Every major loan type,
one brokerage.

First-time homebuyer isn't a single loan — it's a category, a stack of programs designed around the realities of buying with limited savings or shorter credit history. The combinations that matter: - FHA (3.5% down, low credit floor) paired with a Texas DPA program for the down payment - Conventional 97 (3% down) for stronger credit profiles wanting faster PMI removal - HomeReady / Home Possible — Fannie and Freddie programs with reduced PMI for income-qualifying buyers - VA (0% down) for eligible veterans, active duty, and qualifying reservists Which combination fits depends on credit, income, location, and how much cash you have. We map it on a 15-minute call, then run real underwriting on the file before any letter leaves the desk.

Conventional loans follow Fannie Mae and Freddie Mac guidelines. Most Texas purchases under the 2025 conforming limit (~$766K) fall into this category. Qualifying is stricter than government-backed loans, but with strong credit and adequate down payment, conventional offers the most favorable rates on the market. If your down payment is under 20%, PMI (private mortgage insurance) is added to the monthly payment but can be removed once you reach 20% equity. Most conventional purchases close within 30 days.

FHA loans are insured by the Federal Housing Administration and designed for buyers with limited savings or shorter credit histories. The 3.5% minimum down payment and softer credit requirements make this the most common starting point for first-time buyers. The trade-off is MIP — for loans with under 10% down, the mortgage insurance premium stays for the life of the loan. A common play is to refinance into a conventional loan once you have 20% equity to drop the MIP.

VA loans are guaranteed by the Department of Veterans Affairs and offer the strongest terms available to qualifying service members. The headline benefits — zero down payment and no PMI — make homeownership accessible without years of saving. Where VA gets tricky is in the details: tiered funding fees by service category and prior use, the Certificate of Eligibility (COE) process, Minimum Property Requirements (MPRs) the appraiser will check, and seller-paid concession rules. Mistakes here delay closings or kill deals — which is why VA is one of the programs we work the hardest to know cold. We pull your COE, walk you through entitlement, and shop the rate sheets that price VA most aggressively. If the home flags MPRs, we line up the repair amendment so the deal stays alive.

Jumbo loans cover purchases above the Fannie/Freddie conforming limit, common for higher-priced homes in Houston, Austin, and Dallas. They require stronger credit and reserve assets than conventional, but allow you to finance more in a single loan. Jumbos used to carry higher rates than conventional, but for top-tier borrowers, today they often match or beat conventional pricing. Closewiser shops multiple jumbo lenders to find the best fit.

DSCR loans are designed for real estate investors. Qualification is based on the property's rental income against its mortgage payment (the DSCR ratio) — no W-2s, tax returns, or personal income verification required. Down payment is typically 20–25%, and rates run a bit above conventional. The major advantage is LLC title, which keeps the property separate from your personal assets. Closewiser compares multiple DSCR programs to find the lender that fits your ratio and pricing best.

ITIN loans serve borrowers who don't have a Social Security Number — common for resident foreign nationals. Down payment and rates run a bit higher than conventional, but the path to homeownership is real and properly documented. Typically you'll need two or more years of ITIN tax filings, U.S. credit history, and asset documentation. Closewiser supports the application bilingually and shops ITIN-friendly lenders for the best terms.

Bank Statement loans are built for self-employed borrowers, freelancers, and 1099 contractors whose tax-return income is low (because of deductions) but whose actual cash flow is strong. Qualification uses 12 or 24 months of personal or business bank deposits instead of tax returns. Rates run a bit above conventional, but qualifying is far more flexible. This is often the best option for business owners who optimize their tax filings aggressively but still earn well.

DPA programs come from the State of Texas (TSAHC, TDHCA) and select cities and counties, including Houston. They cover part of your down payment and closing costs through grants (no repayment) or second mortgages (forgiven after a residency period). Most programs target first-time buyers or households below an income limit, though some are open to any buyer. Stackable with FHA or conventional financing to bring out-of-pocket cost close to zero. We help you check eligibility and walk through the application.