The Best Mortgage Lenders in Texhoma, OK
Compare verified mortgage lenders serving Texhoma, Oklahoma. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Texhoma
Featured Mortgage Lenders
First National Bank & Trust
First National Bank & Trust Company
First National Bank & Trust is a highly-rated community bank with deep roots in the Oklahoma Panhandle region, serving Texhoma residents with personalized mortgage services. With over 120 years of operation, they offer local underwriting and decision-making, competitive rates, and extensive experience with rural and agricultural property financing. Their mortgage team provides exceptional customer service with flexible loan options tailored to the unique needs of the Texhoma area.
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Stock Exchange Bank
Stock Exchange Bank
Stock Exchange Bank is a trusted community bank serving the Texhoma area with comprehensive mortgage solutions. With over a century of local banking experience, they specialize in rural property financing and offer competitive rates with personalized service. Their mortgage department is known for quick turnaround times and deep understanding of the local real estate market, making them a top choice for home purchases and refinancing in the Oklahoma Panhandle region.
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Arvest Bank
Arvest Bank Mortgage
Arvest Bank is a regional banking leader with strong presence in the Texhoma service area, offering comprehensive mortgage products with competitive rates and excellent customer service. While based in multiple states, they maintain local branches and mortgage specialists who understand the unique needs of the Oklahoma-Kansas border region. Their digital mortgage platform combined with local expertise provides a streamlined borrowing experience, and they consistently receive high marks for customer satisfaction and transparent lending practices.
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Frequently Asked Questions
Common questions about mortgage lending in Texhoma, OK
Are mortgage rates in Texhoma, OK, typically higher or lower than the national average?
Mortgage rates in Texhoma are generally competitive with or slightly below the national average, reflecting Oklahoma's overall lower cost of living. However, your specific rate will depend heavily on your credit profile and loan type. Working with a local lender familiar with the Texhoma market can help you secure the best available rate.
What local or state programs are available for first-time homebuyers in Texhoma?
First-time homebuyers in Texhoma should explore the **Oklahoma Housing Finance Agency (OHFA)** programs, which offer competitive interest rates, down payment assistance, and favorable terms for eligible buyers. Additionally, some local lenders may have specific products for the Texhoma area, so it's wise to ask about any city or county-specific grants or assistance programs.
How does the unique bi-state nature of Texhoma (spanning OK and TX) affect the mortgage and property tax process?
Since Texhoma is divided by the state line, it's crucial to confirm which state the property is located in, as this dictates the applicable property tax system and potentially some loan regulations. Oklahoma properties are subject to Oklahoma's property tax structure, while Texas properties have no state income tax but typically higher property tax rates, which a lender will factor into your debt-to-income ratio.
What are the most common types of mortgages used by homebuyers in Texhoma's market?
Given the relatively affordable home prices in Texhoma, conventional loans and FHA loans are very common. USDA Rural Development loans are also a popular and relevant option for eligible buyers, as much of the area qualifies for this zero-down-payment program aimed at rural communities, which can be a perfect fit for Texhoma.
How do property appraisals work in Texhoma, given its smaller, rural market?
Appraisals in Texhoma can sometimes be challenging due to fewer recent comparable sales ("comps") than in larger cities. Lenders often need to use appraisers familiar with the local rural market who may draw comps from a wider geographic area, including nearby towns. This process can occasionally take longer, so it's important to build extra time into your purchase contract contingency period.
Why Choose a Mortgage Lender in Texhoma?
Local Market Knowledge
Lenders who understand Texhoma'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 Oklahoma.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Texhoma and get competitive rates on your home loan.