Find Home Equity Loan Specialists Near You in Rockwall, TX
Compare home equity loan specialists in Rockwall. Review contact information and insurance categorys before you decide.
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State Mortgage Licensing Authority of Texas before hiring.
Showing 8 home equity loan specialists in Rockwall, TX
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A home equity loan specialist in Rockwall, Texas helps homeowners access the equity in their property through a loan. Under Texas law, home equity loans are subject to specific rules, including a maximum loan-to-value ratio of 80 percent and a 12-day waiting period after application. These specialists guide clients through the process, ensuring compliance with state regulations and local market conditions.
What Does a Home Equity Loan Specialist in Rockwall Cost?
Typical costs for a home equity loan specialist in Texas include origination fees of 0.5 to 1.5 percent of the loan amount, appraisal fees of $400 to $800, and title insurance fees of $1,000 to $2,000. Closing costs generally range from 2 to 5 percent of the loan value. These amounts vary based on the lender and property. This is general information, not mortgage or financial advice.
* Cost estimates are general ranges based on publicly available data and compiled using automated research tools. Actual fees vary by agent and case complexity. This is not mortgage or financial advice — consult directly with an agent for fee specifics.
Frequently Asked Questions
What is a home equity loan specialist in Rockwall?
A home equity loan specialist is a professional who assists homeowners in obtaining a loan secured by their home equity. In Texas, they must follow strict laws, such as the Texas Constitution Section 50(a)(6), which limits fees and requires a 12-day rescission period.
How much equity can I borrow in Texas?
In Texas, you can borrow up to 80 percent of your homes appraised value, minus any outstanding mortgage balance. This limit is set by state law and applies to all home equity loans.