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Home Loans

We offer Home Loans with competitive rates and local financing.

Why Extraco Mortgage?

We are committed to serving our local community and we’re here to help you find the mortgage loan that’s right for you. We have options available to assist you in buying a home, refinancing your current mortgage, or buying that vacation retreat.

To locate an Extraco Mortgage Loan Originator for your city, CLICK HERE or call us at 1.866.EXTRACO (398.7226) anytime during our normal business hours.

Traditional Mortgages

Conventional Loans

Conventional loans are mortgage loans that are not guaranteed or insured by a governmental agency such as the Federal Housing Administration (FHA) or Veterans Administration (VA). They come in both Fixed and Adjustable rates with flexible loan terms.

Key Considerations:
  • Great option if you will be in your home for a while
  • Terms that may let you pay off your mortgage sooner
  • You can choose from a variety of terms


Fixed Rate Mortgages 

Fixed Rate Mortgages feature predictable and steady monthly payments with flexible loan terms.

Key Considerations:
  • You’re planning to be in your home for a while
  • You’re looking for a mortgage that has a monthly payment you can rely on



Adjustable Rate Mortgages

Adjustable Rate Mortgages benefits those who need initial lower payments and interest rates.*

Key Considerations:

  • You’re planning to be in your home for a shorter term
  • You expect interest rates to remain stable or decline
  • You want a lower initial monthly payment and don’t mind a variable interest rate


*After the initial fixed term of the ARM (Adjustable Rate Mortgage) period, it is possible that the borrower’s payment may increase substantially over the remaining term of the loan.


Federal Housing Administration (FHA) Loans

An FHA loan is the perfect government-insured loan option if you are looking to refinance or buy a home with a low down payment.

Key Considerations:

  • You want to buy a home with a low down payment
  • You’re a first time homebuyer
  • You have a qualifying income
  • You want to refinance your existing loan at a lower rate
  • Sellers can pay closing costs up to an amount equal to 6% of the sales price/value
  • You have a less than perfect credit score




Specialized Mortgages

Veteran Affairs (VA) Loans

A loan specific to our veterans with little to no down payment.*

Key Considerations:

  • You’re a U.S. Military Veteran*
  • You’re currently serving in the military or military reserves
  • You may be eligible if you are a commissioned officer of the Public Health Service


*Subject to VA eligibility review. Surviving spouses of veterans may also be eligible.


Jumbo (Non-Conforming) Loans

For those who like to dream big and need mortgage amounts over $453,100 we offer Jumbo loans.

Key Considerations:

  • You want to borrow more than $453,100 and up to $2 million
  • Fixed rate and ARM* loans available


*After the initial fixed term of the ARM (Adjustable Rate Mortgage) period, it is possible that the borrower’s payment may increase substantially over the remaining term of the loan.

Texas Veteran Land Board Loans

In 1983, the Legistlature created the VLB Veterans Housing Assistance Program (VHAP), to aid Texas Veterans in purchasing a home. Eligible Texas Veterans have an opportunity to purchase a home with a little to no money down at a competitive, low-interest.

Key Considerations:

  • Typically requires a minimum of 5% down payment for tracts one acre or more
  • You’re a U.S. Military Veteran*
  • You’re currently serving in the military or military reserves
  • You may be eligible if you are a commissioned officer of the Public Health Service



*Subject to VA eligibility review. Surviving spouses of veterans may also be eligible.

Physician Loans

A doctor’s loan is dedicated to serving medical professionals. It’s a unique loan for those with unique needs.

Key Considerations:

  • 100% financing on purchase or refinance of principal residence up to $453,100
  • No private mortgage insurance (PMI) saves you money
  • Flexible credit scores
  • 3% seller contributions allowable*


*Borrower may not receive any cash at closing.

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Lot, Land, Construction Loans

Lot/Land Loans

The perfect piece of land with mature trees and a pond has come up for sale. Now you just need to get a land loan before designing your new dream house.

Key Considerations:

  • 80% financing available
  • Use your current home’s equity to purchase the land
  • Up to 25 acres is allowable


Construction Loans

A construction loan is just what you need when you’re building your new dream home.

Key Considerations:

  • For construction of your primary residence
  • Conforming and Jumbo Loan amounts available
  • Interest-only** payments during construction with a final balloon payment at maturity

CALCULATE MY LOAN PAYMENT

*After the initial fixed term of the ARM (Adjustable Rate Mortgage) period, it is possible that the borrower’s payment may increase substantially over the remaining term of the loan.
**After the interest-only or initial fixed term of the ARM period, it is possible that the borrower’s payment may increase substantially over the remaining term of the loan.



Home Equity Options

Home Equity Loan

Your homes equity may be able to help you finance major expenses.

Key Benefits:

  • Use your home to pay for home improvements, consolidate bills, or fund large purchases
  • Borrow only what you need and have a set repayment schedule with a fixed payment




Home Equity Line of Credit

Flexible access to your home’s value through a home equity line of credit.

Key Considerations:

  • Use it to buy a new heating system for your home in an emergency situation
  • Make payments as low as interest-only or pay down principal as well and have access to those funds again
  • Easy to borrow against your revolving line of credit by writing a check or transferring funds online



Home Improvement Loan

Our home improvement financing option can help you renovate your home now and pay for it over time.

Key Considerations:

  • Use it to renovate a home for handicap access
  • Repair a roof or add on a room
  • Replace windows
  • Refinance and improve your home with one loan
  • Interest may be tax deductible