Prodigy Lending’s Low-Income Home Loans In Santa Teresa, NM
Prodigy Lending is a combination of mortgage professionals found in the entire United States who have been highly trained and possess all the necessary skills to solve all your mortgage-related puzzles in El Paso. You might have conducted research on your credit ranking and discovered that your credit ranking is bad, at Prodigy Lending we offer a number of home loans for bad credit in El Paso. With the ever-rising cost of living, you might feel that your income is not sufficient to finance your cost of acquiring a new home, we also have the best El Paso low-income home loans available.
The team of mortgage experts at Prodigy Lending will provide you with all the needed guidance as you work towards achieving your dream. Our loan programs at Prodigy Lending are designed to refinance an existing loan or consolidate debt, purchase a first home or your dream home. Study the loan programs below and learn about El Paso home loan requirements before taking a pre-approval letter.
The best pros associated with the conventional home loans is the inexistence of lender fees and the low down payment of up to 3%. On top of that, there is a reduced PMI compared to the one attached to FHA loans. The conventional home loans charge low-interest rates so long as your scores are approved. Prodigy Lending has conventional home loans available at flexible terms of 30, 20,15 or 10-year mortgages.
FHA HOME LOANS
Are you in need of a rehab loan? The FHA is the best loan Prodigy Lending can recommend to you. With a down payment of as low as 3.5%, you can easily qualify for the FHA loan which offers affordable interest rates. You are only required to have a high DTI ratio for you to qualify for the FHA home loan.
Just like the VA loan, the USDA loan allows for 100% financing and low-interest rates for this kind of financing. The mortgage insurance cost for USDA home loan is very low. If you qualify for income and home location then Prodigy Lending recommends you apply for USDA home loan which doesn’t require you to pay any down payment.
VA HOME LOANS
As hinted earlier, the VA home loan allows for 100% financing without taking up any mortgage insurance. The VA home loan offers the best rates for a government loan and you can easily qualify for this loan whose closing cost is lower compared to all other bad credit home loans in Arlington.
Now that you have learned about the requirements for a home loan in El Paso, feel free to contact our team of mortgage experts in Prodigy Lending by making use of the interactive instruments offered at our site or call to talk directly to us. We value trust and all our customer’s information will be handled privately and in a secure manner. We look forward to working with you.
Feel free to contact us today for more home loan information!