Down Payment
15â25% down depending on loan type and property. Higher down payments for multiâunit or shortâterm rental properties.
Your path to homeownership starts here
Welcome to Jay Jones Investments, your trusted local mortgage broker in Spring, Texas. We're dedicated to guiding you through the journey of securing the perfect mortgage, whether you're buying your first home, refinancing, or investing. Experience personalized service and expert advice tailored to your unique financial goals. Let's build your future, together.
Tailored mortgage solutions
At Jay Jones Investments, we understand that every financial journey is unique. We offer a comprehensive suite of mortgage services designed to meet your specific needs, providing expert guidance and support every step of the way.
First-time homebuyer
HUD Definition of a First‑Time Homebuyer
The U.S. Department of Housing and Urban Development (HUD) defines a first‑time homebuyer as any individual who meets at least one of the criteria below.
No Ownership in the Past 3 Years
You are considered a first‑time homebuyer if you have not owned a principal residence during the three‑year period ending on the date of purchase. If either spouse meets this requirement, both qualify.
Single Parents
You qualify if your only prior homeownership was with a former spouse while married.
Displaced Homemakers
You qualify if you previously owned a home only with a spouse and are now displaced.
Non‑Permanent Foundation Homes
Individuals who owned a residence not permanently affixed to a foundation (such as certain manufactured or mobile homes) qualify.
Substandard Prior Housing
You qualify if your previous residence did not comply with building codes and could not be brought into compliance for less than the cost of constructing a permanent structure.
Down Payment Assistance
Down Payment Assistance Programs in Texas
Texas homebuyers have access to several statewide programs that offer grants, forgivable loans, and low‑interest second liens to help cover down payment and closing costs. Below are the major programs available through TDHCA, TSAHC, and local municipalities.
TDHCA – Texas Department of Housing & Community Affairs
My First Texas Home (MFTH)
- For first‑time homebuyers and veterans
- 3%–5% down payment & closing cost assistance
- Forgivable second lien (3‑year deferred)
- Minimum credit score: 620
My Choice Texas Home (MCTH)
- Available to first‑time and repeat buyers
- 2%–5% assistance
- 0% interest, 30‑year deferred repayable second lien
- Higher income limits than MFTH
Mortgage Credit Certificate (MCC)
- Annual federal tax credit for mortgage interest
- Can be combined with My First Texas Home
TSAHC – Texas State Affordable Housing Corporation
Homes for Texas Heroes
- For teachers, police, firefighters, EMS, veterans, correctional officers
- 2%–5% down payment assistance
- Available as a grant or 0% second lien
Home Sweet Texas Home
- For low‑to‑moderate income Texans
- 2%–5% assistance
- Grant or deferred second lien options
- Can be paired with an MCC
Local & Regional Down Payment Assistance
Many Texas cities and counties offer their own programs, including Houston, Dallas, Austin, San Antonio, Fort Worth, and El Paso. These may include grants, forgivable second liens, or low‑interest subordinate loans. Eligibility varies by income, property location, and homebuyer education requirements.
Refinancing Solutions for Texas Homeowners
Smart, Transparent Options from Jay Jones Investments
Refinancing your mortgage can be one of the most effective ways to strengthen your financial position. Jay Jones Investments provides clear, compliant, and personalized refinancing solutions designed specifically for Texas homeowners.
Lower Your Monthly Payment
Reduce your interest rate or extend your loan term to create more financial breathing room.
Shorten Your Loan Term
Move from a 30‑year to a 15‑year mortgage to build equity faster and reduce total interest paid.
Access Home Equity (Texas Cash‑Out)
Tap into your home’s equity for improvements, debt consolidation, investments, or emergency reserves. We guide you through Texas 50(a)(6) rules with full transparency.
Switch From Adjustable to Fixed
Convert an ARM into a stable, predictable fixed‑rate mortgage.
Remove Mortgage Insurance
If your home value has increased, refinancing may eliminate PMI and lower your monthly payment.
Texas‑Specific Refinancing Expertise
Texas has unique homestead protections and cash‑out refinance laws. Our process complies with:
- Texas Constitution Article XVI, Section 50(a)(6)
- Texas Department of Savings and Mortgage Lending (SML) requirements
- Federal TRID disclosure rules
- ECOA, FCRA, GLBA, and all applicable consumer protection laws
Is Refinancing Right for You?
- Your current interest rate is higher than today’s market
- Your home value has increased significantly
- You want to consolidate high‑interest debt
- You need funds for renovations or investments
- You plan to stay in your home long enough to benefit from the savings
Why Texans Trust Jay Jones Investments
- Deep Texas mortgage expertise
- Compliance‑driven, transparent guidance
- Personalized loan comparisons
- Fast, efficient underwriting
- Clear communication from application to closing
