Texas Mortgage Rates

May 23, 2015 06:17 AM Eastern

Refinance rates now in DALLAS, TX [Change this]

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Home Price (Purchase)
When you get a mortgage to purchase a home, the lender uses the lower of the agreed-upon purchase price or the property's appraised value to determine your maximum loan amount. The loan amount divided by the property home price equals your loan-to-value ratio, or LTV. That ratio is one of the major factors that lenders use to set your mortgage rate. If your LTV exceeds 80 percent, you'll probably be required to pay mortgage insurance, which increases your monthly payment. If the property appraises for less than the agreed-on purchase price, you are not usually required to complete the purchase.
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Home Value (Refinance)
This is your estimate of the current value of your property. When you refinance, your home is almost always evaluated by a licensed appraiser. The refinance loan amount divided by the property's appraised value equals your loan-to-value ratio (LTV), and that number is one of the major factors that determine your mortgage rate. To get an accurate refinance rate quote, your home value estimate must be reasonably accurate.
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Down Payment
The down payment is the amount you pay upfront when you finance property. Your purchase price minus your down payment equals your mortgage amount. The higher your down payment, the more likely you are to be approved for a home loan. If your down payment is less than 20 percent of the purchase price, you'll probably be required to pay for mortgage insurance, which increases your monthly payment.
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Credit Score
Your credit score is a number designed to measure your credit-worthiness. It's based on a formula that combines many factors, including your payment history, amount of credit used and number of accounts. This number is used by lenders to calculate the probability that you'll default on your mortgage. Most lenders won't approve mortgages to applicants with credit scores lower than 620. Your credit score is one of the most important factors that determines your mortgage rate - applicants with higher scores are offered better mortgage rates.

30 Year Fixed Rates as low as

Interest Rate
3.750%
APR
3.794%
Monthly Payment
$927
Sebonic Financial
Interest Rate
3.750%
APR
3.794%
Monthly Payment
$927
(866) 544-4064 Contact
Sebonic Financial
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $927
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $927
Lender Fees $1,068
Lender Credit $0
Total Closing Fees* $1,068
*Other 3rd party fees may apply
Sebonic Financial
Email Lender

About the Lender

Sebonic Financial is a division of Cardinal Financial Company, a full service mortgage banking firm in operation since 1987.  The company is an approved seller/servicer for Fannie Mae, Freddie Mac and Ginnie Mae. Cardinal is also an approved lending institution for the Department of Housing and Urban Development/Federal Housing Administration and the Department of Veteran Affairs/Veterans Administration with FHAs Direct Endorsement and VA Automatic Lender Authority.  Cardinal is an authorized lender for the USDA/Rural Housing Program, the Pennsylvania Housing Finance Agency and the New Jersey Mortgage Housing Finance Agency.

 

Cardinal is licensed by the Departments of Banking in many states, mainly in the eastern and southeastern United States.  Its retail and wholesale divisions originate first mortgage loans for qualified borrowers.

Sebonic Financial
Email Lender Write a Review

Lender Reviews

Delays, Delays, Delays

It took over 2 months to close after providing all of the paperwork within 1 day of request. Of course there was only a 30 day lock, so they milked another 4 weeks of extension fees out of me. I complained about their tactics and got all but one week of fees reduced. At this time I just wanted to end my misery, so I took their offer just to get rid of them. Very poor business ethics and practices.

By: Delays (Upper Peninsula Michigan)

Great job!

Yes, I recommend this lender

I had a great experience with Sebonic,I was very nervous about using this lender, but after shopping around with local lenders and online lenders, I can tell you that I got the best interest rate and best closing cost and great costumer service from Sebonic. I will definitely recommend Sebonic to all my friends and family. Sebonic did an amazing job!!!

By: Pembroke (Pembroke Pines, FL)

Terrible service

I refi'd a mortgage through Sebonic and it was a terrible terrible mistake. It took them three months and even after that, I had to call individual employees at know what the status of the file is. No one seems responsible or responsive. Never use them

By: refiborrower (new york)
See All Reviews
Herring Bank
Interest Rate
3.625%
APR
3.878%
Monthly Payment
$912
(844) 707-9782 Contact
Herring Bank
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $912
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $912
Lender Fees $6,091
Lender Credit $0
Total Closing Fees* $6,091
*Other 3rd party fees may apply
Herring Bank
Email Lender

About the Lender

Herring Bank originated in Vernon, Texas in 1899. The bank provides a full range of commercial and consumer banking products, as well as investment and trust services. While the bank is primarily owned by the family of its founder, Col. C.T. Herring, the bank has directors and owners in communities that it serves. Through local leadership and ownership, Herring Bank has created a legacy of helping customers with their financial needs for some 110 years.
Herring Bank
Email Lender Write a Review

Lender Reviews

Piece of Cake!

Yes, I recommend this lender

I have worked with many lenders in my time (including banks where I am already an account holder!), and I had been led by those experiences to believe there was no such thing as a good mortgage experience. But Herring Bank and their loan officer, Derek Goss, proved to me that you CAN have a good experience! From start to finish, they were professional, expedient, and friendly. I never felt like I was just a number, and there is no beating their rates or costs. Derek was very quick to respond to all of my questions throughout the process, and he made me feel important. The entire process was quick, convenient, and dare I say, enjoyable. I would definitely recommend Derek Goss and Herring Bank to anyone looking for a pleasant mortgage experience.

By: HerringBankRev (Southern Colorado)

Fantastic Service

Yes, I recommend this lender

We were impressed and very pleased with every aspect of our expierience with Herring Bank. The customer service is amazing and the loan we recieved had an excellent rate and low fees! Thank you Mr. Hanson for all of your excellent work!

By: Anonymous (Pueblo, CO)

Great Bank

Yes, I recommend this lender

Herring Bank was the absolute best when it came to purchasing our new home. I am self employed so it is a little more complicated when financing a new house. I visited with multiple banks and felt like I was getting the "run around" with them. When I contacted Joe Wilson at Herring Bank he was very helpful and simplified the whole process for us. The lending process can be very complicated, but with Herring it was just the opposite. Joe informed me at the beginning that there will be some bumps in the road and to not worry about that, but as far as I am concerned, there were not any bumps. The best experience that I could of hoped for!

By: Jeff (Amarillo, TX)
See All Reviews

15 Year Fixed Rates as low as

Interest Rate
2.875%
APR
3.069%
Monthly Payment
$1,370
Sebonic Financial
Interest Rate
2.875%
APR
3.069%
Monthly Payment
$1,370
(866) 544-4064 Contact
Sebonic Financial
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $1,370
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,370
Lender Fees $2,682
Lender Credit $0
Total Closing Fees* $2,682
*Other 3rd party fees may apply
Sebonic Financial
Email Lender

About the Lender

Sebonic Financial is a division of Cardinal Financial Company, a full service mortgage banking firm in operation since 1987.  The company is an approved seller/servicer for Fannie Mae, Freddie Mac and Ginnie Mae. Cardinal is also an approved lending institution for the Department of Housing and Urban Development/Federal Housing Administration and the Department of Veteran Affairs/Veterans Administration with FHAs Direct Endorsement and VA Automatic Lender Authority.  Cardinal is an authorized lender for the USDA/Rural Housing Program, the Pennsylvania Housing Finance Agency and the New Jersey Mortgage Housing Finance Agency.

 

Cardinal is licensed by the Departments of Banking in many states, mainly in the eastern and southeastern United States.  Its retail and wholesale divisions originate first mortgage loans for qualified borrowers.

Sebonic Financial
Email Lender Write a Review

Lender Reviews

Delays, Delays, Delays

It took over 2 months to close after providing all of the paperwork within 1 day of request. Of course there was only a 30 day lock, so they milked another 4 weeks of extension fees out of me. I complained about their tactics and got all but one week of fees reduced. At this time I just wanted to end my misery, so I took their offer just to get rid of them. Very poor business ethics and practices.

By: Delays (Upper Peninsula Michigan)

Great job!

Yes, I recommend this lender

I had a great experience with Sebonic,I was very nervous about using this lender, but after shopping around with local lenders and online lenders, I can tell you that I got the best interest rate and best closing cost and great costumer service from Sebonic. I will definitely recommend Sebonic to all my friends and family. Sebonic did an amazing job!!!

By: Pembroke (Pembroke Pines, FL)

Terrible service

I refi'd a mortgage through Sebonic and it was a terrible terrible mistake. It took them three months and even after that, I had to call individual employees at know what the status of the file is. No one seems responsible or responsive. Never use them

By: refiborrower (new york)
See All Reviews
Herring Bank
Interest Rate
2.875%
APR
3.266%
Monthly Payment
$1,369
(844) 707-9782 Contact
Herring Bank
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $1,369
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,369
Lender Fees $5,341
Lender Credit $750
Total Closing Fees* $4,591
*Other 3rd party fees may apply
Herring Bank
Email Lender

About the Lender

Herring Bank originated in Vernon, Texas in 1899. The bank provides a full range of commercial and consumer banking products, as well as investment and trust services. While the bank is primarily owned by the family of its founder, Col. C.T. Herring, the bank has directors and owners in communities that it serves. Through local leadership and ownership, Herring Bank has created a legacy of helping customers with their financial needs for some 110 years.
Herring Bank
Email Lender Write a Review

Lender Reviews

Piece of Cake!

Yes, I recommend this lender

I have worked with many lenders in my time (including banks where I am already an account holder!), and I had been led by those experiences to believe there was no such thing as a good mortgage experience. But Herring Bank and their loan officer, Derek Goss, proved to me that you CAN have a good experience! From start to finish, they were professional, expedient, and friendly. I never felt like I was just a number, and there is no beating their rates or costs. Derek was very quick to respond to all of my questions throughout the process, and he made me feel important. The entire process was quick, convenient, and dare I say, enjoyable. I would definitely recommend Derek Goss and Herring Bank to anyone looking for a pleasant mortgage experience.

By: HerringBankRev (Southern Colorado)

Fantastic Service

Yes, I recommend this lender

We were impressed and very pleased with every aspect of our expierience with Herring Bank. The customer service is amazing and the loan we recieved had an excellent rate and low fees! Thank you Mr. Hanson for all of your excellent work!

By: Anonymous (Pueblo, CO)

Great Bank

Yes, I recommend this lender

Herring Bank was the absolute best when it came to purchasing our new home. I am self employed so it is a little more complicated when financing a new house. I visited with multiple banks and felt like I was getting the "run around" with them. When I contacted Joe Wilson at Herring Bank he was very helpful and simplified the whole process for us. The lending process can be very complicated, but with Herring it was just the opposite. Joe informed me at the beginning that there will be some bumps in the road and to not worry about that, but as far as I am concerned, there were not any bumps. The best experience that I could of hoped for!

By: Jeff (Amarillo, TX)
See All Reviews

5 Year ARM Rates as low as

Interest Rate
2.625%
APR
2.973%
Monthly Payment
$804
Sebonic Financial
Interest Rate
2.625%
APR
2.973%
Monthly Payment
$804
(866) 544-4064 Contact
Sebonic Financial
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $804
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $804
Lender Fees $2,296
Lender Credit $0
Total Closing Fees* $2,296
*Other 3rd party fees may apply
Sebonic Financial
Email Lender

About the Lender

Sebonic Financial is a division of Cardinal Financial Company, a full service mortgage banking firm in operation since 1987.  The company is an approved seller/servicer for Fannie Mae, Freddie Mac and Ginnie Mae. Cardinal is also an approved lending institution for the Department of Housing and Urban Development/Federal Housing Administration and the Department of Veteran Affairs/Veterans Administration with FHAs Direct Endorsement and VA Automatic Lender Authority.  Cardinal is an authorized lender for the USDA/Rural Housing Program, the Pennsylvania Housing Finance Agency and the New Jersey Mortgage Housing Finance Agency.

 

Cardinal is licensed by the Departments of Banking in many states, mainly in the eastern and southeastern United States.  Its retail and wholesale divisions originate first mortgage loans for qualified borrowers.

Sebonic Financial
Email Lender Write a Review

Lender Reviews

Delays, Delays, Delays

It took over 2 months to close after providing all of the paperwork within 1 day of request. Of course there was only a 30 day lock, so they milked another 4 weeks of extension fees out of me. I complained about their tactics and got all but one week of fees reduced. At this time I just wanted to end my misery, so I took their offer just to get rid of them. Very poor business ethics and practices.

By: Delays (Upper Peninsula Michigan)

Great job!

Yes, I recommend this lender

I had a great experience with Sebonic,I was very nervous about using this lender, but after shopping around with local lenders and online lenders, I can tell you that I got the best interest rate and best closing cost and great costumer service from Sebonic. I will definitely recommend Sebonic to all my friends and family. Sebonic did an amazing job!!!

By: Pembroke (Pembroke Pines, FL)

Terrible service

I refi'd a mortgage through Sebonic and it was a terrible terrible mistake. It took them three months and even after that, I had to call individual employees at know what the status of the file is. No one seems responsible or responsive. Never use them

By: refiborrower (new york)
See All Reviews
Herring Bank
Interest Rate
2.625%
APR
3.059%
Monthly Payment
$803
(844) 707-9782 Contact
Herring Bank
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $803
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $803
Lender Fees $6,091
Lender Credit $0
Total Closing Fees* $6,091
*Other 3rd party fees may apply
Herring Bank
Email Lender

About the Lender

Herring Bank originated in Vernon, Texas in 1899. The bank provides a full range of commercial and consumer banking products, as well as investment and trust services. While the bank is primarily owned by the family of its founder, Col. C.T. Herring, the bank has directors and owners in communities that it serves. Through local leadership and ownership, Herring Bank has created a legacy of helping customers with their financial needs for some 110 years.
Herring Bank
Email Lender Write a Review

Lender Reviews

Piece of Cake!

Yes, I recommend this lender

I have worked with many lenders in my time (including banks where I am already an account holder!), and I had been led by those experiences to believe there was no such thing as a good mortgage experience. But Herring Bank and their loan officer, Derek Goss, proved to me that you CAN have a good experience! From start to finish, they were professional, expedient, and friendly. I never felt like I was just a number, and there is no beating their rates or costs. Derek was very quick to respond to all of my questions throughout the process, and he made me feel important. The entire process was quick, convenient, and dare I say, enjoyable. I would definitely recommend Derek Goss and Herring Bank to anyone looking for a pleasant mortgage experience.

By: HerringBankRev (Southern Colorado)

Fantastic Service

Yes, I recommend this lender

We were impressed and very pleased with every aspect of our expierience with Herring Bank. The customer service is amazing and the loan we recieved had an excellent rate and low fees! Thank you Mr. Hanson for all of your excellent work!

By: Anonymous (Pueblo, CO)

Great Bank

Yes, I recommend this lender

Herring Bank was the absolute best when it came to purchasing our new home. I am self employed so it is a little more complicated when financing a new house. I visited with multiple banks and felt like I was getting the "run around" with them. When I contacted Joe Wilson at Herring Bank he was very helpful and simplified the whole process for us. The lending process can be very complicated, but with Herring it was just the opposite. Joe informed me at the beginning that there will be some bumps in the road and to not worry about that, but as far as I am concerned, there were not any bumps. The best experience that I could of hoped for!

By: Jeff (Amarillo, TX)
See All Reviews
Mortgage rate quotes displayed on LendingTree LoanExplorer℠, including loan pricing data, rates and fees, are provided by third party data providers including, but not limited to, Mortech®, a registered trademark of Zillow®, LoanXEngine, a product of Mortgage Builder Software, Inc., and LoanTek, Inc.

Mortgage Rate Trends

Monthly | Daily

Mortgage Rate Lock Recommendation

May 28, 2014
  •   Lock if closing in 7 days:
    Rates are down
  •   Lock if closing in 15 days:
    Rates are down
  •   Lock if closing in 30 days:
    Rates are down
  •   Float if closing in 45 days:
    Rates might drop in next month
  •   Float if closing in 60 days:
    Rates might drop in next month

First-Time Buyer Programs Using Current Texas Mortgage Rates

Texas, one of the largest states in the country, also has one of the best- performing mortgage markets and real estate economies. If you're looking to purchase a home or refinance your existing loan in "The Lone Star State," it helps to have as much information at your fingertips as possible, including information about current TX mortgage interest rates.

Educating yourself about TX interest rates and loan options will help you determine the best loan program that fits your unique situationsituation and your budget, and help you get into the home of your dreams sooner.

Texas Mortgage Education and Finding Low TX Mortgage Rates

Education for potential homebuyers is offered through the The Texas Department of Housing and Community Affairs offers home buying education for TX residents. Classes prepare the individual for the financial responsibilities associated with owning a homeme,, and help buyers understand the process of obtaining a loan and finding out about Texas' mortgage interest rates.

These classes must be taken from a certified homebuyer education provider. The certified education includes information on budgeting, as well as warnings about mortgage and refinancing fraud. This education ensures that first-time homebuyers are prepared to buy and own a home.

First Time Home Buyer Program in Texas

The Texas Department of Housing and Community Affairs (TDHCA) offers a 10-year deferred forgivable 2nd mortgage for down payment and closing cost assistance, up to 4 percent of the first mortgage amount. The loan is offered at a competitive interest rate and is amortized over 30 years.

significant advantage of this program is that borrowers are not required to make monthly payments on the 2nd mortgage. All payments are deferred and are eventually forgivable should the borrower occupy the home for the entire 10 year period.

Texas Recovery Area Home Loans

First time home buyers purchasing a home in a presidentially-declared disaster area receive relaxed mortgage qualifying guidelines on most loan programs offered through the Texas Department of Housing and Community Affairs. If you're not sure where to look, the TDHCA makes available a list of real estate agents and brokers who can help you find the right home, and finance it through their participating lending partners. Both resources can be found right here at lendingtree.com or through this link.

Money for Home Repairs in Texas

Through the Texas Foundations Fund Texas residents can apply for a grant to make improvements and necessary repairs to their homes. Funds are offered through non-profit partners throughout the state and are restricted to those homeowners in the very low and extremely low income brackets. The money can be used to improve immediate living standards, build new single family homes, repair existing owner-occupied single family homes, and enhance accessibility for the elderly and disabled. Location and income restrictions apply.