Realize Your Dream of Home Ownership

Welcome to Rate Drop Mortgage! We are your Texas home loan experts dedicated to making sure your purchase or refinance experience is top-notch.

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🏠 Equal Housing Lender · Company NMLS# 2826847 · Verify on NMLS Consumer Access

Popular Texas Home Loans

FHA Home Loans

FHA home loans are popular among Texas first-time homebuyers due to low down payment and credit requirements.

Conventional Home Loans

A conventional (fixed-rate mortgage) is a popular type of home financing in Texas because it offers predictability for your budget.

VA Home Loans

We’re proud to offer zero-down, no-PMI home loans for eligible veterans and service members throughout Texas.

Meet Your Loan Officer

Joe Martinez

Joe Martinez is the founder of Rate Drop Mortgage LLC, dedicated to helping Texas families find the right home loan at the right rate. With a hands-on approach and deep knowledge of FHA, VA, and conventional financing, Joe works closely with every client from application to closing.

NMLS# 225536 · Rate Drop Mortgage LLC, Company NMLS# 2826847

What Our Clients Say

★★★★★

“Despite knowing very little about the home-buying process, I am very glad that I got the chance to work with Rate Drop Mortgage. Every single interaction I had with the team was very professional and incredibly helpful.”

— Giselle A., El Paso

★★★★★

“If you are looking to buy a home, Joe and his team are extremely knowledgeable, professional, courteous and will help you through the entire process in an efficient and timely manner. You are in good hands. Give them a call.”

— Dr. Carlos Gonzalez, El Paso

★★★★★

“Company and staff are very friendly and a pleasure to work with.”

— Verified Google Review

Mortgage Calculators

Pick a loan type below to run your numbers.

Conventional FHA VA Refinance Affordability

Conventional Loan Calculator

Purchase Price $

Mortgage Term

Down Payment ($)

Annual Taxes ($)

Interest Rate (%)

Mortgage Insurance Rate (%)

Annual Insurance $

Monthly HOA $

Want a Copy of the Results?

$1421

Monthly Payment

Principal & Interest $1421

Monthly Taxes $1421

Monthly HOA $1421

Monthly Insurance $1421

Monthly PMI $0

FHA Loan Calculator

Purchase Price $

Mortgage Term

Down Payment ($)

Annual Taxes ($)

Interest Rate (%)

Annual Insurance $

Monthly HOA $

Want a Copy of the Results?

$1421

Monthly FHA Payment

Principal & Interest $1421

Monthly Taxes $1421

Monthly HOA $1421

Monthly Insurance $1421

Up-Front MIP (1.75%)$0

Monthly Mortgage Insurance $0

VA Loan Calculator

Veteran Status

First Time VA Loan

Purchase Price $

Mortgage Term

Down Payment ($)

Interest Rate ($)

Annual Taxes ($)

Annual Insurance ($) $

Monthly HOA $

Want a Copy of the Results?

$1421

Monthly VA Payment

Principal & Interest $1421

Monthly Taxes $1421

Monthly HOA $1421

Monthly Insurance $1421

Purchase Price $1421

VA Funding Fee $1421

Amount Financed $1421

Refinance Calculator

Current Loan Amount $

Interest Rate %

Current Term months

Origination Year

New Loan Amount $

New Interest Rate %

New Loan Term months

Refinance Fees $

Want a Copy of the Results?

Refinancing could save you

$/month

New monthly payment $

Refinance fees $

Lifetime Savings $

Affordability Calculator

Annual Income $

Monthly Debts $

Estimated annual property taxes $

Estimated Annual Home Insurance $

Down Payment $

Interest Rate %

Loan Term

Want a Copy of the Results?

You can afford up to

$

Monthly Payment $

Principal & Interest $

Tax $

Insurance $

Talk to Joe About Your Rate

Get In Touch

Rate Drop Mortgage LLC — 2829 Montana Suite L116, El Paso, Texas 79903 — (915) 276-7629 — Company NMLS# 2826847 — Joe Martinez, Individual NMLS# 225536