Every home loan Central Texas needs - explained in plain English.

Best for

Buyers with strong credit and income buying a primary or second home

The standard 15-, 20-, or 30-year fixed or ARM mortgage. Best rates go to borrowers with 740+ credit and 20% down, though 3 - 5% down programs exist for qualified buyers.

• Fixed or adjustable rate options
• As little as 3% down for qualified first-time buyers
• PMI required under 20% down, drops off at 20% equity
• Loan limits up to $806,500 in most Central Texas counties (2026)

Best for

Homeowners with a current mortgage looking to lower the rate or shorten the term

Replace an existing mortgage with a new one at a better rate, shorter term, or both. Makes sense when the break-even on closing costs is comfortably inside your remaining time in the home.

• Lower monthly payment or pay off the loan faster
• Typical break-even: 24 - 48 months on closing costs
• No cash back to borrower beyond a small refund
• Full income, credit, and appraisal underwriting required

Best for

Homeowners with strong income who need a lump sum for a specific purpose

Replace the current mortgage with a larger one and take the difference in cash. A full income-qualified loan - useful for major home improvements, debt consolidation, or education costs.

• Access equity in one lump sum at closing
• Fixed monthly payment, predictable payoff schedule
• Requires income, credit, and appraisal qualification
• Typically caps out at 80% of home value

Best for

Homeowners who want flexible short-term access to equity with an active income

A revolving line of credit secured by the home. Draw what you need, pay interest only on what you use, and repay on the lender's schedule. Variable rate - and the lender can freeze or reduce the line.

• Variable interest rate, tied to Prime
• Interest-only draws during 5 - 10 year draw period
• Repayment period follows (typically 10 - 20 years)
• Lender retains the right to freeze or reduce the line

Best for

Eligible veterans, active-duty service members, and qualifying surviving spouses

One of the strongest loan products in the country for those who qualify: no down payment, no PMI, and competitive rates. Central Texas has one of the largest veteran populations in the state.

• 0% down on primary residence purchases
• No private mortgage insurance
• Competitive rates and flexible credit standards
• Reusable entitlement - can be used more than once

Best for

Buyers of higher-value Austin, Westlake, or Lake Travis homes above conforming limits

For loan amounts above the conforming limit ($806,500 in most Central Texas counties for 2026). Stricter reserves, credit, and DTI requirements - but rates are often competitive with conventional loans.

• Loan amounts above $806,500 (2026 Central Texas conforming)
• Typically requires 700+ credit and 6 - 12 months reserves
• 10 - 20% down depending on program
• Both fixed and ARM structures available

Best for

First-time buyers and borrowers with lower down payments or credit challenges

A government-backed loan with flexible credit and down payment requirements. Ideal for first-time Central Texas buyers who need more forgiving qualification standards than a conventional loan allows.

• As little as 3.5% down with 580+ credit score
• More flexible DTI and credit than conventional
• Assumable by future buyers - a real advantage in a high-rate market
• Mortgage insurance (MIP) required for most terms

Best for

Buyers purchasing in eligible communities outside the Austin metro core

0% down financing backed by the USDA for eligible properties in rural and semi-rural Central Texas towns. Many communities within an hour of Austin qualify - the map is broader than most buyers expect.

• 0% down payment on eligible properties
• Income limits based on county and household size
• Below-market fixed rates, 30-year term
• Property must be in a USDA-eligible area

Best for

Borrowers who don't fit inside traditional agency guidelines

Non-Qualified Mortgages use alternative documentation and flexible underwriting for self-employed borrowers, real-estate investors, foreign nationals, recent credit events, and other situations agency loans can't approve.

• Alternative income documentation available
• More flexible after bankruptcy, short sale, or foreclosure
• Interest-only and 40-year term options on some programs
• Higher rates than agency loans - but the deal actually closes

Best for

Real-estate investors buying or refinancing rental properties

Qualification is based on the property's rental income (Debt Service Coverage Ratio) instead of the borrower's personal tax returns. The most common tool for scaling a rental portfolio in Central Texas.

• No personal income, tax returns, or DTI review
• Qualify on the property's own rent-vs-payment ratio
• 1 - 4 unit residential and small multifamily eligible
• Close in an LLC - keep investment activity separate

Best for

Self-employed borrowers, 1099 contractors, and business owners

Uses 12 - 24 months of personal or business bank deposits to establish income - no tax returns required. Built for entrepreneurs whose Schedule C or K-1 income understates their true cash flow.

• 12 or 24 months of bank statements in place of tax returns
• Personal or business accounts accepted
• Purchase, rate/term, and cash-out refinance available
• Common for real estate agents, consultants, and small-business owners