The Best Mortgage Lenders in Texico, NM
Compare verified mortgage lenders serving Texico, New Mexico. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Texico
Featured Mortgage Lenders
Roosevelt County Community Federal Credit Union
Roosevelt County Community Federal Credit Union
As the premier local credit union serving Roosevelt County and the surrounding region including Texico, RCCFCU has built an exceptional reputation for personalized mortgage services. With nearly seven decades of community banking experience, they offer competitive rates and flexible loan terms tailored to local needs. Their mortgage specialists provide one-on-one guidance through the entire home buying process, with particular expertise in USDA rural development loans that benefit Texico area residents. The credit union's strong local presence and member-focused approach make them a top choice for personalized mortgage solutions.
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Southwest Capital Bank
Southwest Capital Bank
Southwest Capital Bank has been a trusted regional mortgage lender serving Eastern New Mexico communities including Texico for over three decades. Their experienced loan officers specialize in both purchase and refinance mortgages with competitive local rates. The bank is particularly known for its construction lending expertise and flexible underwriting for rural properties. With deep roots in the Portales area just 8 miles from Texico, they understand the unique real estate market dynamics of the region and provide responsive, local decision-making that national lenders cannot match.
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Legacy Mortgage
Legacy Mortgage
Legacy Mortgage has established itself as one of Eastern New Mexico's most respected mortgage brokers, serving the Clovis area including Texico residents. With over two decades of experience, they offer access to multiple lending sources and competitive rate options. Their team specializes in navigating complex loan scenarios and provides exceptional customer service throughout the mortgage process. Particularly strong in VA and USDA rural housing loans, Legacy Mortgage has helped numerous Texico area families achieve homeownership with their personalized approach and local market expertise from their Clovis location just 15 miles away.
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Frequently Asked Questions
Common questions about mortgage lending in Texico, NM
Are there any special mortgage programs for first-time homebuyers in Texico, NM?
Yes, the New Mexico Mortgage Finance Authority (MFA) offers several programs ideal for Texico residents, including the FirstHome program with below-market interest rates and down payment assistance. These programs are particularly valuable in Texico's affordable market, helping buyers overcome initial cash barriers. It's recommended to work with a local lender approved by MFA to access these benefits.
How do property taxes in Curry County and Texico, NM, affect my monthly mortgage payment?
Curry County has relatively moderate property tax rates compared to national averages, which helps keep your total monthly payment affordable. Your lender will estimate these taxes for your escrow account based on the assessed value of the specific property. It's wise to confirm the exact tax amount with the Curry County Assessor's office, as rates can vary slightly.
What is the typical down payment needed for a home in Texico's real estate market?
Given Texico's median home prices are below state and national averages, down payments can be more manageable. While conventional loans often require 5-20%, many local buyers utilize FHA loans with a 3.5% minimum down payment or the MFA's FirstHome program with as little as 1% down. Your required amount will depend heavily on the loan program you qualify for.
Are USDA rural development home loans available for properties in Texico, NM?
Yes, Texico is eligible for USDA Section 502 Guaranteed Loans, which offer 100% financing (no down payment) for qualified buyers and properties. This is a significant advantage for the area, as it is designated rural by the USDA. To use this program, the home must meet certain criteria, and the borrower's income must not exceed the limit for Curry County.
How does living near the Texas border impact the mortgage process or lender choice in Texico?
While you can technically use a lender licensed in either New Mexico or Texas, it's highly advantageous to choose one familiar with New Mexico-specific programs and Curry County's appraisal process. Local New Mexico lenders will have expertise with MFA programs and understand the nuances of the Texico market, ensuring a smoother transaction than an out-of-state lender might provide.
Why Choose a Mortgage Lender in Texico?
Local Market Knowledge
Lenders who understand Texico's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in New Mexico.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Texico and get competitive rates on your home loan.