Knowledgeable Mortgage Broker, Lending Agency & Home Loan Consultant In Hutchins, TX

Prodigy Lending And Mortgage Rates In Hutchins, Texas

 

 

For more than seventeen years, Prodigy Lending has been in the home loan business and has built a respectable name for itself through excellence. This excellence has not gone unnoticed. We have received recognition as the Top Work Place in the United States for eight consecutive years since 2011. This is because we value excellence and we like to ensure that we give our clients the best by hiring experienced professionals. We have served over 50,000 satisfied clients and our website contains testimonials from some of our past clients.  

Dallas is one of the largest cities in Texas, some say it is the third-largest. We as Prodigy Lending want to help you get that property that you desire. You can do this through one of our four main loan programs: Conventional home loans, USDA home loans, VA home loans, and FHA home loans. We put your needs first and help you land the property you desire while saving you money and we have helped our clients save over $90,000.

To decide on which loan program that is suitable for you, it is important to understand the different programs, their requirements, their benefits, the mortgage rates and the target borrower of that particular program. If you wish to purchase or refinance a residential home in Dallas, an FHA loan would suit you. FHA loan requirements in Dallas and in general allow anyone to apply for it since it is insured by the Federal Housing Authority (FHA). The features of an FHA loan include 3.5 percent down payment, mortgage insurance and higher debt to income ratio as compared to other home loans. 

Conventional home loans are suitable for investment property and an individual with good credit as the minimum score is 620 who wish to purchase or refinance property in Dallas. Conventional home loans require a down payment of 3%, flexible terms ranging from 10 to 30 years, no lending fees and have the best ratio for credit scores to interest rates. A USDA home loan can be of three types, direct loans, loans guarantee, and home improvement grants and loans. These loans can be used to purchase, refinance or upgrade the property of the borrower. 

A VA (Veteran Affairs) home loan requires no down payment and offers 100% financing for the property. This home loan may be applied for by veterans, approved spouses and active members of the military. This loan has lower closing costs and requires no mortgage insurance. In addition to these features, VA home loans are easy to qualify for. 

All these home loan programs are available at different mortgage rates. A 30-year fixed mortgage rate is another popular form of lending. It is a loan with a 30-year repayment plan. It has a fixed interest rate even if you take the full 30 years to pay. A 15-year fixed mortgage rate is similar to the 30-year plan but with a shorter duration of payment. The interest rates are decided on by the customer’s credit history and credit score. Timely payments, length of credit history and credit accounts affect the score.

Current mortgage rates for a 30-year fixed mortgage rate are 3.71%. For a 15-year fixed mortgage rate is 3.21%. For a 5/1 ARM, the rate is 4.17%.  The 30-year fixed mortgage rate has increased by 0.03%. The 5/1 ARM has decreased by 0.04%. The 15-year fixed mortgage rate has decreased by 0.06%.

At Prodigy Lending, we know that our clients value information hence we are on call during our working hours so that you can speak to any member of our outstanding team. We also have a lot of information on mortgages on our website to help make this process as easy as possible on you. 

Visit our offices today or contact us at https://prodigylending.com for more information. 

 

Privacy Policy - Terms of Service