Loan programs in El Paso
DSCR Loans in El Paso
A DSCR loan is an investment-property mortgage that qualifies you on the property’s rental income divided by its monthly payment (the debt service coverage ratio).
InvestorFix and Flip Loans in El Paso
A fix and flip loan is short-term (usually 12–18 months), interest-only financing that covers most of a distressed property’s purchase price and up to 100% of renovation costs, repaid when you sell or refinance.
InvestorDSCR Cash-Out Refinance in El Paso
A DSCR cash-out refinance replaces the loan on a rental with a larger one, sized to the property’s value and qualified on its rent, and pays you the difference in cash.
InvestorShort-Term Rental (Airbnb) DSCR Loans in El Paso
A short-term rental DSCR loan qualifies a vacation rental on its nightly-rental income, using 12 months of booking history or a third-party projection such as AirDNA, instead of a long-term lease.
Home loanBank Statement Loans in El Paso
A bank statement loan is a non-QM mortgage that calculates self-employed income from 12 or 24 months of personal or business bank deposits instead of tax returns.
Home loanFHA Loans in El Paso
An FHA loan is a government-insured mortgage that allows 3.5% down with a credit score of 580 or higher, or 10% down with a score from 500 to 579.
Home loanFirst-Time Homebuyer Loans in El Paso
First-time homebuyer loans are mortgage options with low down payments, typically 3% conventional, 3.5% FHA or $0 VA, often paired with state or local down payment assistance.
Home loanVA Loans in El Paso
A VA loan is a mortgage guaranteed by the Department of Veterans Affairs that lets eligible veterans, active-duty service members and certain surviving spouses buy with no down payment and no monthly mortgage insurance.
Home loanCondo Loans in El Paso
A condo loan is a mortgage on a unit in a condominium project, and approval depends on the building as well as the buyer.
Neighborhoods in El Paso
- Westside
- Eastside
- Central El Paso
- Mission Valley
Why borrowers look at El Paso
El Paso is a border metro with a large military presence at Fort Bliss, a bilingual workforce, and a slower pace than the eastern Texas metros. Housing is dominated by affordable post-war and 1990s-2000s single-family homes on the Westside and Eastside, with adobe and Spanish-style touches throughout. Buyers get some of the lowest prices of any major Texas city. Investors target reliable military and cross-border workforce tenants, modest but steady appreciation, and a market largely insulated from the boom-bust cycles of the bigger metros. UTEP and the Franklin Mountains frame the city western edge, while cross-border trade and manufacturing tied to Ciudad Juarez give the economy a binational character that supports steady, if unspectacular, housing demand.
Local market snapshot: El Paso
| Median home value | $184,500City of El Paso · Source: U.S. Census Bureau, American Community Survey 5-year estimates |
|---|---|
| Median gross rent | $1,073/moCity of El Paso · Source: U.S. Census Bureau, American Community Survey 5-year estimates |
| Effective property tax rate | 1.73% (approx.)El Paso County, effective rate (approx.) · Source: SmartAsset, Texas Property Tax Calculator |
Homeowners insurance: El Paso has among the lowest homeowners insurance costs in Texas: no hurricane exposure, minimal hail, and low natural-disaster risk keep premiums down. Standard policies suffice for most buyers, making the total monthly payment more predictable than in the eastern metros.
Figures are the most local reliable public data available (city, then county, then statewide), each labeled above. They are context for your payment estimate, not a quote, run your scenario through our payment calculator.
Before you buy or refinance in El Paso
- Pull the El Paso County property tax bill early; it is part of every payment and DSCR calculation.
- Get an insurance quote before you lock a price.
- For rentals, check rent comps and any local rental registration or short-term rental rules in El Paso.
- Texas home-equity cash-out on a homestead (Section 50(a)(6)) is capped at 80% of value with a 12-day notice and a 3-day right of rescission. Investment property cash-out is not subject to the homestead rules, which is one reason DSCR cash-out is popular with Texas investors.
Run the numbers
- DSCR Calculator
- Fix and Flip Profit Calculator
- Mortgage Payment Calculator
- Home Affordability Calculator
Other Texas cities
- Houston
- Dallas
- San Antonio
- Austin
- Fort Worth
- Arlington
- Plano
- Corpus Christi
- Frisco
- McKinney
- Lubbock
- Killeen
- Irving
- Garland
- Laredo
- Amarillo
- Waco
- Round Rock
- Pearland
- Sugar Land
- Conroe
- College Station
- Brownsville
- McAllen
- Denton
- Midland
- Tyler
- Beaumont
- Grand Prairie
- Pasadena
- Mesquite
- Carrollton
- Abilene
- Richardson
- Odessa
- League City
- The Woodlands
- Lewisville
- Allen
- Wichita Falls
- Edinburg
- San Angelo
- New Braunfels
- Atascocita
- Mission
- Bryan
- Baytown
- Temple
- Longview
- Pharr
- Cedar Park
- Flower Mound
- Missouri City
- Mansfield
- Harlingen
- North Richland Hills
- San Marcos
- Georgetown
- Victoria
- Pflugerville
- Rowlett
- Spring
- Euless
- Leander
- Wylie
- DeSoto
- Port Arthur
- Galveston
- Texas City
- Grapevine
FAQ
What loans can I get in El Paso, TX?
Investor loans (DSCR, fix and flip, cash-out, short-term rental) and owner-occupied home loans (bank statement, FHA, VA, conventional and more).
Who assesses property taxes in El Paso?
El Paso County. Lenders include those taxes in the monthly payment used to qualify you.