Texas is truly a place like no other. It’s the 2nd largest state in the U.S. in terms of area and each region has its own vibe and personality. Whether you like urban living, lounging on the beach or prefer a country lifestyle, you can find a home in the Lone Star State. Here’s your guide to the best mortgage lenders in Texas so you get a home just where you want it.
Get a Mortgage in Texas
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The Best Mortgage Lenders in Texas:
You’ll be able to see several options when you purchase or refinance quotes. You’ll see different mortgage types and mortgage terms. A mortgage type refers to whether or not a government agency insures your mortgage. Your mortgage term is the maximum amount of time your mortgage will last. Here are some common mortgage types and terms:
- Conventional: A conventional mortgage is a mortgage that isn’t backed by the federal government. Conventional mortgages usually require higher credit scores than a government-backed mortgage. Planning to make a down payment of less than 20%? You may need to pay for mortgage insurance as well. Mortgage insurance is insurance that protects a lender if a borrower stops paying on a mortgage.
- FHA: Private lenders offer FHA mortgages. The Federal Housing Administration sets the rules for these mortgages and helps insure them. These mortgages have relatively low credit score requirements and you may be able to…