The Best Mortgage Lenders in Silverton, TX
Compare verified mortgage lenders serving Silverton, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Silverton
Featured Mortgage Lenders
Happy State Bank Mortgage
Happy State Bank
Happy State Bank has been serving the Texas Panhandle region for over a century and maintains a strong presence in Silverton and surrounding communities. They offer personalized mortgage services with local underwriting decisions, competitive rates, and deep community involvement. Their mortgage team specializes in agricultural and rural property financing, making them particularly well-suited for Silverton area residents. With multiple branches throughout the region and a reputation for excellent customer service, they provide both convenience and local expertise.
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Benchmark Mortgage
Benchmark Mortgage
Benchmark Mortgage operates throughout Texas with a strong presence in the Panhandle region serving Silverton. They are known for their competitive rates, streamlined digital application process, and exceptional customer service. The company specializes in both purchase and refinance loans with local loan officers who understand the unique needs of rural Texas communities. Their extensive experience with USDA rural development loans makes them an excellent choice for Silverton area homebuyers seeking government-backed financing options.
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PlainsCapital Bank Mortgage
PlainsCapital Bank
PlainsCapital Bank has deep roots in West Texas and serves the Silverton community through their regional banking network. They offer comprehensive mortgage solutions with local decision-making and personalized service. The bank is particularly strong in agricultural and rural property lending, understanding the unique financial needs of smaller Texas communities. Their mortgage specialists provide competitive rates and flexible terms with the stability of a well-established regional financial institution that has been serving Texas for over three decades.
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Frequently Asked Questions
Common questions about mortgage lending in Silverton, TX
Are there any special mortgage considerations for buying a home on the rural outskirts of Silverton versus in town?
Yes, this is a key distinction in Silverton. Properties outside the city limits may be considered rural and could qualify for a USDA loan, which offers 100% financing with no down payment—a significant advantage. However, for homes on larger acreage, some lenders may have stricter appraisal requirements or require a well and septic inspection, which can affect the loan process and timeline.
What are typical down payment assistance programs available for first-time homebuyers in Silverton, Texas?
Silverton homebuyers can access statewide Texas programs like the Texas Department of Housing and Community Affairs (TDHCA) My First Texas Home program, which offers competitive interest rates and down payment assistance. Additionally, the USDA Section 502 Direct Loan program is particularly relevant for low- and very-low-income applicants in the surrounding rural areas of Briscoe County, where Silverton is located.
How does the limited housing inventory in a small town like Silverton affect the mortgage process?
With fewer homes on the market, competition can be swift when a desirable property is listed. It's crucial to get pre-approved—not just pre-qualified—by a lender familiar with the area to make a strong, credible offer. A local lender's appraisal expertise is also vital, as they will better understand how to value unique properties in a market with fewer comparable sales ("comps").
Are mortgage rates in Silverton different from those in larger Texas cities like Amarillo or Lubbock?
The interest rates themselves are generally set by national markets, so they are comparable. However, the availability of certain loan products (like USDA loans) might be more common, and working with a local or regional lender who understands the rural appraisal process can sometimes result in smoother underwriting, which can indirectly affect the overall cost and feasibility of your loan.
What should I know about property taxes and insurance when calculating my mortgage payment in Silverton?
Your total monthly payment will include an escrow for Briscoe County property taxes, which are a significant factor. Texas has no state income tax but relies heavily on property taxes, so it's important to budget for this. Furthermore, due to the rural setting and potential for hail or wind, securing adequate homeowners insurance—which is required by lenders—is essential and should be factored into your payment estimate early in the process.
Why Choose a Mortgage Lender in Silverton?
Local Market Knowledge
Lenders who understand Silverton'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 Silverton and get competitive rates on your home loan.