Texas Mortgage / Home Loan Lending
You have to do more than compare interest rates to get the best loan! To get the best deal overall you need to do a lot more.
Like comparing closing costs, Texas mortgage insurance premiums, break costs, the advantages of a fixed rate over a variable rate and a myriad of other considerations and fees described under headings most of us don’t use every day.
And as conditions and fees can vary from state to state you will benefit most from this site if the property you want to buy, refinance or access equity from is located here in TEXAS. Learn more about the loan prequalification process in Texas
Knowledge is Power---
To get started, we’re going to give you a short history of mortgage lending. We’ll tell you how Title deeds, or proof of property ownership, became legal instruments here in Texas and how that security, your title deed, is the basis for 96% of mortgage lending.It’s not only a fascinating story, but it’s also knowledge that will help you make informed decisions. Decisions that will save you money.
We’ll tell you where the money you are borrowing comes from and why some loans have conditions that you shouldn’t accept. We’ll tell you the questions to ask your Lawyer or Title Company. Information about the property your realtor must provide and details you can get if you ask the right questions before buying.
Texas Property Tax Code 33.06 allows you to "defer home property tax" if your over 65.
Remember--- This is a long-term commitment.
There’s a lot to consider when choosing a mortgage lender, and the more you know the better the choice you’ll make. Also remember that high closing costs and break fees can quickly eat up a small interest rate advantage, so choose carefully.
If you are looking for mortgage deals, there are home owners who cannot seem to sell their property, and the banks and financial institutions are aware of this mortgage/load situation. The banks want to do encourage people to buy homes, and this means making mortgage deals to those who come into their bank. This may be a great time for those with bad credit to try to get a better interest rate as well. It may not happen for you, but it never hurts to find out.