The Best Mortgage Lenders in Cleburne, TX
Compare verified mortgage lenders serving Cleburne, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Cleburne
Featured Mortgage Lenders
Fairway Independent Mortgage
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a top-rated lender known for its exceptional customer service and competitive rates. With over 28 years in the industry, they offer a wide range of loan products and have a strong presence in the Cleburne area through their Fort Worth office. They are highly regarded for their personalized approach, efficient processing, and high customer satisfaction scores, making them a reliable choice for homebuyers in Johnson County.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a highly-rated lender focusing on a streamlined, digital mortgage experience with fast processing times. Founded in 2008, they have built a strong reputation for customer satisfaction and offer various loan programs, including options for first-time homebuyers. Their Fort Worth office serves Cleburne residents with competitive rates and a commitment to community involvement, backed by numerous positive reviews.
Loan Types:
New American Funding
New American Funding
New American Funding is a reputable lender known for its competitive rates and diverse loan products. With over 21 years of experience, they have a strong track record in the Cleburne area through their Fort Worth branch, offering educational resources and personalized service. They excel in customer satisfaction, with high ratings for their transparency, community focus, and ability to handle various mortgage needs, from first-time purchases to refinances.
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Frequently Asked Questions
Common questions about mortgage lending in Cleburne, TX
Are there any special mortgage programs for first-time homebuyers in Cleburne, TX?
Yes, Cleburne homebuyers can access the Texas Department of Housing and Community Affairs (TDHCA) programs like the My First Texas Home loan, which offers competitive interest rates, down payment assistance, and mortgage credit certificates. Additionally, local lenders often have specific programs for Johnson County that can be paired with these state offerings, making homeownership more accessible in Cleburne's market.
How does Cleburne's property tax rate affect my mortgage payments?
Cleburne and Johnson County have a combined property tax rate that is typically higher than the national average, often around 2.3% to 2.5%. This significantly impacts your total monthly mortgage payment, as lenders will escrow for these taxes. It's crucial to factor this into your budget, as a home's advertised price can be misleading without calculating the substantial annual tax burden.
What is the typical down payment needed for a home in Cleburne's market?
While 20% down is standard to avoid private mortgage insurance (PMI), many buyers in Cleburne utilize conventional loans with 3-5% down or FHA loans with 3.5% down, especially given the area's relatively affordable home prices compared to the DFW metroplex. Local lenders are familiar with appraisals in Cleburne's diverse neighborhoods and can guide you on the minimum down payment required for your specific loan type.
Are USDA loans a viable option for mortgages in Cleburne, TX?
Absolutely. A significant portion of the land around Cleburne is eligible for USDA Rural Development loans, which offer 100% financing (no down payment). This is a major advantage for eligible buyers looking at properties just outside the city limits. A local mortgage officer can quickly determine if a specific property address qualifies for this beneficial program.
How do I account for Cleburne's unique foundation and soil conditions when getting a mortgage?
Due to the expansive clay soil common in North Texas, lenders in Cleburne often require a specific foundation inspection as part of the appraisal process, especially for older homes. It's wise to budget for a separate professional foundation evaluation during your option period, as any significant issues discovered can affect the home's appraised value and your loan's final approval.
Why Choose a Mortgage Lender in Cleburne?
Local Market Knowledge
Lenders who understand Cleburne'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 Cleburne and get competitive rates on your home loan.