The Best Mortgage Lenders in Fred, TX
Compare verified mortgage lenders serving Fred, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Fred
Featured Mortgage Lenders
Fairway Independent Mortgage
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a top-rated lender known for its exceptional customer service, competitive rates, and efficient loan processing. With a strong local presence in East Texas, they serve the Fred area through dedicated loan officers who provide personalized guidance. Their reputation for quick closings and extensive loan options makes them a preferred choice for homebuyers in the region.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is highly regarded for its community-focused approach and streamlined digital mortgage experience. They offer a wide range of loan products and have local experts in the Tyler area who serve Fred residents with dedication. Their commitment to transparency and customer satisfaction has earned them numerous positive reviews and a strong regional presence.
Loan Types:
New American Funding
New American Funding
New American Funding is a reputable lender with a focus on diverse loan programs and excellent customer support. They serve the Fred area through their Tyler office, offering competitive rates and flexible terms. Known for their inclusivity and efforts in minority lending, they have built a solid reputation for reliability and high customer satisfaction in East Texas.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Fred, TX
What are the typical down payment requirements for buying a home in Fred, TX, given its rural setting?
In Fred, a conventional loan typically requires a 5-20% down payment, but due to the area's rural designation, you may qualify for a USDA loan, which offers 100% financing with no down payment. This is a major advantage for buyers in Fred, as most of the area is eligible for this program, making homeownership more accessible.
Are there any local or county-specific first-time homebuyer assistance programs available in Fred?
While Fred itself does not have a city-run program, first-time homebuyers in Liberty County should explore the Texas State Affordable Housing Corporation (TSAHC) programs. These offer down payment assistance grants and favorable mortgage rates specifically for Texas residents, which can be a significant help given the moderate incomes common in the area.
How do property taxes in Liberty County impact my monthly mortgage payment in Fred?
Liberty County property taxes are a significant component of your monthly escrow payment, with rates typically around 2.0-2.3% of the home's assessed value. When calculating your total monthly mortgage payment (PITI), you must budget for this, as it can add several hundred dollars compared to just the principal and interest.
Is it difficult to get a mortgage for land or a manufactured home in Fred, TX?
Financing for raw land can be challenging and usually requires a larger down payment (often 20-50%) and a shorter loan term. For manufactured homes, you'll need to ensure it is permanently affixed to a foundation and titled as real property to qualify for conventional or FHA financing; otherwise, you may need a specialized chattel loan.
How does Fred's location in a flood zone affect the mortgage process and requirements?
Many properties in and around Fred are in designated flood zones, requiring mandatory flood insurance as a condition of your mortgage loan. Your lender will order a Flood Zone Determination, and if required, you must secure a policy before closing, adding an ongoing cost to your homeownership expenses.
Why Choose a Mortgage Lender in Fred?
Local Market Knowledge
Lenders who understand Fred'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 Fred and get competitive rates on your home loan.