The Best Mortgage Lenders in Desoto, TX
Compare verified mortgage lenders serving Desoto, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Desoto
Featured Mortgage Lenders
Guild Mortgage - DeSoto
Guild Mortgage Company
Guild Mortgage's DeSoto branch stands out as one of the highest-rated local mortgage lenders serving the community directly. With exceptional 4.9-star ratings from nearly 90 reviews, they specialize in serving first-time homebuyers and offer a comprehensive range of loan programs including specialized options for military veterans. Their local office presence in DeSoto ensures personalized service and deep understanding of the local real estate market, making them a top choice for DeSoto residents seeking mortgage financing with excellent customer support.
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PrimeLending
PrimeLending, A PlainsCapital Company
PrimeLending maintains a strong presence throughout the Dallas-Fort Worth metroplex with exceptional service to DeSoto homebuyers. With over 300 reviews averaging 4.8 stars, they're renowned for competitive rates and efficient loan processing. Their extensive experience in the DFW market since 1988 provides deep local market knowledge, and they offer a wide array of loan products including specialized programs for various buyer needs. Their consistent high ratings and comprehensive service make them a trusted choice for DeSoto area mortgages.
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Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corp
Fairway Independent Mortgage Corporation has built an outstanding reputation throughout the Dallas-Fort Worth region with consistent 4.7-star ratings from over 200 reviews. Serving DeSoto homebuyers with comprehensive mortgage solutions, they excel in both purchase and refinance transactions. Their long-standing presence since 1996 and extensive local expertise make them particularly strong with complex loan scenarios and first-time homebuyer programs. Known for responsive communication and competitive pricing, they provide reliable mortgage services to the DeSoto community with proven customer satisfaction records.
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Frequently Asked Questions
Common questions about mortgage lending in Desoto, TX
Are there any special first-time homebuyer programs available specifically for Desoto, TX?
Yes, Desoto homebuyers can access the Texas State Affordable Housing Corporation's (TSAHC) Homes for Texas Heroes and Home Sweet Texas programs, which offer down payment assistance and competitive interest rates. Additionally, the City of Desoto itself occasionally offers local incentive programs for homebuyers, so it's wise to check with the Desoto Economic Development Corporation for any active initiatives targeting teachers, healthcare workers, or municipal employees.
How do property taxes in Desoto impact my mortgage payment and affordability?
Desoto is located in Dallas County, which has relatively high property tax rates. Your lender will calculate an escrow payment as part of your monthly mortgage to cover these taxes, significantly affecting your total payment. It's crucial to factor this into your budget, as a home's advertised price can be misleading without accounting for Desoto's effective tax rate, which is typically over 2.3%.
What is the typical down payment needed for a conventional loan on a home in Desoto's current market?
While 20% down is ideal to avoid private mortgage insurance (PMI), many buyers in Desoto successfully purchase with 3%, 5%, or 10% down using conventional loans, especially with competitive offers. Given Desoto's median home price, a 3% down payment can be a more accessible entry point, but you should be prepared for higher monthly payments due to PMI and the strong seller's market requiring competitive offers.
Does Desoto, TX qualify for USDA rural development home loans?
No, Desoto does not qualify for USDA loans, as it is considered a suburban area within the Dallas-Fort Worth metroplex and is not designated as "rural" by the USDA. Homebuyers should instead explore FHA, VA (if eligible), conventional, or the state and local down payment assistance programs mentioned above to finance a home in the city.
How does Desoto's proximity to Dallas affect mortgage lending and home appraisals?
Lenders and appraisers view Desoto as a stable suburban market influenced by the broader Dallas economy, which is generally positive for loan approval. Appraisals will heavily use comparable sales ("comps") from Desoto and nearby southern Dallas County suburbs like Duncanville and Cedar Hill. Strong demand in the DFW area helps support property values, but appraisers will also scrutinize the specific condition and location of the home within Desoto.
Why Choose a Mortgage Lender in Desoto?
Local Market Knowledge
Lenders who understand Desoto'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 Desoto and get competitive rates on your home loan.