9 best mortgage lenders in Texas

• Pros and cons

  Pros

  • No pressure. LoanDepot's no-steering policy ensures loan officers offer impartial guidance.
  • No prepayment fee. You won't be penalized if you pay off your loan early.
  • No appraisal fee. LoanDepot's loan officers may be able to identify the best loan for you without requiring an appraisal.

  Cons

  • Steep origination fee. LoanDepot may charge as much as 5% for origination.
  • Mortgage rates aren't online. You have to contact a loan officer to determine your mortgage rate.
  • Negative reviews. As of October 2020, LoanDepot has some recent negative reviews on Trustpilot, mostly related to lackluster customer service, long processing times and unresponsive representatives.

• More details

  Loan products offered	Conventional, Jumbo, FHA, VA, USDA, Refinance
  Minimum credit score	Conventional: 620 FHA: 580 VA: 620
  Minimum down payment (Conventional)	3.5%
  State availability	Available in all states
  NMLS #	174457

If you want a bird's-eye view of all the lenders in your neck of the woods, LendingTree can instantly show you the state's most attractive rates. But be ready to receive unsolicited calls from third-party lenders if you use this service.

• Pros and cons

  Pros

  • Massive selection of lenders. LendingTree displays rates and terms from more than 500 lenders.
  • No fees. LendingTree is free to use, and any lender you select will never ask for upfront fees.
  • Custom alerts. Create custom alerts to get notified when better rates are available.

  Cons

  • Solicitors will contact you. When you work with a lending marketplace, your contact information gets shared with many lenders, some of which may contact you via phone or mail.
  • Hard inquiry. Unlike some lenders, LendingTree performs hard credit checks, which will negatively affect your credit score for a temporary period of time.

• More details

  Loan products offered	Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
  Minimum credit score	Conventional: 620 FHA: 500 VA: 620 USDA: 640 Jumbo: 800
  Minimum down payment (Conventional)	3%
  State availability	Available in all states
  NMLS #	1136

• Pros and cons

  Pros

  • Low rates. This lender offers some of the lowest mortgage rates in Texas.
  • Hero Program. KS StateBank waives some fees for educators, police, firefighters and paramedics.
  • Strong reviews. Based on 366 reviews on LendingTree, this bank is rated of 4.9 out of 5.

  Cons

  • No chat support. Support is only available over the phone or in-person at a branch.
  • Not transparent. KS StateBank neither publishes its rates nor details its fees online.
  • Origination fee. KS StateBank charges $795 for origination. Many lenders in Texas charge a lower fee or no fee at all, but may have higher average rates.

• More details

  Loan products offered	Conventional, Jumbo, FHA, VA, USDA, Home equity, Refinance
  Minimum credit score	Conventional: 640
  Minimum down payment (Conventional)	3%
  State availability	Not available in: NY
  NMLS #	410602

• Pros and cons

  Pros

  • Down-payment assistance. Guild offers forgivable loans or grants to qualifying first-time homebuyers.
    
  • Customer satisfaction. According to J.D. Power, Guild Mortgage ranks among the top 10 mortgage lenders for customer satisfaction.
  • Airbnb partnership. Guild accepts Airbnb income as qualifying income for refinancing applications.

  Cons

  • Limited locations. Though you can apply online statewide, Guild Mortgage only has one Texas branch west of San Antonio. If face-to-face support is important to you, your options are limited.
  • No home-equity options. Guild doesn't offer home equity loans or lines of credit.
  • Not the most competitive lender. Other lenders offer lower rates and fees.

• More details

  Loan products offered	Conventional, Jumbo, FHA, VA, USDA, Reverse, Refinance
  Minimum credit score	Conventional: 600-620
  Minimum down payment (Conventional)	3%
  State availability	Not available in: NJ, NY
  NMLS #	3274

Cornerstone doesn’t provide home equity loans or lines of credit, nor does it have a special program for first-time homebuyers. But it does offer construction-to-permanent loans, which many other lenders don’t.

• Pros and cons

  Pros

  • Everything's in-house. Cornerstone issues its own preapprovals and processes, underwrites and funds its own mortgages, which can speed up the home-buying process.

  Cons

  • Not transparent. This lender doesn't clearly disclose all of its fees online.
  • Lackluster website. Cornerstone's website isn't as polished or intuitive as some other lenders.
  • Bad reviews. Cornerstone has a rating of 1.38 out of 5 on the BBB's website. Many of the complaints mention poor customer service and dishonest loan officers.

• More details

  Loan products offered	Conventional, Jumbo, FHA, VA, USDA, Refinance
  Minimum credit score	Conventional: 640 FHA: 620 Investment properties: 660
  Minimum down payment (Conventional)	5%
  State availability	Not available in: CT, GA, HI, IL, MA, NH, NJ, NY, RI, VT
  NMLS #	2258

• Pros and cons

  Pros

  • Hundreds of branches in Texas. Chase has more branches in Texas than almost any other bank.
  • Discounts for members. If you already bank with Chase, you may be eligible for extra savings.
  • All-in-one banking. Unlike lenders that only offer mortgages, Chase can handle all of your banking needs.

  Cons

  • Limited self-service. Complete your mortgage application only by speaking to an advisor.
  • Substantial fees. You'll have to pay a fee for your application, underwriting and origination and to lock in your rate.
  • Not great for bad credit. Applicants with below-average credit scores will face an uphill battle with Chase, and only applicants with high scores will qualify for the best rates.

• More details

  Loan products offered	Conventional, Jumbo, FHA, VA, HELOC, Refinance
  Minimum credit score	DreaMaker and Conventional: 620 FHA: 580 All other mortgage types: 700
  Minimum down payment (Conventional)	3%
  State availability	Available in all states
  NMLS #	399798

• Pros and cons

  Pros

  • Exclusive savings. Caliber can help you save on your down payment through the Texas Mortgage Credit Certificate Program.
  • Support for service members. Caliber offers support for members of the military and first-time homebuyers though the TDHCA.
  • Bad credit accepted. Caliber accepts credit scores as low as 580 for some loan types.

  Cons

  • No home equity options. This lender doesn't offer home equity loans or lines of credit.
  • Mortgage rates aren't online. Unlike many other lenders, Caliber doesn't publish its rates.
  • Limited customer service. Caliber doesn't offer online chat and support reps are only available during business hours.

• More details

  Loan products offered	Conventional, FHA, VA, USDA, Refinance
  Minimum credit score	Conventional: 620 FHA: 580
  Minimum down payment (Conventional)	3%
  State availability	Available in all states
  NMLS #	15622

• Pros and cons

  Pros

  • Real Estate Rewards. Mr. Cooper matches qualified applicants with top-performing real estate agents to help them potentially save thousands of dollars.
  • Close on-time guarantee. Mr. Cooper will cover your first month's payment if it's responsible for a delay in your closing date.

  Cons

  • No online rate calculator. You must contact a loan officer for personalized rates.
  • No online application. Unlike most lenders, Mr. Cooper doesn't allow you to apply for a mortgage online.

• More details

  Loan products offered	Conventional, Jumbo, FHA, VA, Refinance
  Minimum credit score	Conventional: 620
  Minimum down payment (Conventional)	5%
  State availability	Available in all states
  NMLS #	2119

• Pros and cons

  Pros

  • Numerous branches. RBFCU has more than 50 physical locations throughout Texas.
  • Online application. Unlike some lenders on this list, RBFCU lets you apply online.

  Cons

  • Poor reviews. RBFCU is rated 1.17 out of 5 by the BBB and 2.7 out of 5 on WalletHub.
  • Refinances aren't a priority. RBFCU is currently prioritizing purchase applications ahead of those for refinancing, so the process could take longer than expected.
  • Closing costs. Not all lenders charge closing costs on refinances, but RBFCU does.

• More details

  Loan products offered	Conventional, Jumbo, FHA, VA, Refinance
  Minimum credit score	Conventional: 620 FHA: 580
  Minimum down payment (Conventional)	3%
  State availability	Only available in: TX
  NMLS #	583215