Add the first-time buyers' federal $7,500 tax credit, increased access to FHA mortgages, motivated sellers, and bank-approved short sales, and you have the potential for rapid real estate recovery.
Refinancing in Texas Is Doable
Almost 7.5 percent of all residential units in the country are in Texas--real estate is a huge industry there and is still strong. While the country as a whole has experienced a major slowdown in property sales, Texas real estate agents brush off their state's price bobbles as a mere "hiccup." Those in the most affordable areas will find plenty of Texas mortgage companies offering FHA and community home buyer programs to eligible borrowers. These programs also facilitate refinancing from adjustable to fixed rate mortgages for those who qualify.
Texas: Stable and Sane
According to Forbes.com's analysis entitled America's Most Stable Housing Markets, two Texas metropolitan areas stand out for their affordability and high job growth. Dallas and San Antonio made the list because, while they didn't experience the breath-taking real estate appreciation of a couple of years ago, they avoided the subsequent free-fall in prices as well. So those who bought in these cities are most likely right-side-up in their homes with equity intact and a market unencumbered by the foreclosure epidemic. Sometimes boring can be beautiful when buying a home.
Before you buy a new house in Texas or refinance your existing home to a lower rate, it is advisable to compare the current mortgage rates offered by leading lenders in Texas. We've done extensive research to find top-rated lenders with competitive rates in Texas and last updated these rates on . It is easy to compare the different interest rates and terms offered by local lenders in Texas and you can contact any of the lenders by simply clicking on the "Go" button below the lender's logo.