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Mortgage Loan Options

Serving Those Who Serve

Mortgage Loan Options

We offer a few military-specific mortgage loan options:

  • Veterans Affairs (VA) Loans
    • The VA Loan is guaranteed by the U.S. Department of Veterans Affairs. This program is designed to help returning service members purchase homes without the requirement of a down payment. VA Loans may allow for 100% financing and requires the owner(s) to occupy the residence. Borrower qualification depends on income levels, debt levels, credit qualifications, and appraised value of the property.
  • Texas Veterans Housing Assistance Program
    • We are an approved Texas Veterans Housing Assistance Program lender and can provide this program to qualified applicants in conjunction with VA, FHA, and Conventional qualifying guidelines. The Texas Veterans Housing Assistance Program was created by the Veterans Land Board (VLB). There are two facets to the Veterans Land Board: Home Loans and Land Loans. The Home Loan is the mortgage loan option that the VLB allows lenders, such as First Community Mortgage, to offer Texas veterans through the Texas Veterans Housing Assistance Program. This program offers Texas veterans a lower interest rate on the mortgage they are financing. Eligible Texas veterans will be given the opportunity to purchase a home with a competitive, low-interest loan with little or no down payment.

Other mortgage loan options that may be of interest to you:

  • Conventional Loans
    • You can use a Conventional Loan to buy your primary residence, secondary residence, or rental/investment property. Down payment runs as low as 3% for first-time homebuyers.
  • FHA Loans
    • This loan program is designed to assist homebuyers with low down payments and affordable closing costs. The U.S. Department of Housing and Urban Development (HUD) insures these loans in urban and rural areas for owner-occupied single family homes, excluding investment properties.
  • USDA Loans 
    • This loan is guaranteed under the United States Department of Agriculture (USDA) and provides homeownership opportunities to buyers looking for a home in rural areas who meet certain income requirements. With a USDA Loan, borrowers do not have a down payment and are able to use a gift or grant to go toward their down payment.

To apply for a mortgage, please click on one of the buttons below. To speak with a Loan Officer, please click here.

Click here to apply for a mortgage

All loans and collateral are subject to approval.