The Best Mortgage Lenders in Fabens, TX
Compare verified mortgage lenders serving Fabens, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Fabens
Featured Mortgage Lenders
Mortgage Solutions Team
GVC Mortgage
GVC Mortgage is one of El Paso's highest-rated mortgage lenders with exceptional customer satisfaction ratings. They specialize in serving the entire El Paso County region including Fabens, with particular expertise in VA loans and first-time homebuyer programs. Their bilingual team provides personalized service and competitive rates, with a reputation for smooth closings and excellent communication throughout the loan process.
Loan Types:
Home Lending Advisors
FirstLight Federal Credit Union
FirstLight Federal Credit Union is a highly-regarded local financial institution serving Fabens and all of El Paso County. As a credit union, they offer competitive mortgage rates and personalized service to members. They have strong community ties and specialize in helping borrowers with various financial backgrounds, including those in rural areas like Fabens. Their mortgage team is known for exceptional customer service and flexible lending solutions.
Loan Types:
El Paso Mortgage Division
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a nationally recognized lender with a strong local presence in El Paso serving the Fabens area. They offer a wide range of mortgage products with competitive rates and have built a reputation for reliability and excellent customer service. Their local team understands the unique aspects of the El Paso County housing market and provides comprehensive guidance through the entire mortgage process, from application to closing.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Fabens, TX
What are the typical down payment requirements for homes in Fabens, TX?
For most conventional loans in Fabens, a 3-5% down payment is common, but many local lenders are familiar with USDA Rural Development loans, which require 0% down. This is a key advantage for Fabens, as the entire area is eligible for USDA financing, making homeownership more accessible given the area's moderate income levels.
Are there any special first-time homebuyer programs available specifically for Fabens residents?
Yes, the Texas State Affordable Housing Corporation (TSAHC) offers down payment assistance grants and favorable mortgage rates for eligible first-time buyers in Fabens. Additionally, the El Paso County Community Services Department may have local programs. Working with a lender experienced in these Texas-specific programs is crucial to navigate the options.
How do property taxes in Fabens impact my monthly mortgage payment?
Fabens is in El Paso County, which has a relatively high property tax rate compared to national averages. Your lender will calculate an escrow payment for taxes as part of your monthly mortgage, which can significantly increase your total payment. It's essential to get a precise tax estimate for any property, as rates can vary.
What type of property appraisal challenges are common in the Fabens area?
Appraisals in Fabens can sometimes be challenging due to the mix of older homes, rural properties, and newer developments. Finding comparable sales ("comps") in a small, rural market may require an appraiser with local expertise. This can occasionally affect loan-to-value calculations, so using a lender with strong local appraiser relationships is beneficial.
Is homeowner's insurance more expensive for mortgages in Fabens, and why?
Insurance costs in Fabens can be higher than the national average due to the region's exposure to extreme heat, dust storms, and potential for hail. Lenders will require adequate coverage, and this insurance premium will be included in your monthly escrow payment. It's wise to shop around with insurers familiar with West Texas risks.
Why Choose a Mortgage Lender in Fabens?
Local Market Knowledge
Lenders who understand Fabens'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 Fabens and get competitive rates on your home loan.