Dream It. Own It.
Aside from the traditional mortgage options, Texas Bay now offers two new options exclusive to our members:
Quick Close Mortgage
Close in as little as 15 business days! This is exciting for members who either are anxious to get into a home or need to close fast. And as is the Texas Bay way, we’ll walk you through the process, taking as much stress out of it as we can. To qualify:
- Primary residence only
- Single family properties only
- 740+ credit score
- Debt-to-income ratio not to exceed 35%
- Other criteria may apply
First Time Home Buyers
We offer to finance up to 97% of the purchase price of your new home. That’s right! You’ll can put down as little as 3% versus the normal 20% requirement. Some restrictions apply.
Of course, we still offer the normal mortgage options:
Fixed-rate mortgages
With a fixed-rate mortgage, the interest rate stays the same throughout the life of the loan. This makes budgeting easier because your monthly payment will remain the same. Fixed-rate mortgages are available in various term lengths, ranging from 10 to 30 years.
Adjustable-rate mortgages
An adjustable-rate mortgage, or ARM, has an interest rate that can change over time. Usually, the rate is fixed for a certain period, such as five or ten years, and then it adjusts based on market conditions. ARMs can be a good choice if you plan on selling the home before the rate adjusts.
FHA loans
FHA loans are insured by the Federal Housing Administration and offer low down payment options for homebuyers. This can make it easier for first-time homebuyers to purchase a home in Houston.
VA loans
VA loans are available to active-duty military members, veterans, and their families. These loans offer low or no down payment options and competitive interest rates.
Jumbo loans: Jumbo loans are available for those who need to borrow more than the conforming loan limit in their area. In Houston, the conforming loan limit is $647,200 for 2023.
For more information, visit our Mortgage Page, Contact Us, Make an Appointment, or call (713) 352-0344 to speak with a Mortgage Loan Officer.
