The Best Mortgage Lenders in Milford, TX
Compare verified mortgage lenders serving Milford, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Milford
Featured Mortgage Lenders
Baylor Scott & White Health Credit Union Mortgage Department
Baylor Scott & White Health Credit Union
Baylor Scott & White Health Credit Union is one of the most highly-rated mortgage lenders serving Central Texas, including Ellis County where Milford is located. With exceptional customer satisfaction ratings and deep roots in the region, they offer personalized service and competitive rates. Their mortgage team has extensive experience with rural properties and first-time homebuyer programs, making them an excellent choice for Milford residents seeking local expertise with the stability of an established financial institution.
Loan Types:
First National Bank Texas Mortgage Division
First National Bank Texas
First National Bank Texas has been serving Ellis County communities for over a century, with their Waxahachie location conveniently serving Milford residents. They offer comprehensive mortgage services with local decision-making and personalized attention. Their strong community presence and understanding of the local real estate market make them a trusted choice. Customers consistently praise their responsive service, competitive rates, and smooth closing process.
Loan Types:
Guild Mortgage Company - Dallas/Fort Worth
Guild Mortgage Company
Guild Mortgage is a nationally recognized lender with strong presence throughout Texas, including service to Milford and Ellis County. They are particularly noted for their exceptional customer service and wide range of loan programs, including specialized options for rural properties. With decades of experience and high customer satisfaction ratings, they offer competitive rates and streamlined digital processes while maintaining personal attention throughout the mortgage journey.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Milford, TX
What are typical down payment requirements for homes in Milford, TX, given its rural setting?
While standard down payments of 3-20% are common, Milford's rural character makes USDA loans a popular option, which offer 0% down payment for eligible buyers and properties. Many local lenders are well-versed in these programs due to the area's eligibility. Conventional loans with 3-5% down are also widely available for the area's more affordable home prices.
Are there any local or county-specific first-time homebuyer assistance programs in Milford?
While Milford itself doesn't have a city-run program, Ellis County and the state of Texas offer several options. The Texas Department of Housing and Community Affairs (TDHCA) provides down payment assistance and favorable mortgage rates for first-time buyers, which can be combined with Milford's lower purchase prices for significant leverage.
How does Milford's location within the Dallas-Fort Worth metroplex influence mortgage rates and lender options?
While Milford offers a small-town feel, its proximity to DFW means buyers can easily access a wide network of metro-based lenders and credit unions, often securing competitive rates. However, working with a lender familiar with rural appraisals and Ellis County property types can streamline the process for local purchases.
What unique property considerations should I discuss with my mortgage lender when buying in Milford?
It's crucial to discuss properties with larger lots, agricultural exemptions, or older farmhouses, as these can affect appraisal values and loan eligibility. Lenders familiar with the area will know how to properly assess well and septic systems, which are common, ensuring your loan process accounts for these rural infrastructure elements.
How do property tax rates in Milford and Ellis County impact my mortgage payment and qualification?
Ellis County property tax rates are a significant component of your monthly payment, often higher than the national average. Your lender will calculate these into your debt-to-income ratio; budgeting for an annual tax rate of approximately 2.0-2.4% of the home's assessed value is common, which influences how much home you can afford.
Why Choose a Mortgage Lender in Milford?
Local Market Knowledge
Lenders who understand Milford'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 Milford and get competitive rates on your home loan.