The Best Mortgage Lenders in Cross Plains, TX
Compare verified mortgage lenders serving Cross Plains, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Cross Plains
Featured Mortgage Lenders
Mortgage Department
First Financial Bank
First Financial Bank has been serving the Cross Plains area for decades through their Abilene location just 30 miles away. As one of the most established regional banks in West Texas, they offer deep local market knowledge and personalized mortgage services. Their mortgage team receives consistently excellent reviews for their responsiveness, competitive rates, and expertise with rural property financing. They understand the unique needs of Cross Plains homeowners and offer specialized construction and land loans perfect for the area.
Loan Types:
Mortgage Services
First National Bank of East Texas
While based in Tyler, First National Bank of East Texas has extensive experience serving rural Texas communities like Cross Plains. They specialize in agricultural and rural property lending with particular expertise in USDA loans that benefit Cross Plains residents. Their construction-to-permanent loan programs are ideal for the growing Cross Plains area. Customers consistently praise their knowledgeable loan officers who understand rural property valuation and the specific challenges of country living.
Loan Types:
Mortgage Division
Benchmark Mortgage
Benchmark Mortgage operates throughout Texas with loan officers who specifically serve the Cross Plains region. They receive outstanding customer reviews for their competitive rates, efficient processing, and exceptional communication throughout the loan process. As a mortgage-focused company rather than a traditional bank, they offer more flexible underwriting and specialized programs for various borrower situations. Their extensive experience with Texas rural properties makes them an excellent choice for Cross Plains homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Cross Plains, TX
What are typical down payment requirements for homes in Cross Plains, TX, given the local market?
In Cross Plains, where median home prices are relatively affordable compared to larger Texas cities, many conventional loans require a 5-10% down payment. However, for qualified buyers, USDA Rural Development loans are a popular option as they offer 100% financing with no down payment, since Cross Plains meets the USDA's rural eligibility criteria. Local lenders are very familiar with this program.
Are there any local or county-specific first-time homebuyer assistance programs in Cross Plains?
While Cross Plains itself does not have a city-run program, Texas State Affordable Housing Corporation (TSAHC) programs are accessible to eligible buyers in Callahan County. These can provide down payment assistance grants and favorable mortgage rates. It's also worth checking with local credit unions, like First Financial Bank, which may have special offers for community members.
How do property taxes in Callahan County impact my mortgage payment in Cross Plains?
Callahan County property tax rates are a significant component of your monthly mortgage escrow payment. Rates are generally higher than the national average but competitive within Texas. Your lender will calculate an estimated monthly tax portion based on the appraised value, which is crucial for accurate budgeting as it can add several hundred dollars to your monthly payment.
What type of property insurance considerations are unique to getting a mortgage in Cross Plains?
Lenders will require homeowners insurance, and in this part of West Texas, it's important to consider additional coverage. Given the rural setting and weather patterns, you may need separate policies or endorsements for wind/hail damage and, if your property is outside city limits, possibly a farm and ranch policy that covers outbuildings or livestock fencing.
Is it difficult to get a mortgage for land or a manufactured home in the Cross Plains area?
Financing for land or manufactured homes can be more specialized but is available. For raw land, local agricultural banks or credit unions often offer land loans with shorter terms. For manufactured homes, they must be permanently affixed to a foundation and titled as real property to qualify for conventional or FHA financing; local lenders have experience with these specific requirements.
Why Choose a Mortgage Lender in Cross Plains?
Local Market Knowledge
Lenders who understand Cross Plains'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 Cross Plains and get competitive rates on your home loan.