Home Loan Options with NeighborWorks Waco
At NeighborWorks Waco, we are a full-service mortgage lender committed to helping you find the right mortgage solution for your homeownership journey. Whether you’re a first-time homebuyer, a veteran, or looking for a rural home loan, we offer a variety of mortgage programs to fit your needs. Explore our loan options below and find the best fit for your future home.
VA Loans – Honoring Those Who Serve
VA loans are backed by the U.S. Department of Veterans Affairs and are designed to help veterans, active-duty service members, and eligible surviving spouses purchase or refinance a home. With no down payment required, competitive interest rates, and no private mortgage insurance (PMI), VA loans make homeownership more affordable for those who have served our country.
Key Benefits:
- No down payment required
- No private mortgage insurance (PMI)
- Competitive interest rates
- Flexible credit requirements
FHA Loans – Ideal for First-Time Homebuyers
FHA loans, insured by the Federal Housing Administration, are a great option for first-time homebuyers or those with lower credit scores. These loans feature lower down payment requirements and more flexible qualification guidelines, making it easier for borrowers to achieve homeownership.
Key Benefits:
- Low down payment (as low as 3.5%)
- More lenient credit score requirements
- Government-backed security for lenders
- Allows higher debt-to-income ratios
Conventional Loans – Flexible and Competitive
Conventional loans are not insured or guaranteed by the government, making them a great choice for borrowers with strong credit and financial stability. They offer competitive interest rates and a variety of term options, making them a popular choice for many homebuyers.
Key Benefits:
- Competitive interest rates
- Flexible loan terms (fixed or adjustable rates)
- No upfront mortgage insurance with a 20% down payment
- Suitable for primary residences, second homes, and investment properties
USDA Loans – Affordable Rural Home Financing
USDA loans, backed by the U.S. Department of Agriculture, are designed to help low-to-moderate-income borrowers purchase homes in eligible rural areas. With no down payment required and low mortgage insurance costs, this loan option makes homeownership more accessible for families in rural communities.
Key Benefits:
- No down payment required
- Reduced mortgage insurance costs
- Competitive interest rates
- Designed for homes in eligible rural areas
Let’s Find the Right Loan for You
At NeighborWorks Waco, we’re here to guide you through the mortgage process and help you choose the best loan for your needs. Whether you’re a first-time buyer, a veteran, or looking for a rural home loan, our team is ready to assist you.
Contact us today to get started on your journey to homeownership!
“Consumers wishing to file a complaint against a company or a residential mortgage loan originator should complete and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the department’s website at www.sml.texas.gov. A toll-free consumer hotline is available at 1877-276-5550.
The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.sml.texas.gov.”
Know Your Rights Under Title VI and 504
Title VI of the Civil Rights Act of 1964 is a federal law that prohibits discrimination based on race, color, or national origin in programs and activities that receive federal financial assistance1. Any agency receiving federal money cannot discriminate on the basis of race, color or national origin2. The law provides that no person in the United States shall, on the ground of race, color, or national origin, be excluded from participation in, be denied the benefits of, or be subjected to discrimination under any program or activity receiving federal financial assistance3.
In accordance with federal laws and U.S. Department of the Treasury policy, this organization is prohibited from discriminating on the basis of race, color, national origin, sex, age, or disability. To file a complaint of discrimination, write to: U.S. Department of the Treasury, Director, Office of Civil Rights and Equal Employment Opportunity 1500 Pennsylvania Avenue, N.W., Washington, DC 20220; call (202) 622-1160; or send an e-mail to: crcomplaints@treasury.gov.
If you feel you have been discriminated under Title VI please contact Delisa Burnell-Smith, Vice President and Chief Operating Officer at 254-752-1647 or email at dsmith@nw-waco.org for more information on how to file a complaint.
