The Best Mortgage Lenders in Texhoma, TX
Compare verified mortgage lenders serving Texhoma, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Texhoma
Featured Mortgage Lenders
Justin Freeman
Benchmark Mortgage
Benchmark Mortgage's Amarillo office serves the Texhoma area with exceptional customer satisfaction ratings. Justin Freeman leads a highly-rated team specializing in both purchase and refinance loans with competitive rates. They are particularly noted for their expertise in VA and USDA rural development loans, making them an excellent choice for the Texhoma region. Their personalized approach and extensive local market knowledge have earned them numerous positive reviews for making the mortgage process smooth and understandable.
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Mortgage Solutions of Texas
Mortgage Solutions of Texas
As a locally-owned mortgage broker serving the Texas Panhandle including Texhoma, Mortgage Solutions of Texas has built a strong reputation for competitive rates and exceptional customer service. They specialize in working with first-time homebuyers and offer comprehensive guidance through the entire mortgage process. Their team has extensive experience with rural properties and agricultural lending, making them particularly well-suited for the Texhoma area market. Multiple reviews highlight their responsiveness and ability to close loans efficiently.
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Happy State Bank Mortgage
Happy State Bank
Happy State Bank has deep roots in the Texas Panhandle and serves the Texhoma area with a comprehensive range of mortgage products. As a community bank with over a century of service, they offer the stability of a traditional bank with personalized local service. Their mortgage team is particularly skilled at construction and land loans, which are common needs in rural areas like Texhoma. Customers consistently praise their local decision-making authority and competitive rates for both conventional and government-backed loans.
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Frequently Asked Questions
Common questions about mortgage lending in Texhoma, TX
Are mortgage rates in Texhoma, TX, typically higher or lower than the national average?
Mortgage rates in Texhoma generally align with or are slightly below the national average due to the area's lower cost of living and stable, rural housing market. However, your specific rate will depend more on your personal credit and down payment. It's advisable to compare offers from both local community banks and larger lenders serving the region.
What local or state programs are available for first-time homebuyers in Texhoma?
First-time homebuyers in Texhoma should explore the Texas Department of Housing and Community Affairs (TDHCA) programs, like the My First Texas Home program, which offers competitive interest rates and down payment assistance. Additionally, the Texoma Council of Governments (TCOG) may have information on local grants or initiatives for residents of Cooke County.
How does the appraisal process work for unique or rural properties in the Texhoma area?
Appraising unique acreage or rural properties in the Texhoma area requires an appraiser familiar with the local land values and well/septic systems common outside city limits. Lenders will often need to use appraisers from nearby Sherman or Gainesville who understand the market, which can sometimes extend the timeline slightly compared to a standard suburban appraisal.
What is the typical down payment required for a home in Texhoma, and are there low-down-payment options?
While a 20% down payment avoids private mortgage insurance (PMI), many buyers in Texhoma utilize conventional loans with 3-5% down or FHA loans with 3.5% down, which are widely available. For qualifying buyers, USDA loans are a popular $0-down option for properties in the eligible rural areas surrounding the city.
Are there specific mortgage considerations for buying a home that straddles the Texas-Oklahoma state line in Texhoma?
Yes, this is a critical local consideration. Properties physically located in Oklahoma (even with a Texhoma, TX address) must follow Oklahoma mortgage laws, taxes, and title processes. It's essential to confirm the exact legal location of the property and work with a lender and title company licensed in the correct state to avoid significant legal and financing complications.
Why Choose a Mortgage Lender in Texhoma?
Local Market Knowledge
Lenders who understand Texhoma'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 Texhoma and get competitive rates on your home loan.