The Best Mortgage Lenders in Ross, TX
Compare verified mortgage lenders serving Ross, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Ross
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a top-rated lender known for its exceptional customer service and competitive rates, with a strong local presence in Central Texas. They specialize in a wide range of loan products and have a reputation for quick closings and personalized service, making them a preferred choice for homebuyers in Ross and the surrounding Waco area. Their high ratings reflect consistent customer satisfaction and reliability.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is highly regarded for its efficient processing and community-focused approach, serving Ross and McLennan County with dedication. They offer a streamlined digital experience alongside local expertise, ensuring competitive rates and flexible loan options. Their strong review scores highlight a track record of transparency and support for both first-time and experienced homebuyers.
Loan Types:
New American Funding
New American Funding
New American Funding stands out for its diverse loan programs and commitment to underserved communities, with a robust presence in Central Texas including Ross. They are praised for competitive rates, educational resources, and bilingual support, contributing to high customer satisfaction. Their longevity and positive reviews demonstrate reliability and adaptability in the mortgage market.
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Frequently Asked Questions
Common questions about mortgage lending in Ross, TX
What are the typical down payment requirements for homes in Ross, TX, given its rural setting?
In Ross, a conventional loan typically requires a 5-20% down payment, but the rural nature of the area can open up special options. For eligible properties, a USDA loan offers 100% financing with no down payment, which is a significant advantage for buyers in this non-metro area. It's important to work with a lender familiar with USDA's specific property eligibility maps for McLennan County.
Are there any local or county-specific first-time homebuyer assistance programs available in Ross?
While Ross itself does not have a city-run program, buyers should explore the "Home of Your Own" program offered by the Waco Community Development Department, which serves McLennan County. This program can provide down payment and closing cost assistance for income-eligible first-time buyers purchasing within the county, including Ross. Additionally, Texas State Affordable Housing Corporation (TSAHC) offers statewide programs with grants for teachers, veterans, and general first-time buyers.
How does the lack of a formal city government in Ross (it's an unincorporated community) affect the mortgage and closing process?
The primary difference is that property taxes are paid directly to McLennan County and the local school district (likely Bosqueville ISD), rather than to a city. Your lender will ensure escrow accounts are set up correctly for these entities. There are also no city-specific inspections or transfer taxes, which can sometimes simplify the closing process compared to incorporated cities.
What should I know about property types and lending considerations for Ross's more rural properties?
Many properties in Ross are on larger lots or may be considered "non-warrantable" if they have unique features like significant acreage, unconventional water/septic systems, or certain outbuildings. This can affect loan eligibility; for example, a standard conforming loan may not apply, and you might need a portfolio loan from a local lender or a specialized rural property loan. Always get a property fully assessed for loan suitability early in the process.
Are mortgage rates in Ross, TX, different from those in nearby Waco?
Mortgage rates are generally set by national and investor markets, so they do not typically vary from Ross to Waco for the same loan product. However, your final rate can be influenced by local lender competition and your specific property appraisal. Working with a lender experienced in the McLennan County rural market can help you navigate any unique underwriting requirements that might indirectly affect your offered rate or terms.
Why Choose a Mortgage Lender in Ross?
Local Market Knowledge
Lenders who understand Ross'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 Ross and get competitive rates on your home loan.