The Best Mortgage Lenders in Colleyville, TX
Compare verified mortgage lenders serving Colleyville, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Colleyville
Featured Mortgage Lenders
Mike Maida
Fairway Independent Mortgage Corporation
Mike Maida with Fairway Independent Mortgage is one of the highest-rated mortgage professionals serving the Colleyville area, located just minutes away in Southlake. With nearly two decades of experience and hundreds of 5-star reviews, he specializes in providing personalized mortgage solutions for homebuyers in Northeast Tarrant County. His team is known for exceptional communication, competitive rates, and streamlined loan processes, making them a top choice for Colleyville residents seeking conventional, jumbo, and government-backed loans.
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Brian Scott
Supreme Lending
Brian Scott at Supreme Lending has built an outstanding reputation serving the entire Dallas-Fort Worth metroplex, including Colleyville homeowners. With over a decade of mortgage experience and numerous industry awards, his team provides comprehensive lending services with a focus on competitive pricing and exceptional customer service. Supreme Lending's strong local presence and commitment to community involvement make them a trusted choice for Colleyville homebuyers seeking reliable mortgage financing with personalized attention.
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Scott R. Stucky
Guild Mortgage
Scott Stucky with Guild Mortgage brings nearly two decades of mortgage expertise to Colleyville homebuyers from his nearby Southlake office. As a consistently top-producing loan officer, he specializes in navigating complex financial situations and providing tailored loan solutions. Guild Mortgage's strong financial stability and extensive product offerings, combined with Scott's deep knowledge of the local Colleyville real estate market, make this an excellent choice for buyers seeking experienced guidance and competitive loan options.
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Frequently Asked Questions
Common questions about mortgage lending in Colleyville, TX
What are the typical down payment requirements for a home in Colleyville's competitive market?
In Colleyville's high-value market, where the median home price is well above the national average, a 20% down payment is often standard to avoid private mortgage insurance (PMI). However, many lenders offer conventional loans with down payments as low as 5% or 10%, and qualified buyers can utilize VA or USDA loans for 0% down. Given the substantial loan amounts, a larger down payment can significantly impact your monthly payment and interest rate competitiveness.
Are there any local or Tarrant County programs to help with down payment or closing costs for first-time homebuyers in Colleyville?
While Colleyville itself does not offer a city-specific program, Tarrant County provides the "Homebuyer Assistance Program" (HAP) for income-eligible first-time buyers, which can offer up to $20,000 in down payment and closing cost assistance as a deferred, forgivable loan. Additionally, the Texas Department of Housing and Community Affairs (TDHCA) offers statewide programs like the My First Texas Home program, which can be combined with mortgage credit certificates for tax savings.
How do property taxes in Colleyville impact my mortgage qualification and monthly payment?
Colleyville has property tax rates that are notably higher than the national average, typically around 2.1-2.3% of the appraised value. Lenders will calculate this into your debt-to-income ratio, and your monthly mortgage payment will include a substantial escrow portion for taxes. It's crucial to budget for this, as taxes on a $750,000 home can add $1,400+ to your monthly payment, significantly affecting how much home you can qualify for.
What type of home appraisal challenges are common in Colleyville, and how can they affect my loan?
Due to Colleyville's premium market with many custom-built and renovated homes, appraisals can sometimes be challenging if there are few truly comparable recent sales ("comps") in the immediate area. An appraisal coming in below the contract price can jeopardize loan approval unless the buyer makes up the difference in cash. Working with a lender familiar with the local market who can provide an appraiser experienced with high-value North Texas properties is highly recommended.
Is it common to use jumbo loans in Colleyville, and how do their requirements differ?
Yes, jumbo loans are very common in Colleyville, as home prices frequently exceed the conforming loan limit ($$766,550 for 2024). Jumbo loans typically require stronger financial profiles, including higher credit scores (often 700+), lower debt-to-income ratios, and more substantial cash reserves (sometimes 6-12 months of payments). Interest rates for jumbo loans can be competitive with or slightly higher than conforming rates, but underwriting is more rigorous.
Why Choose a Mortgage Lender in Colleyville?
Local Market Knowledge
Lenders who understand Colleyville'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 Colleyville and get competitive rates on your home loan.