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We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. SHARE: Image by Adobe Stock/Illustration by Bankrate January 12, 2022 Suzanne De Vita is the mortgage editor for Bankrate, focusing on mortgage and real estate topics for homebuyers, homeowners, investors and renters. Bankrate logo The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation for how we make money. Bankrate logo The Bankrate promise
Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next. Bankrate follows a strict , so you can trust that we’re putting your interests first. All of our content is authored by and edited by , who ensure everything we publish is objective, accurate and trustworthy. Our mortgage reporters and editors focus on the points consumers care about most — the latest rates, the best lenders, navigating the homebuying process, refinancing your mortgage and more — so you can feel confident when you make decisions as a homebuyer and a homeowner. Bankrate logo Editorial integrity
Bankrate follows a strict , so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. Key Principles
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers. Editorial Independence
Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Bankrate logo How we make money
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Editor’s note: The Bankrate Score considers a mortgage lender’s products and services only; it is not a reflection of a lender’s internal operations or practices. We continuously evaluate each lender we review to ensure the Bankrate Score is consistent with this methodology. If you’d like to consider other lenders, visit Bankrate’s . If you’re looking to buy a home in Texas but aren’t sitting on a Texas-sized pile of cash, you’ll need to find a mortgage lender to help. Although you’re buying a home in The Lone Star State, your lender doesn’t necessarily have to be based there — in fact, many of the lenders that offer the most affordable deals don’t have much of a physical presence in the state. Whether you’re looking to wear your cowboy boots in Amarillo, cheer for the Cowboys in or say howdy to the , how much mortgage you’ll need depends on where you want to call home. Get started with our list of best mortgage lenders in Texas. Methodology
To determine the best mortgage lenders by state, Bankrate evaluated lenders based on several criteria, including affordability (APR, discounts and/or incentives); availability (approval/closing timelines, loan products); and experience (application process, customer service). We also evaluated lenders through the lens of different types of borrowers in Texas using Bankrate’s comparison tool. Best mortgage lenders in Texas
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Loans offered Credit requirements Highlights Good if Purchase and refinance; conventional, jumbo, FHA, VA, USDA, investment property 620-640 for conventional loans Offers e-signature for loan documents and a convenient mobile app; matches down payment savings up to $500; waives lender fees if you ever want to refinance You want to make a small down payment Pros
Fast closings (average of 21 days) Offers a down payment saving matching program that can help you score up to $500 Will issue a lender credit for the $995 origination fee in some cases Cons
Doesn’t appear to work with borrowers who have less-than-perfect credit Does not accept alternative credit data such as rent history when processing loan applications Better com
Loans offered Credit requirements Highlights Good if Purchase and refinance; conventional, jumbo, FHA, bridge loan 620 for conventional loans Preapprovals in as little as three minutes; 24/7 online and phone customer support; doesn’t charge lender fees You’re looking to save on upfront fees Pros
Digital experience makes applying painless Doesn’t ever charge lender fees Automated system can issue a preapproval in as little as three minutes Cons
No VA or USDA loans No home equity lines of credit (HELOCs) or home equity loans Ally Bank
Loans offered Credit requirements Highlights Good if Purchase and refinance; conventional, jumbo 620 for conventional loans; 700 for jumbo loans No lender fees; as little as 10 percent down for jumbo loans You’re looking for a jumbo loan Pros
No lender fees Closings faster than the industry average Lower down payment requirement for jumbo loans than many lenders Cons
No branch locations No government-backed loans offered Interfirst Mortgage Company
Loans offered Credit requirements Highlights Good if Purchase and refinance; conventional, jumbo, investment property 620 for conventional loans No lender fees; preapprovals in one day; easy online application You want to refinance Pros
No lender fees Closings between 30 and 45 days Cons
Doesn’t offer FHA, VA or USDA loans Website doesn’t offer much information Veterans United Home Loans
Loans offered Credit requirements Highlights Good if Purchase and refinance; conventional, jumbo, FHA, VA, USDA 620 for conventional loans and VA loans Three branches in Austin, Killeen and San Antonio; considers non-traditional credit data; 24/7 customer support; free credit counseling services and comprehensive website with everything you need to know about VA loans You’re looking for a VA loan Pros
Will consider non-traditional credit data in your application Specializes in VA loans but also offers other options Three Texas branches Cons
No HELOCs or home equity loans Might charge lender fees 620 credit score required Texas conforming loan limits
As you work toward securing a mortgage, know that your mortgage lender isn’t the only one with requirements in place for approval. The amount you borrow might need to fall under depending on your loan. If it’s a conventional mortgage, the cap is $647,200 — the limit imposed by the Federal Housing Finance Agency in 2022. If it’s backed by the FHA, your budget will need to be smaller. In most counties in Texas, FHA loans cannot exceed $420,680 in 2022. Browse Bankrate’s as you decide where to start looking for a home. Texas first-time homebuyer programs
If you’re a , you might be able to qualify for assistance through the Texas Department of Housing and Community Affairs. The programs through this organization can help you get some of the lowest interest rates and up to 5 percent down payment assistance. Eligibility is based on a few key factors, including your credit score and . In some cases, you could be limited in the lender you can work with, so start your search for a mortgage with the Texas Department of Housing and Community Affairs’ . Don’t limit your search for assistance to the state level, though. Depending on the city where you’re looking to buy, you might be able to find some additional help. For example, the has a down payment and closing cost assistance program that can help you borrow up to $5,000. If you live there for 10 years and meet certain conditions, the loan will be forgiven. Why it pays to shop for a mortgage lender
When , think through what would make for the best deal for your situation. Are you hoping to get into a new home in Texas by rolling your closing costs into the loan, so you avoid paying any out-of-pocket money right now? Do you want to borrow a much bigger pile of cash for a more expensive property? What’s the property going to be used for — your primary residence, or potentially a vacation home that can also earn some rental income when you aren’t there? In addition, think about the overall market. While record-low rates made headlines last year, all signs point to throughout 2022. Once you find an attractive rate, ask your lender to to eliminate the potential of paying more if rates increase. Summary Best mortgage lenders in Texas
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SHARE: Suzanne De Vita is the mortgage editor for Bankrate, focusing on mortgage and real estate topics for homebuyers, homeowners, investors and renters. Related Articles