Mortgage Programs for Texas Homebuyers
There is no universally best mortgage program — only the one that fits your credit, your cash, your location and your plans. Here is how the four main options differ.
The four programs most Texas buyers compare
Conventional
The largest category, available as low as 3% down for qualifying buyers. Most score-sensitive of the four, but mortgage insurance can typically be removed once equity requirements are met — often the lowest long-run cost for buyers with strong credit.
FHA
Flexible credit guidelines and a low down payment, with mortgage insurance that usually stays for the life of the loan. A common landing spot for credit-rebuilding buyers.
USDA
0% down in eligible areas with household income limits. Excellent for buyers willing to look outside the urban core.
VA
0% down and no monthly mortgage insurance for eligible veterans and service members. Usually the strongest option when eligibility exists.
How to compare them honestly
- Cash required at closing, not just the down payment percentage
- Total monthly payment including taxes, insurance and mortgage insurance (PITI)
- Whether mortgage insurance ever goes away
- How the program treats your specific credit profile
- Whether the property and location are eligible
- Which assistance programs can layer on top
Getting a real answer
A side-by-side comparison of actual numbers requires a licensed loan officer reviewing your documents. Nothing here states or implies that you qualify for any program.
Everything on this page is general homebuyer education. Mortgage eligibility is subject to program guidelines, lender requirements, underwriting and borrower-specific circumstances — it is never decided by an article.