The Best Mortgage Lenders in Cumby, TX
Compare verified mortgage lenders serving Cumby, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Cumby
Featured Mortgage Lenders
Movement Mortgage
Movement Mortgage
Movement Mortgage is a highly-rated national lender with a strong presence in Texas, known for its competitive rates and exceptional customer service. They specialize in a wide range of loan products and have a reputation for quick closings and personalized service. With numerous positive reviews highlighting their efficiency and support, they are a top choice for homebuyers in Cumby and surrounding areas.
Loan Types:
Fairway Independent Mortgage
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a reputable lender with deep roots in Texas, offering comprehensive mortgage solutions and competitive rates. They are praised for their local expertise, transparent process, and high customer satisfaction scores. Serving Cumby through their regional offices, they provide reliable service with a focus on community engagement and tailored loan options.
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Supreme Lending
Supreme Lending
Supreme Lending, headquartered in Dallas, is a well-established mortgage company with a strong regional presence in North Texas. They are known for their innovative loan programs, responsive customer service, and ability to handle complex financing needs. With consistently high ratings and a commitment to serving rural areas like Cumby, they offer reliable and efficient mortgage processing.
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Frequently Asked Questions
Common questions about mortgage lending in Cumby, TX
Are there any special mortgage considerations for buying a home in Cumby, TX, given its rural location?
Yes, due to Cumby's rural designation in Hopkins County, many properties may be eligible for USDA Rural Development loans, which offer 100% financing with no down payment. It's important to verify the specific property's eligibility, as this can be a significant advantage over conventional loans. Additionally, well and septic inspections are often a critical part of the appraisal process for homes outside city water and sewer lines.
What are typical property tax rates in Cumby, and how do they impact my mortgage payment?
Property tax rates in Cumby and Hopkins County are relatively high compared to national averages, often ranging from 1.8% to 2.2% of the appraised value. Your lender will calculate an escrow payment for taxes as part of your monthly mortgage payment, which can substantially increase your total monthly outlay. It's crucial to factor this into your budget when determining how much house you can afford in the area.
What local or state programs are available for first-time homebuyers in Cumby, Texas?
Texas offers the Texas Department of Housing and Community Affairs (TDHCA) My First Texas Home program, which provides down payment assistance and competitive mortgage rates for eligible first-time buyers. Additionally, the Texas State Affordable Housing Corporation (TSAHC) has similar programs. Working with a local lender familiar with these programs is key, as they can guide you through the income and purchase price limits that apply in Hopkins County.
How does the appraisal process work for Cumby's mix of older homes and new construction?
Appraisals in Cumby can be challenging due to the limited number of recent, comparable sales ("comps") in a small market. For older homes, appraisers will pay close attention to the condition of foundational elements, roofing, and major systems. For new construction, ensure your builder is approved by your lender. In either case, using a local lender with appraiser connections in Northeast Texas can help streamline this process.
Are there specific lenders or credit unions in the Cumby area that offer advantages for local homebuyers?
While national lenders are an option, local community banks and regional credit unions, such as those based in nearby Sulphur Springs or Greenville, often have deeper knowledge of the Cumby market. They may offer more personalized service and sometimes have more flexibility with underwriting for unique properties. They are also typically more familiar with the local contractors and inspectors you'll need during the buying process.
Why Choose a Mortgage Lender in Cumby?
Local Market Knowledge
Lenders who understand Cumby'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 Cumby and get competitive rates on your home loan.