TREC or Texas Real Estate Commission is a government body that was created in 1949 to administer four specific laws such as real estate license act, real estate inspector act, residential service company act and Texas timeshare act. TREC regulates activities of real estate brokers, salespeople, inspectors, residential service companies, timeshare developers and education providers for real estate and inspection courses. Main purpose of TREC is to protect legal rights of citizens of Texas and provide them with honest, trustworthy and competent real estate service. The commission reviews programs dealing with education providers for real estate and inspection courses. It tries to identify and regulate errors and drawbacks present in it.
TREC has made it mandatory for real estate brokers and salespersons to maintain specified levels of education in order to hold a valid license to work as a real estate agent. Provisions of real estate license act and rules of Texas real estate commission are binding on all real estate agents and professionals in order to provide customers with a competent and honest service. TREC also gives licenses to real estate inspectors, agents, residential service companies and real estate schools. This commission also does registration of timeshare properties.

Texas Real Estate Commission has statutory relations with three state entities namely, real estate center at Texas A&M University, Texas department of savings and mortgage lending and Texas appraiser licensing and certification board. The commission has partnership with Texas A&M University’s real estate center for conducting research along with some education projects. It also appoints two members to mortgage broker advisory committee of Department of savings and mortgage lending. Issues relating to real estate licensees and mortgage brokers are resolved by cooperating with this agency. Commission also has signed a memorandum of understanding with Texas appraiser licensing and certification board under which it provides administrative support to them, which is approved by their governing bodies.

Today, across the nation, many people are interested in Texas mortgage loans. This is because the state laws of Texas offer some more benefits to loan buyers than other state laws. There are more than 400 mortgage lending companies in Texas. They offer first mortgages, second mortgages and mortgage refinancing loans at low interest rates. Texas lenders offer different types of mortgage loans such as home equity, jumbo, super jumbo, hard money, commercial mortgages, apartments and multi family mortgages. These mortgage loans are available for all including good credit, slow credit, bad credit customers, and for first time home buyers, but the interest rates and rules can vary with the type of the loan and the credit rating of the customer.

The most popular of all Texas mortgage loans are Texas home equity loans, also known as Texas cash out loans. According to the state rules, you can only borrow 80% of the appraised value of your homestead property. The closing costs must not exceed 35% of the loan amount. All property owners must sign a 12 day letter, known as the “cooling off” period, before any Texas Home equity loan can close.

Most Texas mortgage loan lenders are city based. You can find them simply by searching the Internet. There are a number of Internet sites, both promotional and informative, that provide all information about these lenders and their mortgage loan plans. You can contact these companies through phone, email, or fax. Before applying for a loan, carefully go through the interest rates, fees, penalties, and rules and regulations regarding the loan. Filing of online applications for most Texas mortgage loans is free. There are a number of loan brokers in Texas, who can help you find suitable loans. These brokers also provide comparisons of current Texas mortgage loan rates and benefits.