Austin Mortgage Lenders

Susan Kelly

Jan 18, 2023

In addition to serving as the capital of Texas, Austin is also home to the University of Texas. It should come as no surprise that the city is expanding at a fast rate. The ever-increasing population necessitates the provision of living spaces, and many mortgage businesses are engaged in fierce competition to assist Austin homebuyers in realizing the "American dream."

Has compiled the following list of national and regional mortgage lenders that we have investigated and that perform a significant amount of lending in the Austin area. In addition, we have included a list of locally based lenders that we have yet to investigate further but who conduct a significant amount of business in Austin.

Guaranteed Rate

Beneficial for borrowers looking for a comprehensive selection of loan kinds, including interest-only and jumbo alternatives, as well as an entirely online application and approval process.

Pros

  • Detailed rate examples are included for a variety of the company's loan products.
  • Provides access to various loan options, including interest-only and jumbo options.
  • According to the most recent statistics from the federal government, the company provides competitively low-interest rates compared to other lenders.

Cons

  • Does not provide loans against home equity.

Fairway Independent Mortgage

Borrowers who desire access to a broad array of mortgages, such as ITIN loans and remodeling loans, are the ideal candidates for this product.

Pros

  • Provides a wide variety of lending options, such as Individual Taxpayer Identification Number (ITIN) loans for borrowers who do not have Social Security numbers, loans for home renovations, loans for self-employed borrowers, and mortgages guaranteed by the government.
  • According to J.D. Power and Zillow, it achieves a high level of success in terms of customer satisfaction.

Cons

  • The interest rates on mortgage loans for the various kinds of loans are not available online.
  • According to the most recent statistics from the federal government, origination costs are on the higher end of the spectrum than those charged by other lenders.

loanDepot

Borrowers who want to complete their applications online and have access to a wide range of loan options may benefit from this lender.

Pros

  • Customers who want face-to-face assistance may visit one of the many locations located around the nation.
  • According to J.D. Power and Zillow, it achieves a high level of success in terms of customer satisfaction.
  • According to the most recent statistics from the federal mortgage, interest rates for mortgages are typically on the lower end of the spectrum.

Cons

  • You will need to speak with a loan officer to get mortgage rates since they are not accessible online.
  • Home equity loans and lines of credit are not available via this lender.

PrimeLending

Beneficial for borrowers looking for help with closing costs, as well as those planning to either construct a new house or remodel an existing one.

Pros

  • The complete online application allows for the uploading of documents and automatic loan updates.
  • Provides a lock for an interest rate that might "float down."
  • Provides a variety of mortgage and refinancing choices, including those backed by the government (FHA, USDA, and VA loans).

Cons

  • No mortgage rates are available online; you will need to contact the lender for this information.
  • Does not provide items related to home equity.

Caliber

Beneficial for those who are purchasing their first home, military veterans, and those who have or may have difficulties overcoming credit concerns.

Pros

  • Provides access to a wide variety of educational materials for borrowers in the military.
  • Takes part in several initiatives that help first-time home buyers and down payment assistance.

Cons

  • There is no online display of mortgage rates.
  • Home equity loans and lines of credit are not available via this lender.

Guild Mortgage

Borrowers who place a high value on customer care, first-time home purchasers, and those who may need the adaptability of a low-down-payment lending program are excellent candidates for this kind of loan.

Pros

  • Provides a broad range of credit options, some of which include mortgages for prefabricated homes and loans to finance home improvements.
  • Has a storefront presence in the majority of states.
  • According to J.D. Power and Zillow, it achieves a high level of success in terms of customer satisfaction.

Cons

  • Does not provide any products related to home equity loans.
  • According to the most recent statistics from the federal government, origination fees tend to be higher.

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