Texas Mortgages

With a diverse range of housing offered in Texas, there are homes and Texas mortgages available for buyers in every price range. In addition to purchasing primary residences, many homeowners are looking to purchase second homes or investment properties along the Texas coast. Texas Interest Only Loans and Texas 1.25% Pay Option Loans are great mortgages to consider. Both of these loans are great for homeowners who have a lot of equity in their homes and offer some of the lowest interest rates available, which keep monthly payments low. Texas Interest Only Loans allow you to pay only the interest for a specified initial period of time (Examples: 3, 5, 7, or 10 years). After the initial interest only period, the principal balance originally borrowed is due in full over the remaining term of the loan. The Texas Interest Only Mortgage is a good choice for homeowners who live in areas that are appreciating rapidly.

The Texas 1.25% Pay Option Loan does just as the name suggests, it offers you four options for paying your monthly mortgage: the 1.25% minimum payment option, an interest only payment, a 30 year fully amortized payment, and a 15 year fully amortized payment. This loan allows homeowners to choose the payment option that fits best with their monthly budget. The Texas 1.25% Pay Option loan is popular among commission paid borrowers or borrowers who rely heavily on bonus income throughout the year. Homeowners can make substantial gains on their mortgage with the low interest rate offered with the Texas 1.25% Pay Option mortgage. This loan can be a bit risky for borrowers living in areas that are not appreciating at substantial rates. Call today 1-877-673-3282 to speak to a representative about a Texas 1.25% Pay Option mortgage or a Texas Interest Only mortgage.