Texas Home Equity Loans | “Cash Out” mortgage Refinance | Austin, Texas

Home equity loans are used when you want to borrow a specific dollar amount against the equity in your home, and are available on both homestead and non-homestead properties. A homestead property is generally considered your primary residence in Texas. A non-homestead property is typically a second/vacation home, or a rental/investment property.

One can pull cash out of their primary residence as well as their investment property.  

The money can be used for a variety of purposes, such as refinancing, home improvements, debt consolidation, vacations, and more.

Texas Mortgage Refinance Application Read the rest of this entry »

Today’s Texas mortgage rates are slightly lower, down .125%.  Today’s 30 year fixed rate is 6.00% and the 15 year rate is 5.5%.  (April 21, 2008)

40-Year Fixed 6.375% 6.573%
30-Year Fixed 6.000% 6.226%
20-Year Fixed 6.000% 6.301%
15-Year Fixed 5.500% 5.873%
5-Year ARM 5.875% 5.711%

Austin Jumbo Loans – Amounts that exceed conforming loan limits of $417,000
40/30 Fixed-Rate Balloon 7.875% 8.025%
30-Year Fixed 7.250% 7.408%
15-Year Fixed 6.500% 6.749% Read the rest of this entry »