The Best Mortgage Lenders in Reagan, TX
Compare verified mortgage lenders serving Reagan, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Reagan
Featured Mortgage Lenders
Prosperity Bank Mortgage Department
Prosperity Bank
Prosperity Bank stands out as a top regional lender serving Reagan and Central Texas with exceptional customer satisfaction ratings. As a Texas-based community bank founded in 1998, they have deep roots in the region and understand local real estate markets. Their mortgage team offers personalized service with competitive rates on all major loan types, including specialized rural lending options suitable for the Reagan area. With multiple branches throughout Central Texas and a reputation for straightforward, transparent lending processes, they consistently receive high marks for making home financing accessible and stress-free for both first-time and experienced homebuyers.
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Extraco Banks Mortgage Division
Extraco Banks
Extraco Banks has been serving Central Texas communities for over a century, making them one of the most established and trusted mortgage lenders in the Reagan area. Their mortgage specialists are known for providing exceptional local service with deep knowledge of rural and small-town property financing. They offer particularly strong construction and land loan programs that are ideal for the Reagan market. With multiple locations throughout the region and a commitment to community banking values, Extraco consistently earns high customer satisfaction ratings for their responsive service, competitive rates, and expertise in Texas rural property lending.
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Guild Mortgage - Waco Branch
Guild Mortgage Company
Guild Mortgage's Waco branch serves the Reagan area with outstanding national resources combined with local expertise. As a dedicated mortgage lender with over 60 years in business, they bring extensive experience and highly competitive loan products to Central Texas homebuyers. Their team specializes in navigating the unique aspects of rural Texas properties while offering one of the widest ranges of loan programs in the industry. Guild consistently receives top ratings for their exceptional customer service, efficient processing, and ability to handle complex financing scenarios. Their strong digital platform combined with personalized local service makes them a preferred choice for buyers throughout the Reagan service area.
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Frequently Asked Questions
Common questions about mortgage lending in Reagan, TX
What are the typical down payment requirements for buying a home in Reagan, TX, given its rural market?
In Reagan's rural market, many lenders offer USDA Rural Development loans, which require **0% down payment** for eligible borrowers and properties. For conventional loans, a 3-5% down payment is common, but local lenders are often familiar with the area's lower median home prices, which can make saving for a down payment more manageable compared to urban Texas markets.
Are there any local or county-specific first-time homebuyer assistance programs available in Reagan?
While Reagan itself does not have a city-specific program, as part of Falls County, buyers may access the **Texas State Affordable Housing Corporation (TSAHC)** programs, which offer down payment assistance and competitive rates. It's also advisable to check with local credit unions, like First National Bank of Central Texas, which may have special products for the community.
How do property taxes in Falls County impact my mortgage payments and affordability in Reagan?
Falls County property tax rates are a significant component of your monthly payment, typically ranging from **1.8% to 2.2%** of the home's appraised value. Your lender will roll these into your escrow payment, so when calculating affordability, factor in that Texas has no state income tax but relies heavily on property taxes, which can be higher than the national average.
What type of property appraisal challenges are unique to buying a home in a small town like Reagan?
Appraisals in Reagan can be challenging due to fewer recent comparable sales ("comps") in the immediate area, which may require appraisers to look at properties in nearby towns like Marlin or Groesbeck. This can sometimes lead to valuation discrepancies, so working with a lender experienced in rural Texas markets is crucial to navigate this process smoothly.
Is homeowner's insurance more expensive for mortgages in Reagan, TX, due to its location?
Insurance costs in Reagan are generally reasonable but can be influenced by the age and condition of homes, which in this historic area may include older structures. While not in a high-risk flood zone, some lenders may still recommend flood insurance due to the proximity to the Brazos River. Shopping with Texas-based insurers familiar with the region can help secure competitive rates.
Why Choose a Mortgage Lender in Reagan?
Local Market Knowledge
Lenders who understand Reagan'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 Reagan and get competitive rates on your home loan.