Texas Trust Home Loans overview
Texas Trust Home Loans is an online mortgage lender affiliated with American Heritage Capital (AHC Lending). The company was founded in 2002, and Nash Prasla, CEO of Texas Trust Home Loans, believes one of the key distinctions about the company is the way it compensates loan officers: “[Our] loan officers are not paid industry standard, percentage commission based on the loan amount,” Prasla says. “Rather, Texas Trust loan officers are salaried professionals available to support borrowers [through the] loan application process.” For borrowers, preapprovals take one day, and the average closing time for new purchases is 25 days. Past customers have offered exceptional feedback on their experience, too: more than 570 five-star reviews on Bankrate.
Borrowers who want to avoid fees and close quickly
- Rate-and-term and cash-out refinancing
- Home equity loan
- Investment property
Texas Trust Home Loans does not charge origination fees or underwriting fees as of August 2021, but according to Prasla, “this policy may change in the future.” The only upfront payment you’ll need to pay is a non-refundable fee for an appraisal, which runs between $450 and $1,200.
Texas Trust Home Loans publicly lists mortgage rates online and updates them daily, as well as displays closing cost estimates. All of this information is available without needing to share your personal information.
The lender offers a wide range of rate options that include paying a higher rate in exchange for lower closing costs and vice versa. Some of the rates are significantly lower than Bankrate’s national averages (as of August 2021). After you complete a loan application, you can lock in your rate for 30 days or 45 days for no additional charge. There is also a rate float-down policy, which allows you to qualify for a lower interest rate if their new rates are at least 0.375 percent lower.
Be sure you know which type of loan program you want before locking your rate, though. If you decide to make changes, you’ll pay a penalty: an interest rate that is 0.125 percent higher.
American Heritage Capital, which does business as Texas Trust Home Loans, is not accredited by the Better Business Bureau. However, the company does have an A+ rating from the organization.
Texas Trust Home Loans rate comparison tool, which is based on your down payment, credit score and a few other details, is one of the most convenient tools Bankrate has seen in the home loan landscape — especially because you can do it without sharing your name and email address.
If you’re ready to move forward with a loan, the lender offers a streamlined digital experience, utilizing e-sign technology, electronic delivery of disclosures, electronic uploading of personal documentation and a portal that allows you to track the status of your application.
Minimum borrower requirements
You’ll need a minimum credit score of 620 to qualify for a mortgage through Texas Trust Home Loans and a debt-to-income (DTI) ratio of no higher than 50 percent. The lender does not consider alternative credit data, such as your rent payment history, in underwriting.
Refinancing with Texas Trust Home Loans
With Texas Trust Home Loans, you can refinance your current mortgage, take cash out (maximum loan-to-value, or LTV, ratio of 80 percent) or consolidate other debts. You can use the lender’s rate tool to compare different options with closing costs and lender credits.
Not sure if Texas Trust Home Loans is right for you? Consider these alternatives
Breakdown of Texas Trust Home Loans overall review score
- Affordability: 15/15
- Availability: 14/15
- Borrower experience: 8/10
To determine a mortgage lender’s Bankrate Score, Bankrate’s editorial team rates lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews. Here is our full methodology.