Finding Financing in a Tough Mortgage Market

Categories: LGI Homes
home financing

You’ve undoubtedly read or seen news reports about how tight financing conditions are frustrating millions of homebuyers in their attempts to secure a mortgage. The coverage makes much of the fact that these homebuyers—who have stellar credit—are considered too risky for a mortgage, because they are unable to put 20 percent down on the purchase of their home. Although interested in buying a home, you may have seen these stories and thought to yourself, “If they can’t get a mortgage, I certainly couldn’t get one either!” Figuring you’d never be able to secure a mortgage, you may have thought that fulfilling your dream of homeownership just wasn’t in the stars. But this isn’t necessarily true.

If you’ve been weighing your options and decided that buying a home now seems like the right move for you, LGI Homes is here to show you that your goals don’t have to be derailed by bad mortgage news. Instead, smart buyers just like you are moving into brand-new homes, financed through low-rate mortgages that require little to no money down. We know, because we’re helping them do it every day, in many of our new home communities across the state of Texas.

When you hear about today’s tight lending market, much of that coverage pertains to private lenders, who don’t operate within the confines of loans backed by the Federal Housing Administration, or FHA. FHA loans are popular with first-time and moderate income buyers, because they require downpayments of only 3.5 percent, and have lending terms that are more lenient for individuals with prior credit troubles. LGI Homes has extensive experience helping home shoppers qualify for FHA loans, and our on-site mortgage specialists can answer any questions you may have about the process.

In addition to FHA loans, many homebuyers are taking advantage of USDA home loan programs that allow buyers to purchase a home with absolutely no money down. The USDA program incentivizes development in rural areas with populations of less than 20,000 people. Many of our LGI Homes communities, while conveniently located near major metropolitan areas, are situated in just these types of locations. Interested homebuyers can find financing through the USDA that requires no downpayment, has no maximum on house purchase price, and has lenient terms on funding for closing costs. LGI Homes has helped hundreds of homeowners secure USDA-backed financing for their brand-new homes… why not you?

To find out more about LGI Homes can help you finance your purchase of a beautiful and brand-new home, just contact us.

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