The Best Mortgage Lenders in Melissa, TX
Compare verified mortgage lenders serving Melissa, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Melissa
Featured Mortgage Lenders
Fairway Independent Mortgage
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a top-rated lender known for its exceptional customer service and competitive rates, with a strong local presence in the North Texas area. Serving Melissa and surrounding communities, they offer personalized guidance, a wide range of loan options, and have built a reputation for reliability and high customer satisfaction over nearly three decades.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is highly regarded for its efficient processing and customer-focused approach, with a significant footprint in the DFW metroplex serving Melissa. They provide competitive rates, a variety of loan programs, and are praised for their quick closings and dedicated local team, making them a trusted choice for homebuyers in the region.
Loan Types:
New American Funding
New American Funding, LLC
New American Funding offers a diverse portfolio of loan products and is recognized for its strong customer service and community involvement in Texas. Serving Melissa and the broader DFW area, they focus on providing accessible financing options, including programs for underserved communities, and have a track record of high satisfaction and competitive terms.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Melissa, TX
Are there any special down payment assistance programs for first-time homebuyers in Melissa, TX?
Yes, Melissa homebuyers can access statewide programs like the Texas Department of Housing and Community Affairs (TDHCA) My First Texas Home program, which offers competitive interest rates and down payment assistance. Additionally, local lenders often have relationships with regional programs specific to the North Texas/Collin County area. It's advisable to consult with a mortgage broker familiar with Melissa to identify the best local and state incentives for your situation.
How does Melissa's rapid growth and new construction market affect my mortgage options?
Melissa's status as one of the fastest-growing cities in Texas means many buyers are financing new construction homes. This often involves working with the builder's preferred lender for incentives, but you are not obligated to use them. Be prepared for potential delays in closing due to construction timelines, and consider a rate lock extension if needed. Construction-to-permanent loans are also a common option here for building on your own lot.
What are typical property taxes in Melissa, and how do they impact my mortgage payment?
Property taxes in Melissa (Collin County) are a significant component of your monthly payment, typically ranging from 2.0% to 2.4% of the home's appraised value. This is higher than the national average and must be carefully factored into your debt-to-income ratio. Your lender will collect funds for an escrow account to pay these taxes, so your quoted mortgage payment will include principal, interest, taxes, and insurance (PITI).
Are USDA loans available in Melissa, TX, given its suburban/rural character?
Yes, a significant portion of Melissa still qualifies for USDA Rural Development loans, which offer 100% financing with no down payment. The eligibility is determined by specific census tract maps, and as the city grows, these zones can change. A local mortgage officer can quickly check if your desired property address is in an eligible area, making this a powerful option for eligible buyers in less densely developed parts of Melissa.
How competitive is the mortgage lending environment in Melissa's housing market?
The Melissa market is competitive, often favoring sellers, which means mortgage pre-approval is not just helpful but essential to have your offer taken seriously. Local lenders with a reputation for reliable and fast closings can give you an edge. While rates are set nationally, having a lender who understands the pace of the Collin County market and can offer quick underwriting turnarounds is a key local advantage.
Why Choose a Mortgage Lender in Melissa?
Local Market Knowledge
Lenders who understand Melissa'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 Melissa and get competitive rates on your home loan.