Texas Mortgage Rates

July 30, 2016 05:11 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

Interest Rate
3.125%
APR
3.262%
Monthly Payment
$857
Sebonic Financial
30 Year Fixed
Interest Rate
3.125%
APR
3.262%
Monthly Payment
$857
(844) 284-9237 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 $857
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $857
Lender Fees $3,437
Lender Credit $0
Total Closing Fees* $3,437
*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

Thomas Denton

Yes, I recommend this lender

Tom did a great job helping us with our refinance. He walked us through each step of the process. We closed on time, with even a better rate than we expected.

By: Jamie (Thomasville, NC)

I recommend Renato Paz

Yes, I recommend this lender

excellent

By: albertina (Leesburg, VA)

I recommend Renato Paz

Yes, I recommend this lender

He explained the proses, and he speaks spanish, he's good and very helpful, I already recommend to my family

By: albertina (Leesburg, VA)
See All Reviews

15 Year Fixed

Interest Rate
2.500%
APR
2.692%
Monthly Payment
$1,334
Sebonic Financial
15 Year Fixed
Interest Rate
2.500%
APR
2.692%
Monthly Payment
$1,334
(844) 284-9237 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 $1,334
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,334
Lender Fees $2,691
Lender Credit $0
Total Closing Fees* $2,691
*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

Thomas Denton

Yes, I recommend this lender

Tom did a great job helping us with our refinance. He walked us through each step of the process. We closed on time, with even a better rate than we expected.

By: Jamie (Thomasville, NC)

I recommend Renato Paz

Yes, I recommend this lender

excellent

By: albertina (Leesburg, VA)

I recommend Renato Paz

Yes, I recommend this lender

He explained the proses, and he speaks spanish, he's good and very helpful, I already recommend to my family

By: albertina (Leesburg, VA)
See All Reviews

5/1 ARM

Interest Rate
2.500%
APR
3.391%
Monthly Payment
$791
Sebonic Financial
5/1 ARM
Interest Rate
2.500%
APR
3.391%
Monthly Payment
$791
(844) 284-9237 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 $791
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $791
Lender Fees $4,045
Lender Credit $0
Total Closing Fees* $4,045
*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

Thomas Denton

Yes, I recommend this lender

Tom did a great job helping us with our refinance. He walked us through each step of the process. We closed on time, with even a better rate than we expected.

By: Jamie (Thomasville, NC)

I recommend Renato Paz

Yes, I recommend this lender

excellent

By: albertina (Leesburg, VA)

I recommend Renato Paz

Yes, I recommend this lender

He explained the proses, and he speaks spanish, he's good and very helpful, I already recommend to my family

By: albertina (Leesburg, VA)
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.

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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.