The Best Mortgage Lenders in Southlake, TX
Compare verified mortgage lenders serving Southlake, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Southlake
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated national mortgage lender with a strong local presence in Southlake, known for its innovative digital platform and competitive rates. With over 20 years of experience, they excel in customer service, offering a wide range of loan products and streamlined processes. Their Southlake office provides personalized assistance, high customer satisfaction, and efficient closings, making them a preferred choice for homebuyers in the area.
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Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is highly regarded for its exceptional customer service and extensive loan options, serving Southlake from its nearby Grapevine branch. With nearly three decades of experience, they have a reputation for fast closings, personalized attention, and competitive rates. Their local experts are dedicated to guiding clients through the mortgage process with reliability and high satisfaction ratings.
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Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is known for its community-focused approach and efficient loan processing, with a strong presence in the DFW metroplex serving Southlake. Founded over 15 years ago, they offer a variety of mortgage products and prioritize customer satisfaction with fast turnaround times and local expertise. Their commitment to reliability and competitive rates makes them a trusted lender in the region.
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Frequently Asked Questions
Common questions about mortgage lending in Southlake, TX
Are mortgage rates in Southlake, TX, typically higher than the national average?
Yes, due to Southlake's high property values and its status as a premier suburb in the Dallas-Fort Worth metroplex, jumbo loans are very common. Rates for jumbo loans can sometimes be slightly higher than conforming loan rates. However, competitive lenders in the area often offer attractive terms for well-qualified buyers in this market.
What local or state programs can help with a down payment for a home in Southlake?
While Southlake's home prices often exceed the limits for many first-time buyer programs, Texas statewide programs like the Texas Department of Housing and Community Affairs (TDHCA) offer down payment assistance and favorable rates. For Southlake, buyers should specifically consult with lenders about the TDHCA's My First Texas Home program, though income and purchase price limits may be a factor.
How does Southlake's property tax rate impact my mortgage qualification and monthly payment?
Southlake, located in Tarrant and Denton counties, has a combined property tax rate that is notably higher than the national average (often around 2.1-2.3%). Lenders will factor this significant escrow payment into your debt-to-income ratio, which can reduce your purchasing power. It's crucial to budget for this when determining how much house you can afford in Southlake.
Are there specific lenders or banks in Southlake that have expertise with the local high-value market?
Absolutely. Many national banks, local community banks, and mortgage brokers in the Southlake area have specialized divisions for jumbo and luxury lending. It's beneficial to work with a lender familiar with the Carroll Independent School District appraisal process and the nuances of Southlake's exclusive neighborhoods, as they can provide more accurate and efficient service.
What is a typical down payment expectation for a home in Southlake's competitive market?
Given the high average home price, a 20% down payment is standard to avoid private mortgage insurance (PMI) on a conventional loan. For jumbo loans, which are common for properties over $1.1 million, lenders often require 10-20% down, and sometimes more. Strong offers in Southlake's competitive market frequently include higher down payments to demonstrate buyer credibility.
Why Choose a Mortgage Lender in Southlake?
Local Market Knowledge
Lenders who understand Southlake'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 Southlake and get competitive rates on your home loan.