Mortgage Lenders in Richmond, TX
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About Rock Mortgage in Richmond, TX
Rock Mortgage is your trusted source for purchase and refinance loans in Richmond, Texas, and surrounding areas. Richmond, a small city of about 13,000 residents, is nestled on the Brazos River in the Houston Metro area. As your local mortgage lenders, we specialize in helping homeowners and new buyers throughout Fort Bend County and beyond.
Why Use Rock Mortgage in Richmond, TX
Richmond, Texas, provides the best of both worlds for residents of the Houston area. You can escape the hustle and bustle in this serene yet convenient ranch town just 30 minutes from downtown. If you’re interested in purchasing a home in Fort Bend County, consider the mortgage company known for building community connections. Rock Mortgage removes the stress from the homebuying process so you have a seamless experience whether it’s your first or fiftieth real estate transaction. You’ll immediately see why we have outstanding customer service ratings across the board.
Home Loans in Richmond, TX
With a wide range of mortgage options, Rock Mortgage makes it easy to find the right home loan for your needs. We even have non-traditional loan programs, so put us at the top of your list if you have credit challenges or other factors that make it difficult to qualify for financing. Our products include:
- FHA loans backed by the federal government with low down payments and interest rates, available for both first-time home buyers and those who have purchased in the past.
- VA loans, offering zero down payment mortgages for qualifying veterans, service members, and family members.
- Conventional loans with down payments as low as 3%.
- Jumbo loans that exceed the limit for conventional mortgages, which is $647,200 for 2022 in most parts of the U.S. The federal government updates these limits each year.
- Traditional and cash-out refinance loans to lower your rate and take advantage of your home equity. You can use the funds you borrow to remodel your home, pay off high-interest debt, cover unexpected expenses, or any other financial needs.
Our loan specialists will work with you to find the best home mortgage for your needs.
First Time Home Buyers in Houston May Not Need a Significant Down Payment
A down payment of 20%, or one-fifth of the total purchase price, is often recommended as appropriate for first-time home buyers. Even with Houston home prices being below the national average, this can be an unattainable goal. The good news is, in most cases, a 20% down payment is not necessary to secure a mortgage. Depending on the loan you choose, you may only need to make a down payment of up to 3.5%. With some mortgage products, there is no down payment required at all.
While this makes mortgages much more attainable for people of modest means, there is a tradeoff involved. First-time home buyers Houston who make a low down payment typically have to pay mortgage insurance as part of their monthly mortgage payment. This is separate from the homeowner's
policy that you have to obtain to secure your mortgage, protecting you from damage to your property. You must factor both the mortgage insurance and the homeowner's insurance premium into your monthly mortgage payment when determining whether you can afford it.
Find Out What Our Richmond, TX, Clients Have To Say About Our First Time Buyers Loan Programs
Hottest Richmond, TX, Neighborhoods
The data website Neighborhood Scout gathered information about how fast neighborhoods in Richmond have appreciated in terms of home prices since 2000. Historically, homes closer to Sugar Land and Houston have a higher value, likely because of the ease of the commute to the downtown areas of both cities. Currently, you’ll find the costliest properties in Cumings and Jones Drive, with the most affordable homes around Jackson Street and Harpers Drive. Based on the resource’s research, these are some of the hottest housing areas in the city, listed from slowest to fastest home value appreciation:
- The Sansbury Boulevard area.
- Jackson Street.
- New Territory.
- The Pitts Road area.
- Pecan Grove.
- City Center.
- Owens Road.
- Jones Drive and surrounding areas.
Visit Rock Mortgage Today
We’ll be happy to help you finance your home in the Houston metro area. The Rock Mortgage office is conveniently located on Memorial Drive in Houston, making it easy to access from both the Katy Freeway and the Houston Tollway. Reach out today to schedule your conversation with our expert Richmond, TX, mortgage lenders.
A Mortgage Can Be Used for More Than Buying Your First Home
You do not necessarily have to buy an existing home to get a mortgage. For example, there are also loan products available to fund the purchase of land and the construction of your own custom home.
You May Qualify for First Time Home Buyer Benefits Even if You Have Owned a Home Before
The U.S. Department of Housing and Urban Development sets several conditions for first-time buyer status. If you meet any of the requirements, you qualify for benefits even if you have owned a home before. For example, if you have owned a home before but your spouse has not, or you have only owned a home with a spouse from whom you are now divorced. You may also qualify for first-time home buyer advantages if you have not owned a principal residence for the past three years.
Our goal at Rock Mortgage is to make the process of purchasing a home as stress-free as possible through constant communication and a customer-first approach. It is our privilege to help you finance the purchase of your first home. Contact us to start your application.