By Mortgage lenders are financial institutions that provide funding for the purchase of real estate. They can be banks, credit unions, or private companies. Some of the best mortgage lenders in Texas include USAA, BBVA Compass, and J.G. Wentworth. Mortgage lenders typically require borrowers to put down a percentage of the purchase price as a down payment and also pay closing costs. In exchange, the lender provides the borrower with a loan for the remaining balance of the purchase price. The loan is secured by the property itself, which means that if the borrower defaults on the loan, the lender can foreclose on the property and sell it to recoup its losses. Mortgage loans are typically repaid over a period of 15-30 years, depending on the terms of the loan agreement. Interest rates on mortgage loans are typically lower than those on other types of loans, such as credit cards or personal loans. This is because mortgage loans are considered to be less risky for lenders since they are backed by collateral – the property itself. For this reason, it is important to shop around and compare offers from different lenders before choosing a mortgage loan.
We’ve compiled a list of the top 5 mortgage lenders in the state, based on a number of factors, including customer satisfaction, loan options, and customer service.
1. BB&T Mortgage: Best Overall
BB&T Mortgage is one of the largest and most well-established mortgage lenders in Texas. They offer a wide range of loan products, including fixed-rate and adjustable-rate mortgages, as well as FHA and VA loans. They also have a strong online presence, with a user-friendly website and convenient online application process.
2. Chase Mortgage: Best for Customer Service
Chase Mortgage is one of the largest banks in the country and offers a full range of mortgage products, including fixed-rate and adjustable-rate mortgages, as well as FHA and VA loans. They have an extensive branch network across Texas, so you can always speak to someone in person if you need help with your loan application or have questions about your loan.
3. Wells Fargo Mortgage: Best for Loan Options
Wells Fargo Mortgage is one of the largest mortgage lenders in the country and offers a wide range of loan options, including fixed-rate and adjustable-rate mortgages, as well as FHA and VA loans. You can apply for a loan online or in person at one of their many branches across Texas.
4. Quicken Loans: Best for Refinancing
Quicken Loans is one of the largest online mortgage lenders and offers a wide range of loan products, including fixed-rate and adjustable-rate mortgages, as well as FHA and VA loans. They also have a convenient online application process and offer competitive rates.
5. USAA Mortgage: Best for Military Members
USAA Mortgage is a great option for military members and their families, as they offer special discounts and rates on their mortgage products. They offer a wide range of loan options, including fixed-rate and adjustable-rate mortgages, as well as FHA and VA loans. You can apply for a loan online or over the phone.
6. Guild Mortgage: Best for First – Time Homebuyers
Guild Mortgage is a great option for first-time homebuyers, as they offer a variety of loan products and programs to help you get into your first home. They offer fixed-rate and adjustable-rate mortgages, as well as FHA and VA loans. You can apply for a loan online or in person at one of their many branches across Texas.
Now that you know more about the best mortgage lenders in Texas, you can start shopping around for the best deal on your loan. Be sure to compare rates, fees, and loan terms before you choose a lender. And if you have any questions, be sure to ask a loan officer for help.
