Odessa TX Mortgage Loans

If you are looking to purchase a home in Odessa you will first need to get pre-approved for a mortgage loan. Life is much easier if you get pre-approval before you start your search, as it will provide you with the opportunity to know you buying budget and have peace of mind. Obtaining an Odessa home loan is not as complicated as you would think. At Venta Mortgage we offer a few varieties of home loans that make the process of getting into the right mortgage easy.

FHA Loans

An FHA loan is a great opportunity to purchase a home with a low down payment. Only requiring the minimum of 3.5%, you can save thousands on your home purchase at closing. Another great fact about FHA loans is the qualification process is usually a bit easier than a conventional loan, in that if you are a first time home buyer, you may not need credit and the minimum score is usually between 580-640 for others. Later, if rates drop and you have been in the home for awhile, you may be eligible to lower your rate with an FHA Streamline Refinance.

VA Loans

The best Odessa home loan program for Veterans, a VA loan is an opportunity for vets to get financed up to 100% of their home purchase. There are some pre-qualifications you must obtain before being considered, including a Certificate of Eligibility from the Veterans Administration. Venta mortgage can help you throughout the process.

Conventional Loans

If you are purchasing a second home or other property that you won’t occupy, you should get a conventional loan. This is also a great option for those seeking an Odessa home loan and have excellent Credit scoring as most often you can secure a great interest rate. You can also borrow a larger amount for your home than some other loan programs.

Odessa Mortgage Refinance

If you currently own a home in Odessa, TX, you may qualify to get a better mortgage interest rate to lower your payments. Venta Mortgage offers a variety of Odessa mortgage refinance opportunities to help you with your refinancing needs.

FHA Streamline Refinance

If you currently have an FHA loan, there is a refinance program that offers you the option to refinance your home without the headache of re-appraising the value of the home, providing income verification or credit again. With an FHA Streamline refinance the refinance process is much shorter and easier. You can lower your mortgage rate but you are not able to take any cash out of the equity in your home.

VA Streamline Refinance

If you have a VA loan already, there is also a VA Streamline Refinance loan that is similar to the FHA Streamline refinance. With this kind of refinancing you also do not have to provide all of the same verifications that you did for the purchase, and you may not get any cash out of the equity in your home.

Conventional Refinance

If you have another type of home loan or need more options than just lowering your payment and interest rate, a conventional refinance offers the opportunity for getting cash out of your home equity, changing from an adjustable to fixed rate mortgage and lowering your interest rate. Although you will have to go through the full process for refinancing this type of loan is ideal for those who need more options than just a rate reduction.

Your Odessa Mortgage Company

Venta Mortgage provides local home loan services in Odessa, TX. Rest assured that not only is our company located locally, but also live in the area. We know all about Odessa and would be proud to offer our services to our neighbors as your Odessa mortgage company.