Our clients choose from a variety of loan programs, including your choice of conventional, FHA, or VA loans. Dallas and Fort Worth-area clients trust DFW Mortgage Advisors to help them to make the best choice for their property purchase. DFW Mortgage Advisors has the tools to connect you with your best property financing option.
Pre-qualification makes buying easier
Each loan program has specific terms to be discussed after your initial application. Most begin by analyzing your debt-to-income ratio to make sure you can afford the monthly payments associated with the terms of that particular program. Our loan officers will assess your details and match them with the program that best fits your current status and long-term goals. Our goal is to find the best option with the lowest mortgage interest rate available for each client, based on their specific situation.
A quick process...
Once your initial consultation and application are complete, the journey to homeownership through the appropriate mortgage program is relatively quick. Our mortgage brokers work with our clients and lenders to streamline the mortgage process.
Real estate markets move quickly, and potential buyers don’t know how long a property may be available. Take the time to research your budget and obtain program pre-approval so that you’re ready to make a confident offer when you find the perfect property.
Your Mortgage Options
30 year fixed mortgage
A 30-year fixed-rate mortgage is the most traditional mortgage program. These mortgages have constant interest rates, and consistent monthly payment amounts that do not fluctuate. A 30-year fixed mortgage may be a good option for potential buyers who plan to live in their home for at least seven years.
15 year fixed mortgage
Similar to a 30-year fixed-rate mortgage, a 15-year mortgage has the same benefits with the addition of a lower interest rate. Those choosing this mortgage program are committed to a higher monthly payment but will pay off the loan in half the time.
Adjustable rate mortgage
Adjustable rate mortgage (ARM) interest rates will change over the life of the loan. The initial rate may be lower, making this program a good option for potential buyers who plan to only own a property for a short time. An adjustable-rate mortgage is also an option when potential buyers consider other programs' interest rates too high.
FHA-approved lenders in Texas provide mortgage products insured by the Federal Housing Administration. FHA support lowers lender risk if the borrower goes into default. These loans often have low down payment and closing cost options.
VA Loans: Dallas/Fort Worth
If you are a current or prior United State service member you may be eligible for VA loans. Dallas and Fort Worth-area veterans can take advantage of this mortgage program to become property owners during and after service. The U.S. Department of Veterans Affairs (VA) guarantees these loans, issued by a variety of lenders.
Jumbo loans are mortgage programs that finance the purchase of property exceeding the limit of conventional conforming loans. These loans carry higher rates due to lenders taking on higher risks.
If you are over 62, you may qualify for a reverse mortgage. HECM mortgages are insured by the Federal Housing Administration and allow homeowners to convert home equity to cash flow without monthly payments. A reverse mortgage uses home equity to pay off your mortgage. Any leftover money converts to cash flow to the homeowner.