SEPTEMBER 2022

3 New Home-Buying Options!

Texas Trust Credit Union now offers three new unique home-buying options. Homebuyers financing through Texas Trust can now choose to finance up to as much as 105% of their home or choose a 40-year mortgage instead of the traditional 30-year mortgage offered by most lenders.

It’s no secret that the past decade has been a seller’s market. Since rebuilding from the 2008 crash, record low interest rates and high demand have driven housing costs up in sellers’ favor. In 2020, we saw that demand increase to unprecedented levels. The post-2020 years have been especially difficult for first-time homebuyers looking to purchase a place to call home. In response to this growing need for affordable housing, the mortgage team at Texas Trust put their heads together to offer financial solutions to help families get into homes.

3 Loan Options to Benefit Homebuyers 

Texas Trust Credit Union now offers three new unique home-buying options designed to lend homebuyers, in every situation, a helping hand. 

105% Financing

Homebuyers financing through Texas Trust can now choose to finance up to as much as 105% of their home. This option is extremely helpful for homebuyers who have the money to pay for their home but don’t want to pay the tens of thousands of dollars in closing costs. 

40-Year Mortgage

The new 40-year mortgage option with Texas Trust allows new homeowners to reduce their monthly mortgage payments by extending their loan terms beyond a customary 30-year term. 

30-Year Mortgage

Homebuyers looking for traditional financing get the added benefit of working with credit union mortgage loan officers who put members first and work with their needs to find the best options and rates as they search for their home.

Wait! There’s More!

Homeowners will even have the opportunity to modify their loan terms three to four years after closing in order to take advantage of lower interest rates or earned equity in their home. Being able to modify interest rates or repayment terms allows homeowners to potentially lower their mortgage payment without having to incur the additional closing costs and extensive paperwork involved in refinancing. This program really is a win-win for homeowners!

Along with these new home loan options, Texas Trust also offers cash-out refinances to benefit current homeowners looking to take advantage of their increased equity due to recently rising housing costs. Whether a homeowner or homebuyer, Texas Trust works hard to help build brighter financial futures. If you’re looking to take advantage of these options, you can check the Texas Trust website or get in touch with a mortgage loan officer that can assist in determining the best home loan option for you.