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Mortgage lenders in Texas
Closing costs can be high, but government assistance can help eligible homebuyers.
Fully explore government assistance options, compare closing costs and keep your mortgage from becoming a Texas-sized headache when you go to buy your dream home.
Mortgage lenders for veterans in Texas
Specialized land and home loans are available to veterans looking to settle in the Lone Star State through the Texas Veterans Land Board. Eligible Texans can pay as little as 5% down for a land loan and even less down for a low-rate home loan.
How to compare mortgage lenders in Texas
A good way to gauge a lender is to learn how much you’re required to put down and the APR you’re eligible for, along with any minimum credit requirements.
Programs through the Texas Department of Housing and Community Affairs include My First Texas Home designed for first-time homebuyers and My Choice Texas Home, which doesn’t have the first-time requirement. These programs can ease the financial burden of down payments and closing costs.
What to consider when looking for a mortgage in Texas
Texas supports state programs designed to encourage homeownership, and they aren’t limited to first-time homebuyers. Review the Texas Department of Housing and Community Affairs website to learn about benefits and eligibility. Veterans can apply for specialized mortgages and cost assistance through the state’s Veteran Land Board.
Texas requires that both the broker and sales agent you end up working with are licensed by the state. It’s required by the Texas Real Estate Commission, and it protects you if something goes wrong.
Closing cost fees in Texas
Closing costs can take a hefty chunk of change if you don’t qualify for one of the state’s government programs. Analyzing a 2019 sample of data, our researchers found that Texas comes in at No. 36 in the ranking of states from lowest to highest closing costs in the US, including Washington DC.
Qualifying for a TDHCA or VLB program can cut thousands of dollars from the upfront costs you’ll pay on a mortgage in Texas.
Before moving forward with a lender, learn more about mortgages and the factors to weigh when comparing your options for the best fit with your budget and goals.
Frequently asked questions
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Hometap equity partners review Access your equity through a partnership that shares in your home’s appreciation — or not — over 10 years.
How often can you refinance your home? You can refinance your mortgage as often as it makes sense.
What is a cash-out refinance and is it right for me? Find out how it works and if it makes sense for your current situation.
How to prepare for a mortgage refinance appraisal Removing clutter, repainting and updating fixtures can help increase your appraisal value.
Tips for refinancing a mortgage with bad credit You may still qualify for a mortgage refinance with damaged credit.
No-closing-cost refinance: Does it make sense? A no-closing-cost refinance has zero upfront fees, but may still cost you.
Mortgage rates in Hawaii Hawaii mortgage rates typically come in slightly below the national average.
Mortgage rates in New York Mortgage rates in New York generally fall below the national average and don’t vary much between loan types.
How the coronavirus may affect your mortgage Buyers and owners stand to gain as mortgage rates drop due to COVID-19. But longer waits.
HARP loan program alternatives in 2020 There are other government programs that can help you lower your interest rates and monthly payment to keep you from delinquency.