Texas Trust Home Loans Mortgage Review 2021

Written by
David McMillin
Edited By

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At a glance

Visit Texas Trust Home Loans website

NMLS: 277676

State License: 277676

4.6

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Bankrate Score

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Loans offered

Conventional, jumbo, FHA, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing; home equity loan; investment property
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Nationwide availability

Available in Colorado, Florida, Texas, Virginia and Washington
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Min. credit score required

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

Pros and cons

Pros

  • Currently does not charge lender fees
  • Closes in an average of 25 days
  • Rates and closing cost estimates published online

Cons

  • No VA or USDA loans
  • Only available in five states
  • Charges “worst-case pricing” and a higher interest rate if you want to change loan programs after locking your rate

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.

Good for

Borrowers who want to avoid fees and close quickly

Loan types 

  • Conventional
  • Jumbo
  • FHA
  • Fixed-rate
  • Adjustable-rate
  • Rate-and-term and cash-out refinancing
  • Home equity loan
  • Investment property

Lender fees 

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. 

Rates 

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.

Reputation

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.

Online services 

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

Review methodology 

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.

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Texas Trust Home Loans consumer reviews

5.0

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574 reviews

5 stars
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571
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Customer service rating

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0

100% of reviews would recommend this lender

3 of 3 rates honored

Review this lender

Write a review of your experience with Texas Trust Home Loans.

3 of 3 reviews

The consumer 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.

To help serve you with relevant information the consumer reviews shown below are limited to only those that this advertiser has received during the past 12 months.

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From initial inquiry to close in 31 days

Petar | Katy, TX | 3/16/2021

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Great experience

Great lender | Pearland, TX | 7/16/2021

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Got the Job Done

Judson S | Texas | 6/7/2021

Written by
David McMillin
Contributing writer
David McMillin writes about credit cards, mortgages, banking, taxes and travel. David's goal is to help readers figure out how to save more and stress less.
Edited by
Mortgage editor