The Best Mortgage Lenders in Tioga, TX
Compare verified mortgage lenders serving Tioga, Texas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Tioga
Featured Mortgage Lenders
Texans Credit Union Mortgage Department
Texans Credit Union
Texans Credit Union stands out as one of North Texas's most respected mortgage lenders with strong community banking roots and extensive experience serving the entire DFW metroplex including smaller communities like Tioga. They offer highly competitive rates with personalized service through local loan officers who understand rural property financing. Their digital mortgage platform combines modern convenience with the personal touch of community banking, and they consistently receive top marks for customer satisfaction and transparent lending practices.
Loan Types:
First United Bank Mortgage Team
First United Bank
First United Bank has deep roots in North Texas communities and maintains a strong presence throughout the region serving Tioga and surrounding areas. They specialize in rural and semi-rural property financing with expertise in land loans and construction lending that's particularly valuable for Tioga homebuyers. Their local loan officers provide personalized service with quick decision-making, and they're known for their community involvement and understanding of local real estate markets.
Loan Types:
Prosperity Home Mortgage LLC
Prosperity Home Mortgage, LLC
Prosperity Home Mortgage maintains a strong Texas presence with dedicated loan officers serving the North Texas region including Tioga. They offer a comprehensive range of mortgage products with particularly strong digital tools that streamline the application process for rural homebuyers. Their reputation for competitive rates and efficient closing processes makes them a popular choice, and they receive consistent praise for their responsive communication and ability to handle unique property situations common in smaller Texas communities.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Tioga, TX
What are typical down payment requirements for homes in Tioga, TX, given its rural setting?
For most conventional loans in Tioga, a 20% down payment is standard to avoid private mortgage insurance (PMI). However, due to the area's rural designation, you may qualify for a USDA loan, which requires **0% down payment** for eligible borrowers and properties. FHA loans with 3.5% down are also common, especially for first-time buyers looking at more affordable properties in the area.
Are there any local or county-specific first-time homebuyer assistance programs available in Tioga?
While Tioga itself does not have a city-run program, Grayson County and the state of Texas offer several options. The Texas Department of Housing and Community Affairs (TDHCA) provides down payment assistance grants and affordable first-lien mortgages through its My First Texas Home program, which is accessible to Tioga residents who meet income and purchase price limits.
How does Tioga's location in a "rural" area affect my mortgage options?
Tioga's official rural classification opens up access to **USDA Rural Development loans**, a significant advantage for eligible buyers seeking no-down-payment financing. This classification can also sometimes mean appraisals may consider different comparable properties than in urban centers, focusing more on land value and similar rural homes in Cooke or Grayson counties.
What should I know about property taxes and insurance when calculating my mortgage payment in Tioga?
Your total monthly payment will include Grayson County property taxes, which are a significant component. Texas has no state income tax but relatively higher property taxes; rates in Grayson County are approximately 2.0-2.3%. You should also budget for homeowners insurance, which may include coverage for wind/hail common in North Texas, and potentially flood insurance if the property is in a designated zone near creeks.
Are jumbo loans common in Tioga, given its mix of modest homes and larger rural properties?
Jumbo loans (exceeding $766,550 in 2024) are not typical for the majority of Tioga's housing market, where median prices are well below this threshold. However, for larger luxury or acreage properties, jumbo loans may be needed and are available through lenders familiar with the North Texas market. These loans often require stronger credit scores, lower debt-to-income ratios, and more reserves than conforming loans.
Why Choose a Mortgage Lender in Tioga?
Local Market Knowledge
Lenders who understand Tioga'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 Tioga and get competitive rates on your home loan.