The Best Mortgage Lenders in Decatur, TX
Compare verified mortgage lenders serving Decatur, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Decatur
Featured Mortgage Lenders
Mortgage Department
First National Bank of Decatur
First National Bank of Decatur stands as the premier local mortgage lender in the Decatur community with over 130 years of continuous service. As a community bank deeply rooted in Wise County, they offer personalized mortgage services with local underwriting and decision-making. Their mortgage team has extensive experience with Texas property types including rural properties and acreage homes. Customers consistently praise their competitive rates, transparent process, and exceptional customer service, with many noting the advantage of working with lenders who understand the local real estate market intimately.
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Mortgage Team
Benchmark Mortgage (Fort Worth/Decatur Service Area)
Benchmark Mortgage maintains a strong presence throughout North Texas including Decatur and Wise County. With multiple local loan officers specifically serving the Decatur area, they combine national lending power with local expertise. They are particularly noted for their efficient processing times and competitive jumbo loan products. The company has built an outstanding reputation for handling complex mortgage scenarios and providing educational resources to help borrowers make informed decisions. Their high customer satisfaction ratings reflect consistent performance across purchase and refinance transactions.
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Mortgage Division
Fairway Independent Mortgage Corporation (Denton/Decatur Office)
Fairway Independent Mortgage Corporation has established itself as a top mortgage lender serving the Decatur market through their nearby Denton office. They are particularly recognized for their competitive VA loan programs and excellent service for military families and veterans. The company consistently receives praise for their responsive communication and ability to close loans quickly. Their local loan officers have extensive knowledge of North Texas property values and market conditions, making them a trusted choice for Decatur homebuyers seeking reliable mortgage services with competitive rates and fees.
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Frequently Asked Questions
Common questions about mortgage lending in Decatur, TX
What are the current mortgage rates like in Decatur, TX, and how do they compare to the national average?
Mortgage rates in Decatur typically align closely with national averages, but local lenders may offer competitive terms due to the community-focused banking environment. As of recent trends, rates in Wise County are often slightly favorable compared to larger metropolitan areas in Texas, but it's crucial to get quotes from both local credit unions and national lenders. Your specific rate will depend heavily on your credit score, down payment, and the type of loan you choose.
Are there any down payment assistance or first-time homebuyer programs specifically available for Decatur residents?
Yes, Decatur homebuyers can access several Texas-wide programs, such as the Texas Department of Housing and Community Affairs (TDHCA) programs which offer down payment assistance and competitive interest rates for eligible first-time buyers. Additionally, local lenders like First Financial Bank and community banks often have knowledge of and can facilitate applications for these programs, which can be particularly helpful given Decatur's median home prices.
How does the appraisal process work in Decatur, given its mix of rural properties and in-town homes?
Appraisals in Decatur require appraisers familiar with both the established neighborhoods in the city limits and the surrounding rural acreage in Wise County. For rural properties, well and septic systems, land value, and access are significant factors. For in-town homes, comparables (comps) from recent sales in Decatur's distinct subdivisions are used. Using a local lender who works with appraisers from the Fort Worth region who know this specific market is highly recommended.
What should I know about property taxes and insurance when calculating my monthly mortgage payment in Decatur?
Wise County property taxes are a key component of your monthly escrow payment, with rates that can vary but are a significant consideration in your overall housing cost. Additionally, due to North Texas weather patterns, homeowners insurance (including potential for wind/hail coverage) can be higher than national averages. Your lender will help you estimate these costs accurately, but budgeting for these local factors is essential for a comfortable payment.
Are USDA Rural Development loans a viable option for homes in or near Decatur, TX?
Absolutely. Much of Wise County, including areas on the outskirts of Decatur, is eligible for USDA loans, which offer 100% financing (no down payment). This can be an excellent option for eligible buyers looking at properties just outside the city limits. It's important to confirm the specific property's eligibility through the USDA website and work with a lender experienced in processing these loans in North Texas.
Why Choose a Mortgage Lender in Decatur?
Local Market Knowledge
Lenders who understand Decatur'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 Decatur and get competitive rates on your home loan.