If you are looking for a home in the El Paso area, Rocky Mountain Mortgage is a great lender offering a variety of programs that should fit well within your situation. With mortgage rates still extremely low, this is a lender that will work to get you the best possible terms available and into a home that fits within your budget. They have earned a solid reputation throughout the region and have assisted many homeowners in securing the financing that they quality for.
Assistance for First Time Homebuyers
Rocky Mountain Mortgage is particularly helpful for first time homebuyers, and they offer several programs that are specific to El Paso in particular, and Texas as a whole. They work with the Texas Department Housing and Community Affairs to provide first time homebuyers with up to five percent of they down payment, as long as funds are available. There are incoming and pricing provisions, but this lender is able to answer any questions that interested applicants might have. Another program offered is in partnership with the Texas State Affordable Housing Corporation. This also provides between three to five percent down payment assistance to qualified buyers. Two other programs that are available are the El Past Housing Finance Corporation City Down Payment Assistance Program and the El Paso Housing City Assistance Program. If you have the means, Rocky Mountain Mortgage likely has an option for you.
A Variety of Loan Programs
As a licensed mortgage lender in El Paso, Rocky Mountain Mortgage is able to offer five different loan programs depending on the buyers particular needs. The Federal Housing Administration currently offers a loan up to $271,050 with only 3.5 percent down. Veterans Administrations loans are also available for active military and veterans. No down payment is required for this loan, and homes up to $417,000 may be available. Also offered are conventional, USDA, and Texas Veterans Land Board mortgage based loans.
Working With Prospective Homeowners
Buying a home can be an exciting, yet frightening experience for many. Rocky Mountain Mortgage is well regarded as being an ethical lender that will help direct borrowers to a program that best suits their situation and their budget. This begins with the transparency evident right on their website. It is there that prospective homebuyers will find the answers to many of their questions. The hidden costs of owning a home, for example, are revealed in order to provide applicants with a more realistic picture of what they are looking at when considering the purchase of a home.
Knowing how much a prospective buyer can realistically afford is a key factor to consider. While no or low down payment loan programs might sound appealing to many homebuyers, they may not always be the best option. Rocky Mountain Mortgage will make sure that all possible loan programs are considered, and that current income levels match up with the amount of money being financed in order to get into a home. This is part of the ethical responsibility that all mortgage lenders should have, and it is evident at this one.
No matter what type of mortgage you are in need of, Rocky Mountain Mortgage is worthy of your consideration. They will work with you, assess your situation, and then make recommendations that you can then use to make your final decision.