Texas Home Mortgage | TX Home Mortgage Rates

 Are you looking for a downtown loft in Houston, a ranch-style home in Armarillo, or a cozy condominium in the Dallas/Fort Worth area? Whatever your Texas home-buying needs, you can depend on us to provide you with priceless mortgage information and top-rated TX mortgage lender references.

Familiarize Yourself with the TX Home-Buying Process

The first and most important step in the Texas home-buying process is to learn as much as you can about mortgages and standard procedure, especially if you are a first-time homebuyer. Sure, you can learn most of what you need to know online, but it also helps to speak with someone who has already purchased a Texas home (e.g. family member or friend), or someone who is a certified professional (e.g. real estate agent or mortgage lender).

The more you understand about Texas mortgages, including fees, closing costs, down payments, rates, points, insurance, and repayment schedules, the easier it will be to buy (and get the best deal on) your TX home.

Choose Your Mortgage Lender

For first-time homebuyers, it is especially important to surround yourself with people who are knowledgeable, trustworthy, and have your best interests in mind. This is where we can help. By telling us a little about your home-buying goals, we’ll match you with a trusted Texas mortgage lender offering low mortgage rates, great terms, and excellent customer service.

Whether you hope to purchase an energy-efficient home in the heart of San Antonio, a house near the University of Texas in Austin, a cabin in Waco along Interstate 35, or a waterfront condo in Corpus Christi, let us help make the process easy, fast, and stress-free. Read below to learn a few helpful TX mortgage tips and tricks.

Understanding APR

When you apply for a loan, you’re given two different rates: the stated rate and APR. The stated rate is the amount you’ll pay per year on just your mortgage. APR (Annual Percentage Rate) is the actual rate you will end up paying over the life of the loan, as it includes all additional costs like upfront fees and closing costs. APR is the rate you should pay closest attention to; it is also a great way to compare mortgages that have different closing costs.

Understanding Texas Mortgage Types

Lenders offer many types of  mortgages, because each homeowner has different needs and goals. Here are two of the most popular types of Texas mortgages.

• Texas Fixed Rate Mortgage - A Fixed Rate Mortgage (FRM) is aptly named, as it is a mortgage that has a fixed, or unchanging, interest rate. The rate you’re issued at the time of closing is the rate you’ll have for the entire loan term. This means that your monthly mortgage payment will always be the same. Homeowners wanting a predictable repayment plan, or those who will likely remain in their Texas home for many years, often choose a Fixed Rate Mortgage.

• Texas Adjustable Rate Mortgage - An Adjustable Rate Mortgage (ARM) is also aptly named, as it is a mortgage with an adjustable, or variable, interest rate. The rate can increase or decrease, depending on current market conditions. This means that your monthly payment could fluctuate from time to time, with the possibility of increasing. Most lenders recommend Adjustable Rate Mortgages to individuals who expect to only live in their Texas home for a couple of years, or to those who are comfortable with the increased risk of a variable interest rate. An ARM generally has a lower initial interest rate than a FRM, which means that you may be able to qualify for a more expensive home.

To learn more about Texas mortgages and receive a free no obligation mortgage rate quote contact us today!