Texas Home Equity Loan Rules, Procedures, Fees, 3% 

Texas Home Equity Loans have a State-mandated cap on fees of 3%.  You also are limited to 80% of your home’s appraised value.   You can borrow more if you’re doing an investment home equity, cash-out  loan.

As a mortgage broker, I have many banks with different guidelines .  Some banks like people with perfect credit, others don’t care as much.  Countrywide, Wells Fargo, WaMu are just a few (hey, I’m rhyming!) of my most popular banks.  When working with a  mortgage broker like Mylendingplace you simply have more options than a retail bank down the street.   You also save TIME since talking with me is like talking with 20 banks at once.

Also,  mortgage brokers must disclose all our fees.   Banks are not required to do so.  

 Speaking of mortgage fees on Home equity loans, did you know you don’t always have to pay your fees when you want to do an Home Equity loan?  Some banks will pay most of your closing costs.  Call my office at 996-8194 or my cell 577-2958

http://www.mylendingplace.com

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Austin Texas Mortgage News:  Good News/ Bad News.   Which do you want first?

The good news:   Mortgage rates are really good.   Even if rates go up in the next 3-6 months, it’s better to buy now than before the “credit crunch.”     Read the rest of this entry »

Ways to reduce the closing costs associated with your home loan:

Let’s talk about closing costs that are associated with any home loan.    Most people only think in terms of the loan’s interest rate,  but there are other costs to consider when getting a mortgage.

1) The Cost of the money; AKA the interest rate.

2) The Cost to get the rate ; AKA closing costs.   Read the rest of this entry »

Austin Texas Mortgage Broker #1, by Citysearch.com 

Thank you Austin for making www.mylendingplace.com the #1 rated mortgage company!

996-8194 office

577.2958 cell