San Marcos, TX
Home Loans in San Marcos for Buyers, Veterans and Investors
We arrange conventional, FHA, VA and USDA loans for buyers, plus HELOCs for equity, and bank statement, bridge and hard money loans for self-employed borrowers and investors. Borrowers in San Marcos, Kyle and New Braunfels meet with us at our office or by phone and video, and get every fee and coverage requirement explained in writing.
- Phone and video meetings
- Line-item fee explanations
- Pre-approval letters in writing
- Eight loan programs
Loan Programs We Arrange
Each loan program has its own rules for down payment, credit, income documentation and monthly premiums, and the right fit depends on the borrower more than the rate sheet. We bring 11 years in the mortgage industry to sorting those rules out with you. First-time buyers often start with FHA or conventional loans, veterans with VA loans, and buyers outside the city core with USDA loans. Self-employed borrowers and investors usually look at bank statement, bridge or hard money loans, and owners with built-up equity look at a HELOC.
Conventional Loans
Fannie Mae and Freddie Mac loans for buyers and refinancers with steady credit, as little as 3% down for some buyers, and PMI you can drop later.
FHA Loans
Federally backed financing with a smaller down payment and more room on credit, explained line by line before you commit.
VA Loans
VA purchase and refinance loans for eligible veterans, service members and surviving spouses, with no monthly mortgage insurance and no down payment when entitlement allows.
USDA Loans
A government-guaranteed home loan with no down payment for buyers whose address and income fit USDA rural program rules.
HELOC
A revolving line of credit against the equity in your Texas homestead, with the 80% combined limit, draw rules and variable rate explained up front.
Hard Money Loans
Short-term, asset-based financing for investment property that a bank won't fund yet, with rehab draws and a clear plan to pay it off.
Bank Statement Loans
A home loan for self-employed borrowers that measures income from 12 or 24 months of bank deposits instead of the net figure on your tax returns.
Bridge Loans
Short-term financing secured by the property you own now, so you can buy the next one before the first sale closes.
Where We Lend in Hays County and Nearby
We arrange home loans for borrowers buying or refinancing in San Marcos and the surrounding area. That includes Kyle, Buda and Redwood, along with Wimberley, New Braunfels and Lockhart. Since we meet by phone and video as well as in person, distance from our office does not slow your loan down.
- San Marcos
- Redwood
- Kyle
- Wimberley
- New Braunfels
- Lockhart
- Buda
Some properties outside the city qualify for USDA financing based on location. We can check eligibility for a specific address on the call.
From First Call to Closing
Most purchase loans follow the same path. Here is what happens at each stage and what we will ask you for.
- 1
Rate quote and pre-qualification
On the first call we ask about your income, debts, savings and the kind of property you want. From that we give you a rate quote and a pre-qualification range, with no documents needed yet.
- 2
Documents and pre-approval
Next we collect pay stubs, W-2s or tax returns, bank statements and permission to pull credit. Self-employed borrowers may provide 12 or 24 months of bank statements instead. Once reviewed, you get a pre-approval letter to send with your offers.
- 3
Application, appraisal and coverage
After your offer is accepted, we take the full loan application, order the appraisal and confirm the flood zone determination. You choose a carrier for the hazard policy, and we tell you exactly what coverage the lender needs on the binder.
- 4
Underwriting and clear to close
The underwriter verifies everything and may issue conditions, such as a letter explaining a large deposit. We tell you what each condition means and how to clear it quickly.
- 5
Closing
You review the Closing Disclosure at least three business days before signing and compare it to your Loan Estimate. Then you sign at the title company and receive your keys.
How We Work With Borrowers
A mortgage is a long contract with a lot of moving parts. We spend our time making those parts visible before you sign anything.
- 11 years in the mortgage industry
- Our loan officer has 11 years in the mortgage industry. That time shows up in the small things: knowing which pay stub gaps an underwriter will question, or why an appraisal came in under contract price, before either one stalls a closing.
- Hazard coverage, explained early
- Every home loan requires a hazard insurance policy before closing, and some properties also need flood coverage based on the FEMA flood zone determination. We explain what the lender requires, how the premium flows into your escrow payment and how it affects your debt-to-income ratio. That way the policy binder is not a last-week scramble. If a claim comes up later, we explain why the check may also name your mortgage servicer.
- Every line of the Loan Estimate
- We go through the Loan Estimate line by line: origination charges, discount points, title fees, prepaid interest and escrow deposits. You know which numbers are set by us, which come from third parties and which can still change.
- An honest program answer
- If a cheaper program fits you better than the one you asked about, we say so. If you would be better served waiting a few months to pay down a card balance, we say that too.
About Home Loans San Marcos
We are a small mortgage office in San Marcos that works with buyers, veterans, self-employed borrowers, investors and owners who want to refinance or draw on equity. You can meet us at our office, or handle the whole loan by phone and video if that suits your schedule better.
Our approach is simple: explain the reason behind each requirement. If an underwriter wants a second year of tax returns, or a lender wants flood coverage on a property near a creek, you should know why and what it costs you. That includes property coverage. We help borrowers understand what the lender requires before closing, and the claim paperwork tied to a mortgaged property afterward, without overpromising what any insurer will pay.
- In business
- 11 years in the mortgage industry
Common Questions From Borrowers
How much do I need for a down payment?
It depends on the program. VA and USDA loans can require no down payment for eligible borrowers, FHA loans generally start at 3.5 percent, and some conventional loans allow 3 percent for first-time buyers. You will also need money for closing costs and reserves, which we estimate for you on the first call.
What credit score do I need to qualify?
Each program sets its own floor, and lenders add their own guidelines on top. FHA is usually the most flexible, while conventional loans reward higher scores with better pricing. Tell us your approximate score and we will explain which programs are realistic and what would improve your rate.
I'm self-employed. Can I still get a home loan?
Yes. If your tax returns show strong income, a conventional loan may work. If write-offs make your taxable income look low, a bank statement loan uses 12 or 24 months of deposits to calculate income instead. The tradeoff is usually a somewhat higher rate.
Why does the lender care about the property's insurance?
The property secures the loan, so the lender requires a hazard policy that covers at least the needed rebuild amount, with the lender named as mortgagee. If the flood zone determination places the property in a special flood hazard area, a flood policy is required too. The premiums go into escrow and count toward your monthly payment.
What happens with an insurance claim on a mortgaged property?
Claim checks for damage to the structure are often made payable to both you and your mortgage servicer. The servicer may hold the funds and release them in stages as work is completed and inspected. We help you understand that process and the documents involved, such as photos and the adjuster's estimate, but we do not act as your adjuster.
How long does it take to close?
Many purchase loans close in roughly 30 to 45 days from an accepted offer. The pace depends mostly on appraisal scheduling, how quickly documents come in and any underwriting conditions. Bridge and hard money loans can move faster because they rely more on the property than on income documentation.
When should I lock my rate?
Most borrowers lock once they have an accepted contract and a closing date. We look at how far out your closing is and recommend a lock period that covers it with some cushion. If rates move before you lock, we tell you what that means for your payment.
What Moves Your Rate and Closing Costs
No two borrowers get quite the same rate, because lenders price risk from several directions at once. Here are the factors that matter most, and why each one shifts the numbers.
We quote rates and fees by phone once we know the basics of your credit, income, down payment and property. Your official Loan Estimate follows a full application, and we go through it with you item by item.
- Credit score
- Rates are priced in score bands, so a few points can move you into a better or worse tier. Recent late payments and high card utilization weigh more heavily than old history.
- Down payment and loan-to-value
- A larger down payment lowers the loan-to-value ratio, which lowers lender risk. On conventional loans, putting down less than 20 percent usually adds a monthly PMI charge until enough equity builds.
- Loan program
- FHA loans carry an upfront and an annual mortgage insurance premium, VA loans carry a funding fee for most veterans, and USDA loans carry a guarantee fee. Bank statement, bridge and hard money loans price higher because the documentation or timeline is less standard.
- Property type and occupancy
- A primary residence prices better than a second home or rental. Condos, multi-unit buildings and properties needing major work can each add conditions or cost.
- Escrow for taxes and coverage
- Hazard premiums, any required flood policy and property taxes are added to your monthly payment through escrow. A higher premium raises the payment and can change how much you qualify for.
- Points and lock period
- Paying discount points buys a lower rate up front. A longer rate lock protects you from market moves, but it can cost a little more than a short lock.
Find Out Where Your Rate Lands
A short call gets you a rate quote and a clear sense of which loan programs fit. If you are ready, we can start your pre-qualification on the same call.