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Mortgage Refinance

Is Texas Lending a Good Company? What to Be Aware Of

The first step to any successful home purchase in Texas is choosing the right local mortgage lender for your home buying needs. While most first-time homebuyers opt for lenders that offer them great rates, you should go for a lender that is willing to offer you a mortgage that answers all your needs.

With a review rating of 4.9 out of 5 on BirdEye, Texas Lending, a mortgage company located in the heart of Dallas, is a good lender. More importantly, with over tens of thousands of home loans closed and funded, Texas Lending meets the mark of an excellent mortgage company.

While these online reviews are a great source of social proof for the company’s reputation, you should learn more about the lender before you decide to apply for a mortgage loan to see if they’re indeed the best fit for you. The following are some things you know about Texas Lending.

What is Texas Lending?

Texas Lending is a mortgage company based in the heart of Dallas, Texas. Founded in 2001 by Kevin Miller, Texas Lending, which is a subsidiary of Aspire Financials Inc., has gone on to become one of the prominent mortgage lenders in the state of Texas and beyond.

With tens of thousands of home loans closed and funded over the last 19 years, it’s a force to reckon with in the US mortgage industry. In recent years, Texas Lending is gradually breaking into new grounds with offices in states like California, Florida, Louisiana, Arkansas, Oklahoma, and New Mexico.

The primary mission of Texas Lending is to make home loans easily available to the average homeowner. This is made possible with its variety of loan packages that can accommodate borrowers with diverse financial situations.

Texas Lending is one of the few mortgage bankers in the Lone Star State approved by the US Housing and Urban Development to issue VA and FHA loans with a dedicated in-house underwriting team. They also offer a reversal mortgage program that targets elderly citizens.

In recognition of the exceptional service of Texas Lending, it was voted among the Top 200 FHA Lenders in the US. In the Dallas-Ft. Worth Metroplex, Texas Lending has won the Consumer Choice Award for Business Excellence (mortgage firm category) for seven consecutive years.

What Services Does Texas Lending Offer?

One of the upsides to collaborating with Texas Lending during your home buying journey is the opportunity to benefit from an array of mortgage services/packages. Currently, Texas Lending offers four main services:

Purchase Loans

Texas Lending is popular for its excellent loan program. Texas Lending offers purchase loan types like Conventional loans, FHA loans, VA loans, USDA loans, Non-Q-M loans, and Jumbo loans.

Refinance Loans

Texas Lending also offers loan refinance services that allow you to refinance your current mortgage to a better loan with lower interest rates. This allows you and your family to save more on mortgage payments. You may need to reach out to the expert loan originators at Texas Lending to find out more about their rates or the process.

Home Equity

Do you need money to do a major repair or improvement in your home? Using your home equity as collateral may be a great way to get the necessary fund to get the work done. A home equity loan is a type of loan that allows homeowners to use the equity in the home as collateral for a loan. This is only possible if your home value is greater than the mortgage you owe on it.

Texas Lending offers a home equity loan package that allows you to use your home as collateral. One of the major requirements by Texas Lending concerning this type of loan is that you cannot make use of a commercial or investment property—primary residences only.

Reverse Mortgage

One unique loan offering offered by Texas Lending that is uncommon with most mortgage lenders in Texas is its reverse mortgage. A reverse mortgage is a loan that allows elderly citizens over the age of 62 years to borrow money on their home equity. Generally, this loan is either released to you in a lump sum or as monthly payments.

Texas Lending offers a reverse mortgage to its elderly clients as a way of helping maintain their living costs, medical costs, or even purchasing a new vacation home.

Before Applying with Texas Lending

If you’re convinced that Texas Lending is the right company for your home financing needs, here are a few final things you should know before applying:

  • Get your property insurance ready to avoid delay in your escrow closing.
  • Keep all originals of your paystubs, bank statements, and other relevant financial documents.
  • Your credit score is important and may play a role in your required down payment amount, interest rate, and monthly mortgage payments.
  • Keep all records of employment and income.

Final Thoughts

Texas Lending, over the years, has proven to be a great mortgage lending company with an array of mortgage packages. Before you decide to work with them, review their services and make sure that they suit your home financing needs.

By Lah

My vision in the mortgage industry is to NOT be just another application emailed to any borrowers. I want my clients to know I'm here for them even after they get approved for their home loan.

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