We have many different types of loans available. Whether you have excellent credit or spotted credit, a huge down payment or very little, we have the loan programs and banks to help you obtain financing almost every time!
Conventional Loans
This is the most common type of home loan is offered. “Conventional” just means that the loan is not part of a specific government program. Conventional loans typically cost less than FHA loans but the requirements are more specific. Eligibility, pricing, and features can vary. New City can shop and compare several different types of conventional loans.
Conventional loans are often the best option for borrowers with strong credit who can contribute a down payment of at least 3%, or perhaps quite a bit more. Find out what rate you can get by applying today.
Jumbo Loans
If you are looking for a jumbo mortgage loan anywhere in Texas, you’ve come to the right place! Here we share essential information that will enable you to locate the loan program that best meets your needs, whether you are purchasing a home, or refinancing your current mortgage loan with a jumbo mortgage.
Our jumbo mortgage financing interest rates are well below the national average and have the added benefit of low down payment options of only 10% down. We have access to several lenders who are providing jumbo and super-jumbo mortgage loan financing at very competitive rates.
Construction Loans
Want to fix up your current home? Want to add a room or remodel the entire home? A construction loan may be what you need. Construction loans can pay for home building or renovation.
The benefit of financing big renovations with a construction loan, rather than a personal loan or a home equity line of credit, is that you’ll generally pay a lower interest rate and have a longer repayment period.
FHA Loans
New City Mortgage offers the Federal Housing Administration Loan (FHA) to assist borrowers who may need a low down payment and flexible mortgage guidelines. The FHA loan is a great product that helps many people refinance or become homeowners.
- Low down payment required – This can be a gift; see your New City Mortgage Loan Officer for details.
- Under the FHA streamline program, current FHA loan borrowers can refinance with no appraisal.
- The seller can contribute to borrower’s closing costs.
VA Loans
Veterans Affairs (VA) loans are making the dream of homeownership a reality for millions of veterans and military personnel. VA loans guarantee a maximum of 25% of a home loan amount up to $104,250 for qualifying borrowers.
One of the primary benefits of a VA loan is that it offers 100% financing for purchases and refinances without requiring mortgage insurance. Funding gifts are allowed and the seller can pay off veteran debt if necessary to qualify for the loan.
How It Works:
VA loans are equal opportunity loans for all qualified veterans and military personnel who meet service requirements.
First Time Homebuyer
Special 1st Time Home Buyer Programs
- Down Payment Assistance
- Special Closing Cost Assistance Programs
- State Bond Programs
- First Time Home Buyer Grants
- FHA, VA, and USDA Home Loans
- HUD’s $100 Down Program Payment Loans
- Special Teacher, Fire Fighter, and Police Programs
- My Community Loans
- New Construction Loans
- Home Loans With Repairs
Foreign National
Yes, you can get a mortgage for a property in another country. The bank or lender will need to have an overseas presence in order to assist you with getting an international mortgage.
Buying a house or property in a foreign country might sound like an interesting option. As you might know, buying international property can be more challenging than purchasing a home here in the U.S. With research, professional guided assistance, and some due diligence, you may be able to purchase a home overseas today or in the near future.
Contact us for Details
Investment Loans
Are you thinking about investing in real estate to rent out or use as a vacation home? It could turn into a steady source of extra income or a great investment for the future.
Investment property loans are primarily used for the purchase of second homes and investment properties, and/or vacation properties. New City offers a variety of investment property loans to suit your different needs. Contact New City to learn more about real estate investment loans and current investment property loan mortgage rates.
My Community Loans
See How Much You Can Afford!
Refinance Your Home
Refinancing your home simply means you are replacing your current home loan with a new home loan.
Many homeowners choose to refinance for many reasons. Some benefits to refinancing your home include getting extra cash for any expenses you have, to shorten your mortgage term, acquiring a lower mortgage rate and more.
Turn a place with potential into the home of your dreams with a New City Mortgage renovation loan. We offer several products for minor or major upgrades on a home. Our renovation programs make it convenient for you to improve a property by including the extra financing in a purchase or refinance loan. Find out how easy it can be by contacting us today.
EXPERIENCE THE NEW CITY DIFFERENCE
Transparent Communication
Throughout the loan process, we will be communicating with you and your Realtor to ensure everyone is in the know.
Great Rates
Because we are both lenders and bankers, we are able to offer extremely competitive rates.
Wide Array of Loan Products
By working with over 90+ banks, we have unique loan products to fit your unique needs.
Fast Closings
Our in-house, detail oriented team dedicates their time to ensuring your loan moves fast through the pipeline.