Midland Texas First Time Home Buyer Loans
If you are a first time home buyer, you may be unsure of what your loan options are. However, there are multiple loan products out there that can help you finalize your first home purchase. When it comes to a mortgage loan, you want to have all the facts to ensure that you are getting the best possible mortgage terms.
Using an FHA Loan Makes Buying…
Midland Texas Home Loans
Conforming/Conventional Loans:
The criteria for these Midland home loans are established by Freddy Mac (FHLMC) and Fannie Mae (FNMA) every year in October according to mean home prices as well as income to debt ratio. The system of these loans is slightly complicated. Firstly, lending institutions or banks lend the money to the buyers provided the buyer meets t…
FHA Mortgage Loans in Texas
An FHA mortgage loan is a popular program for first time home buyers and those seeking a lower down payment option. An FHA loan is backed by the Federal Housing Administration against default, meaning if the loan doesn’t get paid by the borrower, the FHA pays the lender making it an attractive program for mortgage lenders. There are several available mortgage loan…
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Texas VA loans help veterans obtain a mortgage for the purchase of a home through private lenders. There are 15 to 30 year fixed rate loans that do not require a down payment. The amount a veteran can borrow is capped at $417,000.
Basics behind the Texas VA Loan Program
Venta Mortgage participates in the VA loan program and must follow specific guidelines laid out by the Veterans…
Odessa TX Mortgage Loans
If you are looking to purchase a home in Odessa you will first need to get pre-approved for a mortgage loan. Life is much easier if you get pre-approval before you start your search, as it will provide you with the opportunity to know you buying budget and have peace of mind. Obtaining an Odessa home loan is not as complicated as you would think. At Venta Mortgage w…
FHA Refinance vs. FHA Streamline Refinance
If you are seeking to refinance your mortgage loan, you may have come across information on FHA refinance, and seen FHA Streamline refinance. Although both programs are through the FHA, and both programs can lower your mortgage interest rate, and subsequently your monthly payments, there is a big difference between the two.
FHA Refinance
If you…
What is an FHA Loan?
There are many different types of home mortgage loans available to choose from, however FHA loans have greatly increased in popularity over the years, due to its easier qualification requirements, low down payment options and backing by the Federal Housing Administration.
FHA mortgage loans were designed to make home ownership easier to obtain for the general population.
What is a VA Mortgage Loan?
A VA mortgage loan is a home loan that is insured by the U.S. Department of Veterans Affairs, and funded by private lenders such as Banks and Mortgage Companies. VA loans are available to Veterans and active duty military members and was included in the GI Bill of Rights signed into law by Franklin D. Roosevelt in 1944 to provide Veterans and military the ability to…
Now is a great time to get a mortgage in Midland, TX.
If you are looking to purchase a home in the Midland, TX area, now is a good time. With home prices bottoming out in an average of $170,000 in March of 2011, we have seen a steady rise in home prices to reach an average of $218,000 at the start of November 2012. If you would like to take advantage of a good deal on your home price, now would…