Best Mortgage Lenders in Houston Texas

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Contributor, Benzinga
November 29, 2022

Looking for a new home in the big state of Texas can be challenging because you have so many options. But finding the right mortgage lenders in Houston, Texas can be tough. That's why Benzinga researched the top mortgage lenders to show you the best mortgage lenders in Houston, Texas for buying a home or refinancing.

The Best Mortgage Lenders in Houston, Texas

See also: Best Mortgage Lenders in Texas

Achieve Homeownership With Angel Oak Home Loans

Angel Oak Home Loans is a full-service mortgage lender offering traditional and portfolio Non-QM mortgage loans. Angel Oak is licensed in 45 states and offers competitive rates and quick closing times. 

  • Available for purchase, cash-out or rate-term refinance
  • Primary, second home, or investment properties
  • Single-family, townhomes, or condos
  • Loan amounts up to $3.5 million
  • No tax return options for self-employed borrowers and real estate investors
  • 1099 income options available
  • Government loan products available (FHA, USDA, VA)
  • Competitive rates on conventional purchases and refinances
  • Flexible down payment options
  • Non-warrantable condos allowed

Houston, Texas Real Estate Market

Houston is notably a large city, the largest in Texas with 2,304,580 residents. It is the 4th most populous state in the country and the largest city by area whose government is not combined with a borough or other county. It is part of the Greater Houston metropolitan area and is located near the Gulf of Mexico. Nicknames for Houston include “Bayou City”, “H-Town”, “Space City”, and “the 713”. It is a bustling city full of entertainment within its Theatre District and Museum District. It is also home to the Texas Medical Center, The Toyota Center, and the Mission Control Center and is known as the world capital of space exploration.

Houston’s real estate market has seen an increase in the average annual appreciation rate over the last 10 years of 5.79%, bringing the median home value to $184,676. However, almost 60% of the residents here are renters. The average rental rate in Houston is $1,380 per month. The real estate market is made up of mostly single-family homes and apartment complexes. These dwellings are mainly 1-3 bedrooms built between 1970-1999. Many young professionals reside in Houston, enjoying the Downtown nightlife and holding a mix of white and blue-collar jobs in fields such as; construction, healthcare, retail, and education. 

Meyerland
Addicks
Melendy
Houston Heights
Dogwood Acres/Walden Woods
Bellaire Junction
Olcott
Fresno
Clodine
Riverside Terrace

Nearby Communities

Bellaire
Bunker Hill Village
Hedwig Village
Hilshire Village
Humble
Hunters Creek Village
Jacinto City
Piney Point Village
Southside Place
West University Place

Current Mortgage Rates in Texas

Several factors impact your mortgage rate. These include your credit history, the size of your down payment and your mortgage amount. Rates change daily and lenders adjust rates up or down to reflect changes in the economy and in the housing market. We update mortgage rates frequently to reflect the most relevant information. 

Loan TypeRateAPR
30-year fixed 6.749% 6.834%
15-year fixed 6.156% 6.331%
7/1 ARM (adjustable rate) 6.875% 7.768%
5/1 ARM (adjustable rate) 6.543% 7.839%
Rates based on an average home price of $207,301 and a down payment of 20%.
See more mortgage rates on Zillow
Q

What credit score do I need to buy a home in Houston, Texas?

A

Most lenders in Houston, Texas will require you to have a minimum credit score of 620.

Q

Is Houston Texas a buyer's or a seller's market?

A

Currently, the seller’s in Houston, Texas have an advantage over the buyers because the market remains hot.

Q

Where can I find the best mortgage lenders in Houston, Texas?

A

You can find the best mortgage lenders in Houston, Texas by consulting the list above.

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