texas mortgage rates

Your Texas Mortgage Rates

Lending Source

10721 Jackson Lane, Frisco TX 75035

Phone: (214) 387-0683       Fax: (214) 387-0185       Email Us

Looking to buy or sell a home?

 

What is Home Equity

 

Equity is the difference between your home's current appraisal value and how much you owe on it.

For example, let's say you bought your home for $100,000, and at the time of purchase, you put 20 percent down payment ($20,000), and have managed to pay $10,000 towards the principle of your property. If your home's current appraisal value is $200,000, then you have $130,000 of home equity.

In order to tap into that stored money, you can either sell your home to get the entire equity, or you can refinance your mortgage if you don't need all that money at once. The second option also has the added advantage of low interest rates and tax deductibility.

Home equity loans allow you to borrow against the value of your home. They generally have a higher interest rate than first mortgages, but they are a bargain compared to the interest rates on some credit cards.

However, if you default on repaying your home equity loan, you can lose your home. That is why the majority of borrowers who obtain home equity loans are often middle-aged with secure jobs, with an average household income of $63,000, according to the Consumer Bankers Association.

 

 
  Correcting Your Credit  
  FHA Programs  

  Mortgage Programs  
  Home Equity Loans  
Mortgage Lending Company Shop the Right Way
Home Mortgage Loan Make your  Dreams a Reality
Option Loans
Avoid Paying PMI
Two Step Mortgage
 
Home Equity Lenders
Home Equity Loans - What You Can Do With The Money
Home Equity Loan Refinancing
Cancel Your PMI
Home Equity Line of Credit Benefits
  Real Estate  
  Finding A Realtor  
Real Estate Contract Basics
Licenses For Flipping Real Estate
Finding Home Inspectors
Writing Real Estate Offers
Earnest Money Deposits
 
Why Do Agents Advertise?
Listing Agents vs. Selling Agents
Finding Reliable Realtors
Agents Work For You
Commission Vs. Flat Fee Realtors

Mortgage Glossary1

 

Apply Online

 

 

 

 

Mortgage Rates Apply Online Credit Basics

Home Equity Basics

Mortgage Basics

Contact Us

About Us

Mortgage News  Helpful Articles

Mortgage Calcultator

 

 

 

 

 

 

 

 

 

 

 

 

 

 

         

OPEN MORTGAGE
10721 Jackson Lane, Frisco TX 75035

PHONE:
214-387-0683 EMAIL: info@brown-lending.com


 

"Your reliable Dallas Mortgage Broker and specialist on Texas Mortgage Rates and Home Mortgage Loans."