The Best Mortgage Lenders in Frankston, TX
Compare verified mortgage lenders serving Frankston, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Frankston
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender with a strong presence in East Texas, including service to Frankston. Known for exceptional customer service and competitive rates, they have consistently high ratings from borrowers for their streamlined processes and personalized guidance. With over 28 years in the industry, they offer a wide range of loan options and have a reputation for reliability and transparency in the mortgage process.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a highly regarded lender serving Frankston and the broader East Texas region, praised for its fast closings and community-focused approach. With a 4.7 rating from numerous customer reviews, they excel in providing tailored mortgage solutions and excellent support throughout the homebuying journey. Their 16 years of experience and commitment to local service make them a trusted choice for competitive rates and efficient lending.
Loan Types:
Caliber Home Loans
Caliber Home Loans, Inc.
Caliber Home Loans is a reputable national lender with a strong local presence in East Texas, offering reliable mortgage services to Frankston residents. Boasting a 4.6 rating, they are known for their flexible loan options, competitive rates, and dedicated customer care. With 16 years in business, they have built a solid track record for handling complex loans and providing smooth, transparent experiences for homebuyers and refinancers alike.
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Frequently Asked Questions
Common questions about mortgage lending in Frankston, TX
What are the current mortgage rates like in Frankston, TX, and how do they compare to state or national averages?
Mortgage rates in Frankston typically align closely with national averages, but local lenders may offer competitive terms due to the smaller market. It's common to see rates slightly lower than in major Texas metros like Dallas or Houston, but shopping around with local credit unions like Austin Bank or regional lenders is key to securing the best deal for your specific financial profile.
Are there any down payment assistance programs specifically for Frankston homebuyers?
Yes, Frankston homebuyers can access statewide programs like the Texas Department of Housing and Community Affairs (TDHCA) My First Texas Home program, which offers down payment assistance and competitive interest rates. Additionally, the USDA Rural Development loan is a popular option in Frankston, as much of the area qualifies for its 0% down payment requirement, making homeownership more accessible.
How does Frankston's rural location impact the home appraisal and mortgage process?
Frankston's rural setting can mean appraisals take slightly longer, as appraisers may need to travel from larger cities like Tyler or Palestine. Comparable sales ("comps") might be less frequent, which can sometimes affect valuation. Lenders familiar with Anderson County are crucial, as they understand how to properly evaluate properties on well water, septic systems, and larger land parcels common in the area.
What should I know about property taxes and insurance when budgeting for a mortgage in Frankston?
Property taxes in Anderson County, where Frankston is located, are a significant part of your monthly payment, with rates typically around 1.7-2.0% of the home's appraised value. Homeowners insurance is also a key factor, and lenders will require coverage that includes wind/hail protection, which can be higher in East Texas. Be sure to get local quotes to accurately estimate your total monthly obligation.
Are there any local credit unions or banks in Frankston that offer special mortgage programs for residents?
Local institutions like Austin Bank, which has a strong presence in Frankston, often offer personalized service and may have special programs for first-time buyers or relationship discounts for existing customers. It's also worth checking with Peoples Bank in nearby Palestine, as they may offer community-focused loan products with flexible underwriting for Frankston-area borrowers.
Why Choose a Mortgage Lender in Frankston?
Local Market Knowledge
Lenders who understand Frankston'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 Frankston and get competitive rates on your home loan.