Mortgage Lenders in Sugar Land, TX
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The Mortgage Lenders That Finds Ideal Home Loan Solutions in Sugar Land, TX
Rock Mortgage in Sugar Land, TX, is the go-to mortgage lender for aspiring homebuyers in and around the county. While we proudly serve buyers from all backgrounds and in various situations, we are particularly proud of our ability to get first-time home buyers into their dream homes with affordable and low-risk mortgages. We use our more than 20 years of experience and in-depth knowledge of loan products to guide individuals, couples, and families to the type of financing they need to take the next step in their lives.
Approximately 20 miles southwest of Houston, Sugar Land is a flourishing suburb of the larger city. Characterized by safe neighborhoods, great school districts, numerous amenities, and outstanding civic organizations, Sugar Land is an ideal place to raise a family. It is also a great place to begin or take one’s career. For these reasons and then some, the Sugar Land housing market is competitive.
Some of the neighborhoods within Sugar Land TX that are great to locate are: Aliana, First Colony, Telfair, New Territory, Riverstone, Sweetwater, Avalon, Greatwood, Sienna Plantation, Imperial Sugar Land, Venetian Estates, Canyon Gate, Colony Lakes, Covington Woods, Glen Laurel, Meadows Place, Old Orchard, Orchard Lakes, Sugar Creek, Sugar Mill, Waterside Estates, and Summerfield
Suppose you wish to relocate to the area or somewhere else within it, partner with mortgage lenders who have the products you need to make your future goals a reality. Our mortgage lenders in Sugar Land, TX, have those loan products.
In addition to being able to customize a loan for you, we offer the following:
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 Sugar Land, Texas, Clients Have To Say About Our Mortgage Lenders
Services That We offer in Sugar Land, Texas
The mortgage lenders at Rock Mortgage originate loans for applicants of varying financial backgrounds and with differing goals. We are just as happy to produce JUMBO loans for higher-end buyers as we are to originate FHA loans for first-time homebuyers with moderate income. Our goal is to help Sugar Land residents move forward with their lives by getting them into their dream homes. We accomplish this goal every day by offering the following loan products.
FHA Loans in Sugar Land, Texas
At the start of the Great Depression, the Federal Housing Administration developed the basis for FHA loans in response to the widespread mortgage loan defaults. The foundation prevails, and now homeowners who would otherwise not have access to mortgage loans can obtain affordable financing through an FHA loan. These loans require low down payments, have lenient credit requirements, and boast competitive rates. Though designed for first-time homebuyers, they can help lower-income, and bad-credit applicants obtain second mortgages.
VA Loans in Sugar Land, Texas
Our mortgage lenders in Sugar Land, TX, are proud to assist the men and women who served our country move onto the next stage of their lives. Whether you are currently active duty, an honorably discharged veteran, or a qualified military spouse, we are happy to advise you of what you need to do to get the ball rolling on your VA home loan application. VA home loans come with several benefits over other types of financing, including zero down payment requirement and no need for private mortgage insurance.
JUMBO Loans in Sugar Land, Texas
Providing first-time home buyers tips and loans is not the extent of what we do. We also finance individuals who wish to upgrade to more lavish dwellings or buy in more elite neighborhoods. However, financing a higher-priced home is easier said than done. The Federal Housing Finance Agency has conforming loan limits, which hover between $500,000 and $700,000, depending on where you plan to buy. If you need to finance larger amounts, you may need a JUMBO loan. We can help you with that.
Texas Cash-Out Refinance Loans in Sugar Land, Texas
A cash-out refinance crosses between a traditional refinanced mortgage and an equity loan. It’s an increasingly popular way for Americans to quickly access large sums of money by withdrawing on their homes' equity. You can withdraw up to 80% of your home’s equity per Texas law each year.
First Time Home Buyers Loans in Sugar Land, Texas
Our mortgage lenders in Sugar Land, TX, have a particular soft spot for first-time homebuyers. Too many mortgage lenders approve first-time buyers for amounts that are not affordable once you factor in all the discretionary expenses, including the costs of eating out, entertainment, clothing, medical and veterinary bills, and tax obligations, to name a few. At Rock Mortgage, we want our borrowers to enjoy homeownership, not stress how much it costs them. Part of our services includes offering first time home buyers tips and advice and educating buyers on the risks of borrowing more than they can realistically afford. We hope that, in doing so, we can prevent borrowers from experiencing severe financial strain and, subsequently, foreclosure.
Frequently Asked Questions About Mortgage Lenders in Sugar Land, TX
Purchasing a home, especially for the first time, can be an overwhelming and confusing experience. We strive to make it easier on you by addressing borrowers’ most frequently asked questions.
Is there a best loan product for first-time homebuyers in Sugar Land, Texas?
Which loan product is best for you depends largely on your credit score, the value of your assets — including your bank account — and your income. However, if you can qualify for an FHA benefit, it may offer the most benefits unless, that is, you are eligible for a VA home loan.
Can you buy a home with less than a 20% down payment?
The 20% down payment rule that people commonly cite is rarely applicable. You can obtain a VA home loan with a 0% down payment, an FHA loan with a low down payment of 3.5%, and a conventional can with a down payment as low as 5%. Though a higher down payment can help you appear less risky to borrowers and access a higher loan amount, it is rarely necessary.
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.