Mortgage
Residential Real
Estate Lending
Mortgage Lending – Your Dream House and Security Bank
Security Bank is anxious to help you finance a new home or to refinance an existing home. We have the full array of conventional mortgage products including 30 year and 15 year fixed rate loans. But we have more.
If your financial situation does not fit the box that most mortgage lenders require, then give our mortgage bankers the opportunity to shape a mortgage that best suits your needs. Because we are a locally-owned bank, and are willing to apply common sense, we can be flexible with such details as credit scores, length of employment, debt coverage ratios and other underwriting requirements.
Construction & Rehab Loans – Building Your Dream Property with Security Bank
Our lenders have extensive experience in underwriting and structuring the following types of construction and development loans:
- Residential Lot Development
- Residential Construction
- Residential rehab loans for investor-owned properties
Home loans for every situation.
To find out more about each of our particular offerings, browse our options below!
Conventional mortgages are also ideal for buyers who prefer more flexibility in terms of property type and location, as they are not limited to specific property requirements imposed by government-backed loan programs (FHA & USDA). They typically require a down payment, have fixed or adjustable interest rates, and are repaid over a set term, commonly 15 or 30 years.
A VA home mortgage is a type of loan available to eligible veterans, active-duty service members, and surviving spouses of military personnel. It is guaranteed by the Department of Veterans Affairs (VA) and is designed to help veterans purchase, refinance, or build a home. VA mortgages often require little to no down payment, have competitive interest rates, and offer additional benefits such as no private mortgage insurance requirement.
An FHA home mortgage is a type of loan insured by the Federal Housing Administration (FHA) and offered by approved lenders. It is designed to make homeownership more accessible to borrowers with lower credit scores and smaller down payments. FHA mortgages typically require a down payment as low as 3.5% and have more flexible qualification criteria, making them suitable for first-time homebuyers or individuals with limited financial resources.
A USDA home mortgage, also known as a USDA Rural Development Loan, is a type of loan program offered by the United States Department of Agriculture (USDA). It is designed to promote homeownership in rural areas and provide affordable financing options for low- to moderate-income borrowers. USDA mortgages often offer 100% financing, meaning no down payment is required, and may have more lenient credit requirements compared to conventional loans.
Jumbo lending refers to mortgage financing used for purchasing high-value homes that exceed the conforming loan limits set by government-sponsored enterprises. These loans are considered riskier for lenders due to their larger size, resulting in stricter eligibility criteria and higher interest rates. Borrowers must have a strong credit history, high credit score, substantial down payment, and meet additional documentation requirements to qualify for jumbo loans.
Non-QM lending, or non-qualified mortgage lending, allows borrowers to obtain a home loan without meeting the strict qualifying criteria of government-sponsored enterprises or the Qualified Mortgage rule. It provides an alternative financing option for individuals who don’t fit within the standard guidelines, such as self-employed individuals or those with savvy investors. While non-QM loans offer flexibility, they often come with higher interest rates and fees due to the increased risk involved.
Portfolio lending when buying a home involves a lender originating and keeping the mortgage loan in its own portfolio instead of selling it to third-party investors. This approach offers more flexibility and personalized service as lenders have their own underwriting criteria and can consider unique borrower circumstances. Portfolio lending provides an alternative financing option for individuals who may not meet the strict requirements of conventional mortgages. Learn More
Construction and rehab loans are specialized types of loans designed to finance the construction or renovation of a property. These loans provide funds for both the purchase of the property and the costs associated with construction or rehabilitation. Borrowers can use these loans to build a new home, renovate an existing property, or perform major repairs or upgrades, with the loan amount based on the projected value of the property after completion.
Reliable help each step of the way.
Get to know our exceptional mortgage lending team to find the right fit for you.
Ed is an experienced mortgage loan officer who has lived and worked in north Dallas for more than 25 years. He raised his family in the Richardson ISD area and enjoys serving in the community where he lives and works.
He made a choice years ago to use his financial skills to help people with their home financing. He will tell you it is a blast to help a young family understand the financing side of buying a home, and to be with them at closing when they get the keys to their new home.
Cesar
