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Texas Home Loan Team
at Prospect Mortgage
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We do business in accordance with the Federal Housing Act and the Equal Credit Opportunity Act and do not discriminate on the basis of race, color, national origin, religion, sex, age, income, handicap or familial status.
Loan inquiries and applications in states where I am not licensed will be referred to a Loan Officer who is licensed in the property state. Equal Housing Lender. Prospect Mortgage is located at 15301 Ventura Blvd., Suite D300, Sherman Oaks, CA 91403. Prospect Mortgage, LLC (Unique Identifier #3296) is a Delaware limited liability company licensed by the Department of Corporations under the California Residential Mortgage Lending Act and operates with the following licenses: AK Mortgage Lender License #100251; AZ Mortgage Banker License #BK0903027, #BK0909362, #BK0908046, #BK0908050, #BK0908056, BK#0908057, #BK0908058, #BK0908731, BK#0903112, BK#0903912, BK#0906650, BK#0906913; To check the license status of your CO mortgage broker, visit www.dora.state.co.us/real-estate/index.htm; GA Residential Mortgage License #16984; IL Residential Mortgage Licensee #6424; MA Mortgage Lender/Broker License #MC2011; MS Licensed Mortgage Co.; MT Residential Mortgage Lender Licensee #120; NV Division of Mortgage Lending Mortgage Banker #1173 and Mortgage Broker #3095; Licensed by the NH Banking Dept.; Licensed Banker-NJ Dept. of Banking and Insurance #9932415; Operates as Prospect Lending, LLC in NY (Licensed Mortgage Banker-NYS Banking Department); Operates as Prospect Mortgage, LLC of Delaware in OH (Ohio Mortgage Broker Act, Lic # MB.803629.000); OR Mortgage Lender Licensee #ML-2006; PA Dept. of Banking license #1740; RI Licensed Lender #20021343LL, Broker #20041643LB; licensed by the VA State Corp. Commission as MC-2195. This is not an offer for extension of credit or a commitment to lend. All loans must satisfy company underwriting guidelines. Information and pricing are subject to change at any time and without notice. This is not an offer to enter into a rate lock agreement under MN law, or any other applicable law.
HomePath is a registered trademark of Fannie Mae.
Disclosure last updated March 30, 2010
Call Us Today! 817-328-1307
850 E State Hwy 114, Ste 100
Southlake, TX 76092
Texas Cash Out Home Loans
Texas Cash Out Home Loans are a great way to pull equity out to pay off debts, do home improvements, pay college tuition or just to get some extra cash.
The state of Texas regulates the cash out home loans. Texas regulates the maximum charge for closing cost and the maximum loan-to-value ratio. Contact our office today for more information.
The home loan is like a refinance of your existing loan,
Rates tend to be a little higher for Cash Out Home Loans compared to conventional home loans.
Texas Cash Out home loans can be either a 1st mortgage loan or a second mortgage loan.
Once a home loan becomes a cash out home loan, the loan will always be a cash out home loan. In order to refinance a Texas cash out loan, the new loan will be considered a cash out loan, whether or not you are getting addition cash from the loan proceeds.
Texas law also states that you cannot close on your cash out loan for 12 days following application of the loan. Texas also states that you can only do one cash out loan in a 12 month period and only have one cash out loan on the property.
Currently, our minimum loan amount for a 1st lien Texas Cash Out Home Loan is $75,000.
