The Best Mortgage Lenders in Marshall, TX
Compare verified mortgage lenders serving Marshall, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Marshall
Featured Mortgage Lenders
Austin Bank
Austin Bank, N.A.
Austin Bank has been a trusted financial institution in Marshall for over a century, offering personalized mortgage services with deep community roots. They are highly rated for their competitive rates, local decision-making, and extensive experience in East Texas home lending. Customers praise their responsive service and wide range of loan options, making them a top choice for homebuyers in the area.
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Benchmark Mortgage
Benchmark Mortgage
Benchmark Mortgage is a highly regarded regional lender with a strong presence in East Texas, serving Marshall with expertise and reliability. Founded in 1992, they boast exceptional customer reviews for their transparent processes, competitive rates, and dedicated loan officers. Their specialization in various loan types and commitment to customer satisfaction make them a preferred option for Marshall residents.
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Supreme Lending
Supreme Lending
Supreme Lending, founded in 1999, is a top-rated mortgage company with a robust service area that includes Marshall, TX. They are renowned for their efficient processing, competitive rates, and excellent customer service, as reflected in hundreds of positive reviews. Their wide array of loan products and strong regional presence ensure reliable and accessible mortgage solutions for homebuyers in the Marshall area.
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Frequently Asked Questions
Common questions about mortgage lending in Marshall, TX
What are the current mortgage rates like in Marshall, TX, and how do they compare to state or national averages?
Mortgage rates in Marshall typically align closely with national averages, but local lenders may offer competitive rates due to the community-focused banking environment. It's common to find slightly lower rates here than in major Texas metros due to lower operational costs for lenders. Always compare offers from local credit unions, like Marshall Federal Credit Union, alongside regional banks for the best deal.
Are there any down payment assistance or first-time homebuyer programs specific to Marshall or Harrison County?
Yes, the Texas Department of Housing and Community Affairs (TDHCA) offers statewide programs like My First Texas Home, which are accessible to Marshall buyers. Additionally, the Harrison County Housing Finance Corporation may periodically issue Mortgage Credit Certificates (MCCs) that provide a federal tax credit for qualified first-time buyers, making homeownership more affordable with the area's median income.
How does the appraisal process work in Marshall, given its historic downtown and varied housing stock?
Appraisals in Marshall require special attention due to the mix of historic homes, newer subdivisions, and rural properties. Lenders will use appraisers familiar with local values, comparing homes within specific neighborhoods like Washington Historic District or newer areas near Wiley College. Unique features of historic homes must be properly valued, which can sometimes require a specialist appraisal.
What should I know about property taxes and insurance when calculating my mortgage payment in Marshall?
Harrison County property taxes are a significant component of your monthly payment, with rates typically around 1.8-2.2% of assessed value. Homeowners insurance in Marshall is generally affordable but can be influenced by the age of the home (especially historic properties) and the need for additional flood insurance in certain low-lying areas near creeks. Your lender will help you set up an escrow account for these costs.
Are USDA Rural Development loans a viable option for buying a home in Marshall, TX?
Absolutely. Most of Marshall and its surrounding areas qualify for USDA loans, which offer 100% financing with no down payment. This is an excellent option for moderate-income buyers looking at homes outside the immediate downtown core. Given Marshall's designation, many buyers can take advantage of this program to purchase in qualifying neighborhoods with competitive, below-market interest rates.
Why Choose a Mortgage Lender in Marshall?
Local Market Knowledge
Lenders who understand Marshall'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 Marshall and get competitive rates on your home loan.