Smart Mortgage Alternatives in Erath County

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Even though interest rates are at a surprising low, some potential home owners still dont have the means to take out a mortgage loan. Most loan standards these days require a sterling credit report as well as 20 percent of the home’s value as a down payment.

It’s easy to see why lenders take these precautions when evaluating an applicant for a mortgage, but the restrictions on home loans are not always practical or fair. Even though Texas, as a state, was not hit as hard by the recent economic tribulations as other states, some potential home owners are still being disenfranchised by constrictive and unrealistic expectations. Fortunately, thanks to some alternative mortgage methods, there is still hope for those of you who are still looking to purchase a home this year.

The first of these methods is only applicable to those who are or have veterans in their family. If you or your loved ones are a returning veteran, you’ll be glad to hear that you are eligible for a special type of loan saved exclusively for veterans. VA loans, as they are commonly known, is just one of the many ways America says thank you to those who risked everything to defend the freedom we all enjoy. VA loans, in addition to having low and streamlined interest rates, come with a number of perks that the real estate savvy veteran might like to take advantage of. One of such perks allows your family to find a new home and move in without even paying a down payment!

There are other mortgage alternatives for non-veterans too. Mortgage assistance programs are ways for those with low credit scores — or those without the means to make a down payment — to find the home they’ve always wanted. Many of such mortgage assistance programs are currently running all across urban and rural America, waiting for keen real estate shoppers to take advantage of them. Different programs have different regulations and eligibility, so smart shoppers might consider working with a real estate agent to ensure the best chances of success.

To get the ball rolling on traditional or alternative mortgage, give us a call, and we’ll find the perfect piece of Stepehenville real estate for you.

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“Jamie Stockstill held my hand through the entire process. Being a first time home buyer I had a million questions but she was always there, no matter what time of day, to answer my calls or texts. I always felt like she was working for my best interest. I will recommend her to anyone I come across looking to buy or sell.”