The Best Mortgage Lenders in Olden, TX
Compare verified mortgage lenders serving Olden, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Olden
Featured Mortgage Lenders
Mortgage Loan Officer Team
First Federal Bank of Texas
First Federal Bank of Texas is a highly-rated community bank with deep roots in Central Texas, serving the Olden area through their McGregor branch just 15 miles away. They maintain exceptional 4.8-star ratings for their personalized mortgage services and local underwriting decisions. As a community bank founded in 1926, they offer competitive rates with the advantage of local decision-making and long-term relationship banking. Their mortgage team specializes in rural property financing and understands the unique needs of Olden area homeowners.
Loan Types:
Mortgage Department
Southside Bank
Southside Bank provides comprehensive mortgage services throughout Central Texas, including the Olden community. With a strong 4.7-star rating and extensive experience in rural and semi-rural property financing, they offer particularly strong USDA and FHA loan programs ideal for the Olden area. Their Waco location serves as a regional hub for surrounding communities, and they're known for competitive rates and exceptional customer service. The bank has been serving Texas communities since 1960 with a focus on building long-term customer relationships.
Loan Types:
Local Mortgage Advisor
Guild Mortgage
Guild Mortgage's Waco branch serves the Olden area with specialized expertise in rural and small community lending. With a national presence since 1960 and strong local representation, they maintain 4.6-star ratings for their extensive loan options and knowledgeable guidance. They're particularly noted for their USDA loan expertise, which is highly relevant for Olden residents, and offer competitive construction and renovation loan programs. Their local team understands the Central Texas market dynamics and provides personalized service throughout the mortgage process.
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Frequently Asked Questions
Common questions about mortgage lending in Olden, TX
What are the typical down payment requirements for homes in Olden, TX, given its rural setting?
For the more affordable homes in Olden, many conventional loans can be obtained with a 3% down payment. However, due to the prevalence of rural properties, some lenders may require a higher down payment (5-10%) if the property includes significant acreage or unique features not typical of suburban homes. USDA loans, which offer 0% down, are also a popular option here for eligible borrowers and properties.
Are there any local or county-specific first-time homebuyer assistance programs available in Comanche County for Olden residents?
While Olden itself does not have a city-run program, homebuyers should explore the Texas State Affordable Housing Corporation (TSAHC) programs, which offer down payment assistance and favorable loan terms statewide. Additionally, it's worth checking with local credit unions in nearby Stephenville or Comanche, as they sometimes have special programs or grants for first-time buyers in the county.
How does the appraisal process work for a rural property in Olden, and what unique challenges might arise?
Appraising rural properties in Olden can be more complex than in urban areas. Challenges include finding comparable sales ("comps") for homes on large lots or with outbuildings, and assessing the value of a well and septic system versus city utilities. It's crucial to work with a lender experienced in rural mortgages who uses appraisers familiar with the Comanche County market to avoid delays.
What type of mortgage insurance should I expect if I put less than 20% down on an Olden home?
For conventional loans, you will pay Private Mortgage Insurance (PMI). For FHA loans, you'll pay both an upfront and an annual Mortgage Insurance Premium (MIP). A key advantage for eligible buyers is the USDA loan, which charges an upfront guarantee fee and an annual fee, but these are typically lower than conventional PMI rates, making it a cost-effective choice for this area.
How do property taxes in Comanche County impact my mortgage payments and affordability in Olden?
Comanche County has a relatively moderate property tax rate compared to major Texas metros, but taxes are still a significant part of your monthly payment. Your lender will escrow for these taxes, and it's important to budget accurately. Be sure to ask if the property has any agricultural exemptions, as this can substantially lower the tax burden for qualifying rural land.
Why Choose a Mortgage Lender in Olden?
Local Market Knowledge
Lenders who understand Olden'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 Olden and get competitive rates on your home loan.