subject: Texas Mortgage What to expect when buying a home in Texas [print this page] Texas Mortgage What to expect when buying a home in Texas
Maybe you have your first purchase of a home in Texas, or maybe you are moving to Texas from another state. However, it is important that you learn about home loans in Texas before buying a house and mortgage. This article explains what you should know before buying a home in Texas:
The median home price in Texas is $ 82,500. Recently, real estate in Texas has increased inat prices well below the national average. In addition, average interest rates in Texas are higher than the national average. However, employment growth in Texas than the national average.
Property prices in Texas, large differences between the codes. For example, in Dallas, Texas, the average price at home during the summer of 2005 was $ 261,000, but in San Antonio, Texas, the average price home was $ 220,000, andHouston, Texas, was $ 151,000.
Mortgage credit lines are prohibited in Texas. It 'also refinanced the cash will not be allowed on principal residences. When a homeowner refinancing a mortgage, the law of Texas that may be the price and conditions for financing only the loan of their age, the more points, fines and costs of closing, necessary and reasonable. The total cost of closing May not exceed 3% ofAmount of the loan.
Texas State Affordable Housing Corporation provides housing for first time buyers who are teachers, police officers or firefighters. These programs help in the purchasing process and offers scholarships for qualified buyers purchasing help. In addition, there are programs for low income families. These programs provide support for grants and lowering interest rates for borrowers in a timely monthly payments for a fee given period.
