Today’s Mortgage Rates in Texas, Mortgage Rates Lenders
Today’s Mortgage Rates in Texas, Mortgage Rates Lenders
Texas Premier Mortgage – Voted The #1 Mortgage Broker in Houston
How to Find the Best Mortgage Rates
Mortgage rates can change daily and can vary widely depending on the borrower’s personal situation. The difference can mean tens of thousands of dollars over the life of the loan. Here are some tactics to help you find the best mortgage rate for your new home loan.
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Shop Around
You may be tempted to just use the lender who your real estate agent typically works with, but that doesn’t guarantee you’ll get the best rate for your home loan. It’s best to compare official Loan Estimates from at least 3 different lenders to make sure you’re getting a competitive interest rate.
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Compare Fees
The mortgage rate isn’t the only factor when it comes to the cost of your home loan. Be sure to look at each lender’s fees and closing costs to fully assess the cost of the loan. When you apply for a loan, your lender will give you a form called a Loan Estimate that makes it easier to compare the total cost of the loan, including fees.
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Increase Your Down Payment
Did you know that your down payment amount can have an impact on your mortgage rate? That’s because mortgage rates are generally tiered, and typically lower mortgage rates are available for those with a down payment of 20% or more. If possible, consider increasing your down payment to see if it’ll get you a lower rate for your home loan.
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Improve Your Credit Score
Your credit score is one of the biggest factors that affects the mortgage rate that you’ll be offered by lenders. Generally, the higher your credit score, the lower the interest rate for your home loan. Before applying for a mortgage, it’s best to review your credit score and get it in the best shape possible. Learn more about how to improve your credit score.
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Consider Your Loan Program
The 30-year fixed loan is by far the most common loan program, but adjustable-rate mortgage (ARM) and 15-year fixed loans offer lower rates. If you’re ok with the higher monthly payment of the 15-year fixed loan or the possibility of your rate changing with the ARM, one of these loan programs could help you pay much less interest over time for your home loan.
Why should you refinance your home loan?
- Do you want to lower your mortgage interest rate?
- Would you like to shorten your home loan term?
- Do you want a lower monthly mortgage payment?
- Do you need to consolidate debt?
- Would you like to pull cash out from your home’s equity?
- Do you have a second mortgage that you’d like to combine with a first mortgage?
- Do you want to switch from an adjustable-rate mortgage(ARM) to a fixed rate?
- Do you need to remove someone from your current home loan?
Texas Premier Mortgage helps clients in the Houston area to purchase homes, refinance existing mortgages, and consolidate debt. The A+ BBB rated full-service lender works with clients every step of the way to approve, close, and fund a home purchase. The company offers a range of mortgage options including FHA, VA, USDA, Jumbo, and conventional loans for a variety of properties. A staff of experienced professionals at Texas Premier Mortgage will help choose the right product for individual client credit profiles.
After we discuss your current mortgage situation, we will go over your short and long-term goals. From there, we will present you with the best available home loan options. Once you determine the best mortgage option for you and your family, we will set up an appointment to go over your new mortgage line by line. Today’s Mortgage Rates in Texas, Mortgage Rates, Today’s Mortgage Rates in Texas, Mortgage Rates Lenders
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