The Best Mortgage Lenders in Putnam, TX
Compare verified mortgage lenders serving Putnam, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Putnam
Featured Mortgage Lenders
Member Services
Texas Trust Credit Union
Texas Trust Credit Union is one of the largest and most respected credit unions in North Texas with an exceptional mortgage lending division. While headquartered in Arlington, they serve members throughout Texas including rural areas like Putnam. They consistently receive top ratings for their competitive rates, personalized service, and extensive mortgage options. Their experienced loan officers specialize in helping borrowers in smaller communities navigate the home financing process with local understanding and nationwide lending capabilities.
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Mortgage Department
First National Bank of Albany
First National Bank of Albany has deep roots in West Texas and specializes in serving rural communities like Putnam. As a community bank with over a century of experience, they understand the unique needs of rural property financing and agricultural areas. They offer competitive mortgage products specifically designed for Texas residents, including specialized rural development loans. Their local decision-making process and personalized service make them a top choice for Putnam area homebuyers seeking reliable, community-focused lending.
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Loan Officers
PrimeLending
PrimeLending is a national mortgage lender with strong Texas roots and local presence throughout the state. They have consistently high customer satisfaction ratings and specialize in serving both urban and rural Texas communities. Their local loan officers based in nearby Abilene regularly serve clients in Putnam and surrounding areas, offering competitive rates and a wide range of mortgage products. PrimeLending is particularly noted for their efficient processing, digital mortgage experience, and expertise in Texas property financing.
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Frequently Asked Questions
Common questions about mortgage lending in Putnam, TX
What are the typical down payment requirements for buying a home in Putnam, TX, given its rural market?
In Putnam's rural and more affordable market, many conventional loans are available with down payments as low as 3-5%. For eligible buyers, USDA Rural Development loans offer a significant advantage with 0% down payment, as Putnam qualifies for this program due to its population size and location. Local lenders are familiar with these options and can guide you.
Are there any local or county-specific first-time homebuyer assistance programs available in Putnam?
While Putnam itself does not have a city-run program, Texas State Affordable Housing Corporation (TSAHC) programs are accessible to Putnam residents. These include down payment assistance grants and favorable mortgage rates for first-time buyers who meet income and credit requirements. Consulting with a lender experienced in these statewide programs is key.
How do property taxes in Callahan County impact my mortgage payments in Putnam?
Callahan County property taxes are a significant component of your monthly mortgage escrow payment. While overall tax rates can be higher than national averages, home values in Putnam are relatively low, which can help offset the rate. Your lender will calculate an estimated monthly escrow based on the specific property's assessed value.
Is it difficult to get a mortgage for a manufactured home or a property with land in Putnam?
Financing for manufactured homes on owned land is possible but requires a lender familiar with rural properties; not all lenders offer these loans. For properties with acreage, conventional loans may have limits on the number of acres financed. Local and regional banks or credit unions with agricultural lending experience are often the best resources.
What type of property appraisal challenges are common in Putnam's rural real estate market?
Appraisals in Putnam can be challenging due to a lower volume of comparable home sales ("comps"), especially for unique properties or those on large lots. This can sometimes affect loan approval or value. Using a lender who works with appraisers familiar with the Callahan County area is crucial to ensure a fair and accurate valuation.
Why Choose a Mortgage Lender in Putnam?
Local Market Knowledge
Lenders who understand Putnam'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 Putnam and get competitive rates on your home loan.