Government-Guaranteed Loans Offered By Prodigy Lending in Hurst, Texas
The US government came up with a mandate some decades back that would help its people to access affordable housing. This is because initially, the only home loan alternatives available were those offered by private lenders (conventional loans) and they were very costly and had stringent qualification requirements. The government seeing that affordable housing was becoming a basic need for its people decided to intervene, through its various departments. The Department of Veteran Affairs came up with VA loans for retired war veterans and more recently, members of the National Guard and reserves as well.
They realized that they needed to help retired veterans settle back better into society after surviving war and there was no better way to ensure this than give them access to affordable homes. The Department of Agriculture as well, after realizing that the US needed to have better self-dependency in terms of food and other agricultural products decided to come up with the United States Department of Agriculture (USDA) loans. These offered subsidized and guaranteed loans to those who wanted aspired to practice agriculture once they settled in their homes. They are most popular in the rural parts of Hurst where there’s free land for agriculture. Lastly, the Department of Housing and Urban Development also came up with loan programs that would be open to everyone. Their FHA loans are guaranteed by the Federal Housing Administration and therefore are easier to access and less expensive than conventional loans.
Prodigy Lending, a mortgage lending firm in Hurst offers all of the above loan alternatives in better packages and with better qualities. They are a team of well-experienced mortgage professionals who are more than committed to providing their clients with the best quality of service for all their mortgage needs. The government-guaranteed loans offered by Prodigy Lending include:
- FHA Home Loans- FHA loans are considered as the best mortgage loan for first-time mortgage buyers in Hurst. They are offered at a 3.5% down payment requirement and very affordable interest rates. They are also extremely easy to qualify for as even those with high debt-to-income ratios are allowed to qualify for them. Prodigy Lending offers their FHA loans along with other home rehabilitation loans as well.
- VA Home Loans – These are offered exclusively to eligible veterans only. They offer 100% mortgage financing, i.e. no down payment required, no private mortgage insurance payments requirement, reduced closing costs, and the best mortgage rates. Like FHA loans, they are also very easy to qualify for.
- USDA Home Loans – usually offered to by the US Department of Agriculture to home buyers in rural parts of Dallas who are looking to practice agriculture once they settle into their new homes. They offer full or 100% home financing, incredible interest rates, and low PMI requirements.
These are the government-guaranteed loans offered by Prodigy Lending in Hurst.
Contact us today for more loan information!