TexAmerica™
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Contact UsContact Us| 1. | Is TexAmerica a lender or a loan service provider?
Answer: Both. TexAmerica™ makes mortgage loans and we also service mortgage loans for other lenders. |
| 2. | Will I be charged a pre-payment penalty if I pay off my mortgage early?
Answer: No. |
| 3. | Is my mortgage assumable?
Answer: Yes. At the seller's expense, TexAmerica™ will conduct an inspection of all major systems (roof, foundation, structure, electrical, plumbing, and AC). If everything meets with our approval, the buyer will need to complete an assumption form. Note: TexAmerica™ will not run a credit check on the buyer since the buyer is not required to qualify for the assumption. |
| 4. | Will the interest rate on my mortgage loan be fixed or adjustable?
Answer: Fixed. TexAmerica™ does not make adjustable rate mortgages. |
| 5. | Does TexAmerica™ make second mortgage loans?
Answer: Yes. We will also work with your first mortgage lender to have them or us service both loans so you only need to make one mortgage payment instead of two. |
| 6. | Can I get a temporary reduction in payments?
Answer: Maybe. TexAmerica™ offers up to 2-years moratorium on payments provided you pay the interest in advance; however, the moratorium is not available on loans we service for other lenders, instead, it only applies to TexAmerica™ loans. |
| 7. | How can I find out the balance on my loan?
Answer: Simply login to your account. With your 10-digit loan number and your password, you can access all your loan information online including recent payment history, loan balances, fees, and more. |
| 8. | Will I lose my house if I miss one payment?
Answer: No. TexAmerica™ will work with you to make up the back payment; however, repeated delinquency and/or owing two or more months back payments will put you in jeopardy of losing your home. Be proactive: Ignoring late or missed payments only makes the situation worse. If you lose your job or have other financial problems and can't make a mortgage payment on time, please contact us so that we may work toward a solution together. |
