Straight answers to Texas mortgage questions
Written by Brad Robbins and Buddy Michna, licensed branch managers at Top Notch Mortgage. No jargon, no sales pitch. Just how it works.
Investors
What Is a DSCR Loan?
A DSCR (debt service coverage ratio) loan is an investment-property mortgage that qualifies on the rent the property earns instead of your personal…
Read the answer →InvestorsHow to Calculate DSCR for a Rental Property
DSCR equals the monthly rent divided by the monthly PITIA payment (principal, interest, property taxes, insurance and HOA). For example, $2,400 in…
Read the answer →Cash-Out & Equity
Texas Cash-Out Refinance Rules, Explained
In Texas, borrowing against the equity in your homestead is governed by Section 50(a)(6) of the Texas Constitution. All loans on the home combined…
Read the answer →Cash-Out & EquityCash-Out Refinance vs. Second Mortgage: Which Fits You?
If your current first-mortgage rate is lower than today's rates, a fixed-rate second mortgage usually makes more sense because it leaves your low…
Read the answer →Buying a Home
USDA Loans Near Austin: Where They Work and Who Qualifies
USDA home loans help low- and moderate-income buyers purchase a primary home in eligible rural areas, often with little cash needed upfront.…
Read the answer →Buying a HomeHow to Choose a Mortgage Lender in Austin & Central Texas
Choose a lender who explains every option in plain English, is reachable when you need them, and understands Texas-specific rules like homestead…
Read the answer →Land & Construction
How Construction Loans Work in Texas
A construction loan is short-term financing that pays your builder in stages, called draws, as the home is built. When the home is finished, the…
Read the answer →Land & ConstructionHow to Finance Land in Central Texas
Most buyers finance a homesite with a lot loan. On our Top Notch Build™ program, lot financing goes up to 75% of the purchase, with interest-only or…
Read the answer →Self-Employed
Credit
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