Loan Types
• 3.5 % down payment
• Purchase, Owner Occupied
• 620 minimum FICO required
• 6% maximum seller concessions
• Maximum loan amount $403,650
FHA
Conventional
• 680 FICO on conforming conventional
• 3% Down Payment available to 1st time homebuyer’s
• 3% Maximum Seller contribution
• Max Loan Amount- $548,250
• 5% Down Payment
• 100% Financing
• Purchase & Refinance
• 620 minimum FICO required
• 4% maximum seller concessions
• No max loan amount
• Available to Active Duty Military & Veterans
• TX Vet Options Available - minimum 30% Disability
VA
USDA
• Purchase, Owner Occupied
• Fixed-rate
• 640 minimum FICO
• 6% maximum seller concessions
• Property must be in a designated rural area to be eligible
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620 minimum credit score
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Assisted Mortgage Loan- Down Payment Assistance up to 5% of the Mortgage Loan
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Max purchase price $349,247
TDHCA
TSAHC
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620 minimum credit score
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Assisted Mortgage Loan- Down Payment Assistance up to 5% of the Mortgage Loan
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Max purchase price $349,247
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Homes for Texas Heroes Program
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Offered as a grant or 3-year deferred forgivable second lien. No payments on second lien and after 3 years DPA is forgiven and removed.
*Certain restrictions may apply. All approvals subject to underwriting guidelines. Not all applicants will qualify. Pilgrim Mortgage LLC is not affiliated with or acting at the direction of any government agency or government sponsored entity.