Texas Home Loans

Popular Low Money Down Optionss

Explore some low and no money down mortgages for your TX property.

eLEND offers competitive interest rates on fixed-rate and adjustable-rate mortgages, which are among the most popular choices for Texas homebuyers. But if you have more specific borrowing needs, one of these alternatives may work best for you:

• VA Loans – These loans offer one of the only 100% financing options on the market for eligible military veterans, as well as some active duty personnel and surviving spouses. eLEND can help you determine if your military service allows you to qualify for a VA Loan.
• Texas FHA Loans – Popular home financing solutions for those who can afford to put down at least 3.5%. Streamline refinancing can also help those currently with FHA loans save time and money.
• Texas USDA Loans – With all that available land in the Lone Star State, there are plenty of regions eligible under the Department of Agriculture’s Rural Housing Loan Program. An eLEND representative talk you through the guidelines of this unique program, just give us a call at (800) 634-8616.

Texas mobile and manufactured home financing

Mobile and manufactured homeownership in the Lone Star state offers many advantages! From Amarillo to Corpus Christie, manufactured home choices are plentiful and with financing through eLEND, purchasing can be simpler and faster than you thought possible. For those who want affordable real estate, a mobile home, manufactured home or modular home can be a great option.

However, finding quality financing for mobile homes, manufactured homes and modular homes can be a daunting task. We offer a variety of financing options for these home types, including FHA loans, to qualifying homebuyers and homeowners looking to purchase or refinance manufactured homes on owned land in the State of Texas. Singlewide, doublewide, and multiwide mobile, modular and manufactured homes may be eligible.

eLEND offers mobile home financing through loans back by the Federal Housing Administration. Some of the advantages of this specialty loan include:

• Competitive interest rates – FHA loans have competitive pricing, making them a good choice for a wide variety of housing options.
• Low down payments – Qualified buyers can put as little as 3.5 percent down when purchasing a manufactured home.
• Flexible qualifying – Even if you have some credit issues, you may be pleased to learn you can still qualify for a mobile home loan from eLEND.

Types of Mobile Homes

Singlewide and Doublewide Mobile and Manufactured Homes

A Manufactured Home is constructed off-site in a factory and transported to it’s permanent location. Manufactured homes can be one unit (single wide) or two units (double wide). A single wide manufactured home is 18 feet or fewer wide and 90 feet or fewer long. This can be a great choice for an affordable smaller home. A double wide mobile home is a prefabricated home that is typically at least 20 feet wide and no more than 90 feet long.

Singlewide and Doublewide Modular Homes

Modular homes are very similar to stick built homes, but they are prefabricated in a factory or other offsite facility, and then transported in one or more sections to the home site and finished in place. Unlike manufactured homes, modular homes must meet the same local building codes as stick built homes, and also generally qualify for the same financing programs as homes built on site from the ground up.

How Do I Qualify for Mobile Home Financing?

To be eligible for our mobile home loan program, some of the requirements that must be met include the following:

• The home must be a minimum of 400 square feet.
• The home must have been built after June 15, 1976, and in conformance with the Federal Manufactured Home Construction and Safety Standards (there will be a certification label to signify this).
• The home must be on a permanent foundation and cannot be located in a mobile home park.
• The loan must also cover the land that the manufactured home sits on. If it does not, and the mobile home is on land you do not own, we can still help you! Our personal property loans are *powered by MHL. Talk to one of our home loan specialists today!

Looking to refinance instead? Learn more about refinancing a manufactured home or refinancing a mobile home with eLEND!

You could own your next Texas home with zero money down with a USDA loan

A popular home financing option for first time buyers and repeat buyers alike, the USDA Rural Housing Loan from eLEND offers many benefits. With zero money down and competitively low interest rates, Texas buyers who are on a budget may want to consider this unique and affordable mortgage program.

USDA loans are designed to stimulate homeownership in rural regions throughout the United States. Even though USDA loans can only be used to finance properties located in areas that are designated as rural by the USDA, many home buyers are pleasantly surprised to find out that there are numerous USDA-eligible areas that are still conveniently close to shopping, good schools, hospitals and almost everything else you could need.

In order to qualify for USDA home financing, the home must be located in a designated rural area. Although Texas is home to several sprawling metros, much of the state is still considered rural by the USDA’s standards. You might even be surprised to learn that some neighborhoods just outside the big cities are in USDA-eligible zones!

Talk to a home loan expert from eLEND today to learn more. Call (800) 634-8616 today !

FHA loans in the state of Texas

We at eLEND are happy to assist homeowners and soon-to-be homeowners throughout the “Lone Star State.” Whether you’re hoping to buy your very first home in Houston or you’re hoping to refinance your Austin condo, our affordable FHA loans can be used for purchasing a home or refinancing an existing mortgage.

Our Texas FHA loan programs are well-suited for a variety of home financing needs. If you’re hoping to purchase a home and are a little short on cash for a down payment, an FHA purchase loan could be the best option, since it requires a lower down payment than most other conventional home loans – usually as little as 3.5 percent!

• Low down payment requirements Low mortgage rates.
• May be easier to qualify for compared to other loans.
• Available in 30-year and 15-year loan terms fixed rate

To learn more about our FHA loan program for Texas home buyers call (800) 634-8616 today!

What is needed to qualify for an FHA loan?

Qualification requirements vary depending on which type of FHA loan you are applying for. However, your loan approval will be based on several factors including:

• Credit score and credit history
• The amount of income you earn
• The amount of your other debts
• How much equity you will have in the property
• If the home will be used as your primary residence
• The amount you’re trying to borrow (loan amounts are restricted to the FHA loan limits which vary by county and are based on the cost of real estate in that area)