Home Loan Programs
Listed below are the three types of loan programs we most often do. As we go through the initial loan discussion we will determine which options you have and together choose the best program for you. We are experts in all loan types.
DOWN PAYMENT: 0%
- Credit Requirements: No delinquent or derogatory payments in last 12 months
- Debt to Income Ratio: 41%+ (higher on a case by case)
- Maximum VA Loan Amount: None
- We have over 20 years experience in originating VA Purchase Mortgage Loans for Veterans. Dealing with professionals who take the time to fully educate you on the benefits and process of a mortgage loan for Veterans makes all the difference. We have developed a proprietary consultation and folder to provide you with to ensure that all mission-critical information is covered. Don't worry, we will educate you about the VA purchase loan and process and how your Veteran or active duty status applies.
MINIMUM DOWN PAYMENT: 3.50%
- Credit Requirements: 580 FICO
- Debt to Income Ratio: 43%+ (higher on a case by case)
- Maximum FHA Loan Amount: Varies by county
- FHA loans have been assisting people to achieve home ownership since 1934. The Federal Housing Administration, which is part of HUD, insures the loan so that we as your lender can offer you the most favorable deal for your particular situation. This loan is ideal for the first time home buyer or if your credit does not meet the traditional criteria.
MINIMUM DOWN PAYMENT: 3.00%
- Credit Requirements: 620 FICO
- Debt to Income Ratio: 50%+ (higher on a case by case)
- Maximum Loan Amount: $548,250 +
- At Low VA Rates we can assist you with many different types of mortgage loans including a conventional loan. The main difference with the other loan types is that a conventional loan is not made by a government entity nor insured by a government entity. This loan type can work for a variety of borrowers. Guidelines can vary widely. We have the experience to assist you in the event a conventional loan is the best option for your particular needs.
VA Loan Rap Video
We produced a fun rap video to educate veterans who have a VA home loan entitlement on program details. There are a few features we point out that isn't well known.
© 2022 Low VA Rates, LLC™ d/b/a Garett Law Mortgage.
Low VA Rates, LLC is not affiliated with any U.S. Government Agency nor do we represent any of them. Corporate Address: 384 South 400 West, Suite 100, Lindon, UT 84042, 801-341-7000. VA ID 979752000 FHA ID 00206 Alaska Mortgage Broker/Lender License No. AK-1109426; Arizona Mortgage Banker License #0926340; California DBO Finance Lenders Law License #603L038; Licensed by the Delaware State Banking Commission License #018115; Georgia Residential Mortgage Licensee License #40217; Illinois Residential Mortgage License #MB.6761021; Licensed by the New Jersey Department of Banking and Insurance, Ohio Mortgage Loan Act Certificate of Registration #SM.501937.000; Oregon Mortgage Lending License # ML-5266; Rhode Island Licensed Mortgage Lender License #20143026LL; Texas License LOCATED at 201 S Lakeline Blvd., Ste 901, Cedar Park, TX 78613; EAH061020 NMLS ID# 1109426 NMLS Consumer Access www.nmlsconsumeraccess.org.
Information. Consumer's total finance charges may be higher over the life of the loan.
Consumer NMLS Access - NMLS #1109426. NMLS#: 20750, Branch NMLS#: 1338334.
TEXAS MORTGAGE COMPANY DISCLOSURE: "CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIALMORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV."
*Annual savings calculator based on 2015 monthly average savings extrapolated year-to-date.