The Best Mortgage Lenders in Dallas, TX
Compare verified mortgage lenders serving Dallas, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Dallas
Featured Mortgage Lenders
John Council
Guaranteed Rate
Guaranteed Rate is a top-rated mortgage lender with a strong presence in Dallas, known for its digital-first approach and competitive rates. With over two decades of experience, they excel in customer satisfaction, offering a wide range of loan products and a streamlined online process. Their local office in Dallas provides personalized service, backed by high ratings for reliability and fast closings, making them a preferred choice for homebuyers in the area.
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Mark H. Jones
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a highly reputable lender with deep roots in Texas, praised for exceptional customer service and community involvement. Founded in 1996, they offer a comprehensive suite of mortgage options and are known for their knowledgeable loan officers and competitive rates. Their Dallas branch consistently receives high marks for responsiveness and handling complex loan scenarios, ensuring a smooth homebuying experience for residents.
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Sarah Miller
Movement Mortgage
Movement Mortgage is a nationally recognized lender with a strong local presence in the Dallas-Fort Worth area, renowned for its fast processing times and community-focused approach. Since 2008, they have built a reputation for transparency and customer-centric services, including dedicated support for first-time homebuyers. Their Addison office serves Dallas clients with efficiency and high satisfaction ratings, backed by a commitment to giving back to local communities.
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Frequently Asked Questions
Common questions about mortgage lending in Dallas, TX
Are there any special first-time homebuyer programs available in Dallas, TX?
Yes, Dallas homebuyers can access several local programs. The City of Dallas offers the Dallas Homebuyer Assistance Program (DHAP), which provides up to $40,000 in forgivable down payment and closing cost assistance for eligible buyers in targeted areas. Additionally, the Texas Department of Housing and Community Affairs (TDHCA) offers statewide programs like My First Texas Home with competitive rates and down payment assistance, which are widely used in the Dallas market.
How do property taxes in Dallas County impact my mortgage payment and qualification?
Dallas County has relatively high property tax rates, often between 2.0% and 2.5% of the home's assessed value. Lenders will include this estimated monthly tax escrow in your total monthly payment (PITI), which can significantly increase the amount you need to qualify. It's crucial to get an accurate tax estimate, as high taxes can reduce the purchase price you can afford compared to other regions.
What is a typical down payment needed for a conventional loan on a Dallas home given the competitive market?
While conventional loans can technically go as low as 3% down, in Dallas's competitive housing market, especially for desirable neighborhoods like Lakewood or Uptown, a stronger offer often includes a down payment of 10-20%. This not only improves your offer's attractiveness to sellers but also helps you avoid private mortgage insurance (PMI) and can secure better interest rates from lenders.
Are there specific mortgage considerations for buying a newer home in Dallas's fast-growing northern suburbs like Frisco or Plano?
Yes, when purchasing in master-planned communities in suburbs such as Frisco, Prosper, or Celina, be aware of potential Mandatory Homeowners Association (HOA) fees. Lenders must include these monthly or annual fees in your debt-to-income ratio calculation, which can affect your loan qualification amount. Additionally, some new construction contracts may have longer closing timelines that require specific rate lock agreements.
How do jumbo loan limits and requirements differ in the Dallas metro area?
For 2024, the conforming loan limit for Dallas County is $766,550. Loans above this amount are considered jumbo and typically require stronger financials, including higher credit scores (often 700+), larger down payments (usually 10-20% minimum), and more extensive reserve requirements. Given the number of homes in areas like Highland Park, University Park, and Preston Hollow that exceed the conforming limit, many Dallas lenders have significant experience with jumbo products.
Why Choose a Mortgage Lender in Dallas?
Local Market Knowledge
Lenders who understand Dallas'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 Dallas and get competitive rates on your home loan.