texas mortgage

HUD Reverse Mortgages

Texas 2nd Mortgage

Home Equity Loan

Fannie Mae Grants

Refinance Options

Poor Credit Lender

ARM Low Option Rate

• Private Investor
• Online Lender
• Brokerage Service
• Commerical Bank
• Credit Union

MORTGAGE FAQs

Q: How old do you have to be for a reverse mortgage?

A: To be eligible for a HUD reverse mortgages, the HUD's Federal Housing Administration (FHA) requires that the borrower is 62 years of age or older.

Q: How much can you borrow on a Home Equity loan?

A: Texan homeowners can borrow up to 80 percent of the appraised value of their home as collateral. You cannot be eligible if you have less than 20% or less equity in house value.

If you have more mortgage questions, contact us now so we can help you!

Q: Why can I only borrow up to 80 percent of a loan amount?

A: It was voted in Texas to limit the amount to 80 percent to help avoid overextensions of credit and protect our economy during times of economic slowdown.

Q: How does the Truth Lending Act protect me?

A: The Federal law requires for consumer loans disclosure of a truth in lending statement. The total cost of credit such as the APR and other details of the loan are included within the statement summary. This allows consumers to become fully aware of the specifics of their loans.

Q: What if I have less than 20 percent to put down on a home?

A: If you only have less than a 20 percent, it is possible you may be required to purchase private mortgage insurance (PMI). This is to protect the lender on the mortgage, in case the property has to be foreclosed.

Q: What can Fannie Mae grants do for me?

A: Fannie Mae can help provide you with the ability to achieve homeownership. Since 1968, Fannie Mae has helped more than 63 million families become first time homeowners.

Looking for the Texas mortgage quote that fits your needs? Contact us today to obtain the loan your looking for!