Texas Trust Home Loans Mortgage Review 2020

By Diane Costagliola

About our reviews

Bankrate’s editorial team researches, reviews and rates lenders to help you find one that fits your needs. Our experts consider a range of factors, including rates, loan types, time to close, fees and more. Reviews are updated regularly. Bankrate is an independent, advertising-supported comparison service. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy.

Texas Trust Home Loans

Bankrate Score

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4.0

User reviews
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( 571 )

5.0

Please note: In response to the coronavirus pandemic, lenders are changing their requirements continuously. Although we strive for accuracy at the time of publication, please be sure to check with the lender for updated details on down payments, credit scores, etc.

Based in Dallas, Trust Home Loans is an online mortgage lender affiliated with American Heritage Capital. It offers conventional, jumbo and FHA loans as well as refinancing options. To get started, borrowers complete a short online form and are able to review real-time mortgage rates without having to create an account or share personal contact information. To view products and rates, borrowers answer a few questions about property location, down payment amount and credit score. The application process should take between 15 and 30 minutes. There are no application fees, but if a borrower decides to go with another lender after locking in their mortgage rate, they may be charged a cancellation fee. Borrowers work with a single loan officer, but Texas Trust Home Loans employs a team-based approach which ensures that customers are always able to connect with someone. Borrowers usually close within 24 days for a home purchase and within 27 days for a refinance. According to Nash Prasal, CEO of Texas Trust Home Loans, borrowers are able to see “virtually everything” on the website and review rates that are 100-percent accurate at the time of inquiry. The online lender also prides itself on having a transparent process so that borrowers are never surprised by hidden or additional fees.

Nationwide availability

Available in California, Colorado, Florida, New Jersey, Texas, Virginia and Washington

Minimum credit score

620 for conventional loans; 700 for jumbo loans; 580 for FHA loans

Loan types

Conventional, jumbo, first-time buyers, fixed, adjustable (ARM) and FHA; refinancing options include fixed-rate, cash-out and home equity loan

Pros

  • Streamlined online experience allows borrowers to get accurate, real-time rates within seconds without having to create an account or give personal contact information
  • Float-down option allows borrowers to secure a lower rate at closing if the new published rate is at least 0.375 percent lower than the locked rate; applies only to fixed-rate mortgages less than $510,400
  • No application or hidden fees
  • Can lock mortgage rate for free for up to 45 days

Cons

  • Borrower may be charged cancellation fee equal to 1 percent of the loan amount if they do not apply in good faith
  • Available in a small number of states

Find your mortgage match

Get paired with your best mortgage offers in 2 minutes or less.

Texas Trust Home Loans overview

Loan types

  • Conventional
  • Jumbo
  • First-time buyers
  • Fixed
  • Adjustable (ARM)
  • FHA
  • Refinancing including fixed-rate, cash-out and home equity loan

Lender fees

Texas Trust Home Loans charges no upfront, application or origination fees. Borrowers are responsible for paying the non-refundable appraisal fee and credit report fee. This amount can range from $25 to $1,200 and depends on location, size and condition of property. Most borrowers pay $490 for the appraisal deposit. Not all transactions, however, require an appraisal. Borrowers must supply a credit card to cover the appraisal report deposit and the full fee will be charged after the appraisal is ordered.

Lock-in rate periods are 30 or 45 days and secure both the mortgage rate and closing fee amount. There is no fee to lock your rate.

If a borrower gets a rate lock with Texas Trust Home Loans, but closes a loan with another lender within 120 days of cancelling the loan with Texas Trust, they may face a cancellation fee. This fee is 1 percent of the loan amount; it does not apply if a loan is denied or if the purchase contract falls through.

Minimum borrower requirements

Following Fannie Mae and Freddie Mac guidelines, borrowers must have a credit score of at least 620 for a conventional loan and must have at least 3 percent available for a down payment. Borrowers must have a maximum debt-to-income ratio (DTI) of 49.99 percent for a conventional loan and a maximum DTI of 43 percent for a jumbo loan.

Get started with Texas Trust Home Loans

Borrowers can apply online.

Hours

Monday - Friday: 8 a.m. - 7 p.m. CST

Texas Trust Home Loans consumer rating and reviews

5.0 reviews
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100% recommended

Customer Service Rating

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
0 out of 0 rates honored
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(571 reviews)
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The reviews posted on Bankrate.com ("Bankrate") are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews.

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Showing 10 of 21 Reviews
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CT
Beaumont, TX

7/14/2019

Terrific experience

I found Texas Trust online. I contacted them. Tanner was my contact person there. He was very helpful, informative and responsive. He matched the deal I got from another lender besides giving a gift card that they offered at that time. The entire closing process was very smooth. I highly recommend w...

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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Fred
Texas

7/24/2019

Best refinance experience ever.

When I began my cashout refinance search I latched onto the first company that contacted me. They turned out to be dishonest and I quit them half-way through the process. Then I contacted Texas Trust and Tanner Holland was my point of contact. He is a courteous, polite expert and he guided me throug...

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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Simon
Dallas

8/7/2019

Efficient

Process was quite efficient, much easier it seemed than other times I've got a mortgage. Tanner Holland was very responsive and helpful.

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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Mike H
HOUSTON

8/7/2019

Quick and Easy

From the pre-approval letters through the final sale, it was easy working with Tanner and his team. Their document management tool was easy to use and helpful.

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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NISCHAY
Austin, TX

8/8/2019

Excellent service & competitive rates

We worked with Tanner for both our first home purchase and refinance and highly recommend Texas Trust any mortgage needs.

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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Moises
Texas

8/27/2019

Awesome experience!

The entire process was smooth and I glad I contacted them. Great service!!

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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Robert E.
San Antonio TX

8/29/2019

Amazing staff

The process was quick and easy. Aliya Prasla was awesome to work with. She kept us informed, answered our questions in a timely professional manner and ensured 100% satisfaction through the entire process. I highly recommend this team and organization.

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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Cory M
EULESS

9/5/2019

Great Experience

Sal Prasla provided a great all around experience from start to the final day of closing. Rates and fees were the best i found. Highly recommend Texas Trust and Sal Prasla. I will recommend to all friends and family.

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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Yang L
Dallas

9/11/2019

Highly recommend

Just finished the refinancing with Texas Trust loans and had wonderful experience. Tanner Holland was very helpful and professional through the whole process. Highly recommend!

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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Jandi McCrory
Royse City, TX

9/20/2019

Great Experience!

We recently refinanced our home through Texas Trust and had such a great experience! To be honest, I’d been putting off refinancing for a while because I was dreading the whole process but Tanner and the rest of the team there made this pretty painless! Great rate, great communication, and quick c...

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes