Finding the Right Mortgage

There are several types of mortgages available to homebuyers, each with its own features and benefits. Here are some common types of mortgages and who they are suitable for.

Conventional Fixed-Rate Mortgage (FRM):

• Suitable for: Borrowers who prefer consistent payments and plan to stay in their homes for an extended period.

FHA (Federal Housing Administration) Loans:

• Suitable for: First-time homebuyers or those with limited down payment savings.

VA (Veterans Affairs) Loans:

• Suitable for: Eligible veterans and military personnel.

First Time Homebuyer (up to 100% financing)

• Suitable for: Those with limited down payment savings.

Jumbo Loans

• Suitable for: Homes with values above the conventional pricing levels.

Land Loans

• Suitable for: Individuals wishing to build their own home, developers, and investors.

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For more features of these mortgage options, CLICK HERE to read our blog post.

No matter your homebuying needs, Texas Bay has the solution. Whether you're a first-time homebuyer, searching for your dream home, or looking to refinance, Texas Bay Credit Union is here to support you every step of the way.