Texas home loan programs
We work only with wholesale lenders, and these are the loan programs we offer through them. We'll help you compare the ones that fit your goals and explain the trade-offs.
Conventional loans
Conventional loans aren't backed by a government agency. You can use one for a primary home, a second home, or an investment property.
A good fit if
- You have steady income and established credit
- You're buying a second home or a rental
- You want the option to remove mortgage insurance once you've built enough equity
Keep in mind
- With a smaller down payment, private mortgage insurance usually applies
FHA loans
FHA loans are insured by the Federal Housing Administration. Flexible credit guidelines and a lower minimum down payment than many conventional loans make them popular with first-time home buyers.
A good fit if
- You're buying your first home
- Your credit history is still growing
- You're working with a smaller down payment
Keep in mind
- FHA loans include mortgage insurance premiums
- The home must be your primary residence
Already have an FHA loan? An FHA streamline refinance can lower your rate with less paperwork.
Jumbo loans in Texas
Jumbo loans finance amounts above the conforming loan limit for your county, which is common for higher-priced homes in parts of Texas.
A good fit if
- Your loan amount is above the conforming limit
- You have strong credit and savings
Keep in mind
- Guidelines vary by lender and usually call for more documentation and reserves
DSCR loans for Texas rental properties
A DSCR (debt-service coverage ratio) loan qualifies you based on whether a property's rent covers its mortgage payment. Rental income can be documented with a lease, a rent roll, or a market rent estimate.
A good fit if
- You're buying a rental property
- You're refinancing or taking cash out of a rental you already own
- You don't want to use your personal income to qualify
- Your rental is a single-family home, a 2–4 unit property, or a short-term rental
Keep in mind
- Down payment and reserve requirements are usually higher than for a home you live in
- Credit and property-type rules vary by program
Construction-to-permanent loans
Building a home? We offer construction-to-permanent financing with a one-time or two-time close, and your loan officer stays with you through the construction draws.
A good fit if
- You're building on a lot you own or are buying
- You want one loan from construction through move-in, with a one-time close
Keep in mind
- Your builder, plans, and budget will need lender approval
- Funds are released in stages as work is inspected
Renovation loans: FHA 203(k) and conventional
Buy a home and finance repairs or upgrades in the same mortgage with an FHA 203(k) or a conventional renovation loan.
A good fit if
- You found the right location, but the home needs work
- You'd rather finance improvements than pay for them in cash
Keep in mind
- You'll need contractor bids, and the work is inspected as it's completed
Texas HELOC (home equity line of credit)
A Texas HELOC lets you borrow against your home's equity for remodeling, other large expenses, or bridge financing, while you keep your current first mortgage.
A good fit if
- You'd like to keep the rate on your current first mortgage
- You need access to funds over time rather than all at once
Keep in mind
- Home equity borrowing on a Texas homestead follows special rules in the Texas Constitution, and we'll explain how they apply to you
- HELOC rates are usually variable
Doctor loans (physician mortgages)
Doctor loans, also called physician loans or physician mortgages, are non-agency mortgages designed for medical professionals. Because they follow the lender's own guidelines instead of Fannie Mae and Freddie Mac rules, they can finance up to 100% of the home's value with no mortgage insurance.
A good fit if
- You're a medical professional buying a primary home or a second home
- You'd like a low or no down payment, without paying mortgage insurance
- Your student loans are in deferment or forbearance. They can be left out of your debt-to-income ratio.
- You're doing a rate-and-term refinance on a home you own
Keep in mind
- A minimum credit score of 680 applies
- Eligible professions and loan amounts depend on the program
Bank statement loans for self-employed borrowers
A bank statement loan qualifies you with your business or personal bank statements instead of tax returns. How many months of statements you need depends on the program. It's a non-QM (non-qualified mortgage) loan: it falls outside the federal qualified mortgage standards and follows the lender's own guidelines instead of Fannie Mae and Freddie Mac rules.
A good fit if
- You're self-employed or own a business
- Business write-offs make your tax returns show less income than your bank deposits do
Keep in mind
- Rates, down payment, and reserve requirements can be higher than for conventional loans
- Eligible property types and other guidelines vary by lender
2–4 unit homes: duplex, triplex, and fourplex
You can buy a property with two to four units and live in one of them. Rent from the other units can count toward qualifying, within each program's rules.
A good fit if
- You want rental income from the same property you live in
- You're buying with a conventional or FHA loan and will live in one of the units
- You're an investor buying a 2–4 unit rental. See DSCR loans.
Keep in mind
- Down payment, reserve, and rental income rules differ from those for single-family homes
- With an FHA loan, you must live in one of the units
Programs, guidelines, and availability change and vary by lender. All loans are subject to credit approval, underwriting, and property eligibility.
Let's look at your numbers together.
Call (817) 259-1972, schedule a consultation, or start your secure application when you're ready. Talking with us is free, and there's no credit check to get started.