Mortgage Loan Programs in Texas

Down Payment Assistance

Supreme Dream offers two assistance options for eligible FHA buyers: 3.5% forgivable assistance or 5% repayable assistance. Funds may be used toward eligible down-payment or closing costs. No first-time homebuyer requirement or program income limit applies under current guidelines. Program and state restrictions apply.

FHA Loans

Eligible borrowers may qualify with a down payment as low as 3.5%. FHA permits maximum financing beginning at a 580 credit score, although lender, underwriting and borrower-specific requirements apply. Eligible gift funds may be used.

VA Loans

Eligible Veterans, service members and qualifying surviving spouses may be able to purchase with no down payment when the sales price does not exceed the VA reasonable value and sufficient entitlement is available. No monthly private mortgage insurance is required.

USDA Loans

Eligible buyers may qualify for 100% financing when purchasing a primary residence in a USDA-eligible area. Household-income, property and underwriting requirements apply. Eligible manufactured homes may also qualify, subject to USDA and lender requirements.

Conventional & First-Time Buyers

Qualified buyers may have conventional options requiring as little as 3% down. Some options are designed for first-time buyers, while others may be available to eligible repeat buyers. Credit, income, occupancy and mortgage-insurance requirements vary by program.

Self-Employed Loans

Eligible self-employed borrowers may be able to document income using bank statements, 1099 income, a profit-and-loss statement or other alternative documentation. Required documentation and business-history requirements vary by program. Qualify with 12 or 24 months of bank statements.

Asset Depletion Loans

Eligible borrowers may be able to use qualifying assets to establish income when traditional employment income is limited or unavailable. Eligible assets, calculation methods, loan amounts, occupancy and reserve requirements vary by program.

DSCR Investor Loans

DSCR financing may allow eligible real estate investors to qualify primarily using a property’s rental income rather than traditional personal-income documentation. Down payment, credit, reserves, property type and minimum cash-flow requirements vary by program.

Land & Hobby Farm Loans

Financing may be available for eligible residential land, rural acreage, recreational property and hobby farms. Down payment, acreage, property-use and minimum-loan requirements vary by program. Up to 85% LTV on eligible properties. No maximum acreage.

One-Time-Close Construction

A one-time-close construction loan can coordinate eligible land, construction and permanent financing through one closing. Construction funds are released through managed draws as work is completed. Available loan types, construction periods and payment structures vary by program.

Renovation Loans

Eligible renovation loans may combine a home purchase or refinance with funds for approved repairs and improvements. Available options may include FHA 203(k), HomeStyle® Renovation, VA renovation and other qualified renovation programs.

Refinance & Home Equity

Explore cash-out refinance, home equity loan and HELOC options based on your goals and current mortgage. Available term options may allow eligible borrowers to select a term shorter than 30 years. Texas home-equity requirements and program restrictions apply.

By refinancing an existing loan, total finance charges may be higher over the life of the loan.

Jumbo Loans

Jumbo financing may be available for qualified borrowers whose loan needs exceed applicable conforming limits. Fixed- and adjustable-rate options may be available for eligible primary residences, second homes and investment properties. Loan amounts up to $3 million.

Condo Loans

Financing may be available for eligible warrantable and non-warrantable condominiums. Supreme Lending’s condo team reviews project eligibility, and FHA single-unit approval may be available for eligible units in projects without full FHA approval.