The Best Mortgage Lenders in Hico, TX
Compare verified mortgage lenders serving Hico, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Hico
Featured Mortgage Lenders
Texas Republic Bank Mortgage
Texas Republic Bank
Texas Republic Bank is a highly-rated community bank serving Erath County and surrounding areas including Hico. With over two decades of local lending experience, they offer personalized mortgage services with competitive rates. Their local underwriting and decision-making process allows for faster closings and flexible loan options. They're particularly known for their construction and agricultural lending expertise, making them an excellent choice for rural properties in the Hico area.
Loan Types:
First Financial Credit Union Mortgage
First Financial Credit Union
First Financial Credit Union serves multiple counties in North Central Texas, including Erath County where Hico is located. They offer competitive mortgage rates and personalized service with local loan officers who understand the rural Central Texas market. Their first-time homebuyer programs and low-down-payment options make homeownership accessible, while their digital mortgage application process provides convenience for busy borrowers.
Loan Types:
Supreme Lending
Supreme Lending
Supreme Lending has a strong local presence in Stephenville with dedicated mortgage professionals serving the Hico community. As a national mortgage company with local expertise, they combine the resources of a large lender with personalized service. They're known for their efficient processing and wide variety of loan programs, including specialized options for rural properties common in the Hico area. Their team has extensive experience with Texas property types and local market conditions.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Hico, TX
Are there any special mortgage considerations for buying a historic home in Hico, Texas?
Yes, purchasing a home in Hico's historic district or an older property may require specific loan considerations. Lenders might require a more thorough inspection for older construction, and you should budget for potential higher insurance costs. It's advisable to work with a lender experienced in rural and historic properties who understands the unique appraisal challenges in a small town like Hico.
What local or county-level down payment assistance programs are available for Hico homebuyers?
While Hico itself doesn't have a city-specific program, Hamilton County and the state of Texas offer several options. The Texas Department of Housing and Community Affairs (TDHCA) provides down payment assistance and first-time homebuyer programs, which are accessible to Hico residents. Additionally, some local credit unions and community banks may have special programs for buyers in their service area.
How do property tax rates in Hico and Hamilton County affect my mortgage payment and qualification?
Hamilton County has property tax rates that are a significant component of your monthly escrow payment. Lenders will factor these taxes, which are typically higher than the national average, into your debt-to-income ratio. It's crucial to get an accurate estimate of annual taxes from the Hamilton County Appraisal District when determining how much house you can afford in Hico.
Are USDA Rural Development loans a common and good option for buying a home in Hico, TX?
Absolutely. Hico's location and population make most of the area eligible for USDA Rural Development loans, which offer 100% financing with no down payment. This is a popular and advantageous option for Hico homebuyers, as it helps overcome one of the biggest barriers to homeownership in a rural community. You'll need to verify the specific property's eligibility with a lender.
How does Hico's limited housing inventory impact the mortgage pre-approval and buying process?
With a smaller, more competitive market, having a strong mortgage pre-approval from a reputable local or regional lender is critical when making an offer. Sellers in Hico often favor buyers who can demonstrate solid financing from lenders familiar with the area's property values. A quick closing timeline can also be a competitive advantage, so discuss processing speed with your loan officer.
Why Choose a Mortgage Lender in Hico?
Local Market Knowledge
Lenders who understand Hico'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 Hico and get competitive rates on your home loan.