The Best Mortgage Lenders in Texarkana, TX
Compare verified mortgage lenders serving Texarkana, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Texarkana
Featured Mortgage Lenders
Texarkana Mortgage Team
Texarkana Mortgage Company
Texarkana Mortgage Company stands out as the premier local mortgage lender with deep roots in the community. With over two decades of experience, they've built an exceptional reputation for personalized service and competitive rates. Their team specializes in all major loan programs including specialized VA loans important for the local military community near Red River Army Depot. They consistently receive praise for their transparent process, local underwriting decisions, and commitment to helping borrowers navigate complex mortgage scenarios with ease.
Loan Types:
Mortgage Department
Guaranty Bank & Trust
Guaranty Bank & Trust has been serving the Texarkana community since 2000 with a strong focus on residential mortgage lending. As a locally-owned community bank, they offer the advantage of local decision-making combined with competitive national rates. Their mortgage team excels at construction loans and first-time homebuyer programs, with particular expertise in rural development loans that benefit the surrounding areas. Customers consistently praise their responsive service and the bank's commitment to keeping mortgage processing local rather than outsourcing to distant call centers.
Loan Types:
Mortgage Lending Division
Spirit of Texas Bank
Spirit of Texas Bank brings robust mortgage lending capabilities to the Texarkana market with a focus on relationship banking. While founded in 2008, their mortgage team brings decades of collective experience to the table. They're particularly strong in construction lending and lot loans, making them an excellent choice for custom home builds in the growing Texarkana area. Their local underwriting authority allows for quicker decisions, and customers frequently mention their knowledgeable staff and streamlined closing process in positive reviews.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Texarkana, TX
Are there any special first-time homebuyer programs available specifically for Texarkana, TX?
Yes, the Texas Department of Housing and Community Affairs (TDHCA) offers the My First Texas Home program, which provides down payment assistance and competitive mortgage rates for eligible first-time buyers in Texarkana. Additionally, some local lenders may have partnerships or specific programs tailored to the Texarkana market, so it's wise to ask about city-specific incentives.
How does the unique bi-state nature of Texarkana affect the mortgage and homebuying process?
While the cities are integrated, purchasing a home on the Texas side versus the Arkansas side involves different state laws, property taxes, and potentially different lender requirements. For a Texas-side purchase, you'll deal with Texas homestead laws and potentially higher property taxes but no state income tax, which can influence your debt-to-income ratio calculations.
What are typical property tax rates in Texarkana, TX, and how do they impact my mortgage payment?
Property tax rates in Bowie County (Texarkana, TX) are relatively high compared to the national average, often ranging from 2.0% to 2.5% of the home's appraised value. Lenders will escrow for these taxes, significantly increasing your monthly PITI (Principal, Interest, Taxes, Insurance) payment, so it's a critical factor in budgeting for your home.
Are USDA rural development loans a viable option for homes in Texarkana, TX?
Absolutely. Many areas on the outskirts of Texarkana, Texas, qualify for USDA loans, which offer 100% financing (no down payment). This can be an excellent option for eligible buyers looking in qualifying suburban or more rural parts of the community, making homeownership more accessible.
How competitive is the Texarkana housing market, and how should I prepare my mortgage pre-approval to make a strong offer?
The Texarkana market has been moderately competitive, with steady demand. To stand out, obtain a strong, verified pre-approval (not just a pre-qualification) from a reputable local or national lender. Sellers favor buyers who can demonstrate solid financing, and being prepared to move quickly is key, especially on well-priced homes.
Why Choose a Mortgage Lender in Texarkana?
Local Market Knowledge
Lenders who understand Texarkana'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 Texarkana and get competitive rates on your home loan.