Mortgage Lenders in Fulshear, TX
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About Rock Mortgage in Fulshear
Rock Mortgage is a top home lender offering service to buyers located in and around Fulshear, Texas. Fulshear is a city located in the northwest part of Fort Bend County, Texas. It’s part of the Houston-The Woodlands-Sugar Land metropolitan area, which is also known as Greater Houston. This metropolitan area is the fifth-most populous of its kind in the nation, as over 7.1 million people call it home. Despite its proximity to one of Texas’ largest cities, Fulshear is a smaller city with nearly 17,000 residents.
Why Use Rock Mortgage in Fulshear
Although homebuyers can choose from many lenders offering services in and around Fulshear, Rock Mortgage stands above the rest in several key areas. The first is our customer-first approach. We understand the importance of having someone you can trust on your side throughout the buying process. Our clients work with the same person from start to finish and all services are handled in-house. This approach has helped us to achieve a 94% rate for closing loans on time. We also maintain consistent and transparent communication during the buying process.
Find Out What Our Fulshear Clients Have To Say About Our First Time Buyers Loan Programs
Home Loans in Fulshear
When considering different types of loans, it’s helpful to understand how they differ and which might be the right fit for your unique situation. Review the main types of home loans in Fulshear that are available to buyers through Rock Mortgage:
- FHA Loans: A loan backed by insurance from the Federal Housing Administration is known as an FHA loan.
- VA Loans: A loan in which the U.S. Department of Veterans Affairs guarantees part of the loan is called a VA loan.
- Jumbo Loans: A jumbo loan is a loan that allows a borrower to get more money than the lending limits defined by the Federal Housing Finance Agency (FHFA).
- Texas Cash-Out Refinance Loans: Property owners in and around Fulshear may qualify for a Texas cash-out refinance loan, which falls between mortgage refinancing and a home equity loan.
The Federal Housing Administration was created by the National Housing Act in the early 20th century in an effort to address mortgage loan defaults occurring among property owners located across the U.S. during the Great Depression. Although an FHA loan is backed by insurance, it is issued by a private lender, such as Rock Mortgage.
Buyers in Fulshear who meet the FHA loan eligibility requirements must pay at least 3.5% of the total amount financed as a down payment. First-time buyers and lower-income buyers can often benefit from an FHA loan, as long as the property they plan to purchase qualifies for this type of loan.
The lending limit changes regularly, but the current limit (as of 2020) is $510,400 for most areas. In areas or neighborhoods where home costs are generally higher, the 2020 limit is $765,600. Most of the housing market in Fulshear falls under the standard limit, although an experienced lending professional could help determine under which limit a home you’re considering would fall. If you want to purchase a home that exceeds the limit, Rock Mortgage can help you determine whether a jumbo loan would be the right fit.
Veterans and service members can claim this type of loan, as can some military spouses. A VA loan offers more benefits than most other loan types, so those who qualify can take advantage of these benefits. Homebuyers can often get lower interest rates and qualify for loans more easily than they would with another type of home loan. Additionally, a VA loan doesn’t always require the buyer to put anything down or pay for private mortgage insurance, which can put homeownership within reach for lower-income buyers or those who have a smaller budget for the monthly payment.
Texas Cash-Out Refinance Loans
Refinancing a mortgage loan allows a property owner to take a percentage of the difference between the current home value and the remaining loan value in cash. Under state law, the percentage is up to 80% of the equity in the home. Obtaining a Texas cash-out refinance loan is often one of the fastest ways to get cash, as well as one of the cheapest when it comes to the repayment of interest.
This loan type differs from a traditional refinancing loan in that it allows the property owner to get cash, rather than simply negotiating a lower interest rate on the loan. The cash that comes from this type of loan can be used for a variety of purposes, including making improvements to the home or catering to the personal needs of the property owner.
Housing Market in Fulshear
The housing market in Fulshear has become more competitive in the recent past, as is the case with many markets across the United States. Various factors have impacted the surge in home prices and demand, including low interest rates and the need for larger living spaces among people working remotely. Review some of the stats on the housing market in Fulshear so you know what to expect when buying in this area:
- According to Redfin data, the housing prices in Fulshear increased by nearly 22% between February 2021 and February 2022.
- The median home price in the city was $512,000, marking a significant increase over the median price of $420,000 in February of 2021.
- The median listing price for a Fulshear home is just over $543,000, which translates to approximately $191 per square foot, as reported by realtor.com.
- The supply of homes is currently greater than the demand among homebuyers, so the market swings toward buyers at this time.
- A buyer’s market typically results in slightly lower home prices since buyers aren’t as motivated to make offers that come in higher than the asking price.
- Some of the top-rated homes with appealing amenities that are for sale in Fulshear receive multiple offers, resulting in bidding wars that drive prices higher.
- The average Fulshear home sells at around its listing price and remains on the market for approximately three weeks.
- Some of the more desirable homes for sale go under contract in four days and sell at approximately 2% above the listing price.
Hottest Fulshear Neighborhoods
Fulshear is a growing city in southwest Texas, offering access to Houston and other major cities that boast appealing amenities. It’s located approximately 40 miles from the center of Houston, so some of the residents commute to the city for work. Most of the neighborhoods in Fulshear make it easy to get to employment and entertainment via the Westpark Tollway Extension and the Farm to Market (FM) 1093 Tollway.
Fulshear is known for its small-town charm, as the city only includes just over 8 square miles of land. Despite the city’s laid-back atmosphere, residents have access to appealing amenities, including top-rated dining and nightlife. It’s also close to Houston and is part of the massive metropolitan area, so those who call Fulshear home can shop, dine, and explore in one of the nation’s largest cities. Some of the hottest neighborhoods in the city include:
- Weston Lakes: A 1,400-acre gated planned community located in Fulshear that includes an 18-hole championship golf course and country club with spacious lots in the 77441 ZIP code.
- Cross Creek Ranch: Cross Creek Ranch is a desirable neighborhood in Fulshear that sits within the city’s 77441 ZIP code and includes mixed-use development areas, including commercial structures and new-construction single-family homes, along with areas for active seniors.
- Fulbrook: Fulbrook, located within the 77441 ZIP code, sits just outside of Fulshear’s city limits and includes custom-built homes and over 200 acres of lakes and green space, along with a casting dock, boat slips, and a covered pavilion.
- Cinco Ranch: Cinco Ranch, residing within the 77450 and 77494 ZIP codes, includes several planned communities and neighborhoods, each offering access to a network of walking and hiking trails, a neighborhood park, and several lakes.
- Tamarron: Located near Katy and close to Fulshear, Tamarron is a large master-planned community situated west of Cinco Ranch Northwest. Boasting amenities like miles of walking trails, sports fields, and massive green spaces, Tamarron is situated in the 77494 ZIP code.
When looking for homes in and around Fulshear, you can check out these and other neighborhoods that offer the amenities you and your family want. Some offer unique amenities like fitness centers for residents, while others provide access to options that help families stay active while enjoying the great outdoors.
Visit Rock Mortgage Today
When looking for loans in Fulshear, homebuyers can count on the team at Rock Mortgage. Our team of financial experts puts each buyer’s best interests first, helping them to achieve their goal of buying a home. With over two decades of experience in the home lending industry, we’ve helped countless families, individuals, and couples purchase their dream homes. If you have any questions about the process of purchasing a home or the loan types we offer, don’t hesitate to contact us. We’re happy to work with you throughout the process and help you understand what makes us one of the best mortgage lenders in Fulshear.