As of January, 2000, all mortgage brokers working within the state of Texas must obtain a Mortgage Broker License. The Texas Savings and Loan Department regulates all brokers and issues all broker licenses. In order to qualify for a Texas mortgage license, applicants must pay all necessary fees. Additionally, all applicants must prove that they have at least 36 months of experience within the mortgage industry, or 18 months of experience within the industry coupled with a bachelor’s degree pertaining to real estate.
Unlike various other states, all brokers who hold a Texas Mortgage Broker License must also have a physical address within the state of Texas. Some consumers may qualify for various Texas programs including The Texas Home of Your Own Coalition program and the Texas First Time Buyer Program. To find out if you qualify for these programs, speak with a licensed mortgage broker. To gain the best possible mortgage rate, speak with a number of different brokers. Most brokers will offer free price quotes, and this will provide you with an opportunity to comparison shop. Prior to working with any mortgage broker, it is wise to view a copy of a broker’s license. At the time of this writing, all of the brokers listed below are legally licensed. |
