The Best Mortgage Lenders in Tatum, TX
Compare verified mortgage lenders serving Tatum, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Tatum
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender with a strong presence in East Texas, including Tatum. Known for exceptional customer service and competitive rates, they have consistently high ratings due to their personalized approach, extensive loan options, and efficient processing. With nearly three decades of experience, they are a trusted choice for homebuyers in the region, offering both in-person and online services to accommodate diverse needs.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is highly regarded for its customer-centric model and fast closing times, serving Tatum and surrounding areas with a focus on community engagement. They boast strong ratings for their transparent processes, competitive rates, and dedicated local loan officers. Founded in 2008, they have built a reputation for reliability and innovation in mortgage lending, making them a popular choice for East Texas residents.
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Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a national leader in mortgage lending with a strong local presence in East Texas, including Tatum. They are celebrated for their high-tech digital platform, which simplifies the application process, combined with personalized service from experienced advisors. With nearly 24 years in business, they offer competitive rates and a wide range of loan products, earning top ratings for customer satisfaction and efficiency.
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Frequently Asked Questions
Common questions about mortgage lending in Tatum, TX
What are the typical down payment requirements for homes in Tatum, TX, given its rural market?
In Tatum's more affordable market, many conventional loans can be secured with a 5% down payment, and FHA loans with 3.5% down are very common. For properties that may be classified as rural, USDA loans offer 0% down payment options, which are a significant advantage for eligible buyers in the area. Local lenders are well-versed in these programs due to the region's demographics.
Are there any local or county-specific first-time homebuyer assistance programs available in Tatum?
While Tatum itself does not have a city-run program, homebuyers should explore the Texas State Affordable Housing Corporation (TSAHC) programs, which offer down payment assistance and favorable mortgage rates statewide. Additionally, the East Texas Council of Governments (ETCOG) may have resources or guidance for Rusk County residents. Consulting with a local mortgage broker is key to accessing these opportunities.
How does Tatum's location in a USDA-eligible zone benefit mortgage seekers?
Most of the Tatum area qualifies for USDA Rural Development loans, which provide 100% financing (no down payment) for eligible borrowers and properties. This is a major benefit for buyers with moderate incomes looking at homes outside the city center. Interest rates for USDA loans are typically competitive, making homeownership more accessible in this community.
What should I know about property taxes and insurance when calculating my mortgage payment in Tatum?
Rusk County property taxes are a significant component of your monthly payment, with rates typically around 1.5-2.0% of the home's appraised value. Homeowners insurance in this East Texas region should also account for potential wind/hail and storm damage, which can influence premiums. Your lender will use precise local tax rates and insurance estimates to provide an accurate payment calculation.
Are mortgage rates in Tatum different from larger Texas cities like Dallas or Houston?
Mortgage rates are generally set on a national and state level, so rates in Tatum are comparable. However, your final rate can be influenced by local appraiser availability and property types, which may affect processing times. Working with a lender familiar with the Tatum market can streamline the process and potentially help you secure the most competitive regional rates.
Why Choose a Mortgage Lender in Tatum?
Local Market Knowledge
Lenders who understand Tatum'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 Tatum and get competitive rates on your home loan.