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Houston My Community Mortgage Information


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The Texas My Community Mortgage program was introduced in 2000 by Fannie Mae. This program is designed to make it easier than ever to afford a home! In many cases these loans are made with a small or no down payment. (Up to 100% LTV loans) The rules for credit history are less restrictive than what most lenders require, and the finance rate is low. There is flexibility on income source which includes counting boarder income from relatives or non-relatives. Mortgage insurance (PMI) requirements are low and that helps keep the monthly payment low. The program is also available for 2, 3, or 4 unit properties for customers that want to live in one unit and rent the others out. There is an automated underwriting that results in a fast loan decision in most cases. This is a program that says YES for many issues that other lenders won’t accept. The result is home loan approvals for many family’s that would otherwise not be able to own a home!

There are a variety of program options available including fixed loans for up to 40 years, variable options, and initial interest only. There is also an option for a 2-1 interest rate buy down to make your payments extra low the first 2 years. Condos and co-ops are eligible. For 2007 the Houston area the My Community Mortgage household income limit is $60,900. The maximum loan size is limited to $417,000.

Texas residents can find more information at my Houston My Community Mortgage website. You can also call my office at 281-537-2700.

Texas Capital Mortgage - Low rates for good and bad credit home mortgages - - Also visit our reverse mortgage site at


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