The Best Mortgage Lenders in Frisco, TX
Compare verified mortgage lenders serving Frisco, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Frisco
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated mortgage lender with a strong presence in Frisco, known for its innovative technology and competitive rates. With over 24 years of experience, they excel in customer satisfaction, offering a wide range of loan options and personalized service. Their local office in Frisco ensures dedicated support for homebuyers, backed by high ratings for transparency and efficiency in the mortgage process.
Loan Types:
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is highly regarded in Frisco for its exceptional customer service and community involvement. With nearly three decades of experience, they provide competitive rates and a variety of loan products, including specialized programs for first-time homebuyers. Their local team is praised for responsiveness and expertise, making them a trusted choice for mortgages in the North Texas area.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage stands out in Frisco for its fast processing times and commitment to customer satisfaction. Founded in 2008, they have built a reputation for offering competitive rates and a streamlined application process. Their local presence ensures personalized support, and they are known for philanthropy and community engagement, making them a reliable option for home loans in the region.
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Frequently Asked Questions
Common questions about mortgage lending in Frisco, TX
What are the typical down payment requirements for homes in Frisco, TX, given the higher-than-average home prices?
While 20% down is ideal to avoid private mortgage insurance (PMI), many Frisco buyers utilize conventional loans with down payments as low as 3-5% or FHA loans with 3.5% down. Given the competitive market, a stronger down payment can make your offer more attractive, but local lenders are well-versed in low-down-payment options to help buyers enter this sought-after market.
Are there any special mortgage or down payment assistance programs for first-time homebuyers in Frisco?
Yes, the Texas Department of Housing and Community Affairs (TDHCA) offers programs like the Texas Homebuyer Program and My First Texas Home, which provide down payment assistance and competitive interest rates for eligible first-time buyers in Frisco. Additionally, the Frisco Housing Finance Corporation occasionally issues Mortgage Revenue Bonds to provide below-market rate loans; checking with a local mortgage broker is key to accessing these city-specific opportunities.
How do Frisco's property taxes impact my mortgage payment and qualification?
Frisco is located within Collin and Denton counties, which have some of the highest effective property tax rates in Texas (often above 2%). Lenders will calculate this into your debt-to-income ratio, and your monthly escrow payment will be significantly higher than national averages. It's crucial to get a precise tax estimate when budgeting, as it can add hundreds to your monthly payment compared to other states.
With Frisco's rapid growth and new construction, are there specific mortgage considerations for buying a new build?
Absolutely. Many builders in master-planned communities like Fields, Newman Village, or Starwood have preferred lenders who may offer incentives like closing cost credits. However, it's wise to get an independent mortgage pre-approval to compare rates. Also, note that construction timelines can affect your rate lock period, so discuss extended locks or float-down options with your lender.
What type of mortgage rate trends should Frisco buyers expect compared to national averages?
Mortgage rates in Frisco generally align with national averages, but local competition among lenders can lead to slight variations. Due to Frisco's strong economy and desirable school district (Frisco ISD), the housing market remains resilient, which can keep demand for purchase loans steady. Working with a lender familiar with the North Texas market can help you navigate timing and secure competitive terms.
Why Choose a Mortgage Lender in Frisco?
Local Market Knowledge
Lenders who understand Frisco'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 Frisco and get competitive rates on your home loan.