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Texas Zero Down Home Loan

Increasing competition in the mortgage industry has resulted in a variety of zero down mortgage programs in Texas. It is often possible to get a zero down mortgage if you have good credit.

Zero down programs allow you to buy your home now, instead of waiting to save enough for a down payment.

There are several options available for buying a home with zero down.

VA and FHA loans are frequently possible with zero or small down payment.
Some FannieMae and Freddie Mac loans are available with 100% LTV. Ask your loan officer for details on these programs.
Conventional loans at 100% are often available. PMI insurance is often required for these loans.
Community grant programs are sometimes available to cover all or part of your down payment.
Get an 80 percent first loan and a 20 second (piggy-back or 80/20) loan. This program does not require PMI, and all interest is tax deductible.
With a loan of less than 100%, it may be possible to get the seller to contribute towards the ballance needed.

Some zero down programs allow you to borrow 3 to 6 percent of the purchase price to pay your closing costs. Ask your loan officer if you qualify for any of these programs.

PMI is an additional charge you pay if you make less than a 20 percent down payment. This insurance policy protects the lender in the event of a payment default or foreclosure, and the loan is not paid off in full. The PMI payment ranges from 0.19 percent for a fixed rate loan with a 15 percent down payment; up to 1.09 percent with zero down; and can be 1.34 percent or more on a zero down variable rate mortgage.

At Texas Capital Mortage we have many zero down and low down payment mortgage programs available. Please call or email for a no obligation consultation.

Texas Capital Mortgage - 28 FM 1960 West - Houston, TX 77090
Office Phone: 1- 866-433-0500 toll free Fax: 832-565-1656

Texas Mortgage Broker License #65252.

We provide service for the entire state of Texas.

If you are looking for a houston mortgage, houston refinance, or a houston mortgage broker, then you have come to the right place! We are one of the top Texas lenders.