The Best Mortgage Lenders in Chico, TX
Compare verified mortgage lenders serving Chico, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Chico
Featured Mortgage Lenders
New American Funding
New American Funding
New American Funding is a highly-rated mortgage lender renowned for its competitive rates, exceptional customer service, and diverse loan options. With over two decades of experience, they have a strong regional presence in North Texas, including service to Chico, and are praised for their streamlined application process and support for first-time homebuyers. Their commitment to community engagement and personalized service makes them a top choice for residents in Wise County and beyond.
Loan Types:
CrossCountry Mortgage
CrossCountry Mortgage
CrossCountry Mortgage is a top-tier lender known for its fast, efficient loan processing and extensive product portfolio. With over 20 years in the industry, they have a dedicated team in the Dallas-Fort Worth area that serves Chico and surrounding regions, offering competitive rates and personalized guidance. Their high customer satisfaction ratings stem from a focus on transparency and support throughout the mortgage journey, making them a reliable option for homebuyers in rural and urban Texas communities.
Loan Types:
Movement Mortgage
Movement Mortgage
Movement Mortgage stands out for its community-centric approach and rapid loan closing times, often completing processes in as little as 3 weeks. With 16 years of experience, they have a strong foothold in Texas, including service to Chico, and are lauded for their competitive rates and dedicated local loan officers. Their emphasis on building relationships and providing educational resources ensures a smooth experience for buyers in Wise County and the broader DFW metroplex.
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Frequently Asked Questions
Common questions about mortgage lending in Chico, TX
What are the typical down payment requirements for homes in Chico, TX, given its rural setting?
In Chico, many homes are considered rural, which can qualify buyers for USDA loans requiring 0% down payment. For conventional loans, down payments typically range from 3-20%, but local lenders often work with buyers on FHA loans (3.5% down) due to the area's moderate home prices. It's advisable to consult a lender familiar with Wise County's property types.
Are there any local or county-specific first-time homebuyer assistance programs available in Chico?
While Chico itself doesn't have a city-run program, Wise County and the state of Texas offer resources. The Texas Department of Housing and Community Affairs (TDHCA) provides down payment assistance and favorable mortgage rates for first-time buyers, which are accessible to Chico residents. Additionally, some local credit unions may offer special programs for those buying in rural communities.
How does Chico's location in a USDA-eligible area affect my mortgage options?
Chico's designation as a USDA-eligible rural area is a significant advantage, opening access to USDA Section 502 Guaranteed Loans. These loans offer 100% financing (no down payment), competitive interest rates, and more flexible credit requirements compared to conventional loans, making homeownership more accessible for qualifying buyers in the area.
What should I know about property taxes and insurance when calculating my mortgage payment in Chico?
Wise County property taxes are a key component of your monthly payment, with rates typically around 2.1-2.3% of the home's assessed value. For insurance, due to Chico's rural nature and proximity to open land, you may need to consider additional coverage for well/septic systems or acreage, which can affect your overall escrow payment.
How do mortgage rates and lender availability in Chico compare to larger nearby cities like Fort Worth?
Mortgage rates in Chico are generally consistent with national and state averages, but you may find slightly different terms from local community banks and credit unions that understand the rural market. While you can use lenders from Fort Worth, working with a local or regional lender familiar with Wise County can streamline the appraisal and closing process for rural properties.
Why Choose a Mortgage Lender in Chico?
Local Market Knowledge
Lenders who understand Chico'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 Chico and get competitive rates on your home loan.