Loan Programs

Texas Premier Mortgages Bank Statement mortgage program is the perfect option for any self-employed borrowers who do not have the tax documents to prove their ability to pay. We can offer up to 90% of your purchase price with 740 credit on personal and business bank statements. (minimum loan amount offered $150,000)

What is a Bank Statement Loan?
A Bank Statement loan is a home loan program designed for self-employed/ business owners. For qualification purposes, the lender uses the deposits made into the business owner’s account as the source of income for qualification purposes, instead of using the applicant’s tax returns.

Conventional loans are mortgage loans offered by non-government sponsored lenders. Conventional loans may be conforming and non-conforming and have terms and conditions that follow the guidelines set forth by Fannie Mae and Freddie Mac. These two stockholder-owned corporations purchase mortgage loans complying with the guidelines from mortgage lending institutions, packages the mortgages into securities and sell the securities to investors. By doing so, Fannie Mae and Freddie Mac, like Ginnie Mae, provide a continuous flow of affordable funds for home financing that results in the availability of mortgage credit homeowners. 

DSCR Loans allow borrowers to finance up to 20 properties by using prospective monthly rental income to qualify for the investment properties. The process is easy with limited paperwork allowing investors to purchase multiple properties without the limitations of proving income with a traditional conventional mortgage loan.

No Income Needed
No Employment Info Needed
Gift Funds Allowed – No Sourcing of Deposits (Series 1 Special)
Minimum 20%, 25%, 30% Down Payment Available

FHA loans are loans that are insured against default by the Federal Housing Administration (FHA).  This great loan program makes it simple for those who may not qualify with other programs. FHA typically offers lower interest rates, lower income requirements, and does not hold as much weight to your credit score compared to other loan programs also know as conventional loans.

FHA loans are an attractive option, especially for first-time homeowners:

• Generally easier to qualify for than conventional loans.
• New 2023 FHA Loan Limit in Texas $472,030
• Lower down payment requirements.
• Cannot exceed statutory loan limits as set by each county.
• HUD 203(B) MORTGAGE INSURANCE

 A Jumbo loan is any home loan that exceeds a specific loan amount called the conforming loan limit for each state. Currently, the conforming loan limit for a single-family home in Texas is $726,200 effective November 2022. A jumbo, or non-conforming, loan provides financing for loan amounts higher than the maximum conforming limits set by Fannie Mae and Freddie Mac. It may be a good choice if you have a higher property value and can manage larger monthly mortgage payments. Jumbo loans are available for purchase and refinance loans including cash-out refinance options. 

What is a VA Loan?
VA loans are a special type of home mortgage designed to provide long-term home financing to active military members and veterans. In many instances, their interest rates can be better than other conventional loans. These home loans are guaranteed by the U.S. Department of Veterans Affairs and are offered by participating approved lenders like Texas Premier Mortgage. VA loans allow eligible veterans and active military personnel to realize their homeownership dreams and help existing VA homeowners with money-saving refinance options. The VA loan is a benefit earned by the veteran, for serving in the United States military. With the protection guarantee by the VA, Texas Premier Mortgage can offer you favorable financing terms and 0% down on your home loan not offered to regular citizens! This perk allows you some great financing options.

Who is Eligible for a VA Loan in Texas?

• Active-duty military
• Veterans
• Reservists and members of the National Guard
• Some surviving spouses of veterans