Best Houston mortgage lenders in 2022

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If you’re trying to buy a home in Houston, you’re going to deal with the same issue that’s been impacting buyers in just about every city in the country: high prices. Whether the city feels like your next home — or if it already is and you want to refinance your mortgage while rates are still low — compare mortgages from multiple lenders to lock in the best deal. Here are some of the best to consider.


Methodology

To determine the best mortgage lenders in Houston, Bankrate evaluated lenders based on several criteria, including affordability (APR, discounts and/or incentives); availability (approval/closing timelines, loan products); and experience (application process, customer service). We also evaluated lenders through the lens of different types of borrowers in Houston using Bankrate’s comparison tool.


Best Houston mortgage lenders

Lower

Lower mortgage review

Loans offered Credit requirements Highlights Good if
Purchase and refinance; conventional, jumbo, FHA, VA, USDA, investment property 620 for conventional loans; 580 for FHA loans and VA loans Offers e-signature for loan documents and a convenient mobile app; matches down payment savings up to $500; waives lender fees if you ever want to refinance You have excellent credit

Pros

  • Fast closings (average of 21 days)
  • Offers a down payment saving matching program that can help you score up to $500
  • No fees if you ever decide to refinance

Cons

  • $995 lender fee for new purchases
  • Does not accept alternative credit data such as rent history when processing loan applications

First Midwest Bank

First Midwest Bank mortgage review

Loans offered Credit requirements Highlights Good if
Purchase and refinance; conventional, jumbo, FHA, VA, USDA, construction and renovation loans, physician loan, portfolio loan 620 for conventional loans More than 50 loan options; special programs for physicians and first responders; introductory HELOC rates of 1.99% You want lots of loans options and a flat fee structure

Pros

  • First-time homebuyer programs and down payment/closing cost assistance
  • More than 50 loan programs
  • Upfront lender fee structure of $750

Cons

  • Jumbo loans not available in Texas
  • 620 credit score required for all loans

Interfirst Mortgage Company 

Interfirst Mortgage Company review

Loans offered Credit requirements Highlights Good if
Purchase and refinance; conventional, jumbo, investment property 620 for conventional loans No lender fees; preapprovals in one day; easy online application You want to refinance your mortgage in Houston

Pros

  • No need to pay for upfront discount points
  • No lender fees

Cons

  • Doesn’t offer FHA, VA or USDA loans
  • Website doesn’t offer much information

Watermark Home Loans

Watermark Home Loans review

Loans offered Credit requirements Highlights Good if
Purchase and refinance; conventional, jumbo, FHA, VA, USDA, construction and renovation loans, investment property, interest-only, reverse mortgage; condo and co-op, manufactured home, piggyback (80/10/10) 620 for conventional loans, FHA loans and VA loans; 680 for jumbo loans; 580 for USDA loans Waives VA funding fee for certain applicants; some of the most competitive rates for FHA borrowers in Houston; offers piggyback loans to avoid private mortgage insurance You’re making a small down payment with an FHA loan or looking for a VA loan

Pros

  • Competitive rates for FHA borrowers
  • Offers the ability to roll closing costs into some loans, reducing your upfront expenses
  • Will waive VA funding fee for some military borrowers

Cons

  • Requires a 620 credit score for FHA loans
  • Website functionality is limited
  • Will likely need to pay points for the best rates, plus a lender fee

Ally Bank

Ally Bank mortgage review

Loans offered Credit requirements Highlights Good if
Purchase and refinance; conventional, jumbo 620 for conventional loans; 700 for jumbo loans No lender fees; as little as 10 percent down for jumbo loans You’re looking for a jumbo loan

Pros

  • No lender fees
  • Closings faster than the industry average
  • Lower down payment requirement for jumbo loans than many lenders

Cons

  • No branch locations
  • No government-backed loans

Local Houston mortgage lenders

When it comes to completing the mountain of paperwork to get a mortgage, you might actually prefer some in-person assistance to navigate the process. If you want a mortgage lender with a network of branches, consider one of these that has locations in Houston.

Bank of America

Bank of America has a massive presence in Houston and Harris County, and the financial giant performs especially well when it comes to helping customers buy new homes: It came in sixth for customer satisfaction in J.D. Power’s 2021 mortgage origination study. The bank offers programs for all types of homebuyers, and if you’re part of its Preferred Rewards program (and maintain a high deposit balance), you might be able to save up to $600 on the mortgage origination fee.

Fairway Independent Mortgage Corporation

Fairway Independent Mortgage Corporation has four offices in Houston and more in the greater area, and some loan officers in Harris County have been named to the Texas State Affordable Housing Corporation’s list of top officers. The lender also earned the fifth spot on J.D. Power’s most recent customer satisfaction study.

Amegy Bank

  • Good if: You want to build a new home in Houston

With housing supply tight everywhere, you might be considering building a new home rather than continuing to browse for one. Amegy Bank’s one-time construction loans mean you’ll only pay one set of closing costs, and there are low-down payment options available.

What to know when getting a mortgage in Houston

If you’re just starting to explore the many different neighborhoods of Houston and surrounding suburbs, get ready for some work: The Houston metro, along with The Woodlands and Sugar Land, stretches more than 9,400 square miles — an area bigger than the state of New Jersey. That expanse, accompanied by more than 2.3 million residents, makes Houston a driving city. Think about where you’ll work to help avoid dealing with Texas-sized traffic.

Once you have an idea of where living will feel convenient, determine your budget and get preapproved. The housing market is competitive, so you’ll need to be a highly qualified buyer for your offer to carry weight. According to data from real estate brokerage Redfin, the most sought-after listings in Houston only stay on the market for around a week.

Summary: Best Houston mortgage lenders

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Written by
David McMillin
Contributing writer
David McMillin writes about credit cards, mortgages, banking, taxes and travel. David's goal is to help readers figure out how to save more and stress less.
Edited by
Mortgage editor
Reviewed by
Professor of finance, Creighton University
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