BEST OF
7 Best TDHCA Mortgage Lenders of 2021
The Texas Department of Housing and Community Affairs, or TDHCA, can help first-time buyers purchase a home. See NerdWallet's picks for participating lenders.
Texas residents who want to buy their first homes can get help from the Texas Department of Housing and Community Affairs. The state's My First Texas Home loan program includes down payment and closing cost assistance.
The program's low-interest rate loans are offered through a network of participating lenders. These are among the best, as determined by NerdWallet research.
Texas residents who want to buy their first homes can get help from the Texas Department of Housing and Community Affairs. The state's My First Texas Home loan program includes down payment and closing cost assistance.
The program's low-interest rate loans are offered through a network of participating lenders. These are among the best, as determined by NerdWallet research.
Summary of Best TDHCA Mortgage Lenders of 2021
| Lender | NerdWallet Rating | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Best for customer service | 620 | 5% | at loanDepot | |
Best for customer service | 620 | 3% | Read review | |
Best for online experience | 620 | 3% | Read review | |
Best for online experience | 620 | 3% | at Fairway Independent Mortgage | |
Best for government loans | 620 | 3% | Read review | |
Best for government loans | 620 | 3% | Read review | |
Best for online experience | 620 | 3% | at Guaranteed Rate |
at loanDepot
at loanDepot
Min. Credit Score
620
Min. Down Payment
5%
Pros
- Offers digital income, asset and employment verification.
- Offers multiple renovation loan options.
- Has over 200 affiliated loan stores nationwide for customers who prefer face-to-face service.
Cons
- Mortgage rates aren't available online; you'll need to contact a loan officer.
- Does not offer home equity loans or lines of credit.
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Full online application includes document uploads and automated loan updates.
- Offers a "float-down" interest rate lock.
- Offers a proprietary closing-cost assistance program.
Cons
- No online mortgage rates — you have to contact the lender for info.
- Doesn't offer home equity products.
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Offers an ITIN qualification path for undocumented borrowers.
- Has a digital application process.
- Offers several mortgage options for low- to moderate-income borrowers.
- Borrowers can qualify with income from self-employment and other nontraditional sources.
Cons
- No mortgage rates published online.
- No home equity loans or lines of credit.
- Generally has higher rates and fees than other lenders.
- Branch offices not available in all states.
at Fairway Independent Mortgage
at Fairway Independent Mortgage
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Offers a robust suite of loan products, including a variety of renovation loans.
- Has a digital application that can be completed in 10 minutes.
- Works with some state housing finance agencies to offer mortgages with down payment and closing cost assistance.
Cons
- Mortgage rates aren't posted online.
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Offers multiple online conveniences, including a full mortgage application, e-signatures and digital loan process tracking.
- Offers a wide variety of loan products, including home improvement and manufactured home loans.
Cons
- Does not offer home equity loan products.
- Average interest rates and fees are higher than other lenders.
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Offers a full array of mortgage products, including government and renovation loans.
- Has loans for most purposes, including purchase, refinance and jumbo mortgages.
- Online portal keeps borrowers up-to-date on the loan application's progress.
Cons
- Doesn't post interest rates on its site.
- Doesn’t offer home equity loans or lines of credit.
at Guaranteed Rate
at Guaranteed Rate
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Offers the ability to securely upload and digitally sign loan documents.
- Displays detailed sample rates for many of its loan products.
Cons
- Doesn't offer home equity loans or lines of credit.
More TDHCA participating mortgage lenders
The following are some of the highest-volume lenders that participate in TDHCA first-time home buyer programs. They have not been reviewed by NerdWallet.
Website has calculators, answers to FAQs and a mortgage glossary.
Offers FHA, VA and USDA loans.
National lender headquartered in Texas.
More than 25 locations in Texas.
Prequalification can be started online.
Website includes calculators, FAQs and a mortgage glossary.
Offers FHA, VA and USDA mortgages as well as conventional loans.
Lends in over 30 states and headquartered in Texas.
Reduced interest rate for disabled veterans under the Texas VLB mortgage program.
Outlines the steps to buying a home and offers a homebuying guide.
Offers FHA, VA and USDA loans as well as conventional mortgages for first-time home buyers.
Website has several loan calculators.
More from NerdWallet
Last updated on January 21, 2021
Methodology
NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.
To recap our selections...
NerdWallet's Best TDHCA Mortgage Lenders of 2021
- loanDepot: Best for customer service
- PrimeLending: Best for customer service
- Alterra: Best for online experience
- Fairway Independent Mortgage: Best for online experience
- Guild Mortgage: Best for government loans
- HomeBridge: Best for government loans
- Guaranteed Rate: Best for online experience
