With countless mortgage banking firms now owned by large banking, hedge fund, and wall-street investment banks, Texas Trust, on the other hand, is a family owned and independent mortgage banking company. This would allow for a more promising and positive banking relationship with their clients, suiting their financial lifestyle as much as possible.
“Members aren’t numbers, they are part owners in a tradition that’s lasted over 75 years.” From easy online application to no hidden fees or charges, Texas Trust offers you low-cost mortgage rates and a versatile selection of Mortgage loans suitable for just about any new home-buyer.
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Table of Contents
Texas Trust Credit Union Mortgage Summary:
- Apply Now
- Account Type: Mortgage Loans
- Availability: Texas
- Expiration Date: None
- Additional Advise: Have the necessary documents and validation information ready to make your process as smooth as possible.
- Closing Loan: Standard lock period is 15-30 days
Texas Trust Credit Union Mortgage Types:
|30 Year Fixed||3.500||0.180||3.555|
|15 Year Fixed||2.750||0.249||2.857|
|10 Year Fixed||2.625||0.422||2.817|
|5 Year ARM||2.750||0.396||3.623|
|10 Year ARM||3.250||0.239||3.595|
|*Loan amounts are limited to $424,100|
|30 Year Fixed FHA||3.250||-0.973||3.388|
|15 Year Fixed FHA||2.750||-0.220||3.037|
|*Loan amounts are limited to $424,100|
Texas Trust Mortgage Features:
- Easy online application.
- No mountain of paper work to mail – Upload your documents directly online.
- Save time and money – Review and electronically sign your loan documents online.
- No hidden fees or charges – See your rates and closing costs before you commit.
Texas Trust Mortgage Process:
- Search Loans Online – Review their loan programs online with your specific terms. As an upfront lender, we have no hidden fees, so it is easy to see what your loan is going to cost you.
- Apply – You can either complete our loan application online, or call us to complete your loan application over the phone. This process takes between 15 to 30 minutes.
- Authorize Credit Pull – They will pull your credit from all three bureaus (Equifax, TransUnion, and Experian).
- Lock-In Your Rate – You can request your rate lock over the phone with your loan originator at any time during your loan process. Your rate must be locked at least 15 days prior to your closing date. In some cases we may require an appraisal report and information from your Condominium or Home Owners Association prior to locking in your rate.
- Sign Initial Disclosure – For faster processing, we will send out initial disclosures by email for you to sign electronically. Once these disclosures are signed, we will order the appraisal report.
Below are examples of supporting documents which may be included in a loan file:
- Pay Stubs covering the customer’s most recent two pay periods for each applicant.
- W-2 Forms for the previous two years.
- Two most recent years’ federal tax returns (e.g. for a loan in 2015, the customer need to submit the customer’s 2014 and 2013 federal tax returns). All the pages and all schedules.
- If the customer is self-employed, the two most recent years’ business tax returns are also needed.
- For self–employed or investment income, the two most recent years’ 1099’s and K-1 forms are also needed
- For self–employed business income,year-to-date profit and loss statement and balance sheet.
- For retired customers, copy of Social Security and/or Pension “award letters” detailing the amount of retirement income.
- Two most recent months’ bank statements. All of the pages.
- Homeowner’s Insurance statement(s) for all properties owned showing the customer’s coverage and the annual premium.
- Mortgage statements for all properties owned that have liens.
- Copy of driver’s license or State I.D.card for all customers.
- If divorced, the customer’s fully executed divorce decree.
For residents of Texas, if you’re currently in the market for a new home, odds are, you’ve stumbled upon a good amount of mortgage bankers. One of which that I would gladly recommend is Texas Trust Credit Union and their respective mortgage loans. From easy online applications, no mountain of paperwork and essentially saving your time and money with absolute transparency, Texas Trust is a reliable Mortgage lender with a versatile suite of mortgage types suitable to your financial needs. Also, be sure to check out our Best Mortgage Rates!
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