The Best Mortgage Lenders in Chatfield, TX
Compare verified mortgage lenders serving Chatfield, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Chatfield
Featured Mortgage Lenders
Jason Bane
Legacy Mutual Mortgage
Legacy Mutual Mortgage is a highly-rated regional mortgage lender with strong presence throughout Texas, including rural areas like Chatfield. They specialize in serving both urban and rural Texas communities with personalized service and competitive rates. With over 15 years of experience, they offer a wide range of loan programs including USDA loans which are particularly valuable for rural homebuyers in areas like Chatfield. Their exceptional 4.9 rating across multiple review platforms reflects their commitment to customer satisfaction and smooth closing processes.
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Customer Service
First Federal Bank of Texas
First Federal Bank of Texas has been serving Navarro County and surrounding areas for nearly a century, making them exceptionally familiar with the Chatfield area real estate market. As a community bank headquartered just 15 miles from Chatfield in Corsicana, they offer localized underwriting and decision-making. Their long-standing presence in the community ensures deep understanding of rural property values and lending needs. They provide competitive rates and personalized service with the stability of a federally chartered institution.
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Local Mortgage Team
Guild Mortgage Company
Guild Mortgage is a nationwide lender with strong Texas operations and specific expertise in rural lending, making them an excellent choice for Chatfield homebuyers. They offer specialized USDA loan programs that are ideal for rural properties and have extensive experience with the unique aspects of rural Texas real estate. Their 4.8 rating reflects consistent customer satisfaction, and their digital mortgage process combined with local loan officers provides both convenience and personalized service. Guild has been recognized for their exceptional customer service and diverse loan product offerings.
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Frequently Asked Questions
Common questions about mortgage lending in Chatfield, TX
What are the typical down payment requirements for homes in Chatfield, TX, given its rural market?
In Chatfield's rural market, many lenders offer USDA Rural Development loans, which require **0% down payment** for eligible borrowers and properties. For conventional loans, a 3-5% down payment is common, but local lenders often work with programs from the Texas Department of Housing and Community Affairs (TDHCA) that can assist with down payment and closing costs for qualifying buyers in Navarro County.
Are there any special mortgage considerations for buying acreage or land with a home in Chatfield?
Yes, financing a property with significant acreage (typically over 10 acres) in the Chatfield area often requires a specialized "rural" or "non-conforming" loan. Lenders may require a larger down payment (20-30%) and a more thorough appraisal that evaluates the land's agricultural or use value separately from the home. It's crucial to work with a lender experienced in rural Texas properties.
What local or state programs can help first-time homebuyers in Chatfield?
First-time buyers in Chatfield should explore the **Texas State Affordable Housing Corporation (TSAHC)** and **TDHCA** programs, which offer down payment assistance grants and competitive interest rate mortgages for low-to-moderate income households. Additionally, Navarro County may have specific community development grants; checking with local lenders or the county housing authority is recommended.
How do property taxes in Navarro County impact mortgage payments and affordability in Chatfield?
Navarro County property tax rates are a significant component of your monthly mortgage payment, as they are typically escrowed. While Chatfield offers a lower cost of living than urban areas, effective tax rates in the county can range from 1.8% to 2.2% of the home's appraised value. Your lender will calculate this into your Debt-to-Income (DTI) ratio, so it's a key factor in determining how much house you can afford locally.
Is homeowner's flood insurance required for mortgages in Chatfield, TX?
Due to Chatfield's location and terrain, most properties are not in a designated high-risk flood zone (Zone A). Therefore, mandatory flood insurance is not typically a requirement for a mortgage. However, lenders will still order a Flood Zone Determination, and it is always wise to consider optional coverage given Texas weather patterns, as standard homeowner's policies do not cover flood damage.
Why Choose a Mortgage Lender in Chatfield?
Local Market Knowledge
Lenders who understand Chatfield'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 Chatfield and get competitive rates on your home loan.