What will the interest rate be?
Our interest rates are competitive, and in many cases less than those of other property tax lenders but considerably less expensive than paying the accrued interest rates and accumulated fees and penalties that your local county tax office charges on delinquent taxes.
What documentation will I need?
Homeowners need:
•Social Security number
•Driver's license number
•Mortgage company name and loan number
•Property insurance company name
•Income verification (current paycheck stub)
Commercial property owners need:
•Entity and Authority documents, e.g., Articles of incorporation/partnership agreement, etc.
•Mortgage and Insurance company names
How can I apply for a loan?
There are four fast, easy ways to apply:
1.You can apply online by clicking [APPLY NOW]
2.You can download the [application form online] and fax the completed form to us at 210-829-0715
3.You can apply by phone at 210-829-0600 anytime day or night or
4.You can apply in person in our office or call and we will meet you
How long will it take to pay my taxes?
Within 10 business days after the loan is finalized, in some counties 24-48 hours.
What if a payment is late or I miss a payment?
Your payment due date will be set in your loan contract and like any loan agreement your timely payment is expected and appreciated. If you are going to be late for any reason, you should notify AHF so we can try to work with you to resolve your issue and minimize any additional fees charged to your account. Your communication is key to maintain our relationship.
If I default on my loan is foreclosure a possibility?
Alamo Home Finance is here to help and will pay all of your property taxes, interest and penalties and tailor a loan just for you, but we do expect to be paid back. If you do fall behind in your payments and your loan becomes delinquent, under the laws outlined in the Texas Civil Code, a state governed foreclosure process can be initiated. Our records show that this is a last resort that is usually avoided and it has our policy to work with our clients to provide options if something happened to allow them to catch up on their payments and bring the loan in good standing.
Would it be better to use a credit card to pay my taxes?
While Texas law provides a limit on interest rates on credit cards, this only applies if the bank issuing the card is chartered in Texas and most credit card companies today are based in states that do not impose limits. Most cards charge higher interest rates for cash advances and often an additional fee – or you will have to pay a “convenience fee” usually from 3 to 5% upfront if you simply charge your property taxes. While your current or promotional interest rate may be lower now, you are at the mercy of the credit card company who often without notice can raise your interest rate up to 29% and even as high as 33% in some cases.
How long is the term of the loan?
We try to customize every loan to fit your needs, but in most cases to keep the monthly payments affordable, most of our loans spread payments over 60 months.
How much are the closing costs?
All closing costs associated with your loan are included in the total amount financed so there are no out of pocket closing costs.
If I continue to wait, what are the tax penalties charged by taxing authorities?
Accounts not paid in full by June 30th of the year in which they became delinquent will be referred to the delinquent tax attorney for enforced collection, and will incur additional penalty of 15-20% of the total taxes, penalties, and interest due
Will I be approved if I have credit problems?
In most cases YES! We understand that these are difficult times and are able to help the majority our applicants even those that have declared bankruptcy in the past. There are few exceptions we cannot work around such as a current federal tax lien and or if you are currently in bankruptcy.
Will I qualify?
Yes, Assuming:
You are currently not in bankruptcy The property is in Texas There are no IRS liens on the property Ownership can be verified through AHF The property is in good or reasonable condition You can verify your income Who can apply for a loan with Alamo Home Finance?
Homeowners, commercial property owners, investment property owners, land owners and families with back taxes on inherited properties can come to AHF for pay their property tax loans.
In many cases, we work with businesses that may have the money saved to pay their taxes, but would rather have the working capital to re-invest in their business – and that is where Alamo Home Finance is able to help by tailoring a loan that pays their taxes and allows them to use the freed capital to grow their business or pay off other higher interest debt.
