Couple and dog in home with moving boxes.

Mortgage





Mortgage Lender in Houston, Texas

Experienced mortgage professionals to guide you through every step

Are you on the search for a reputable mortgage lender in Houston? Ready to hold the competitive advantage in today’s housing market? It’s time to start with Houston’s #1 Credit Union, Texas Bay. Our experienced team understands how important of an investment buying a home can be, and whether you are a first-time home buyer or looking to refinance, they are here to be your partner throughout the entire process.


NEW!!! Mortgage Rate Quick Quote

For a quick rate quote, text 832.694.1284 with the below information2. During business hours, a loan officer will respond within the hour. Outside of business hours, a loan officer will respond the morning of the next business day.

Choose one option from each of the following categories:

  • Occupancy: Primary, Secondary, Investment
  • Purpose: Purchase, Refinance, Home Equity
  • Property Type: Single Family Home, Condo, Townhome, Land
  • Length of Loan: 10 years, 15 years, 20 years, 30 years
  • Approximate Down Payment %
  • Approximate Credit Score
Your text to us should look something like this: "Primary, Purchase, Single Family Home, 30 years, 10%, 700"


Get in Your Home Faster with Quick Close!

With a Quick Close Mortgage from Texas Bay, you can close on your home in only 15 business days*! We'll walk you through the process.

How to Qualify for a Quick Close Mortgage:

  • Primary residence only
  • Single family properties only
  • 740+ credit score
  • Debt-to-Income Ratio not to exceed 35%
  • Other criteria may apply.


Become a Texas Bay Knockout Buyer!

Let our team arm you with the tools to keep your rate low in this rising rate environment and compete in this competitive housing market!

As a Texas Bay Knockout Buyer you will enter the housing market with a pre-approval that has a 60-day rate lock!

  • Keeps the red tape and complexity of a mortgage to a minimum
  • With the rising rates have peace of mind knowing your rate is locked in

Buying Your First Home?

With our First Time Home Buyers Program, you put down as little as 3% versus the normal 20% requirement1. That's right! We'll finance up to 97% of the purchase price of your new home. Let us walk you through every step of your first purchase and make the mortgage process as stress-free as possible.

We've Got the Mortgage to Fit Your Needs
Buying a Home Refinancing Your Home
  • Conventional Loans - Fixed Rate Mortgage 
    • Interest rate will not change for the life of your loan
    • Protecting you from the possibility of rising interest rates
    • Great for first time and seasoned buyers
    • 60 Day Rate Lock
    • Terms (10, 15, 20, or 30-Years)
    • Best for: Members that plan to occupy the property for extended period of time
  • FHA - Fixed Rate Mortgage
    • Credit score requirements are lower compared to other loan options
    • Lower down payment requirement (3.5%)
    • Great options for buyers with credit challenges
    • Insured by Government
    • Terms (10, 15, 20, or 30-Years)
    • Best for: First-time home buyers
  • VA Loan - Fixed Rate Mortgage
    • Great option with no down payment required
    • Government-guaranteed mortgages
    • Highly competitive interest rates
    • Best for: Veteran, currently enlisted, National Guard, Reservist, Surviving Spouse's
  • Land Purchase - Fixed Rate 
    • Residential Lot Loan
    • Unimproved Land Loan
    • Terms (10 and 15-Years)
  • Mortgage Refinance - Fixed Rate Mortgage
    • Great for cutting years off your mortgage term
    • Lowering payments for affordability
    • Terms (10, 15, 20, or 30-Years)
  • Cash-Out Refinance - Fixed Rate Mortgage
    • Take equity out of your home
    • Eligible Properties: Primary, Secondary, and Investment 
    • You can use the equity to consolidate debt, do home improvement, cover repair bills, or even pay off student debt
    • Terms (10, 15, 20, or 30-Years)

Meet our Mortgage Loan Officers

Additional Perks with Texas Bay in Your Corner

Get started on finding your dream home with a team that’s ready to help you
First-Time Buyer Seminars
Ready for your dream home? Get tips and guidance on the home buying process.
Looking for home insurance? Texas Bay Insurance Group has you covered. Find coverage for your home today!              

With a Texas Bay Mortgage You Can Count On...

  • Competitive Rates
  • Fast Closings
  • Flexible Terms
  • Easy Online Application
  • Experience
  • In-house servicing
  • And MORE!!!
Applying online is as easy as 1-2-3.

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Annual Escrow Review


On an Annual Basis, Texas Bay Credit Union reviews your escrow account to ensure we have enough to
pay your upcoming taxes and/or insurance premiums.

Any differences between what we expected to pay out and what we actually paid out could impact
whether your escrow account has a shortage, deficiency or a surplus.

Shortage occurs when you do not have enough money in your escrow account to start off the year. The
system calculates how much we’re going to pay out this year while still making sure we don’t go below
the required minimum balance in the account. If you have a deficiency or shortage, it will automatically be spread out over the next 12 months, unless you bring the shortage/deficiency payment in before the deadline of February 25, 2023.

Deficiency means that your escrow account actually went negative after we paid all of the taxes and
insurance amounts for this year (March to March). If you have a deficiency, you will also have a
shortage. This will also be spread over the next 12 months and added your base escrow payment if not
paid before the deadline of February 25, 2023.

Surplus occurs when you have more than enough in your escrow account to start off the year. Any
applicable additional funds will be mailed to you in the form of a check in March.

What is the last day to bring in my funds for the deficiency and/or shortage?
February 25, 2023.

Will my escrow payment amount change from year to year?
It is highly likely it will change. The escrow payment amount is made up of your taxes and insurances for
the whole year, divided by 12. So if the the taxes and/or insurance premiums change the escrow payment
amount will change.

For information purposes only. 

A mortgage, or a mortgage loan, is an agreement between you (the borrower) and a mortgage lender (Texas Bay Credit Union) to buy or refinance a home without having all the cash upfront. This agreement gives lenders the legal rights to repossess a property if you fail to meet the terms of your mortgage, most commonly by not repaying the money you borrowed plus interest. Mortgage loans are used to buy a home or borrow money against the value of a home you own. 

You can choose from many types of mortgages when purchasing a home. These loans are designed to appeal to a wide range of borrowers’ needs. Some mortgage loan options include:

  • Fixed-rate mortgage
  • Adjustable-rate mortgage
  • FHA mortgage
  • VA mortgage
  • Jumbo mortgage
  • Land purchase

The term “loan” can be used to describe any financial transaction where one party receives a lump sum and they agree to pay the money back.


A mortgage is a type of loan that is used to finance a property. A mortgage is a type of loan, but not all loans are mortgages.


Mortgages are secured loans. With a secured loan, the borrower promises collateral to the lender in the event they stop making payments. In a mortgage loan,  the property is the collateral. 

To apply for a mortgage with Texas Bay Credit Union you will need the following things:

  • proof of income and/or employment
  • assets and debts
  • credit history
  • Driver’s license or state-issued ID
  • Rental History
  • Other information like divorce, bankruptcy, gift funds
Click here to fill out your mortgage application

Yes Absolutely. Texas Bay Credit Union has highly experienced loan officers that can help self-employed borrowers qualify for a mortgage. 


To speak with a loan offer to get more information please click here to contact us.

No, an RV is not considered a mortgage. It is considered an auto loan. To see more information about Texas Bay Credit Union auto loans please click here.

The answer is sometimes, but not in all circumstances. For a refinance you are able to roll in your closing costs to the loan amount. For a home purchase, your mortgage loan does not cover closing costs. You will have to pay it out of pocket. Closing costs include the fees for the services and expenses required to finalize a mortgage.

Texas Bay Credit Union offers free online mortgage payment calculators for you to use!


If you have more questions about mortgage payments, contact us today.

Yes, property taxes are included in the mortgage. In Texas, property taxes are paid in advance for the full year either by the owner or through an escrow account with Texas Bay Credit Union. Who will pay depends on the sale’s closing date, the date taxes are due, and the sales agreement. 

It is the realtor or lawyer’s responsibility to check whether the property has any tax liens. When the sale closes, they will be able to calculate how much tax you and the seller owe.

A Texas Bay Credit Union’s mortgage refinance loan replaces your current mortgage loan. It can simply be a loan in the same amount as your existing mortgage or you can take out some, or all, of the equity in your home in a cash-out refinance.
There are several reasons to refinance your mortgage. You can pay off your existing mortgage to improve the terms of the loan, such as lowering the interest rate, lowering the monthly payment, or reducing the term of the loan to pay off the home early. You can also cash out your home equity in order to renovate your home, pay for larger purchases, or pay off your higher-interest loans and credit cards.

Texas Bay has a number of great mortgage options that could help you save money by refinancing. With a number of fixed rate terms ranging from 10-30 years, you can potentially cut years off your mortgage which will save you interest in the long run. Texas Bay also offers a number of terrific home equity products that can help you pull money out of your home to consolidate debt, renovate your home, or go on a vacation.

There are a number of loan costs and fees that go into refinancing a mortgage such as a credit report fee, flood certificate fee, and various title company fees. Luckily, in most situations, you can roll those closing costs into the loan amount where your only out-of-pocket cost could be the appraisal fee. Texas Bay loan officers are highly trained in structuring your refinance to help you get the mortgage that benefits you the most. 

















Ready to work with one of our Mortgage Team Members?

Our team of mortgage professionals are here to help answer questions and assist you in moving into the home of your dreams.

Contact us today


 NMLS #280545
 
 
Disclosures:
*The 15 business-day closing timeline only applies to purchase transactions and is not applicable to Land Loans, Home Equity Loans, Reverse Mortgages, Brokered loan transactions, FHA, VA, USDA, Mortgage Bond Programs, Down Payment Assistance loans, MCC, Non-delegated loan programs, Bank-owned properties, Short Sale transactions, condominiums/townhomes, Non-Conforming and Non-QM loans, Jumbo loans, and Investment and Secondary properties. Additionally, the 15 business-day closing timeline may be affected by events beyond the control of TBCU, such as appraised value, escrow or title delays, short sale approval, or lender conditions that cannot be met by any party. The trigger for the 15 business-day timeline starts when the borrower has provided a complete loan file (including income and assets documentation) and has authorized credit card payment for the appraisal. Borrowers must not be self-employed and must have a credit score of 740 or higher, with a Debt-To-Income Ratio not exceeding 35%. TBCU reserves the right to amend or terminate the 15 business-day closing offer at any time, with or without notice, and it cannot be combined with other offers or discounts. Eligible properties for the 15-business-day closing are limited to primary residences and single-family properties.
1Restrictions apply
2 By entering your information and texting Texas Bay Credit Union (TBCU), you agree that TBCU may call, text or email you regarding this inquiry. You do not need to consent as a condition of buying any property, goods or services. Messaging and data rates may apply. Interest rates change on a daily basis. A Quick Rate Quote does not constitute a secured interest rate and does not indicate eligibility for the mortgage loan. Speak with a loan officer about how to lock in your quoted interest rate and how to be fully qualified for a mortgage.