The Best Mortgage Lenders in Panhandle, TX
Compare verified mortgage lenders serving Panhandle, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Panhandle
Featured Mortgage Lenders
Amarillo National Bank Mortgage Team
Amarillo National Bank
As the largest locally-owned bank in the Texas Panhandle, Amarillo National Bank has served the region for over 130 years with deep community roots and exceptional customer service. Their mortgage team offers personalized service with competitive rates and extensive knowledge of the local Panhandle real estate market. They provide a full range of mortgage products with in-house processing and underwriting, ensuring efficient closings and local decision-making. Their longstanding reputation and commitment to the Panhandle community make them a top choice for residential lending.
Loan Types:
Panhandle-Plains Higher Education Authority
Panhandle-Plains Higher Education Authority
Specifically created to serve the Panhandle region, PPHEA has been providing affordable mortgage solutions to Texas Panhandle residents for over 50 years. They specialize in first-time homebuyer programs and down payment assistance, offering some of the most competitive rates and terms in the region. As a nonprofit organization focused exclusively on the Panhandle area, they understand the unique needs of rural and small-town borrowers. Their dedicated mortgage professionals provide exceptional guidance through the entire homebuying process with a commitment to community development.
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Happy State Bank Mortgage Division
Happy State Bank
With deep roots throughout the Texas Panhandle, Happy State Bank has been serving the region for over a century and maintains a strong presence in Panhandle and surrounding communities. Their mortgage division offers comprehensive lending services with local underwriting and decision-making, ensuring quick turnaround times and personalized service. They excel in agricultural and rural property financing while offering competitive conventional and government loan programs. Their commitment to the Panhandle region and extensive experience with local property types makes them a trusted choice for area homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Panhandle, TX
What are the typical down payment requirements for homes in Panhandle, TX, given the lower average home prices?
Due to the more affordable housing market in Panhandle, many buyers can utilize conventional loans with a 3% down payment or FHA loans with 3.5% down. For a home priced around $150,000, this translates to a down payment of $4,500-$5,250, making homeownership very accessible. Local lenders are also familiar with USDA Rural Development loans, which offer 0% down payment options for eligible properties in the area.
Are there specific mortgage programs or grants for first-time homebuyers in Panhandle, TX?
Yes, the Texas Department of Housing and Community Affairs (TDHCA) offers the My First Texas Home program, which provides down payment assistance and competitive mortgage rates, and it is available in Carson County. Additionally, the Panhandle Regional Planning Commission may have local grants or programs; consulting with a mortgage lender familiar with the Texas Panhandle is key to accessing these resources.
How do property taxes in Carson County and Panhandle ISD impact my monthly mortgage payment?
Property taxes in the Texas Panhandle are a significant component of your monthly payment, as Texas has no state income tax. Carson County and Panhandle ISD have combined tax rates that typically range from 1.7% to 2.0% of the home's appraised value. Your lender will escrow these taxes, so a home priced at $200,000 could add $285-$335 per month to your mortgage payment for taxes alone.
What should I know about getting a mortgage for a home with agricultural land or acreage just outside Panhandle city limits?
Financing properties with acreage requires a lender experienced in rural or non-standard properties. While a conventional loan may work for smaller parcels, larger tracts often require a specialized agricultural or rural land loan, potentially through the Farm Credit Bank of Texas or a local community bank. An appraisal that properly values both the home and land is crucial for loan approval.
How does the local economy, heavily tied to agriculture and the nearby Pantex plant, influence mortgage lending in Panhandle?
Lenders view stable employment in agriculture, energy, and at facilities like Pantex favorably. They understand the seasonal nature of some agricultural income and will typically require a two-year history for self-employed borrowers. For Pantex employees or contractors, standard W-2 income documentation applies, and your steady employment can help you secure competitive mortgage rates from lenders familiar with the local job market.
Why Choose a Mortgage Lender in Panhandle?
Local Market Knowledge
Lenders who understand Panhandle'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 Panhandle and get competitive rates on your home loan.