talk with one of
our experts for a free mortgage
analysis!
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Lot Loans
- Allows you to
secure today's price on land even if you prefer to build at a
much later date
- Up to 80%
financing
- Monthly payments
spread out over 15 years
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Construction
Loans
- Up to 95%
financing
- Equity in the land
(if customer owns it) can be used for down payment and closing
costs
- One-time closing
keeps costs low and means the rate stays the same during and
after construction
- Available in fixed
or adjustable rates
- 6,9 or 12 month
construction periods to choose
from
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Home Improvement
Loans
- Purchase your home
and finance the improvements in one loan.
- Programs with up
to 125% of the appraised value.
- Conventional rates
available.
- FHA 203k home
improvement loans also.
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Land Contract Buyouts and
Lease Purchases
- Up to 100%
loan-to-value
- Appraised value is
used to determine the loan-to-value if you owner occupied
property more than 12 months.
- Unseasoned land
contract buyouts are also
available.
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Specialty Income and Credit
Products
- Self-Employed
- Stated
Income
- No Income
Verification Loans
- No Ratios
- No Cost
Loans
- No Documentation
Loans
- No Asset
Loans
- Debt Ratios up to
60%
- Plus More
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Bridge
Loans
- Use the equity in
your current home to buy or build your new one
- Interest only
payments for six months
- Low, low closing
costs!
- Quick
closings!
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Jumbo
Mortgages
- Jumbo mortgages
are categorized as loans in excess of $275,000.00 for
single-family residences
- Fixed rate loans
always vary in price between conforming and jumbo loan amounts
although some adjustable rate mortgages have much higher
limits prior to altering the pricing
- Available up to 2
million dollars
- Construction,
purchase, refinance or refinance with cash-out O.K.
- We are luxury home
specialists!
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Investment
Property
- 1,2,3 or 4 unit
properties
- Up to 95%
financing available.
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Property
Types
- Condominiums
- Commercially Zoned
Residential Property
- Rural
Properties
- Manufactured
Housing
- Mobile
Homes
- Mixed Use
Property
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Multifamily
- 5 plus
units
- Our Commercial
Division has over 19 years in multi-family lending!
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Extended Locks
- Preserve today's
rates up to 60 days.
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Zero Closing Cost
Loans
- 1st TexasLending
pays all closing costs except prepaids.
- No Title
Costs.
- No Appraisal
Cost.
- No Underwriting
Fee.
- No Document
Preparation Fee.
- No Fees of any
kind.
- No Pre-Payment
Penalty.
- Loans for Purchase
or Refinance
- 15 to 30 year
Owner Occupied Fixed & Adjustable Rate Loans
- Minimum loan
amount
$75,000
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125% Loan
to Value 2nd Mortgages
- Debt
Consolidation
- Can be used for
Home Improvements
- A portion of the
interest may be tax deductible (consultant your
accountant)
- 15, 20 and 25-year
amortizations.
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