832.481.6888 sean@mortgageright.com

Purchase Loans

Where Are You In Your Journey?

Buying a home is a very exciting time. It comes with a huge sense of pride and offers a sense of stability and community.

When it comes to mortgage loans, no two journeys to buying a home are the same. With a mortgage payment commitment of 15, 20 or 30 years, finding the best mortgage lender is more than just getting a good interest rate.

MortgageRight is dedicated to making the homebuying process easier and is eager to offer tips, tools and a staff of industry professionals to move you forward with confidence.

We\'ve helped thousands of people reach their goals and realize their dreams. We want to help you as well.

Mortgage Loan Options

Conventional Mortgage Loans

• Conventional loans are not insured by a government agency

• Require a minimum 3% down payment

• There are a variety of fixed and adjustable-rate conventional loans to choose from

• Generally carry strict guidelines on credit scores, loan to value ratios, debt to income and down payments

• The interest rate varies based on credit score and loan term

• Offers 10, 15, 20, 25, 30 and 40-year repayment terms

FHA Mortgage Loans

• Great for first-time buyers and buyers with lower credit scores

• FHA loans are not restricted to first- time home buyers or low-income buyers

• Easier requirements for income and credit score

• Minimum down payment 3.5% and lower closing costs

• Mortgage Insurance may be less costly than PMI

• Seller can contribute up to 6% of SP to cover closing costs

USDA Mortgage Loan

• Special financing in USDA defined areas

• Flexible credit guidelines and qualifying criteria

• Lower than market intererst rate

• No down payment required

• Closing costs can be seller-paid or rolled into the loan

• Lower monthly private mortgage insurance (PMI)

• Ability to finance upfront PMI

VA Mortgage Loan

• For veterans, actively serving military personnel and surviving spouses of veterans

• Qualify with suitable credit, adequate income and valid Certificate of Eligibility

• Borrow up to 100% with no money down and no mortgage insurance requirement

• Veterans can refinance through the IRRRL (streamline refinance)

• Can include cost of remodeling up to 103.15% appraised value

Jumbo Mortgage Loan

• Financing for high-priced and luxury homes

• Good option for self-employed buyers

• Available for primary residences, second homes and investment properties

• Flexible down payment minimum of 5% on loans up to $2 million

• Mortgage insurance is not required

• Jumbo cash out refinances up to 95% loan to value with no mortgage insurance

Reverse Mortgage Loan

• Borrower remains the owner of the home

• Can stay in your home without ever making another monthly mortgage payment

• With a Reverse Mortgage, the borrower receives funds payable when the last borrower leaves

• Borrowers must occupy the property as their principal residence

• Protection against a declining housing market

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