Mortgage Lender Austin TX

Looking for a convention mortgage? Need a construction loan or refinancing? Call our mortgage loan specialists today! 512-331-8386

Conventional and Adjustable Rate Mortgages

At Legend Lending we offer a variety of mortgage options including traditional mortgages and adjustable rate mortgages.

A popular loan type, conventional fixed-rate loans feature a constant interest rate for the life of the life, meaning monthly payments remain constant. Traditionally, borrowers are expected to provide a 20 percent down payment though this is not necessarily required. Available terms range from 10 years, 15 years, 30 years and 40 years.

Adjustable rate mortgages are loans where the interest rate is recalculated on a yearly basis depending on market values. As interest rates are adjusted, so is the borrower's monthly payment. While interest rates on ARM loans are generally lower than fixed-rate mortgages, they can eventually become higher. Various types of ARM loans include Hybrid ARMs such as 10/1 year, 7/1 year, 5/1 year and 3/1 year programs.

Not sure which is right for you? Contact one of our loan experts today at 512-331-8386 to discuss your needs, down payment options, and budget to determine which home loan is right for you.

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Mortgage Refinancing

Are you looking to decrease the interest rate on your current mortgage? Do you want your monthly mortgage payments to be more affordable? At Legend Lending we offer a variety of mortgage options for homeowners looking to refinance their current mortgages. We offer 10, 20, 25, and 30-year mortgages, and we have interest rates that will agree with your monthly budget. Contact us today to learn more or apply online. It's fast and easy!

Federally Insured Mortgage Loans

Are you a military veteran or first time home buyer? If so chances are you qualify for a VA loan or FHA loan. These types of loans are insured by the federal government, offer low down payments and very affordable interest rates. Don't give up your dream of homeownership, see if you qualify today! Call us at 512-331-8386.

Specialty & Non-Conforming Mortgage Loans

At Legend Lending we offer mortgages that fit outside the realm of traditional mortgages or loans including jumbo loans for higher loan amounts and construction loans that can be used to finance the construction of a new structure or home. Each of our loan programs is unique and can be custom tailored to suit your needs with variable or fixed rates, different loan terms, and more! Call us today at 512-331-8386 to learn more!

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Home Equity Loans

Could you use some extra cash to pay off bills, buy a new car or pay medical expenses? If you own your own home, a home equity loan may be the right solution for you. Home equity loans allow a borrower to acquire a new loan on an already mortgaged property using the equity they've built over time as collateral. Home equity loans are typically used to pay down medical or consumer debt, start a business or pay tuition. Contact us today to learn if you qualify or to apply online now!

Reverse Mortgages

Reverse Mortgages, otherwise known as Home Equity Conversion Mortgages HECMs, are a special home equity loan for homeowners of 62 years of age or older. These loans allow borrowers to borrow against the equity that they have built up over years of paying down the mortgage on their home to supplement their retirement income.

As with any mortgage transaction, there are fees and closing cost involved, and there is interest added to the loan balance each month. The funds may be disbursed via a lump sum single disbursement, in monthly payments, or as a line of credit. Borrowers do not have to pay back the loan while themselves or an eligible spouse live in the home; however, the borrower must continue to pay taxes, insurance, utilities and to maintain the house to continue to occupy the home.

The loan becomes due in full at the time the last borrower, co-borrower, or eligible spouse either passes away, sells the home, or moves out. The borrower's estate or heirs may pay off the reverse mortgage through the sale of the house or retain the home via a refinance.

Reverse mortgages are not a risk-free loan and should be considered carefully. If you think a reverse mortgage might be right for you, call us today to discuss your long-term goals and to learn more. 512-331-8386