Rocky Mountain Mortgage Company | Proud to Offer First Time Home Buyer Programs
If you’re a first-time home buyer, then you can apply for special, low-interest mortgage loan programs through Rocky Mountain Mortgage Company. We’re proud to provide these programs as they offer little to no down payment. These programs are also fit to help home buyers secure mortgages when they don’t have the best credit scores. Rocky Mountain Mortgage Company is fully equipped with the professional lenders you need in order to help you achieve desirable rates and set a flexible mortgage.
How to Know if You Are Eligible for a First Time Home Buyer Program
There are specific factors that come into play when it comes to qualifying for entrance into a home buyer program. Rocky Mountain Mortgage Company is here to highlight your key features in terms of finances and credit to help you achieve a new home. The eligibility criterion includes:
- A minimum credit score of 620
- Homebuyers must meet income and loan requirements
- The property must not exceed the purchase price limits
- The property must be a single-family home or single-unit condominium
- Some manufactured housing or duplexes allowed
Specific Types of First Time Home Buyer Programs
There are a variety of programs that offer assistance to first time home buyers. These programs are offered to best suit the home buyer’s present financial positions. Some of the programs that are offered include:
My First Texas Home Loan
This program offers 30 years’ worth of low fixed interest rate mortgages for first-time home buyers. The program includes down payment and closing cost assistance of up to 5% of the mortgage amount as a no-interest, no-monthly payment second lien.
Mortgages insured by the Federal Housing Agency (FHA) offer relaxed qualification requirements, especially when it comes down to down payment and credit score. You can qualify for an FHA home loan with a credit score as low as 500 with a necessary 10% down payment.
Choose Rocky Mountain Mortgage Company to Achieve An Ideal Home Loan Program
Rocky Mountain Mortgage Company is experienced in helping home buyers qualify for loan programs that will best suit their mortgage plans. You can contact our mortgage lenders at (915) 593-3111 or by sending a message to our online Customer Service Center for more information.
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We have helped more than 20,000 El Paso families realize their dream of HOMEOWNERSHIP.
We have helped more than 20,000 El Paso families realize their dream of HOME OWNERSHIP.