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Grove Mortgage home loans of Dallas, Texas - VA Loans, FHA and Jumbo Loans

Grove Mortgage Home Loans in Dallas, Texas

210-656-1134

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Learn about home loan purchase programs in Dallas, Texas

Purchasing your home with the local mortgage specialists at Grove Mortgage.



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Purchasing advantages verses renting

  • Tax benefits - You get to enjoy the write-offs that are available at tax time; mortgage interest is tax deductible.
  • Build wealth - As your equity increases so will your wealth.
  • Stabilize your payments - Monthly payments are relatively steady if your loan has a fixed interest rate, while your landlord can increase the rent.
  • Have a secure place for your family to live - A home provides a permanent place where your family can live and grow, and you can decorate or expand a house the way you like to create your dream home.
  • Gain a sense of community - Homeowners often are more involved in the well-being of their communities; many homeowners work together for better schools and less crime.

VA

Texas VA home loans are for Texas Veterans and Active Duty servicemembers.

If you are Active Duty or a Veteran you can qualify for a Texas VA home loan up to $424,100 with $0 down payment and no PMI.

The Veterans COE and VA Funding Fee are two items that are very important in the home buying process because they let the lender know the amount of VA Eligibility you have and if do qualify for Exemption from the Funding Fee due to a service-connected disability.


Learn about VA Loans

FHA

FHA loans are one of the most popular mortgage loans available today especially for first time homebuyers.

Federal Housing Administration Loans, otherwise known as FHA, is a program that is run by the Department of Housing and Urban Development (HUD). FHA loans are home loans that are insured by the Federal Housing Administration (FHA).

One of the best things about FHA loans is that they require a low down payment (only 3.5%). FHA Loan limit vary here in Texas dependent on what county that the property is in. The range for Texas is $294,515 - $386,400. Here is a link to check your county.


Learn about FHA Loans

Conventional

Conventional mortgages are loans underwritten and insured by private lenders and investors. They are not insured or guaranteed by the government, thus it's available to anyone meeting the qualification requirements.

There are also established guidelines for borrower credit scores, income requirements and minimum down payments.

Conventional loans are "conforming" if they are generally $424,100 or less for a single-family home.


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Jumbo

A Dallas Jumbo loan provides financing for loan amounts higher than the maximum conforming limits set by Fannie Mae and Freddie Mac.

Jumbo loans are mortgages that are over the conforming industry standard or what is know as the conforming loan limit. Currently starting at $424,100 and may be higher in some geographical areas to $650,000 and for a Super Jumbo an amount over $650,000.

These loans are bought and sold on a smaller scale. They often require a larger down payment percentage and carry a larger credit risk for the lender so the interest rate is typically higher than a conforming loan that is under the conforming loan limit.


Learn about Jumbo Loans

Closing Cost for buying your home in Texas.

Generally costs between 3% and 6% of the loans principal. Closing costs can be divided into three main categories:

  • Lender fees: Fees can include origination, points, application, credit report, and appraisal.
  • Third-party fees: These fees vary by state and the actual company you select to close your loan. They can include fees for closing, title exam, title insurance, and recording.
  • Pre-paid items: These are items collected at the time of closing but are not really considered costs. They include items you pay whether or not you refinance (for example, interest, taxes, and hazard insurance).

 When trying to figure what all the closing cost are going to be, it is best to obtain a Loan Estimate (LE) from your Mortgage Broker. That way you can see a breakdown of all the fees that are being charged.

VA Loans allow you to finance 100% of the home, please see the VA loans page for more info.

What You Can and Cannot Deduct even for Jumbo Loans.



We are a VA Approved lender and Licensed Texas Mortgage Broker.


We proudly boasts an A+ rating from the Better Business Bureau. Better Business Bureau

Give us a call at 210-656-1134.

Compare our fees to the Big Banks!

Grove Mortgage Fee Big Banks
$0 Origination $3,800.00 (1%)
$0 Processing $495.00
$0 Underwriting $895.00
$0 You Save $5,190.00 $5,190.00

Actual loan estimate based on $400,000 30 year fixed conventional loan, 5% down payment, 3.75% interest rate


On an $400,000 purchase, you will save $5,190.00 in junk fees that the big banks charge.

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Dallas Home Mortgage Loans