Mortgage Solutions for the Rio Grande Valley
Up To 100% Financing
Yes, this program still exists if you buy a home in approved areas. We use the USDA mortgage loan to offer up to 100% financing.
First Time Home Buyer
It’s easy to escape the renting lifestyle when you have a mortgage professional create a plan.
You can use several different mortgage options for a 2nd home or vacation home. Let’s chat about the details.
Fixer Upper Program
Use government loan programs to purchase a home and finance the repairs into the mortgage so you get to keep your cash.
Ranch & Land
Buy a piece of raw land or an existing ranch with a Rio Grande Valley land loan.
Bad Credit Solutions
Our program for renters with bad credit pairs you up with a legit credit restoration company so you can buy a house within 3-6 months.
We are proud to serve active duty and military veterans and help them become homeowners with the VA mortgage program.
Did your kids all leave? We have mortgage options for people down sizing too.
Move Up Buyers
We have specific programs for when it’s time to sell your house and get an upgraded home.
McAllen Home Loan Options for Everyone
You want to own a home in McAllen and we make it easy with over 25 loan programs to choose from. Most people can qualify for a mortgage or if you need help we can pair you with a credit restoration company to get your credit improved within 60-180 days so you can become a homeowner in the Rio Grande Valley.
Frequently Asked McAllen Mortgage Questions
What Does a Loan Officer Review?
Texas loan officers review four areas when you apply for a home loan – credit, income, assets, and debt. Watch this one minute video for a short explanation on what McAllen loan officers review when applying for a mortgage.
Who Should Refinance a Home Loan?
There are four homeowners who should consider refinancing in McAllen. First, if interest rates have decreased since you purchased. Second, someone that wants to pull cash from their home equity. Next, an owner can refinance to pay off other debts with the equity. Finally, a McAllen homeowner that wants to make home improvements.
What Credit Score Do I Need For a Mortgage?
Each McAllen home loan program has different credit score requirements. The best thing is to have a 10 minute phone consultation to figure out which mortgage is best for you. We have loans available that most people can qualify or we can refer you to the best credit restoration company to improve your credit score. Here’s 5 ways to save up for a down payment and buy a McAllen home.
How Long Does It Take to Buy a House in McAllen?
It takes about 30-45 days to buy a home for sale in McAllen. The first step is get pre-approved for a home loan so you can feel confident touring homes knowing you are capable of writing an offer when you find the perfect place.
What is Included in a McAllen Mortgage Payment?
Economic Conditions in McAllen and Rio Grande Valley
Since 2010, the economic conditions in McAllen and Rio Grande Valley have improved continually with nonfarm payroll jobs increasing with a decent percentage annually. This has contributed significantly to the demand for homes as more and more people become economically empowered and their disposable incomes increase.
Looking at the sales statistics from loan companies in McAllen, TX and independent research firms for new and existing homes including town homes, condominiums, and single-family homes, it is clear that a majority of the population are into home purchases.
Most American families, those in McAllen included view the purchase of a home as one of the most reasonable investments. Also, the process of buying a new home invaluably involves mortgage loan application. The mortgage industry in Texas and nationally has undergone comprehensive reforms in the recent past and thanks to the global financial meltdown of 2008, credit guidelines have become more strict.
The Pathway to Homeownership in McAllen, Texas
If you want to buy a home in McAllen or Rio Grande Valley, the first important step is to find real estate agents, best mortgage companies, home inspectors, as well as other professionals that you can fully trust. These experts will make the journey to owning your home a joyous experience.
As professionals who have been helping everyday people just like you to accomplish their dreams of homeownership, we have seen firsthand how would-be homeowners go through stressful experiences trying to provide the necessary information to secure financing. Inasmuch as going it out on your own can superficially create an impression of lesser costs, the imperfections and oversights in the process can prove costly later on. This is why we make a special invitation, as the best mortgage lender, to help you in the various steps and procedures before inking that deal.
We advocate for your best interests by listening to your needs and helping you better understand the various mortgage financing options available in the market. Whether you are a first time homebuyer or looking for an opportunity to refinance, we have programs that can suit you.
Interestingly, we have on various occasions assisted individuals with less-than-perfect credit, secure loans in McAllen, TX fast and easy.
What Our Loan Process Entails
At McAllen Home Mortgage, we believe in a one-on-one relationship with our customers as we walk them through the homeownership and mortgage process. This is something you will most likely not find with other home mortgage companies, but at McAllen Home Mortgage, that is simply how we operate. Our home loan process is as follows:
Step 1 – Pre-Approval
This is the beginning of our long friendship with you. At the pre-approval stage, we give eligible customers the assurance of a mortgage even before they pick their preferred home. We do this by professionally verifying your ability to repay the home loan and after we review your supporting documents for assets, income and credit history, we give you the cash you require to close.
The moment we pre-approve you, you can have the peace of mind to start your house hunting with confidence and assurance.
Step 2 – Considering the Available Home Loan Options
This step involves a verification of your repayment ability by taking a closer look at your assets, credit history, and income. We go a step further into looking at the supporting documents and reviewing your eligibility based on our lending guidelines. When you are successful at this stage, our mortgage loan advisers will lock in an interest rate for you.
Step 3 – Home Loan Processing
As your loan application moves through our system, it tips a number of steps into motion. We verify your employment, assess the property value through a residential appraisal, and collect insurance information as well as other additional documentation. In all these processes, our home loan company McAllen, TX acts as your partner representing the best of your interest.
Step 4 – Mortgage Underwriting
Using the data that we have gathered including the documents and appraisal, underwriters then determine whether your home loan presents a level of risk that is acceptable and meets all the stipulated guidelines for the loan program. At this stage, your loan may also be approved, but with conditions which will have to be cleared through the collection of additional information or documentation from you.
Step 5 – Closing Documentation
This stage is closer home and your mortgage loan file is taken through a review for quality assurance purposes and thereafter the closing instructions are prepared. We also review the Tax Certificate and Homeowner’s Insurance before confirming the closing date and time. Lastly, we prepare the closing documents and send them over to the title company.
Step 6 – Home Loan Closing
Here, the title company representative, our mortgage loan officer and you, meet so as to sign and make the necessary copies of your home loan documentation. A check or wire transfer is then done to the title company for purposes of funding the loan. This is essentially the end of the process and you can go home smiling knowing that the process has been successful.
The mortgage loan servicing is usually one of the areas that some homeowners find a bit of difficulty especially with the keeping of the records and making timely payments. At McAllen Home Mortgage, we have taken it upon ourselves to handle the administration aspects of all your loans in Mission, TX and let you sit back and relax as you continue making your payments.
The good thing about our service is that it is customized, real and personal which means we shall walk with you and address you in the friendliest manner possible as we provide you with a listening ear.
What Makes McAllen Home Mortgage Outstanding
We keep on receiving calls from first time homeowners and people looking to refinance. Most of these people are referrals, which means, our customized relationship with our clients is bearing fruits. Among the things that make us the preferred mortgage company McAllen, TX includes:
As the best home lender, we pride ourselves in offering superior service that leaves our customers satisfied. We all know from marketing research that a satisfied customer goes telling others of how good a particular service is and this is our cornerstone in getting lots of referrals. We not only satisfy their mortgage needs, but also exceed their expectations.
Cutting-Edge Home Loan Origination Technology
When offering loans in Edinburg, TX and the other areas, we leverage technology in serving our customers and this enables us to close their loans quickly and save them money as well. Our mortgage calculators, processing software, and underwriting systems are well wired to speed up your mortgage process while giving you the best terms.
Quality Mortgage Services
At McAllen Home Mortgage, our staffs efficiently expedite the entire transaction from mortgage processing all the way to loan closing and funding. We keep our customers informed in every step because we are committed to building long-term, rewarding customer relationships. Through quality assurance systems, we always vet and review our mortgage services.
Rapid Response to New Opportunities and Challenges
The mortgage market not only in Texas, but the entire country is very dynamic and this gives rise to challenges and opportunities in varying measures. Our highly trained mortgage experts and innovative mortgage programs are flexible enough to ride over every challenge and capitalize on new opportunities as they arise. Through niche mortgage programs, we satisfy individual customer needs in a way that no other loan companies in Mission, TX can.
We welcome you to experience our dynamic mortgage loan options and unique mortgage advisory services which are a product of our more than 11 years of experience in the industry.