The Best Mortgage Lenders in Commerce, TX
Compare verified mortgage lenders serving Commerce, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Commerce
Featured Mortgage Lenders
Texas Republic Bank Mortgage Team
Texas Republic Bank
Texas Republic Bank is a highly-rated community bank with deep roots in Hunt County and strong presence serving Commerce residents. As a local institution with personalized service, they offer competitive mortgage rates and flexible loan programs tailored to Northeast Texas homebuyers. Their mortgage team provides one-on-one guidance through the entire home financing process, with particular expertise in rural property loans and first-time homebuyer programs. The bank's local decision-making and community-focused approach make them a top choice for Commerce area residents seeking reliable mortgage services.
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Supreme Lending
Supreme Lending
Supreme Lending is a nationally recognized mortgage company with strong Texas roots and extensive experience serving the Commerce area. With multiple physical branches throughout North Texas, they offer comprehensive mortgage solutions including specialized programs for first-time homebuyers and military families. Their digital mortgage platform combined with local loan officer support provides Commerce residents with both convenience and personalized service. Supreme Lending consistently receives high marks for their competitive rates, efficient closing processes, and exceptional customer service across thousands of reviews.
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Guild Mortgage
Guild Mortgage Company
Guild Mortgage brings six decades of mortgage expertise to Commerce homebuyers through their strong North Texas presence. As one of the largest independent mortgage lenders in the U.S., they offer an exceptional range of loan products including unique down payment assistance programs that benefit Commerce area buyers. Their local loan officers understand the specific market dynamics of Hunt County and surrounding areas. Guild is particularly noted for their excellent customer service, educational approach to home financing, and ability to close loans efficiently while maintaining competitive interest rates.
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Frequently Asked Questions
Common questions about mortgage lending in Commerce, TX
Are there any special first-time homebuyer programs available specifically for Commerce, TX?
Yes, Commerce 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 and down payment assistance. Additionally, local lenders often have relationships with regional programs that can provide grants or favorable terms for buyers in Hunt County, making homeownership more accessible in Commerce.
How do property taxes in Commerce, TX, impact my mortgage payments and affordability?
Hunt County, where Commerce is located, has property tax rates that are a significant component of your monthly mortgage payment via escrow. The combined city and county rate is moderately high for Texas, so lenders will carefully factor this into your debt-to-income ratio. It's crucial to get an accurate tax estimate when determining your true homebuying budget in Commerce.
What types of properties are most common for mortgage lending in Commerce, and does this affect loan options?
Commerce features a mix of single-family homes, older historic properties near Texas A&M University-Commerce, and newer constructions. For older homes, a thorough appraisal is key, and some may require specific renovation loans like the FHA 203(k). Conventional, FHA, and VA loans are all widely available, with lenders familiar with appraising both student-rental properties and primary residences.
Does being a university town affect the mortgage process or availability of investment property loans in Commerce?
Absolutely. The presence of Texas A&M University-Commerce creates a steady rental market, making investment property loans for single-family homes or small multi-unit properties more common. Lenders in the area are experienced with underwriting loans for non-owner-occupied properties but may require higher down payments and have stricter qualification standards for investors.
What are typical down payment requirements for buyers in Commerce, TX, given the local market?
While 20% down avoids private mortgage insurance (PMI), many Commerce buyers utilize programs requiring much less. FHA loans can require as little as 3.5% down, and conventional loans can go as low as 3% for qualified first-time buyers. With Commerce's relatively affordable home prices compared to major metros, achieving a manageable down payment is often very feasible for local buyers.
Why Choose a Mortgage Lender in Commerce?
Local Market Knowledge
Lenders who understand Commerce'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 Commerce and get competitive rates on your home loan.