Best Texas Mortgage Lenders of 2024 (2024)

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We picked Chase Mortgage as one of the top Texas mortgage lenders for its relationship discounts that offer existing customers reduced processing fees and lower mortgage rates.

For example, customers with combined assets in Chase deposit and investment accounts totaling between $150,000 and $499,999 get $500 off the mortgage processing fee. Borrowers with $500,000 or more get a $1,500 reduction from the processing fees. Chase also offers a mortgage rate discount of up to 0.25% if you have at least $1 million in deposits and investments.

How to apply

Borrowers can apply online. Chase mortgages are offered in 48 states and Washington, D.C.; they are not available in Hawaii or Alaska. However, some loan products might not be available in all states.

Speed

Chase’s preapproval process can take up to two days.

Eligibility

• Minimum credit score of 620
• Minimum down payment of 0% for VA loans, 3% for some conventional loans and DreaMaker loans, 3.5% for FHA loans and 15% for jumbo loans

Loan types

Chase offers fixed- and adjustable-rate conventional and jumbo mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans and low down payment loans

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We picked Bank of America Mortgage for its online and in-person presence in more than 4,300 financial centers nationwide.

Bank of America provides convenient mortgage access for customers anywhere in the country through its Digital Mortgage Experience. Borrowers can complete applications, electronic signatures for documents and rate locks all online. Borrowers also can connect with a lending specialist online.

How to apply

Borrowers can apply online or in person. Mortgages are not available in North and South Dakota, Nebraska, Wyoming, Idaho, West Virginia, Alabama and Wisconsin.

Customer support via phone is available Monday through Friday, 8 a.m. to 10 p.m. ET and Saturday 8 a.m. to 6:30 p.m. ET.

Speed

You can win mortgage preapproval in as little as 20 minutes, with a letter to follow, according to a Bank of America spokesperson.

The lender’s average closing time is between 30 to 45 days, which is about the industry average.

Eligibility

• Minimum credit score of 620
• Minimum down payment of 0% for VA loans, 3% for the Affordable Solution Mortgage and 3.5% for FHA loans
• Alternative credit data, such as rent and utility payments, is accepted

Loan types

Bank of America offers fixed- and adjustable-rate conventional and jumbo mortgages, FHA loans and the Affordable Solution Mortgage, which requires just 3% down and no private mortgage insurance. The lender doesn’t offer USDA loans.

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On Rocket Mortgage's Website

We picked Rocket Mortgage for its flexible YOURgage mortgage product, a fixed-rate mortgage that allows you to choose a custom term from eight to 29 years. This flexibility allows borrowers to choose a product that better fits their mortgage goals.

Note: The YOURgage loan requires a minimum FICO score of 620.

How to apply

Borrowers can apply online. Phone support is available Monday through Friday, 5 a.m. to 5 p.m. PT. Chat support is available from 5 a.m. to 5 p.m. PT, seven days a week. The lender can preapprove loans within eight minutes.

Speed

As of February 2024, the average time to close a conventional refinance with Rocket Mortgage is 21 days, and the average time to close a conventional purchase loan is 36 days.

Eligibility

• Minimum credit score of 580 for FHA and VA loans, 620 for conventional mortgages and 680 for jumbo loans
• Minimum down payment of 0% for VA loans, 3% for some conventional loans and 3.5% for FHA loans
• Alternative credit data, such as rent and utility payments, is accepted

Loan types

Rocket Mortgage’s product line includes fixed and adjustable-rate mortgages, conventional, jumbo, FHA and VA loans. It also offers its own conventional loan, YOURgage, a custom-term, fixed-rate mortgage. Finally, its FHA streamline refinance loan allows existing FHA borrowers to refinance at a lower rate with less paperwork and no appraisal required. The lender offers home equity loans, but it doesn’t offer USDA loans or HELOCs.

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How to apply
Home loans are available in all 50 U.S. states and Washington, D.C. Two notable exceptions are cash-out refinancing in Texas and conventional home loans in Hawaii.

Start an application online or by phone to receive preapproval within minutes. Loan agents are available by phone Monday to Friday, 7 a.m. to 8 p.m. CT.

Speed
On average, it takes about 40 days to close a purchase loan with USAA.

Eligibility

• Minimum credit score of 620 for all USAA mortgages
• Minimum down payment of 0% for VA loans; 3% for conventional loans
• Membership is necessary to apply for a home loan at USAA

Loan types
USAA offers eligible borrowers several types of VA loans, including purchase loans, jumbo purchase loans, IRRRLs and cash-out refinance loans. The lender also has conventional loans, a low down payment option and the Fannie Mae HomeReady program.

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How to apply

Prospective borrowers can apply over the phone or at a local banking center. Comerica doesn’t have an online mortgage application process.

Speed

Comerica closes home loans on average in less than 27 days.

Eligibility

• Minimum credit score of 620 for all Comerica Bank mortgages
• Minimum down payment of 3% for conventional loans; 3.5% for FHA loans and 10% for jumbo loans

Loan types

Comerica offers conventional conforming and nonconforming mortgages, jumbo loans and FHA loans under both fixed- and variable-rate terms. It also offers mortgage refinancing and home equity lines of credit.