The Best Mortgage Lenders in New Boston, TX
Compare verified mortgage lenders serving New Boston, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in New Boston
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender known for its exceptional customer service and competitive rates, serving the New Boston area through its Texarkana branch. With over 28 years in business, they specialize in a wide range of loan products and have built a strong reputation for reliability and community involvement. Their high ratings and numerous positive reviews highlight their commitment to making the mortgage process smooth and transparent for homebuyers in Northeast Texas.
Loan Types:
Movement Mortgage, LLC
Movement Mortgage, LLC
Movement Mortgage is a highly regarded lender with a strong local presence in the Texarkana area, offering efficient and personalized service to residents of New Boston. Founded in 2008, they are known for their quick loan processing and competitive rates, backed by a team of experienced professionals. Their focus on customer satisfaction and community support has earned them consistently high ratings and a loyal client base in regional markets.
Loan Types:
New American Funding
New American Funding
New American Funding is a reputable mortgage lender serving New Boston and the broader Texarkana region, praised for its diverse loan options and dedicated customer support. With over two decades of experience, they offer tailored solutions for various borrower needs, including first-time homebuyers and refinancing. Their high customer satisfaction scores and extensive review history reflect their reliability and ability to provide competitive rates in the East Texas market.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in New Boston, TX
What are the typical down payment requirements for homes in New Boston, TX, given its market?
While standard loans often require 3-5% down, New Boston's relatively affordable market compared to major Texas metros means buyers can often purchase with lower down payments. Local lenders are familiar with the area's property values and may offer more flexible terms, especially for well-maintained homes in established neighborhoods. It's wise to explore first-time homebuyer programs that can reduce this requirement further.
Are there any local or county-specific down payment assistance programs for New Boston homebuyers?
Yes, Bowie County, where New Boston is located, is served by the Texas State Affordable Housing Corporation (TSAHC). TSAHC offers down payment assistance grants and favorable mortgage rates for qualifying buyers, particularly educators, healthcare workers, and first responders. Additionally, checking with local credit unions like Red River Credit Union can reveal exclusive, community-focused assistance programs.
How do property taxes in Bowie County impact my mortgage payment and qualification in New Boston?
Bowie County property tax rates are a significant component of your monthly payment, often adding 2% or more of the home's value annually. Lenders will factor this into your debt-to-income ratio, which can affect how much you qualify to borrow. It's crucial to get an accurate tax estimate for any property you're considering, as taxes can vary within the city and county.
What type of property inspections or considerations are especially important for securing a mortgage on older homes in New Boston?
New Boston has many charming, older homes. Lenders will require a standard appraisal, but you should strongly consider a separate, thorough inspection for foundational issues (given the regional soil), outdated electrical systems (like knob-and-tube wiring), and the condition of plumbing and roofs. Addressing major issues upfront can prevent loan underwriting delays or denials.
Is it difficult to get a USDA rural development loan in New Boston, TX?
Not at all. New Boston is eligible for USDA Rural Development loans, which offer 100% financing with no down payment. This is a major advantage for the area, as the USDA designates it as "rural." To qualify, you must meet income limits for Bowie County and purchase a home that meets USDA property standards, which many in the area do.
Why Choose a Mortgage Lender in New Boston?
Local Market Knowledge
Lenders who understand New Boston'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 New Boston and get competitive rates on your home loan.