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Can I Refinance with Bad Credit?

Mortgage interest rates have tumbled in recent months, making refinancing more appealing than ever. As of the latest Mortgage Bankers Association survey, refinance request volume is up 180% over last year. There may be some homeowners who would like to take advantage of the interest rate savings but worry they may not qualify because of poor credit. If you are part of this crowd, here are several ways to make refinancing a reality: Learn Your Options Start with an open discussion with a lender. Let them know you do not have the best credit but that you would like to refinance. They have ...

October 9th, 2019 | Credit, Refinancing a Home, Can I Refinance with Bad Credit?

5 Things to Do After Your Mortgage Closes

After sitting down at the mortgage closing table to sign all the paperwork, you get the keys and can breathe a sigh of relief. But before you tuck all those mortgage papers away for good, there are at least 5 things you still need to do after closing to make sure everything is on track. 1. Figure Out the Start Date of the First Payment Your lender or title company should have let you know this important fact before or at closing, but with so many papers and numbers being thrown at you, it might get missed. Your escrow account often requires enough money from you at closing to cover ...

March 13th, 2019 | First-time Homebuyers, Purchasing a Home, Refinancing a Home, 5 Things to Do After Your Mortgage Closes

Should I Pay Off My Mortgage Before Retirement?

As you near retirement, you may be anxious to completely pay off your mortgage and be debt-free before your traditional income stops.  In most cases, this is the best plan but there are situations when holding on to your mortgage into retirement may make more sense. Why You Should Pay Off Your Mortgage Being debt-free as you start retirement can make the transition to a fixed-income much smoother. Those who do not have their mortgage paid off yet sometimes have to dip into their investments to make their payments. That can result in higher taxes and less reserves for retirees. An...

December 5th, 2018 | Reverse Mortgages, Refinancing a Home, Should I Pay Off My Mortgage Before Retirement?

Are Fixed Rate Mortgages or Adjustable Rate Mortgages better for me?

When you are in the market for a mortgage, one of the many decisions you’ll have to make is whether to apply for a fixed-rate loan or an adjustable rate mortgage (ARM). Both can be beneficial, depending on your situation. Learning the difference between them can ensure you get the right product for your financial goals. Fixed-Rate Mortgages Fixed-rate mortgages (FRMs) are just as their name suggests - loan with a fixed interest rate, a rate that never changes over the course of the mortgage. The obvious benefit of this type of loan is that your monthly payment, as well as your inte...

August 15th, 2018 | Purchasing a Home, Fixed Rate Mortgages, Adjustable Rate Mortgages, Refinancing a Home, Are Fixed Rate Mortgages or Adjustable Rate Mortgages better for me?

Lonestar Mortgage of Texas

20501 Katy Freeway, Suite 100G
Katy, Texas 77450
Phone: 281-492-9158
Fax: 281-946-5108
NMLS: 311730
We lend in the following states: Texas
Broker, NMLS #311730

Figure: 7 TAC §80.200(b) "CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550.

THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIALMORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV."