Texas Mortgage Rates

May 24, 2016 07:26 PM 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

Interest Rate
3.500%
APR
3.566%
Monthly Payment
$899
Consumer Direct Mortgage, a division of FirstBank
30 Year Fixed
Interest Rate
3.500%
APR
3.566%
Monthly Payment
$899
(855) 997-1825 Contact
Consumer Direct Mortgage, a division of FirstBank
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 $899
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $899
Lender Fees $1,636
Lender Credit $0
Total Closing Fees* $1,636
*Other 3rd party fees may apply
Consumer Direct Mortgage, a division of FirstBank
Email Lender

About the Lender

At Consumer Direct Mortgage, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention. You are our priority and we know that superior service, delivering what was offered, coupled with the lowest overall cost is the way to keep you as a customer for life. In a lending environment where everyone is offering the same core products and programs, we know that we have to separate ourselves with an unwavering commitment to services and delivering the lowest overall total cost to close every day. Our sales and operations team is comprised of veteran Mortgage Professionals that are committed to this philosophy and understand what it takes to get the job done on time and at the agreed upon terms and conditions presented.
Consumer Direct Mortgage, a division of FirstBank
Email Lender Write a Review

Lender Reviews

Consumer Direct Mortgage review

Yes, I recommend this lender

Best financing experience ever! My compliments to three individuals in particular, Stephen Spivey, Kimberly Sourant and Magen Dwojak. I could not be more pleased with the level of professionalism and promptness displayed by these individuals and their whole team. Great Product, great interest rate and great people!

By: Rick (Eureka, MO)

Happy with my Refinance

Yes, I recommend this lender

I was in need of a mortgage refinance and went on line to Lending Tree in order to get responses from multiple mortgage companies. ConsumerDirect Mortgage was one of the respondents. They had the most competitive rates and their closing cost were better than most as well. They were an excellent team of mortgage professionals led by Bill Hutto. if I am ever in need of another mortgage in the future I will certainly contact ConsumerDirect.

By: Bryan (Conway, SC)

Easiest Mortgage Ever

Yes, I recommend this lender

I worked with Phil Blasi Nate Piccone and Kate Janousek. Phil was invaluable with all the help he gave me. He was available day or night and encouraged questions and contact. I felt like he was there for me. Nate helped to complete all the docs and make sure the package was complete before it went to closing and was also available whenever needed, day or night. Kate handled the final wrap up and closing and wrapped it up quickly. The money was available immediately after the closing papers were faxed in and my lawyer and title agent remarked that it was one of the easiest closings that they had done. All in all, it was the best mortgage experience out of the eight or more that I have done.

By: WilliamNash (Pompano Beach, FL)
See All Reviews
Capital One
30 Year Fixed
Interest Rate
3.500%
APR
3.631%
Monthly Payment
$899
(844) 326-5399 Contact
Capital One
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 60 Days
Down Payment $50,000
Principal and Interest Payments $899
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $899
Lender Fees $3,225
Lender Credit $0
Total Closing Fees* $3,225
*Other 3rd party fees may apply
Capital One
Email Lender

About the Lender

You can expect better with Capital One. Whether you need help with refinancing, a new home purchase, debt consolidation, or financing home improvements, your idea of better likely starts with savings - we maximize your savings with competitive rates and lower than average closing costs. But savings is only the start. We also strive to provide a better loan process - one that’s totally clear right from the start, with no hidden fees or unexpected surprises along the way. You can expect better service too - you’ll have a responsive team of dedicated mortgage specialists assigned and available to you every day, each member trained to anticipate and able to take care of all your needs.
Capital One
Email Lender Write a Review

Lender Reviews

Eugena Carpio review

Yes, I recommend this lender

They were bery good as aloan company keep lower rates and I was very satisfied

By: EugeneCarpio (Las Vegas, NV)

Review

Yes, I recommend this lender

Experienced and knowledgeable staff.

By: Cathleen (Santa Fe, NM)

Frustrating Loan Hub Experience

I tried using this lender in late 2015. It was a terrible experience. We struggled through this from August to October. I was told that the paperwork process would be easy as Capital One Home Loans uses online technology (Loan Hub) to communicate with the customer. I was told I could upload all of our required documents via a secure site. We tried on three different occasions to upload our documents, but only some of them appeared on the website. We were told that some documents were missing, even after we received confirmation that the documents were received. The online process was not being updated by the company, so we did not know at times where we were in the refi process. The initial customer rep took my preliminary info and then I was sent to another rep who rarely answered my emails or answered with no suggestions to help us. When I told him that the site would not let us upload documents or failed to show that our documents were uploaded, he told me to contact customer service. When I called the number he provided, the customer rep did not know what I was talking about and said he was not familiar with the new Capital One Home Loans website. I truly never had a more frustrating experience and I do not like to write negative reviews, but I must state my frustration with this company. We were made to feel as though once they had our business (we were submitting all required documents) that we were nothing to them. Because this company seemed to lack customer service and someone who could take the time to explain why the electronic document process was so tedious, I had to withdrawal my request for a refi.

By: Dave (Philadelphia, PA)
See All Reviews
Sebonic Financial
30 Year Fixed
Interest Rate
3.500%
APR
3.640%
Monthly Payment
$899
(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 $899
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $899
Lender Fees $3,435
Lender Credit $0
Total Closing Fees* $3,435
*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

Very Impressed

Yes, I recommend this lender

Requesting a loan with Sebonic was a very satisfying experience. I was contacted promptly and professionally, and the loan originator, Scott Galbraith, was very professional and friendly. Although I decided to not complete the loan, Sebonic did offer the best rates I saw out there, and provided a very professional service. I would recommend Sebonic for anyone seeking a mortgage.

By: Daniel (Boca Raton, FL)

Great rate, quick and easy close

Yes, I recommend this lender

I recently utilized Sebonic/Cardinal to close a no cash out Refinance. It was an extremely smooth process and I received a clear to close less than 2 weeks after my initial call in. It was very refreshing because I had originally been working with the old servicer (not Sebonic) of my loan and it was a painful process working with them. Then I went to two well-known online lenders (also not Sebonic) and the first kept adding new, unnecessary, conditions as the other conditions were cleared and kept delaying the clear to close. Full disclosure - In a previous life, I was a mortgage underwriter/AE for a number of years so I have background experience. The loan officer at the second lender played games right off the bat so I was done with them. He told me on the phone that I would be bringing nothing to the table. When I saw the Loan Estimate Disclosure, he had raised my loan amount and rolled higher closing costs (large origination) into the loan. Then, thankfully I found Sebonic through a Google search. I called and spoke with Kobie, my Loan Officer. He was very straight forward and up front regarding rates and fees and I felt comfortable with him on the phone, but I still wanted to see the Loan Estimate Disclosure. I received it and it matched what was said during our conversation. Fees were very reasonable, so much so that I was able to buy down the rate even more. I received the conditions list the next business day and the loan processor contacted me to set up a phone call to review and answer any questions I may have. I submitted all conditions online (relatively user friendly interface). There were some disclosures that needed to be signed/scanned as well. Communication via phone and email was very efficient. My loan processor Jervay was almost always available via phone, and if I left a message, he responded back promptly. Email replies were also prompt. I received a clear to close less than 2 weeks after my original conversation with the loan officer. I had been a tad worried with the 30 day lock, but obviously Sebonic knew that they can turn around some loans very efficiently. Also, everyone I was in contact with was very pleasant. I never felt like I was being pushed or ignored which I had experienced with the other lenders. Overall, A+ experience and I highly recommend.

By: RA (Chantilly, VA)

Sebonic was quick, inexpensive and easy

Yes, I recommend this lender

After receiving what I perceived as poor service at Quicken I walked away from them the week of the scheduled closing and went with Sebonic. As far as I am concerned it was a great decision as I closed quickly with a slightly better rate and lower closing costs. James Dawkins was assigned to push my loan through and he was very responsive and helpful. For the closing they sent a notary to my home and with a little help from James everything was done in about 45 minutes. This was probably about my 20th loan / refi and the first that was done almost entirely via the internet. The internet added a few twists to the process but overall it was painless.

By: Andrew (Pinehurst, NC)
See All Reviews

15 Year Fixed

Interest Rate
2.750%
APR
2.801%
Monthly Payment
$1,358
Consumer Direct Mortgage, a division of FirstBank
15 Year Fixed
Interest Rate
2.750%
APR
2.801%
Monthly Payment
$1,358
(855) 997-1825 Contact
Consumer Direct Mortgage, a division of FirstBank
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 $1,358
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,358
Lender Fees $706
Lender Credit $0
Total Closing Fees* $706
*Other 3rd party fees may apply
Consumer Direct Mortgage, a division of FirstBank
Email Lender

About the Lender

At Consumer Direct Mortgage, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention. You are our priority and we know that superior service, delivering what was offered, coupled with the lowest overall cost is the way to keep you as a customer for life. In a lending environment where everyone is offering the same core products and programs, we know that we have to separate ourselves with an unwavering commitment to services and delivering the lowest overall total cost to close every day. Our sales and operations team is comprised of veteran Mortgage Professionals that are committed to this philosophy and understand what it takes to get the job done on time and at the agreed upon terms and conditions presented.
Consumer Direct Mortgage, a division of FirstBank
Email Lender Write a Review

Lender Reviews

Consumer Direct Mortgage review

Yes, I recommend this lender

Best financing experience ever! My compliments to three individuals in particular, Stephen Spivey, Kimberly Sourant and Magen Dwojak. I could not be more pleased with the level of professionalism and promptness displayed by these individuals and their whole team. Great Product, great interest rate and great people!

By: Rick (Eureka, MO)

Happy with my Refinance

Yes, I recommend this lender

I was in need of a mortgage refinance and went on line to Lending Tree in order to get responses from multiple mortgage companies. ConsumerDirect Mortgage was one of the respondents. They had the most competitive rates and their closing cost were better than most as well. They were an excellent team of mortgage professionals led by Bill Hutto. if I am ever in need of another mortgage in the future I will certainly contact ConsumerDirect.

By: Bryan (Conway, SC)

Easiest Mortgage Ever

Yes, I recommend this lender

I worked with Phil Blasi Nate Piccone and Kate Janousek. Phil was invaluable with all the help he gave me. He was available day or night and encouraged questions and contact. I felt like he was there for me. Nate helped to complete all the docs and make sure the package was complete before it went to closing and was also available whenever needed, day or night. Kate handled the final wrap up and closing and wrapped it up quickly. The money was available immediately after the closing papers were faxed in and my lawyer and title agent remarked that it was one of the easiest closings that they had done. All in all, it was the best mortgage experience out of the eight or more that I have done.

By: WilliamNash (Pompano Beach, FL)
See All Reviews
Capital One
15 Year Fixed
Interest Rate
2.750%
APR
2.964%
Monthly Payment
$1,358
(844) 326-5399 Contact
Capital One
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 60 Days
Down Payment $50,000
Principal and Interest Payments $1,358
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,358
Lender Fees $2,975
Lender Credit $0
Total Closing Fees* $2,975
*Other 3rd party fees may apply
Capital One
Email Lender

About the Lender

You can expect better with Capital One. Whether you need help with refinancing, a new home purchase, debt consolidation, or financing home improvements, your idea of better likely starts with savings - we maximize your savings with competitive rates and lower than average closing costs. But savings is only the start. We also strive to provide a better loan process - one that’s totally clear right from the start, with no hidden fees or unexpected surprises along the way. You can expect better service too - you’ll have a responsive team of dedicated mortgage specialists assigned and available to you every day, each member trained to anticipate and able to take care of all your needs.
Capital One
Email Lender Write a Review

Lender Reviews

Eugena Carpio review

Yes, I recommend this lender

They were bery good as aloan company keep lower rates and I was very satisfied

By: EugeneCarpio (Las Vegas, NV)

Review

Yes, I recommend this lender

Experienced and knowledgeable staff.

By: Cathleen (Santa Fe, NM)

Frustrating Loan Hub Experience

I tried using this lender in late 2015. It was a terrible experience. We struggled through this from August to October. I was told that the paperwork process would be easy as Capital One Home Loans uses online technology (Loan Hub) to communicate with the customer. I was told I could upload all of our required documents via a secure site. We tried on three different occasions to upload our documents, but only some of them appeared on the website. We were told that some documents were missing, even after we received confirmation that the documents were received. The online process was not being updated by the company, so we did not know at times where we were in the refi process. The initial customer rep took my preliminary info and then I was sent to another rep who rarely answered my emails or answered with no suggestions to help us. When I told him that the site would not let us upload documents or failed to show that our documents were uploaded, he told me to contact customer service. When I called the number he provided, the customer rep did not know what I was talking about and said he was not familiar with the new Capital One Home Loans website. I truly never had a more frustrating experience and I do not like to write negative reviews, but I must state my frustration with this company. We were made to feel as though once they had our business (we were submitting all required documents) that we were nothing to them. Because this company seemed to lack customer service and someone who could take the time to explain why the electronic document process was so tedious, I had to withdrawal my request for a refi.

By: Dave (Philadelphia, PA)
See All Reviews

5/1 ARM

Interest Rate
2.625%
APR
3.406%
Monthly Payment
$804
Capital One
5/1 ARM
Interest Rate
2.625%
APR
3.406%
Monthly Payment
$804
(844) 326-5399 Contact
Capital One
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 60 Days
Down Payment $50,000
Principal and Interest Payments $804
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $804
Lender Fees $2,975
Lender Credit $0
Total Closing Fees* $2,975
*Other 3rd party fees may apply
Capital One
Email Lender

About the Lender

You can expect better with Capital One. Whether you need help with refinancing, a new home purchase, debt consolidation, or financing home improvements, your idea of better likely starts with savings - we maximize your savings with competitive rates and lower than average closing costs. But savings is only the start. We also strive to provide a better loan process - one that’s totally clear right from the start, with no hidden fees or unexpected surprises along the way. You can expect better service too - you’ll have a responsive team of dedicated mortgage specialists assigned and available to you every day, each member trained to anticipate and able to take care of all your needs.
Capital One
Email Lender Write a Review

Lender Reviews

Eugena Carpio review

Yes, I recommend this lender

They were bery good as aloan company keep lower rates and I was very satisfied

By: EugeneCarpio (Las Vegas, NV)

Review

Yes, I recommend this lender

Experienced and knowledgeable staff.

By: Cathleen (Santa Fe, NM)

Frustrating Loan Hub Experience

I tried using this lender in late 2015. It was a terrible experience. We struggled through this from August to October. I was told that the paperwork process would be easy as Capital One Home Loans uses online technology (Loan Hub) to communicate with the customer. I was told I could upload all of our required documents via a secure site. We tried on three different occasions to upload our documents, but only some of them appeared on the website. We were told that some documents were missing, even after we received confirmation that the documents were received. The online process was not being updated by the company, so we did not know at times where we were in the refi process. The initial customer rep took my preliminary info and then I was sent to another rep who rarely answered my emails or answered with no suggestions to help us. When I told him that the site would not let us upload documents or failed to show that our documents were uploaded, he told me to contact customer service. When I called the number he provided, the customer rep did not know what I was talking about and said he was not familiar with the new Capital One Home Loans website. I truly never had a more frustrating experience and I do not like to write negative reviews, but I must state my frustration with this company. We were made to feel as though once they had our business (we were submitting all required documents) that we were nothing to them. Because this company seemed to lack customer service and someone who could take the time to explain why the electronic document process was so tedious, I had to withdrawal my request for a refi.

By: Dave (Philadelphia, PA)
See All Reviews
Sebonic Financial
5/1 ARM
Interest Rate
2.625%
APR
3.462%
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 $4,335
Lender Credit $0
Total Closing Fees* $4,335
*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

Very Impressed

Yes, I recommend this lender

Requesting a loan with Sebonic was a very satisfying experience. I was contacted promptly and professionally, and the loan originator, Scott Galbraith, was very professional and friendly. Although I decided to not complete the loan, Sebonic did offer the best rates I saw out there, and provided a very professional service. I would recommend Sebonic for anyone seeking a mortgage.

By: Daniel (Boca Raton, FL)

Great rate, quick and easy close

Yes, I recommend this lender

I recently utilized Sebonic/Cardinal to close a no cash out Refinance. It was an extremely smooth process and I received a clear to close less than 2 weeks after my initial call in. It was very refreshing because I had originally been working with the old servicer (not Sebonic) of my loan and it was a painful process working with them. Then I went to two well-known online lenders (also not Sebonic) and the first kept adding new, unnecessary, conditions as the other conditions were cleared and kept delaying the clear to close. Full disclosure - In a previous life, I was a mortgage underwriter/AE for a number of years so I have background experience. The loan officer at the second lender played games right off the bat so I was done with them. He told me on the phone that I would be bringing nothing to the table. When I saw the Loan Estimate Disclosure, he had raised my loan amount and rolled higher closing costs (large origination) into the loan. Then, thankfully I found Sebonic through a Google search. I called and spoke with Kobie, my Loan Officer. He was very straight forward and up front regarding rates and fees and I felt comfortable with him on the phone, but I still wanted to see the Loan Estimate Disclosure. I received it and it matched what was said during our conversation. Fees were very reasonable, so much so that I was able to buy down the rate even more. I received the conditions list the next business day and the loan processor contacted me to set up a phone call to review and answer any questions I may have. I submitted all conditions online (relatively user friendly interface). There were some disclosures that needed to be signed/scanned as well. Communication via phone and email was very efficient. My loan processor Jervay was almost always available via phone, and if I left a message, he responded back promptly. Email replies were also prompt. I received a clear to close less than 2 weeks after my original conversation with the loan officer. I had been a tad worried with the 30 day lock, but obviously Sebonic knew that they can turn around some loans very efficiently. Also, everyone I was in contact with was very pleasant. I never felt like I was being pushed or ignored which I had experienced with the other lenders. Overall, A+ experience and I highly recommend.

By: RA (Chantilly, VA)

Sebonic was quick, inexpensive and easy

Yes, I recommend this lender

After receiving what I perceived as poor service at Quicken I walked away from them the week of the scheduled closing and went with Sebonic. As far as I am concerned it was a great decision as I closed quickly with a slightly better rate and lower closing costs. James Dawkins was assigned to push my loan through and he was very responsive and helpful. For the closing they sent a notary to my home and with a little help from James everything was done in about 45 minutes. This was probably about my 20th loan / refi and the first that was done almost entirely via the internet. The internet added a few twists to the process but overall it was painless.

By: Andrew (Pinehurst, NC)
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

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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.