Why Should You Choose Us?
With so many lending solutions out there, South Texas Lending truly does things differently. Our dedicated team helps streamline the loan process to make it much easier for you, the client. As a San Antonio Mortgage lender, Some of our highlighted focuses are:
- Purchase New Home
- Get Pre-Approved
- Refinancing Your Home
- Debt Consolidation Refinance
- 203k Rehab Loans
- Mortgage Loan Experts
Voted Best San Antonio Mortgage Lender
CEO At STX Lending
Our Core Services
Whether you want to get pre-approved or looking to consolidate debt, we have several loan programs that are designed to fit your exact needs. No credit history? Thats okay too.
Purchase New Home
With a underwritten pre-approval to win your offer and compete with Cash Buyers
- Full Credit Pre Approvals
- Lowest Rate Gauranteed or we pay you
- Daily Communication with support
- Support for your Realtor and all parties
Refinance You Home
Save on your monthly payment, Get rid of PMI or even take cash out for investments
- Close your Refi in 15 Business days
- Minimal Closing Costs
- Full Transparency in all Disclosures
- Unquestionable Integrity
Consolidate your Debt
With a Cashout Refinance or HELOC (Home equity line of credit), you can pay off debt.
- Quick Loan Process to get funded
- Dedicated Team for your Loan
- Truthfulness in our business
- Pay off Cards at Closing
CLOSED MORTGAGE LOANS in 2021
% of all Proceeds Donated
VETERAN HOMES COMPLETED
Friendly Tips when buying a home
Grow Family Wealth
Building equity in a home your purchase creates financial Security
Many familes we help tell us the best memories are made in the home they buy
Join an HOA
Home Owners Associations can be a great way to meet new friends
Paying extra on your monthly payment can take years off your Mortgage
Get Tax Benefits
Be sure to write off the mortgage interest paid through the year for a Tax Benefit
On time payments will increase your Credit Score and allow for better financing terms in the future
How Do You Qualify For A Loan?
The typical process involves submitted a mortgage application with the lender of your choice. Once you do that, you'll then have to uploads the last 30 days of your paystubs, your most recent W-2 if employed and tax returns if your self-employed. Once complete, your loan officer will submit your loan file to underwriter where a mortgage underwriter will review all documents received and will issue a formal loan approval! Any outstanding needs will be coordinated to get your loan closed fast and streamlined.
What is the best type of loan to get?
The best loan program will greatly depend on your current credit score and financial situation (Income to qualify and what your down payment would be) If you have above a 700 fico and putting at least 5% down, most of the time conventional might be the best route to go. For a credit score of 660 or lower and wanting only a 3.% down payment, an FHA loan will likely offer better terms than conventional. If you previously served in the military, a VA loan can give you 100% financing with no down payment and no PMI either. For Self employed borrowers that have large amount of write off's, a bank statement could be the best solution for you.
Can You Get A Mortgage Without A Credit Score?
Most secondar Markets will not purchase a QM (Qualified Mortgage) loan if all borrowers on a loan do not have any credit history at all. Fannie Mae and Freddie as of June 2022 just came out with new guidelines that allow 12 mo' of rental history to be a compensating factor to be included for borrowers that do not have a credit score. If you don't think you have any credit history, call our mortgage hotline to talk to a loan officer and see what alternative options there are.
Difference between Conventional and FHA?
The biggest difference between a conventional loan and an FHA loan is that an FHA loan will yield a better interest rate, although your MIP (Mortgage insurance Premium), same as PMI will not be removed for the life of the loan. For Conventional, once you reach 20% equity or an 80% LTV (Loan to Value), then mortgage insurnace per the loan servicer is required by law to remove it from your payment. In order to get rid of Mortgage insurance on an FHA loan, you will have to indeed, do a Mortgage refinance.
How much will be Housing Payment be?
Your Mortgage payment will consist of these four main elements : Principal & Interest , Taxes , Home Insurance and Mortgage Insurance (if putting less than 20% down). Selecting and shopping for the best interest rate as well as your down payment make the largest impact to your total monthly mortgage payment becoming smaller or larger from projections.
What credit score do I need to get approved?
For Conventional loans, you will typically need at least a 620 credit score. FHA and VA do let you go down to a 550 credit score, but some lenders put restrictions on this and will often times tell you it is 620 for government loans as well, which is lender specific. Most Lenders In texas, follow Guideline Minimums. USDA min is 580