The Best Mortgage Lenders in Plum, TX
Compare verified mortgage lenders serving Plum, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Plum
Featured Mortgage Lenders
CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage is a highly-rated national lender with strong presence in the Dallas-Fort Worth metroplex serving the Plum area. They maintain exceptional 4.9-star ratings across multiple platforms with hundreds of positive reviews highlighting their competitive rates, personalized service, and efficient closing processes. Their extensive loan portfolio and local expertise make them a top choice for Plum residents seeking conventional, government-backed, or specialized mortgage products with outstanding customer service.
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Guild Mortgage
Guild Mortgage Company
Guild Mortgage has built an excellent reputation in North Texas with consistent 4.8-star ratings and hundreds of positive customer reviews. They specialize in serving both urban and rural communities like Plum, offering unique programs including renovation loans and construction-to-permanent financing. Their local loan officers have deep knowledge of the Ellis County market and are praised for their responsive communication and ability to handle complex loan scenarios efficiently.
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Texans Credit Union
Texans Credit Union
As one of Texas's largest credit unions, Texans Credit Union brings decades of mortgage lending expertise to the Plum area with outstanding 4.7-star ratings. They offer competitive rates for members and non-members alike, with particular strength in first-time homebuyer programs and VA loans. Their local presence and community-focused approach, combined with their not-for-profit structure, often results in lower fees and more personalized service than traditional banks, making them a trusted choice for Ellis County homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Plum, TX
What are the typical down payment requirements for homes in Plum, TX, given its rural setting?
In Plum's more rural market, many lenders still offer conventional loans with a standard 20% down payment to avoid PMI. However, USDA loans are a popular and relevant option here, as much of the area qualifies for this zero-down-payment program aimed at rural homebuyers. FHA loans with 3.5% down are also commonly used, especially for first-time buyers or those with lower credit scores.
Are there any local or county-specific first-time homebuyer assistance programs available in Plum, TX?
While Plum itself does not have a city-run program, homebuyers should explore the Bastrop County First-Time Homebuyer Program, which may offer down payment and closing cost assistance. Additionally, the Texas Department of Housing and Community Affairs (TDHCA) offers statewide programs like My First Texas Home, which provide competitive mortgage rates and down payment assistance that are accessible to eligible buyers in Plum.
How does the lack of city infrastructure in unincorporated Plum affect the mortgage process, like appraisals and insurance?
The rural nature of Plum means appraisals must carefully consider the value of well and septic systems, as there is no municipal water or sewer. This can sometimes lead to more complex appraisal conditions. Furthermore, you will need to secure private flood insurance if the property is in a flood zone, as it's not part of a city's flood control system, which can be an additional cost to factor into your budget.
What type of property issues are common in Plum mortgage inspections that could delay closing?
Due to the age and rural character of many properties, common issues include outdated or malfunctioning septic systems and water wells that fail to meet current flow standards. Lenders will require these systems to be inspected and in good working order. Additionally, properties with significant acreage may have boundary or easement issues that need to be cleared before a loan can be approved.
Are mortgage rates in Plum, TX, typically higher than in nearby cities like Austin due to its rural location?
Mortgage rates are primarily set by national markets and your personal credit profile, not your specific town. However, some lenders may have slightly different fee structures or fewer local branches serving Plum, which could indirectly affect costs. It's especially important to shop around with both local community banks familiar with the area and larger online lenders to ensure you get the most competitive rate.
Why Choose a Mortgage Lender in Plum?
Local Market Knowledge
Lenders who understand Plum'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 Plum and get competitive rates on your home loan.