Home Loan

Home Loan

We're Texans, and we know what we like. We like our hamburgers fresh, our skies huge and our land as wide as any ocean. We like freedom, freedom to live how we will and we'll fight for the cause of liberty to the death. We like stability, and we like to think of a home loan as being the same for any occasion. We might like to think it, but sometimes were wrong and our stubbornness can get us into financial trouble.

From one home loan to the differing next

The rates and fees you see attached to your specific and unique home loan will be different from any other mortgage in the world, because you are unique and your home is your own. And you should expect that, you should expect someone with a different financial background to pay different rates, and you should expect that a more expensive home and a bigger mortgage will carry rates in alignment with the qualifications of the homeowner. What you may not expect is how one home loan will differer drastically form the next in rates:

• in your first mortgage you will have an options - fixed or adjustable rates. This single difference will create different monthly payments, and while you may save more from adjustable rates at the outset you will probably pay significantly more in the future.
• second mortgages carry traditionally higher rates than your first home loan, and depending on the amount you want to take out you'll see different rates as well. The amount of equity you have, the duration of your mortgage, any change in your credit or payment habits - everything will effect the rates you find in a second mortgage.

Unhappy with rates? Refinance

the last thing you want to do if you are unhappy with your current home loan is walk away and avoid home loans entirely. Owning a home is a virtually fool-proof investment, more so in Texas where the recent surge in home prices across the country has made little head way. There will be no bubble, no drop in prices and you will always stand to make money off a Texas home. But if you can find a better deal elsewhere, and if that refinance opportunity does arise, just take it. No allegiance to your lender bubba, its all you and its all about saving that cash.

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