The Best Mortgage Lenders in Allen, TX
Compare verified mortgage lenders serving Allen, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Allen
Featured Mortgage Lenders
Texas Trust Credit Union
Texas Trust Credit Union
Texas Trust Credit Union is one of the most highly-rated mortgage lenders in the Allen area with deep community roots and exceptional customer satisfaction. As a member-owned financial institution, they offer competitive rates and personalized service that consistently earns them top ratings. Their mortgage team specializes in guiding borrowers through the entire home buying process with expertise in conventional loans, government-backed programs, and specialized financing options. With multiple branches throughout the Dallas-Fort Worth metroplex including their Allen location, they provide convenient local service combined with the stability of an 85-year-old institution.
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Supreme Lending
Supreme Lending
Supreme Lending has built an outstanding reputation in Allen and throughout North Texas as a premier mortgage provider with exceptional customer service ratings. Founded in 1999, this Dallas-based company has grown to become one of the most respected mortgage lenders in the region, known for their competitive rates and efficient loan processing. Their Allen branch is particularly well-regarded for serving local homebuyers with a comprehensive range of loan products and expert guidance. The company consistently receives high marks for their responsive communication, transparent process, and ability to close loans quickly.
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Guild Mortgage
Guild Mortgage Company
Guild Mortgage brings six decades of mortgage expertise to Allen homebuyers with a strong local presence and national resources. Their Allen branch is consistently rated among the top mortgage lenders in Collin County, offering personalized service and a wide variety of loan programs to meet diverse borrower needs. As a direct lender with in-house underwriting and processing, they can often provide faster closings and more flexible solutions than many competitors. Guild is particularly noted for their exceptional customer service throughout the loan process and their commitment to community involvement in the North Texas area.
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Frequently Asked Questions
Common questions about mortgage lending in Allen, TX
What are the typical down payment requirements for homes in Allen, TX, given its competitive market?
In Allen's competitive real estate market, a 20% down payment is often recommended to strengthen your offer and avoid private mortgage insurance (PMI). However, many buyers successfully use conventional loans with as little as 3% down or FHA loans with 3.5% down, though a larger down payment can be a significant advantage in multiple-offer situations common in the area.
Are there any down payment assistance programs specifically for first-time homebuyers in Allen?
Yes, first-time homebuyers in Allen can access statewide programs like the Texas Department of Housing and Community Affairs (TDHCA) My First Texas Home program, which offers competitive interest rates and down payment assistance. Additionally, the City of Allen itself does not run a specific program, but buyers should consult with local lenders familiar with all available Texas and Collin County options.
How do Allen's property taxes impact my mortgage qualification and monthly payment?
Allen's property taxes, which are part of the Collin County tax system, are relatively high (typically around 2.1-2.4% of the home's assessed value). Lenders will include this estimated monthly tax escrow in your debt-to-income ratio calculation, which can significantly affect how much home you qualify for. It's crucial to budget for this when determining your affordable price range in Allen.
What type of mortgage is most common for buyers in Allen's newer housing developments?
Given the prevalence of newer, mid-to-high-priced homes in master-planned communities like Watters Creek, conventional conforming loans are the most common. For higher-priced homes exceeding the conforming loan limit (currently $766,550 in Collin County for 2024), buyers often utilize jumbo loans, which may have slightly stricter credit and reserve requirements.
Does the Allen Independent School District (AISD) reputation affect the mortgage or appraisal process?
While AISD's top-rated reputation doesn't directly affect loan terms, it profoundly impacts home values and appraisal outcomes. Appraisers heavily consider school district quality, and homes in the AISD boundaries often appraise at or above contract price, supporting strong lending decisions. This stability can also provide lenders with greater confidence in the long-term value of their collateral.
Why Choose a Mortgage Lender in Allen?
Local Market Knowledge
Lenders who understand Allen'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 Texas.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Allen and get competitive rates on your home loan.