Get pre-qualified fast, compare rates, and buy your Carrollton home with ease
Carrollton blends convenient DFW access with suburban comfort, tree-lined neighborhoods, excellent parks and trails, highly regarded schools, and quick commutes via I-35E, the President George Bush Turnpike, and DART. You’ll find everything from established single-family homes near Josey Ranch to newer builds around Indian Creek and Hebron, plus a growing townhome and condo scene. In a competitive North Texas housing market, selecting the right home loan helps you secure value, protect your budget, and move with confidence.
Buying or refinancing a home in Carrollton is a big step—and you deserve a local mortgage team that fights for your best rate and walks with you every step of the way. At The Texas Mortgage Pros, we blend 20+ years of Texas lending expertise with personal service and transparency, helping you move into your dream home or save money on your refinance with confidence and peace of mind.
You have several options designed for different credit profiles, down-payment goals, property types, and price points. Below is a brief overview of the most common programs along with their benefits and typical eligibility requirements.
Conventional conforming loans are ideal when you have solid credit and a moderate down payment. You can put as little as 3% down (for eligible first-time buyers) and avoid mortgage insurance once you reach 20% equity. Rates are risk-based, so stronger credit and lower debt-to-income ratios help you qualify for the best pricing. In Carrollton’s mid-to-upper-middle price ranges, conventional financing often delivers the lowest long-term cost of ownership.
If you have a steady income, a solid credit profile (typically 620+), and manageable monthly obligations, you’ll generally qualify for a conventional conforming loan. First-time buyers may start as low as 3% down, and you can request the removal of private mortgage insurance once you reach 20% equity. The advantage is long-term cost control: strong credit and lower debt-to-income ratios help you lock in better pricing, and you’re free from lifetime mortgage insurance. In Carrollton’s mid-price segments, conventional financing often delivers the lowest total cost over time.
FHA mortgages make homeownership accessible with flexible underwriting and down payments as low as 3.5% (with qualifying credit). FHA allows higher debt-to-income ratios and can be more forgiving of limited credit history or past credit challenges. Upfront and monthly mortgage insurance apply, but refinancing later can remove them if you move to a conventional loan.
FHA is designed for approachability. If your credit is still growing or your debt ratio is a bit higher, you can often qualify with a score of 580 or higher and 3.5% down (or 10% down with lower scores). The advantage is flexibility; FHA is more forgiving of limited credit history and past hiccups, helping you get into a Carrollton home sooner. While FHA includes upfront and monthly mortgage insurance, many homeowners refinance to a conventional loan later to remove the MI once equity grows.
Backed by the U.S. Department of Veterans Affairs, VA loans offer zero down financing, no monthly mortgage insurance, and competitive rates. You’ll need a valid Certificate of Eligibility and must plan to occupy the home as your primary residence.
If you’re an eligible veteran, active-duty service member, or qualifying surviving spouse with a valid COE and plans to live in the home, VA financing is one of the most powerful options available. The advantage is clear: zero down payment, no monthly mortgage insurance, and competitive rates. That combination can lower your payment significantly and strengthen your offer in competitive North Dallas suburbs like Carrollton.
USDA loans offer zero-down financing and reduced mortgage insurance for homes in designated eligible areas and for borrowers with qualifying incomes. While most of central Carrollton is too urban for USDA, the nearby outskirts in parts of northern Denton or Collin County may qualify. This is useful if you’re open to communities just beyond city limits.
USDA loans require the property to be in an eligible area and your household income to fall within program limits. While most addresses inside Carrollton aren’t eligible due to urban density, nearby pockets on the outskirts may qualify. The advantage is the potential for zero down and reduced mortgage insurance, ideal if you’re flexible on location and want to keep upfront costs low while staying within commuting distance of Carrollton’s employers and amenities.
Financing is available for eligible HUD-code manufactured homes on permanent foundations, with the house titled as real property (not chattel). FHA, VA, and some conventional programs are available depending on credit, down payment, and home specifications (year, size, and installer documentation).
To finance a manufactured home, it must be a HUD-code property on a permanent foundation, titled as real property, and meet lender age/condition guidelines. You’ll verify installation and provide standard income/credit documentation; FHA, VA, and some conventional paths may be available. The advantage is affordability: eligible manufactured homes can offer more space for the price, and with the correct setup, you can use mainstream mortgage programs rather than chattel loans, often resulting in better terms.
When your price exceeds annual conforming loan limits, jumbo financing steps in. Jumbo lenders typically require higher credit scores, strong reserves, and lower debt-to-income ratios. In Carrollton’s luxury segments, including larger new builds, golf-course communities, and executive homes, jumbo loans help you stay competitive with tailored terms.
Jumbo loans come into play when your price exceeds the conforming limit. You’ll typically need higher credit scores, substantial cash reserves, and a lower debt-to-income ratio, along with complete documentation of income and assets. The advantage is access to higher loan amounts with customized terms that match executive-level and luxury properties commonly found in North Dallas. With solid credentials, you can secure competitive pricing even above conforming thresholds.
Non-QM programs are beneficial when traditional income documentation doesn’t fully reveal the story. Options can include bank-statement loans for self-employed buyers, 1099-only loans, asset-qualifier loans, and DSCR loans for investors (qualifying based on property cash flow). Rates and down-payment requirements vary with risk, but guidelines are established for real-world situations every day across DFW’s entrepreneurial community.
If traditional W-2 or tax-return documentation doesn’t reflect your real earning power, Non-QM programs fill the gap. You may qualify using 12–24 months of bank statements, 1099 income, asset depletion, or (for investors) property cash flow via DSCR. The advantage is flexibility: you can match the underwriting method to how you actually earn, which is helpful for self-employed professionals, gig workers, and investors active in the DFW market. Expect higher down payments and interest rates than conventional loans, trading some price for the ability to qualify.
You replace your current mortgage with a new one that’s larger than your existing balance and take the difference in cash. Homeowners in Carrollton use cash-out refinancing to consolidate higher-interest debt, fund renovations, or build reserves. Lenders evaluate equity, credit, and debt-to-income ratios; maximum cash-out and loan-to-value limits depend on the loan type and property occupancy.
If you want to access equity for renovations, debt consolidation, or reserves, you’ll replace your loan with a larger one and receive the difference in cash, subject to loan-to-value and program limits. The advantage is liquidity at mortgage rates, often far below consumer credit, so you can fund projects common in Carrollton’s established neighborhoods (think roof, HVAC, or kitchen updates) while keeping one predictable payment.
You replace your mortgage without pulling cash to improve your rate, adjust your loan term (e.g., 30-year to 15-year), or remove mortgage insurance. This can lower your payment, shorten payoff time, or reduce total interest. It’s a clean way to fine-tune your mortgage strategy if you have strong equity and don’t need cash.
If your goal is a better rate, a shorter/longer term, or removing mortgage insurance, you’ll qualify based on equity, credit, and debt-to-income, without taking cash out. The advantage is pure optimization: lower your payment, reduce total interest, or accelerate payoff (e.g., moving from a 30-year to a 15- or 20-year) without increasing your balance.
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Across Carrollton’s footprint (Denton, Dallas, and Collin counties), property taxes and HOA dues can vary by neighborhood and school district, and condo warrantability can affect your loan type. Getting pre-approved early helps you price these variables into your payment, compare programs accurately, and write a stronger offer in fast-moving DFW suburbs.
Call us at (877) 280-4833 when you’re ready to start your application. You’ll receive clear numbers, fast updates, and expert guidance from the initial estimate to the final keys.
Q: What’s the best loan for first-time buyers in Carrollton?
A: If you need flexible credit and a low down payment, FHA is a strong fit. With 3% down and solid credit, Conventional can lower long-term costs by removing PMI later. VA offers unmatched benefits for eligible borrowers. A quick pre-approval clarifies which option gives you the strongest offer.
Q: Can I use a USDA loan to buy in Carrollton?
A: Most addresses inside Carrollton are not USDA-eligible due to urban density. However, nearby rural-designated zones north of the city may qualify. If zero down is important, we’ll map eligibility and compare USDA with low-down FHA and Conventional options.
Q: How do jumbo loans differ for higher-priced Carrollton homes?
A: Jumbo loans exceed conforming limits and typically require higher credit scores, larger reserves, and tighter debt-to-income ratios. They’re common for executive-level homes and new luxury builds across North Dallas suburbs.
Q: What documents do I need for a Non-QM (bank-statement) loan?
A: Expect 12–24 months of personal or business bank statements, proof of assets, valid ID, and property details. Lenders average deposits to determine qualifying income, helpful for self-employed buyers and 1099 earners in DFW’s thriving small-business economy.
