Finding the right mortgage in Texas doesn’t have to be complicated. At Loankea, we offer clear and accessible loan options for every situation. Whether you’re a first-time buyer, a foreign national, or investing from abroad, our experienced brokers will guide you from start to finish.
Key Features:
- Loan Amounts: Typically up to $5 million, with jumbo options reaching $6 million for high-value properties
- Down Payments: As low as 10% for primary residences, 15-20% for investment or secondary homes
- Terms: Fixed rate up to 30g, 30-year or adjustable rates
- Property Types: Eligible for primary, secondary, vacation, or investment properties
Areas We Serve
From vibrant cities to quiet ranch towns, Loankea delivers customized mortgage solutions across Texas’s diverse landscapes. We proudly assist homebuyers and investors in:
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No matter which city you choose, our team is ready to guide you every step of the way. Let us help you find your ideal home in any of these vibrant Texas communities.
Our Texas Home Loan Programs
We offer specialized loan programs designed for the Lone Star State’s unique real estate landscape:
Primary Homebuyer Programs
• Conventional Loans – 3% down payments with competitive rates for qualified buyers
• FHA Loans – 3.5% down with flexible credit requirements (perfect for first-time buyers)
• VA/Texas Vet Loans – $0 down for military families with no PMI requirements
• USDA Loans – 100% financing for rural Texas properties
Self-Employed & Investor Solutions
• Bank Statement Loans – Qualify using 12-24 months of bank deposits (no tax returns needed)
• DSCR Loans – Approval based on rental property income (1.0+ ratio required)
• Asset-Based Loans – Leverage investment portfolios instead of W-2 income
Specialized Financing Options
• ITIN Mortgages – For foreign nationals using Individual Taxpayer Identification Numbers
• Credit Flex Loans – Options for borrowers with recent credit events
• Non-QM Programs – Alternative documentation for unique financial situations
• Private Money Loans – Short-term funding for fix-and-flip projects
Our loan experts are here to guide you through each program’s benefits. They will help you choose the fastest and most affordable path to homeownership or investment success.
Qualifying for a Mortgage Loan in Texas
To qualify for a mortgage loan in Texas, applicants must meet specific requirements set by lenders and state regulations. Lenders typically evaluate credit score, income stability, debt-to-income ratio, employment history, and available down payment. A higher credit score and steady income can improve your chances of approval and help secure favorable loan terms.
1. Credit Score Minimums
- Conventional Loans: 620+ (700+ for best rates)
- FHA Loans: 580+ (with 3.5% down) or 500+ (with 10% down)
- VA/USDA Loans: No official minimum (but most lenders prefer 580+)
2. Down Payment Options
- Conventional: 3% (first-time buyers) to 20% (investment properties)
- FHA: 3.5% (can use gift funds)
- VA/Texas Vet: 0% down (for military borrowers)
- USDA: 0% down (rural areas only)
3. Debt-to-Income (DTI) Ratios
- Standard Limit: 43-45% (up to 50% with strong compensating factors)
- Calculation: (All monthly debts + new mortgage) ÷ Gross monthly income
4. Income Verification
- W-2 Employees: Last 30 days pay stubs + 2 years tax returns
- Self-Employed: 2 years tax returns + YTD profit/loss statement
- Bonus/Overtime: 2-year history required for qualification
Before applying for a mortgage loan in Texas, gather all necessary financial documents and review your credit report for accuracy.
Texas-Specific Notes:
- No state income tax = higher qualifying income
- Mandatory property tax escrows (lenders typically require 2-6 months upfront)
- Jumbo loans start at $726,200 (higher in Austin/Dallas metros)
Texas Down Payment Assistance Programs
In Texas, certain programs offer additional support for first-time homebuyers, such as down payment assistance or reduced interest rates. Exploring these options can make homeownership more accessible.
- New American Funding: Provides grants/low-interest loans covering down payments + closing costs, ideal for first-time buyers.
- My First Texas Home (TDHCA): Combines 30-year fixed-rate mortgages with up to 5% down payment assistance for qualifying buyers (first-timers, veterans, or those who haven’t owned in 3+ years).
These programs often come with specific eligibility criteria such as income limits, credit score requirements, and mandatory homebuyer education courses.
Benefits for First-Time Homebuyers in Texas
First-time homebuyer benefits Texas residents can access include:
- Lower down payment options with FHA Texas or USDA programs.
- Access to special grant programs and closing cost assistance.
- More flexible qualification standards for income and credit history.
How Much Money Do You Need to Buy a House in Texas?
The income needed to buy a home in Texas depends on the home price, loan type, and down payment. For instance, a $300,000 home with 3% down typically requires about $62,000 annual income, while a VA loan (0% down) may only need $58,000. Your credit score also matters — stronger scores (720+) help you qualify for better terms.
Beyond the mortgage itself, Texas homebuyers must account for closing costs (typically 2-5% of the loan amount), property taxes (among the nation’s highest at 1.5-2.5% of home value annually), and potential HOA fees ($200-$600/month in many suburban communities). Therefore, lenders review your full financial picture, not just income, to determine affordability.
Let Loankea help you calculate your ideal budget. Call 888-880-1677 or try our online calculator for a personalized estimate. We’ll guide you through all costs — from upfront payments to long-term expenses—so you can shop with confidence.
1. Access wholesale mortgage rates 0.5-1.5% below market average
2. Nationwide network of 150+ A-rated lenders competing for your business
3. Lightning-fast 7-15 day closings to secure your dream home
4 . Fully customized loan solutions for every financial situation
5. All property types financed – primary, investment, vacation home
6. Exclusive programs for:
- First-time buyers
- Foreign nationals (ITIN loans)
- Self-employed (No Tax Return options)
- Investors (DSCR & LLC-friendly)
7. Streamlined digital process – apply to close completely online
8. Low 15% down payment options with alternative qualification
Ready to start? Get a free pre-approval in minutes and see what you qualify for today. Let our experts find your ideal loan – faster, smarter, and at better rates than you’ll find anywhere else.
