From buying your first home to upgrading space for your growing family, Greater Texas | Aggieland Credit Union has the home loan to suit your needs.
Getting a home loan to buy a home is a common step for home buyers. However, it’s a unique process for everyone. There are a variety of mortgage loan options and loan programs available. No matter which home loan you choose, Greater Texas | Aggieland Credit Union will save you money on interest rates and monthly payments.
Home Loan Programs
Securing the right loan amount and monthly mortgage payment doesn’t have to be guesswork. When you choose Greater Texas | Aggieland Credit Union, we work with you to get the best mortgage rates and loan terms around.
Learn more about our superior quality home financing.
Conventional Fixed-Rate Mortgage
Conventional fixed-rate mortgages are among the most common types of home loan. These mortgages allow you to secure a fixed rate for 15, 20, and 30-year loan programs.
Benefits of conventional fixed-rate mortgages include fewer closing costs, flexible monthly payment terms and no mortgage insurance with 20% down or more.
Conventional Adjustable-Rate Mortgage
Conventional adjustable-rate mortgages are another popular home loan offered at varying term lengths.
This type of mortgage allows you to secure an initial fixed, low-interest rate period before the adjustable-rate kicks. At this point, your rate will fluctuate based on an adjustment index and monthly payments may increase or decrease.
Conventional adjustable-rate mortgages can be desirable due to the low-rate introductory period. Keep in mind that budgeting and refinancing can be challenging with this type of home loan.
It’s true that FHA loans are ideal for someone purchasing their first home. However, FHA loans are available to any buyer seeking a government-backed mortgage whether or not you’re a first-timer.
This loan program is highly beneficial due to lower monthly payment requirements. Along with that comes the buyer’s responsibility to cover the monthly PMI premium that is added to the mortgage.
Advantages of FHA loans include lower down payments and flexible eligibility requirements.
First-Time Home Buyer Mortgages
As a first-time buyer, you’re likely anxious and excited about getting that first home to call your own.
Luckily, there are many loan options to check out. You’ve probably heard of FHA loans, USDA loans, and others. Depending on your credit score and financial history, you could be eligible for something that offers you more, while costing you less.
Let the mortgage loan officers at Greater Texas | Aggieland Credit Union lead you in the right direction.
VA loans are insured by the U.S. Department of Veterans Affairs (VA). These loans are available to active and retired military, as well as surviving spouses. VA loans provide 100% financing to those meeting eligibility requirements.
VA loans offer low interest rates, no down payment requirement or monthly mortgage insurance, and an easier mortgage application process.
USDA loans help borrowers purchase homes in both suburban and rural areas. USDA loans strive to improve the economy and make homeownership achievable for just about anyone.
The big advantages of USDA loans are low-interest rates and zero down payment. There is also less strict qualifying criteria.
Adjustable Rate Mortgage
Adjustable-rate mortgages (ARM), also called 3/1, 5/1, and 7/1, is a type of home loan with a fluctuating interest rate. The rate on an adjustable-rate mortgage is less than that of a fixed-rate mortgage. However, because the rates fluctuate it’s important to weigh the risks and benefits.
An adjustable-rate mortgage may enable you to obtain a lower interest rate, plus fixed payments for a longer period of time compared to other adjustable rate home loans.
Home Loan Refinancing
You may not be in the market for a new home, but how about a new low-interest rate? Refinancing your existing mortgage can take place quickly at any of our branches so you can start saving you money.
Refinancing is available for all types of mortgages - conventional, FHA loans, adjustable-rate and fixed-rate.
Home Loan Financing Resources
At Greater Texas | Aggieland Credit Union, we’re here to guide you in whichever direction you’re headed. Whether you’re buying your first home, moving to the country or expanding your investment property portfolio, we have all the resources for you to make a well-informed decision.
Home Loan Calculators
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Other Home Loan Resources
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Superior Home Loan & Mortgage Lending Solutions
Greater Texas | Aggieland Credit Union offers a range of home loan programs to suit your lifestyle and budget. We’re happy to help you turn your dream into a reality with the best home loan for your needs.
*APR=Annual Percentage Rate
Membership required. The Interest rate, annual percentage rate (APR), origination fees, discount points and closing cost are subject to change without notice based on your loan amount, credit history, loan to value, property type, and intended use of the subject property. This is not an offer of credit and is subject to the terms and conditions of Greater Texas Federal Credit Union, not all borrowers will qualify, subject to approval and underwriting standards, restrictions may apply. Equal Housing Lender, Greater Texas Federal Credit Union (NMLS# 450182) offers mortgage loans by partnership with TruHome Solutions, LLC (NMLS# 284608).