The Best Mortgage Lenders in Plano, TX
Compare verified mortgage lenders serving Plano, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Plano
Featured Mortgage Lenders
Scott St. Clair
CrossCountry Mortgage, LLC - Plano
CrossCountry Mortgage's Plano office, led by Scott St. Clair, maintains exceptional 4.9-star ratings across multiple platforms with nearly 200 reviews. This locally-operated branch combines the resources of a national lender with personalized Texas service. They specialize in competitive rate mortgages for Collin County homebuyers, with particular expertise in conventional loans, VA loans for military families, and jumbo financing for Plano's luxury market. Their team provides comprehensive guidance through the entire mortgage process with strong relationships with local real estate agents.
Loan Types:
Guardian Mortgage Company
Guardian Mortgage Company
Guardian Mortgage has been a Texas-based lender since 1969 with deep roots in the Plano community. With a 4.8-star rating across nearly 300 reviews, they're renowned for their local underwriting and closing expertise. As a direct lender that services most of their loans, they offer exceptional consistency and personalized service. Specializing in both purchase and refinance transactions, they have particular strength in construction lending and renovation loans, making them ideal for North Texas homeowners looking to build or remodel.
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Fairway Independent Mortgage Corporation - Plano
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage's Plano branch maintains outstanding 4.9-star ratings with over 300 verified reviews. Founded in 1996, this employee-owned company has grown to become one of the nation's top mortgage lenders while maintaining strong local presence. The Plano team excels at competitive rate financing with particular expertise in first-time homebuyer programs and jumbo loans for Plano's growing luxury market. Their efficient processing and strong relationships with local real estate professionals make them a top choice for Collin County home financing.
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Frequently Asked Questions
Common questions about mortgage lending in Plano, TX
Are there any special down payment assistance programs for first-time homebuyers in Plano, TX?
Yes, Plano homebuyers can access several programs. The Texas Department of Housing and Community Affairs (TDHCA) offers the My First Texas Home program with competitive rates and down payment assistance. Additionally, the City of Plano itself administers the HOME Investment Partnerships Program, which provides forgivable loans for down payment and closing cost assistance to eligible low-to-moderate income buyers purchasing within the city limits.
How do Plano's property taxes impact my mortgage payment and qualification?
Collin County property taxes are a significant factor, typically ranging from 2.0% to 2.3% of the home's appraised value. Lenders will calculate this into your debt-to-income ratio, which can affect how much home you qualify for. It's crucial to get an accurate tax estimate and consider using a mortgage program that allows for a higher DTI ratio, as your monthly escrow payment for taxes and insurance will be substantial.
What are the current trends for mortgage rates and home prices in Plano's competitive market?
While rates fluctuate nationally, Plano's strong economy and desirable school districts keep demand high, supporting stable-to-rising home prices. In this competitive market, buyers often need to make strong offers, which may include being pre-approved with a local lender who can guarantee a quick closing. Even a slightly higher rate might be worth it to secure a property, with an option to refinance later if rates drop.
Are there specific loan programs popular in Plano for buying newer construction homes?
Absolutely. Many new developments in master-planned communities like Legacy West or in far North Plano work closely with preferred lenders. Builders often offer incentives like closing cost credits if you use their lender. For these purchases, a conventional loan is most common, but it's wise to compare the builder's preferred lender's terms with other local banks or credit unions to ensure you're getting the best deal.
Does Plano's location in a flood zone affect my mortgage requirements?
Most of Plano is not in a high-risk flood zone, but certain areas, particularly near creeks or bodies of water, may require flood insurance as a condition of the mortgage. Your lender will order a flood certification during the process. If insurance is required, it will be added to your monthly escrow payment, so it's a critical cost to investigate before making an offer on a specific property.
Why Choose a Mortgage Lender in Plano?
Local Market Knowledge
Lenders who understand Plano'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 Plano and get competitive rates on your home loan.