The Best Mortgage Lenders in Sheridan, TX
Compare verified mortgage lenders serving Sheridan, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Sheridan
Featured Mortgage Lenders
Guild Mortgage
Guild Mortgage Company
Guild Mortgage is a highly-rated national lender with strong Texas presence, consistently earning top marks for customer satisfaction and offering a comprehensive range of mortgage products. Their experienced loan officers specialize in both purchase and refinance transactions, with particular expertise in VA and FHA loans. The company maintains an A+ BBB rating and has received numerous industry awards for their exceptional service and competitive rates, making them a trusted choice for Sheridan area homebuyers.
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TDECU
Texas Dow Employees Credit Union
As one of Texas's largest credit unions, TDECU offers exceptional mortgage services with competitive rates and personalized attention. They have extensive experience serving the broader Houston metropolitan area including Sheridan, with a reputation for transparent pricing and local decision-making. TDECU consistently receives high marks for their member-focused approach, offering special benefits for first-time homebuyers and maintaining strong community relationships throughout the region.
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Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage has built an outstanding reputation in the Houston metropolitan area with exceptional customer service ratings and competitive loan products. Their local team has deep knowledge of the Sheridan market and surrounding communities, offering personalized mortgage solutions with efficient processing. The company is renowned for their quick closing times and excellent communication throughout the loan process, earning them numerous industry awards and consistently high customer satisfaction scores.
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Frequently Asked Questions
Common questions about mortgage lending in Sheridan, TX
What are the typical down payment requirements for homes in Sheridan, TX, given its rural market?
In Sheridan's rural market, many lenders offer USDA loans, which require **0% down payment** for eligible buyers and properties. For conventional loans, a 3-5% down payment is common, but local lenders often work with buyers on FHA loans (3.5% down) due to the area's moderate home prices. It's advisable to consult a local mortgage broker familiar with Fannin County's property types.
Are there any local or county-specific first-time homebuyer assistance programs available in Sheridan?
While Sheridan itself doesn't have a city program, eligible buyers in Fannin County can access the **Texas State Affordable Housing Corporation (TSAHC)** down payment assistance grants. Additionally, the USDA's Section 502 Direct Loan Program is particularly relevant for low-income buyers in this rural area, offering subsidized rates and payment assistance.
How do property taxes in Fannin County impact mortgage payments and affordability in Sheridan?
Fannin County has a relatively high property tax rate (approximately 1.8-2.0%), which significantly affects your total monthly payment. When getting pre-approved, lenders will calculate your debt-to-income ratio including these taxes, so it's crucial to budget for them. Many local lenders are experienced in accurately estimating these costs for homes in the Sheridan school district.
What special considerations should I be aware of when getting a mortgage for acreage or a farmette in Sheridan?
Financing properties with significant acreage (typically over 10 acres) in Sheridan often requires a **rural or agricultural loan** product rather than a standard residential mortgage. Lenders will require a detailed appraisal that considers land value and potential income. It's best to work with a regional bank or lender in North Texas that specializes in rural property financing.
How does Sheridan's location in a USDA-eligible zone benefit mortgage seekers?
Virtually all of Sheridan is designated **USDA-eligible**, allowing buyers to utilize USDA Rural Development loans, which offer 100% financing with no down payment and competitive, often below-market, interest rates. This is a major advantage for qualifying buyers, as it makes homeownership more accessible in a community where incomes may be lower than in metropolitan areas.
Why Choose a Mortgage Lender in Sheridan?
Local Market Knowledge
Lenders who understand Sheridan'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 Sheridan and get competitive rates on your home loan.