The Best Mortgage Lenders in Edgewood, TX
Compare verified mortgage lenders serving Edgewood, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Edgewood
Featured Mortgage Lenders
Fairway Independent Mortgage
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a top-rated lender renowned for its exceptional customer service, competitive rates, and wide range of loan options. With over 25 years of experience, they have a strong local presence in East Texas, including Edgewood, and are praised for their personalized, efficient mortgage processes and high customer satisfaction scores. Their team offers expert guidance for various home loan types, making them a trusted choice for borrowers in the region.
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Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage stands out for its fast, reliable service and commitment to community involvement in East Texas. Founded in 2008, they have built a reputation for transparent lending practices, competitive rates, and a streamlined approval process. Serving Edgewood and surrounding areas, they excel in providing customized mortgage solutions with a focus on customer education and support, earning high marks from borrowers for responsiveness and professionalism.
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New American Funding
New American Funding, LLC
New American Funding is a highly regarded national lender with a strong regional presence in Texas, serving Edgewood through its Dallas office. Known for innovative loan products and a focus on diversity and inclusion, they offer competitive rates and exceptional customer service. With 20 years of experience, they have a track record of helping borrowers with various financial backgrounds achieve homeownership, supported by positive reviews for their knowledgeable staff and efficient closing processes.
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Frequently Asked Questions
Common questions about mortgage lending in Edgewood, TX
Are there any down payment assistance programs specifically for Edgewood, TX, homebuyers?
Yes, the Texas Department of Housing and Community Affairs (TDHCA) offers statewide programs like My First Texas Home and Texas Mortgage Credit Certificate, which are accessible to Edgewood buyers. Additionally, the East Texas Council of Governments (ETCOG) region may offer local grants or assistance for income-eligible buyers in Van Zandt County, where Edgewood is located. Consulting with a local lender familiar with these programs is crucial to determine your eligibility.
How do property taxes in Edgewood, TX, impact my monthly mortgage payment?
Van Zandt County property taxes are a significant component of your monthly escrow payment in Edgewood. The combined tax rate for Edgewood ISD, Van Zandt County, and other local entities can be relatively high compared to national averages, which increases your total monthly payment. It's essential to factor this into your budget, as even a moderately priced home can have a substantial tax burden affecting your debt-to-income ratio.
What types of properties are most common for mortgage lending in Edgewood, and does that affect loan options?
Edgewood features many single-family homes on larger, rural lots, as well as some manufactured homes. Conventional, FHA, and VA loans are widely available for site-built homes. For manufactured homes, financing can be more specific; they must be on a permanent foundation and titled as real property to qualify for most standard mortgage programs, which is a key local consideration.
As a first-time homebuyer in Edgewood, should I consider a USDA Rural Development loan?
Absolutely. Edgewood is eligible for USDA Rural Development loans, which offer 100% financing (no down payment) for qualified buyers and properties. This is an excellent option given Edgewood's designation and can make homeownership more accessible. Income limits apply, but for many Edgewood buyers, this program can be more advantageous than FHA or conventional loans with down payment requirements.
How does the appraisal process work for a home in a rural area like Edgewood, TX?
Appraisals in Edgewood can present unique challenges due to the rural setting and potentially fewer comparable recent sales ("comps"). An appraiser may need to look at sales in a wider geographic area or adjust for differences in land size and amenities. This process can sometimes take longer or require a more experienced, local appraiser to ensure an accurate valuation that satisfies the lender.
Nearby Cities
Explore mortgage lenders in cities near Edgewood, TX
Why Choose a Mortgage Lender in Edgewood?
Local Market Knowledge
Lenders who understand Edgewood'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 Edgewood and get competitive rates on your home loan.