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Texas Real Estate Loans

Which loan?
How do I know which type of loan is best for me?

Choosing the right loan for you should be based on your financial goals, income, and expenses.

You should as yourself "Why do I need a loan?" and "How much can I afford to pay each month?".

Some people need the low initial monthly payment of an adjustable-rate mortgage, or "ARM," so that they can get more house for their money. Others like the stability of a fixed-rate loan.

How important is your credit report?

It's important. You can't get a loan unless you can show the lender sufficient ability to pay it back. One factor is your desire to pay back the loan. If you have bad credit it shows the lender that you were not able to pay back a loan on time.

It is a good idea to check your credit score several months before you apply for your loan. If you don't have good credit you should start working on it right away.

You don't have to have perfect credit to obtain a mortgage loan, but if you have a number of late payments you will need to provide a letter explaining why those payments were late.

If a lender can justify making a loan to you, then they will make the loan.