Best Mortgage Lenders in Austin, TX
Mortgages allow Texans to purchase dream homes faster than it would take to save the cash required to buy a home. Homebuyers should consider their credit score, finances and choice of lender before taking out any loans. We put together this list of the best mortgage companies in Austin to help you get a low-interest rate and save money.
Top 12 Austin Mortgage Companies | ||||
|---|---|---|---|---|
| BOK Financial Mortgage | Read 1,669 Reviews | Offers conventional, jumbo, FHA, VA, USDA and Native American home loan programs plus mortgage refinancing. The Lock and Build program is available to finance new home construction. Direct mortgage lender. |  | |
| Mr. Cooper | Read 8,966 Reviews | Offers conventional, FHA, VA and jumbo home loans nationwide. Refinances homes with FHA Streamline and VA IRRRL (interest rate reduction refinance loan). Provides convenient app. No online payment fees. Non-bank mortgage servicer. |  | Toll free number (844) 505-4810 |
| Vanderbilt Mortgage | Read 1,874 Reviews | Specializes in financing for new or used manufactured, modular and mobile homes. Provides conventional, land-home, FHA and biweekly advantage mortgages. Down payments start at 3.5% of the total purchase price. |  | Toll free number (855) 976-1445 |
| ClearPath Lending | Read 838 Reviews | Offers FHA, VA, conventional and jumbo loans for purchase, plus mortgage refinancing options. Lets customers track loan progress via an online portal. Funds most loans within 30 days. |  | Toll free number (855) 980-6844 |
| AmeriSave Mortgage | Read 2,830 Reviews | Provides FHA, VA, USDA and jumbo purchase loans plus cash-out refinancing options. Gives accurate quotes within minutes. Prequalify and close in as little as 25 days. Direct mortgage lender. |  | Toll free number (855) 794-5993 |
| Guild Mortgage Company | Read 129 Reviews | Offers conventional, FHA, USDA, VA and jumbo mortgage loans for purchase and refinancing options. Provides DPA programs, expanded (non-QM), short-term rental refinance and renovation loan programs. |  | |
| Capital City Mortgage | Read Expert Review | Requires a minimum credit score of 500 for homebuying or refinancing. Helps borrowers raise their credit scores as part of its bad credit home loan/special program. Saturday appointments available. |  | |
| Capstar Lending | Read Expert Review | Employs loan officers who average more than 20 years of experience. Stays up to date on underwriting guidelines, government regulations and loan programs. Provides online mortgage calculators so clients know what they can afford. |  | |
| Leaman Team | Read Expert Review | Assists borrowers nationwide. Offers fixed-rate, jumbo, conventional, VA and FHA loans. Specializes in down payment assistance programs, including TSAHC, Austin DPA and Homes for Heroes. |  | |
| PrimeLending Austin | Read Expert Review | Lends to homebuyers and homeowners looking to refinance. Offers home loans, including fixed-rate, adjustable-rate, conventional, jumbo, FHA, VA, USDA and FHA cash-out refinance mortgages. |  | |
| SecurityNational Mortgage Company Austin | Read Expert Review | Offers several loan programs, including conventional mortgage loans, land loans, reverse mortgages, FHA loans, new construction loans, investor loans, USDA/rural home loans, jumbo loans and VA loans. |  | |
| Sente Mortgage Austin | Read Expert Review | Headquartered in Austin. Provides online mortgage calculators and resources for customers. Offers free consultations that customers can schedule online. Guides borrowers through mortgage basics. |  |
Mortgage rates trends in Austin
Austin is home to some of the most expensive real estate in Texas, with many Austin homes costing almost half a million dollars to more than $1 million. Median home prices have increased by 4.93% since 2000.
| Location | Median home price |
|---|---|
| West Lake Hills | $1,368,354 |
| Lost Creek | $929,600 |
| Travis Heights | $475,118 |
| North Loop | $553,049 |
| Triangle State | $601,331 |
How to choose a mortgage loan in Austin
Austin features some of the most expensive real estate in the country, but the city is also full of young, educated people looking to move upwards in their careers. Austin residents exploring wealthy neighborhoods should consider nonconforming or jumbo loans, and first-time homebuyers in Austin should look to government-backed FHA loans.
We sampled some popular Austin neighborhoods to show the best types of mortgage in each:
- Westlake Oaks: This neighborhood may be a good buy for families wanting to be near their children’s schools. The median home cost here is over $760,000, which makes a fixed-rate mortgage a good option, especially when the home has a higher list price than others in the area.
- Hughes Park Lake: This neighborhood is a good option for those looking for a safe, low-crime area. Its median home cost is $594,000, which makes government-backed mortgages like FHA or USDA loans good options.
- River Hills: This neighborhood is a good option for buyers looking for large, comfortable homes in an affluent neighborhood. The median home cost here is almost $1,400,000, which makes jumbo loans a necessity.
- Chestnut: This neighborhood is a good fit for singles and young couples because of its walkability and low crime rate. The median home cost is just shy of $480,000, which makes government-backed loans like FHA or USDA mortgages helpful. Because of their relaxed requirements, these loans suit the needs of singles and low-income buyers.
Finding a mortgage lender in Austin, TX
Outside of low mortgage rates, consider what services mortgage companies offer. You can also gather quotes, read online reviews, get recommendations from friends and educate yourself on how home loans work so that you feel confident choosing a mortgage company.
In Texas, the Department of Savings and Mortgage Lending and the Office of the Consumer Credit Commissioner regulate the mortgage industry. You can look up a lender’s registration through the Nationwide Multistate Licensing System. Likewise, a company that is part of the National Association of Mortgage Brokers must demonstrate a high level of professionalism, so consider that when choosing a lender.
Austin home loan FAQ
- What is the mortgage rate in Austin?
- How do I get preapproved for a mortgage in Austin?
- Getting preapproved for a mortgage in Austin consists of verifying your financial stability through a W-2 form, tax returns and pay stubs.
- Can you put an offer in for a house without a mortgage in Austin?
- You can put an offer in for a house without a mortgage, but we don’t recommend these contingent offers. Getting preapproved before making an offer means there is a greater chance the purchase works out.
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Austin mortgage company information
Leaman Team primarily offers a variety of loans for first-time homebuyers in Austin. Its lending team is available even after closing if you have any questions about your mortgage. Leaman gives mortgages for home purchase, refinance and renovation.
- Address: 3724 Executive Center Drive, Ste.110, Austin, TX 78731
- Phone: (512) 765-4300
- Hours: M - F: 8:30am - 5:30pm
- Website: maxleaman.com
Capstar Lending’s team of loan officers helps customers with many loan options, including conventional, VA and FHA financing. The company is an independent mortgage broker that works with major mortgage investors across the country to offer the lowest mortgage rates. Capstar guides customers through purchasing new homes and refinancing, whether they’re trying to save money or pay off their debt faster.
- Address: 6836 Austin Center Blvd., Austin, TX 78731
- Phone: (512) 459-2400
- Hours: M - F: 8am - 5pm
- Website: capstarlending.com
Sente Mortgage helps customers looking to buy homes or refinance. It also provides consultations and online mortgage tools. The company serves military families and offers refinance loans, VA loans and commercial lending. Sente employs mortgage bankers in each of its 13 locations across Texas.
- Address: 901 S. MoPac Expressway, Bldg. IV, Ste. 125, Austin, TX 78746; Multiple locations
- Phone: (512) 637-9900
- Hours: M - F: 8:30am - 5:30pm
- Website: sentemortgage.com
PrimeLending offers conventional and government-backed loans, including fixed-rate and adjustable mortgages. The company bases rates for purchasing and refinancing on individual loan programs and the size of your down payment. It has five conveniently located offices for Austin residents.
- Address: 1717 W. Sixth St., Ste. 340, Austin, TX 78703; Multiple locations
- Phone: (512) 826-8013
- Hours: M - Sun: 8am - 9pm
- Website: primelending.com
Capital City Mortgage is a mortgage brokerage company that works with more than 50 investors and financial institutions. The lender provides commercial and residential lending services. Capital City offers FHA, VA, USDA, jumbo and reverse mortgages.
- Address: 12731 Research Blvd., Bldg. A, Ste 100, Austin, TX 78759
- Phone: (512) 535 - 5193
- Hours: M - F: 9am - 5pm
- Website: capitalcitymortgagecompany.com
SecurityNational Mortgage Company is an award-winning mortgage lender. The company helps customers buy homes or determine if refinancing is the right decision for them. SecurityNational caters to borrowers nationwide by offering a variety of loan programs, including conventional, government-backed, reverse and jumbo mortgages.
- Address: 9737 Great Hills Trail, Ste. 200 & 222, Austin, TX 78759; Multiple locations
- Phone: (512) 795-5596
- Hours: M - F: 8am - 6pm
- Website: snmc.com
Sandi Pope previously worked in the nonprofit sector as an advocate for environmental and social change and believes information access is a human right. As a member of the ConsumerAffairs Research Team, she seeks to provide consumers with the necessary information needed in making life-altering decisions.
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