Texas Lending

Known to many of its customers as Texas Lending, mortgage banker TexasLending.com was founded in 2001 with the goal of providing affordable mortgage rates to future homeowners. Based in Dallas, TexasLending.com is licensed to close mortgages in nine other states, including Michigan, Missouri, Tennessee, Florida, Colorado, Arkansas, Kansas, Oklahoma and Louisiana.

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Texas Lending Home Buying Experts Discuss Home Search Strategies

Finding the right neighborhood is important. Read on as Texas Lending explores ways to pick the perfect community for your next new home.

Q: What sort of things should I look for during my initial search?

Texas Lending: Before you even begin browsing the MLS, take some time to write down what you really want. Is it access to top-notch schools? A community swimming pool? Do you need a large yard or want to live in an HOA neighborhood that provides lawn care? Your “wish list” is going to be as unique as you.

Q: Should I believe everything I read online about the area?

Texas Lending: The Internet is valuable for research, but make sure to use trusted websites. Zillow offers several tools that can help you make a selection, and most area police departments will offer a link to local crime maps and data. Check around for a community blog or neighborhood-oriented social network such as NextDoor.com.

Q: How can I get a feel for the school system before moving?

Texas Lending: Even if you don’t have school-aged children, the school system is important to the community. Homes in “good” school zones will likely have more value than those where education isn’t a priority. If you can, call the schools your future home is zoned for and ask about making a school visit so that you and your children can get acquainted with teachers and staff. You can also find out more information, including test scores and parent reviews, by visiting GreatSchool.org.

Q: All cities will have parks, libraries, and other community amenities, right?

Texas Lending: Usually, yes, but the quality of these varies significantly. Middle-to-high income areas may have access to more programs, better books, and parks with more updated playground equipment, for example. If community features are important, it is worthwhile to check them out before you sign your home contract.

TexasLending.com

4100 Alpha Rd Suite# 112 Dallas, TX 75244 NMLS# 137773 NMLS# 138112

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Texas Lending Shares Insight on Holiday Home Buying

Few people really want to move during the holidays, but according to the mortgage experts at Texas Lending, a new home may be the best gift in Santa’s bag for the 2017 season and a great way to start your New Year.

Q: Are mortgage rates projected to rise in 2017?

Texas Lending: There is a good chance that rates will climb starting as soon as the end of the year. That means that people looking for a new home will likely get the best rates now. In addition to low rates, the winter months are a great time to house hunt since there are typically fewer buyers to compete with.

Q: Are sellers less motivated to sell during the winter season?

Texas Lending: Sellers whose homes were listed during the peak season are likely tired and ready to move on. Many must relocate due to jobs, family, and financial situations that make it difficult to remain in their current home. Chances are, a high-priced home that was listed over the summer may be the best deal come winter.

Q: How does the off season affect buyers?

Texas Lending: One of the greatest benefits to buying now is that there is an abundance of real estate and mortgage professional available. During the summer, the best agents may have multiple buyers they represent. In the winter, these same experts usually have more time to devote to their cold-weather clients.

Q: Is it possible that interest rates will stay the same in 2017?

Texas Lending: Rates change from week to week. As the economy strengthens, rates will most likely rise. If you are looking to buy a home, now is a great time to at least start your search and make your wish list.

There is no better time to lock in a historically low mortgage rate. Contact Texas Lending at 888.228.8196 today for more information.

TexasLending.com

4100 Alpha Rd Suite# 112 Dallas, TX 75244 NMLS# 137773 NMLS# 138112

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Texas Lending: Money Talks

Mortgage and financial experts from Texas Lending explain why we shouldn’t be afraid to discuss finances in the following Q&A.

Q: Money isn’t considered an acceptable topic of conversation in “polite society.” Why is that?

Texas Lending: It can be a difficult exchange to have for a number of reasons. Some people may be ashamed of their spending habits or lack of financial understanding. Others may avoid mentioning money because they feel guilty for making either too much or too little as compared to their friends and family.

Q: Should we, as a society, learn to be more open about money matters?

Texas Lending: Absolutely. We wouldn’t suggest talking about your paycheck and financial obligations to strangers on the street, but having a close friend, spouse, or financial advisor to converse with regarding spending, saving, and other money-related topics can be helpful. Talking about money helps us better understand what we are doing right – and wrong – where our spending habits are concerned.

Q: How important is it for couples to discuss finances?

Texas Lending: Many married couples fight over one thing: money. It’s a good idea to understand each other’s expectations and financial strategies so that it doesn’t interfere with the relationship down the road. As well, parents should maintain an open line of communication with their kids about money. Money management is an important life skill that should be taught early on.

Q: What are some ways to talk about money without feeling awkward?

Texas Lending: First, remember that talking about money doesn’t mean dropping numbers. The important thing is to be able to communicate strategies and share tips with friends and family. Your experiences may help someone else avoid costly mistakes. The more you talk about money, the less uncomfortable the topic will be.

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Q&A with Texas Lending: HOAs

If you dream of a well-kept residential setting with swimming pools, walking trails, and other top-notch amenities, then an HOA community is probably in your future. In the following informational Q&A, mortgage lenders from Texas Lending explain the pros and cons of living in a Homeowner’s Association (HOA) neighborhood.

Q: What is an HOA?

Texas Lending: You might think of an HOA as functioning like a micro government – responsible for a specific neighborhood or set of neighborhoods. Most planned communities, condominiums, and upscale subdivisions are subject to Homeowner’s Association rules, regulations, and guidelines. People who buy a home in an HOA neighborhood are automatically members, with all the rights and privileges of every other homeowner under the umbrella of the HOA.

Q: What are the benefits of an HOA?

Texas Lending: Many HOA communities have a number of amenities available exclusively for resident use. This could be anything from private fishing ponds and swimming pools to a community fitness center or lawn care. HOAs act as an intermediary during resident disputes and also enforce the rules laid out in their covenants, conditions, and restrictions (CC&Rs).

Q: Are there any downsides to living in an HOA neighborhood?

Texas Lending: A Homeowner’s Association can choose to restrict how many vehicles a family can have on their property as well as exterior paint colors or even lawn care designs. Some HOAs don’t allow for yard sales or unsanctioned outdoor events. For this reason, homeowners who value creative expression and unregulated use of their personal property may want to steer clear of HOAs.

Q: How much does it cost?

Texas Lending: Each HOA establishes their own fees, which are paid monthly, quarterly, or annually. This typically ranges from $20 to $1000 but can run upwards of several thousand dollars per year, depending on the area, size of the neighborhood, and amenities. HOA fees should be considered when looking for a home, as it can exponentially increase one’s cost of living.

TexasLending.com

4100 Alpha Rd Suite# 112 Dallas, TX 75244 NMLS# 137773 NMLS# 138112

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Texas Lending Says Underwriting Is Final Step to Loan Approval

Many first-time homebuyers mistakenly believe that a pre-approval guarantees their loan. According to mortgage experts at Texas Lending, that’s not exactly right. Once it has been preapproved, there are still steps that must be taken to finalize the loan and close on the home.

The final loan approval step is called underwriting. Reps from Texas Lending explain that this is the process utilized by lenders to determine buyer eligibility. The underwriting process helps the lender determine the risks they will take if they approve the loan. The vast majority of today’s mortgages are either approved or denied based on guidelines established by Freddie Mac, the FDA, or Fannie Mae. The housing market crash of 2007 prompted lenders to adhere to tighter underwriting regulations.

The underwriting process, though not typically more than a few days long, can be a worrisome time for homebuyers. During this time, the underwriter will check a buyer’s credit score with all three major credit reporting agencies: Transunion, Experian, and Equifax. Any red flags, such as bankruptcies, collections, or excessive outstanding debt, may cause a delay in approval. (Texas Lending Tip: request your credit reports from each of these agencies before you begin your home search to eliminate surprises.). Be aware consumer credit reports may differ from lender reports.

An underwriter’s job is to assess the borrower’s financial capability, according to the mortgage experts at Texas Lending. Once a buyer’s credit score passes muster, the underwriter dives deeper into his or her financial history, checking income and assets and verifying the borrower has enough cash on hand for a down payment.

Soon after the underwriting process is complete, a closing date is scheduled. Closing usually takes place at a title company. Many buyers will be required to provide proof of homeowner insurance before taking possession of their new home.

Texas Lending can answer all your mortgage questions. Call 888.346.8047 today and start your home search tomorrow!

TexasLending.com

4100 Alpha Rd Suite# 112 Dallas, TX 75244 NMLS# 137773 NMLS# 138112

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Texas Lending Q&A: It’s Prime Time to Buy a New Home

If you're thinking about buying a home, now may seem like a tempting time to take the plunge. Mortgage rates are still low, but many experts believe that rates will rise over the next few years. Below, Texas Lending offers some helpful tips to consider when deciding if now is a good time to buy.

Q: Is now a good time to make a move if I am considering the purchase of a home?

Q: Are interest rates expected to rise anytime soon?

Texas Lending: Interest rates are still unbelievably low. But as the fed begins to loosen the grip on holding down interest rates, purchasing a home is likely to get increasingly more expensive.

Q:  What determines a buyer’s interest rate?

Texas Lending: In addition to current mortgage rates, additional factors determine your interest rate, such as credit history, the amount of your down payment, and the total loan amount. Basically, the lower the risk you present, the lower the interest rate will be.

Q: Do rising interest rates mean higher home prices?

Texas Lending: Yes. Unfortunately, sometimes buyers wait too long and then the same homes they were interested in 6 to 10 months ago go up in value, taking the buyers out of that price range. So now they can't make an offer on the ones they could have several months ago...

Q: Do you believe that real estate will always be a good investment?

Texas Lending:  Real estate will always be a good investment, especially if you plan on buying and holding – whether you plan on living there or renting it out. Values go up with time. Even if the home’s value dips for a while, it will eventually rise back up.

  TexasLending.com 4100 Alpha Rd Dallas, TX 75244 NMLS# 137773 NMLS# 138112

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TexasLending.com Offers VA Loans for American Military Personnel

Q: What are the requirements for obtaining a VA loan in the U.S.?

TexasLending.com: Most members of the military, reservists, National Guard members and veterans may apply. Active-duty members qualify upon completion of their first six months in service. A Texas Lending customer service representative can fully explain all the requirements during your initial phone call.

Q: Why should veterans seek out Texas Lending when considering the purchase of a home?

Q: When is a VA loan appropriate?

TexasLending.com: For individuals who have credit issues, previous foreclosures, or have filed for bankruptcy – either Chapter 13 or Chapter 7 – a VA loan may serve as a valuable tool for financing a home.

Q: What services make Texas Lending the right choice for people looking for a VA loan?

TexasLending.com: All of the possibilities are right here under one roof, including VA purchase, VA interest rate reduction and VA refinance loans. IRRLs may also be available. With our easy and convenient e-signature application, it’s possible to shave days or even weeks off the process of refinancing or purchasing a home.

Q: Why should veterans feel comfortable in choosing Texas Lending for all their loan needs?

Texas Lending: Above all, members of our team fully appreciate the sacrifices of our country’s veterans and we work diligently to help veterans achieve a low mortgage payment. An online application may be helpful in determining your qualification for this loan. Veterans are also encouraged to seek out further information by contacting us via phone or email. You can expect to speak with an experienced consultant right away. For more information, visit us online at texaslending.com.

TexasLending.com 4100 Alpha Rd Dallas, TX 75244 NMLS# 137773 NMLS# 138112

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Texas Lending (TexasLending.com) Explains the Basics of Reverse Mortgages

According to the team at Texas Lending (TexasLending.com), a reverse mortgage has been used to help numerous families across the U.S. in meeting their financial needs.

Q: By definition, what exactly is a reverse mortgage and how does it apply to today’s homeowners?

Q: What factors determine the maximum amount of a reverse mortgage loan?

Texas Lending (TexasLending.com): Aspects such as interest rates, available equity, home value and the applicant’s age all play an important role in determining the amount. An applicant must possess the ability to pay property charges such as insurance and taxes in order to qualify for a loan.

Q: How will the reverse mortgage funds be distributed upon completion of this process?

Texas Lending (TexasLending.com): There are a variety of ways for distribution – as an annuity, a lump sum, a line of credit, or any combination of these three options. Keep in mind that a homeowner takes on certain costs when acquiring a reverse mortgage. In most cases, these costs include an application fee, mortgage registration fees, stamp duty and assorted government charges.

Q: What happens if I change my mind about pursuing a reverse mortgage?

Texas Lending (TexasLending.com): You will have three days to cancel the loan. One of our experienced mortgage lender can explain this process before loan closing. It’s always recommended that an applicant ask for names and contact information of their particular mortgage leader in order to make communication much easier.

TexasLending.com 4100 Alpha Rd Dallas, TX 75244 NMLS# 137773 NMLS# 138112

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Texas Lending Offers Home Loans for Clients in Bankruptcy

Q: To clear up any confusion with readers, how is “bankruptcy” defined?

Texas Lending (TexasLending.com): Quite frankly, bankruptcy is the biggest fear of many people. The standard definition? It’s the status of an individual, business or other entity that has no ability to repay outstanding debts. Bankruptcy is generally issued through a court order as requested by the debtor. In 2005, bankruptcy law was adjusted to where it is more difficult to file for bankruptcy. Although an individual or business is not required to seek out assistance from an attorney, these consultations can be beneficial when trying to sort through all the options.

Q: What are the most common forms of bankruptcy in the United States?

Q: What is the overall mission of Texas Lending when a prospective client has experienced bankruptcy issues?

Texas Lending (TexasLending.com): Although restrictions can certainly apply in all cases, our representative is there to provide insight about the loan process provide options for the client to recover from this difficult situation. Bankruptcy can offer clients a fresh start while helping them to address and rebuild their credit for the purpose of establishing firm financial footing.

Q: How is Texas Lending well equipped to handle the challenges brought on by potential bankruptcy?

Texas Lending (TexasLending.com): The loan consultants at Texas Lending are trained and ready to answer any pressing questions about how bankruptcy impacts home equity loans, refinance loans and home purchase loans.

  TexasLending.com 4100 Alpha Rd Dallas, TX 75244 NMLS# 137773 NMLS# 138112

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Texas Lending (Texaslending.com) Encourages Potential Buyers to Jump in Now

Texas Lending (Texaslending.com), a privately-held Dallas-based mortgage banker, has been serving residential homebuyers and sellers for more than a decade. At the helm of Texas Lending is Owner/CEO Kevin Miller. According to Miller and the Texas Lending team of professionals, there has never been a better time to buy a new home. Low interest rates and reasonable prices are at a perfect balance for potential buyers, confirms Texas Lending, but this will not last forever.

While interest rates for mortgages have recently been ticking up slightly, rates are still near historical lows and are hovering around 4 percent for many loans, notes Texas Lending. For potential buyers with solid credit who qualify for conventional loans, getting that 4 percent APR or lower is well within reach. It is expected that the current interest rates will likely stay the same for the next few months, but may then increase further, according to Texas Lending experts. The current low interest rates make it possible for many potential buyers to afford a monthly mortgage payment. As Texas Lending confirms, it is often less expensive to own a home, rather than to rent, in many cities today.

According to Texas Lending, in addition to low interest rates, home prices are still reasonable. Both of these factors should persuade would-be buyers to become homeowners in the next several months. Contrary to the commonly held belief by would-be homebuyers, the process and qualifications required for securing a home loan are painless. Texas Lending professionals expertly guide potential buyers through the process.

Because of the low interest rates and reasonable purchase prices, however, many housing markets are very tight, explains Texas Lending. Throughout Texas, demand for housing is suddenly outpacing the supply of homes for sale. Especially in North Texas, many first-time home buyers have scooped-up less expensive properties, and a lot of homeowners underwater have been reluctant to enter the market, so this leaves a gap in housing available in many markets. With this in mind, buyers should watch the market in their communities and be ready to jump when a house of interest goes on the market. Prices are beginning to rise once again so the time to act is now. The smart play is for prospective buyers to contact Texas Lending as soon as possible to see what interest rate and home price they may qualify for. Getting preapproved for a mortgage is almost essential for buyers in a hot market, confirms Texas Lending.

About 

Texas Lending is licensed to close residential home mortgages in 14 states and continues to explore new opportunities. For the last six years, Texas Lending has received the Consumer’s Choice Award for their high-quality mortgage banking services as voted upon by consumers in the greater Dallas/Fort Worth metroplex. To learn more, visit texaslending.com.

TexasLending.com 4100 Alpha Rd Dallas, TX 75244 NMLS# 137773 NMLS# 138112

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Texas Lending (TexasLending.Com) Explains How Social Media Has Impacted Businesses

Texas Lending has been an active part of the Dallas-Fort Worth community for more than a decade. In that time, Texas Lending (TexasLending.com) has processed thousands of loans each year, as well as winning the Consumers’ Choice Award for the past five years. Today, Texas Lending discusses how the growing popularity of social media sites is giving “word of mouth” an all new meaning.

Q: Even though Texas Lending gives customers every opportunity to tell them about any problems, customers rarely complain directly to you, is that correct?

Texas Lending: Well, the rule goes that for every customer that complains, 26 will remain silent. Those customers will instead tell 8-16 people about the bad experience. Twenty years ago that simply meant telling a few friends, but today, those customers head straight to the Internet.

Q: Why do you think these online review sites have given customers a great place to vent frustrations?

Texas Lending: Unfortunately, those sites aren’t moderated, and many of the posts are anonymous. Disgruntled customers can also take to social media sites like Facebook and Twitter, where their opinions spread to far more than the traditional 8-16 people.

Q: And these are customers that never said a word to the company during the transaction?

Texas Lending: We can only speak for Texas Lending, but generally the customer is given every chance to let the business know and says nothing. Texas Lending asks each customer to complete a survey, giving an additional chance for any negative feelings to be expressed.

Q: Are these are isolated incidents?

Texas Lending: Yes, in the vast majority of cases, customers rave about their experiences with Texas Lending. We receive so many responses from homebuyers who were able to purchase their first home, thanks to Texas Lending’s help. It’s that sort of thing that reminds us why we’re doing this.

For more information, visit Texas Lending online at www.TexasLending.com

   TexasLending.com    4100 Alpha Rd. Suite 400    Dallas, TX 75244    NMLS# 137773    NMLS# 138112

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TexasLending.com (Texas Lending) Offers Advice on Improving Your Credit Score

Texas Lending (TexasLending.com) regularly speaks with clients who have been previously denied application due to a poor credit score. In some cases, Texas Lending has found that they simply suffered a few bad spells where they were unable to pay bills. Once a person’s credit rating dips, it’s not easy to get things back on track, according to Texas Lending. But there are a few things a consumer can do to address bad credit, and today Kevin Miller (NMLS#138112) of Texas Lending is here to explain how. Q: Some people assume bad credit is unfixable, but you say there are several things a consumer can do to improve the situation? Kevin Miller/Texas Lending: The first thing we recommend when a consumer comes into Texas Lending with concerns about his or her credit score is to review the credit report in detail. Texas Lending will pull a credit report as part of the application process, and if an improvement in score is needed to qualify, the loan officer will determine if the client would benefit from a computer simulation model that can be run to determine what specific action may be required on the part of the client. This analysis can also be run to see if a score can be raised to secure a better interest rate.

For more information, visit Texas Lending online at www.TexasLending.com

   TexasLending.com    4100 Alpha Rd. Suite 400    Dallas, TX 75244    NMLS# 137773    NMLS# 138112