Arlington, situated conveniently between Dallas and Fort Worth, is a dynamic city known for its lively entertainment district, world-class sports venues, and family-friendly attractions like Six Flags Over Texas. The current housing market is somewhat competitive, with median home prices around $330,000, offering buyers slight negotiating leverage. With diverse loan options, from FHA and VA to conventional and Non-QM, Arlington provides ample opportunities to find financing tailored to your needs.
Thinking about making Arlington, Texas, your home? You’re making a fantastic choice! With vibrant neighborhoods, great schools, and diverse job opportunities, Arlington offers the perfect setting to put down roots. But before you start unpacking boxes, you’ll need to understand the home loan options available. Let’s break down your financing choices clearly and simply, so you feel confident stepping into homeownership.
"*" indicates required fields
Arlington isn’t just conveniently located between Dallas and Fort Worth; it’s a thriving city with its own identity, offering everything from entertainment to top-rated educational institutions. Buying a home here is more than just an investment; it’s a lifestyle choice that provides lasting value and community connection.
Conventional Loans
Ideal if you have a strong credit history and stable income, conventional loans typically require a down payment ranging from 5% to 20%. The good news is, once you build enough equity (usually around 20%), you can eliminate Private Mortgage Insurance (PMI), lowering your monthly payments.
Perfect for first-time homebuyers or those rebuilding their credit, FHA loans offer a down payment as low as 3.5%. These loans also have flexible credit requirements, making it easier to qualify even if your credit isn’t perfect.
Thinking about building your dream home from scratch in Arlington? Construction loans cover your home-building costs from start to finish, then conveniently convert to a permanent mortgage when construction wraps up.
Surprisingly, parts of Arlington qualify for rural housing development loans, offering zero-down financing and competitive rates for moderate-income buyers looking in eligible suburban and rural areas. It’s a hidden gem if you meet the location and income criteria.
If your financial situation doesn’t fit traditional lending criteria, perhaps you’re self-employed or have a unique income structure, Texas Non-QM loans can help. They provide flexible underwriting based on your actual cash flow and assets rather than conventional income verification methods.
With flexible financing specifically tailored for manufactured homes, these loans make affordable homeownership achievable, offering reasonable rates and manageable payments.
Already own a home? Refinancing your mortgage through rate-and-term or cash-out options could lower your monthly payments, shorten your loan duration, or free up home equity for improvements or other expenses.
Begin by meeting with a local lender to discuss your finances, determine your budget, and receive a pre-approval letter, strengthening your position when making offers.
With a pre-approval, confidently explore homes in Arlington that match your criteria, and make competitive offers to secure your chosen property.
After your offer is accepted, update and finalize the application for your home loan by submitting the necessary documents, including income, assets, credit reports, and identification.
Your lender arranges for an appraisal to confirm the home's value, while you inspect to ensure there are no hidden issues.
The lender reviews your application, the appraisal report, and financial information thoroughly to finalize loan approval.
Complete the process by signing all necessary documents at closing, after which the home officially becomes yours.
Ready to start your Arlington home-buying adventure? Call us at (877) 280-4833 to connect with our local mortgage experts today who understand your needs and can help you secure the best financing option. Your dream home is closer than you think!
Testimonials
The Texas Mortgage Pros is proud to serve homebuyers across the city and surrounding areas. Whether you’re just starting the loan process or need expert advice, our local team is here to help with personal guidance, fast service, and competitive loan options for Arlington’s real estate market.
The content provided within this website is presented for information purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply.
