According to Niche, one of the best locations to live in Texas is the city of Plano. Plano residents enjoy a dense suburban vibe, and the majority of the city inhabitants own their homes. Plano, Texas was named the third-best city in the U.S. due to its excellent public schools, low crime rates, affordable cost of living, and family-friendly features. To make your move to Plano as easy as possible, this article provides thorough information about city life, the real estate market, and top mortgage providers in the city.
About Plano, Texas
Northern Texas’ Collin and Denton Counties both share the city of Plano. Plano is the ideal location for job possibilities and all things entertainment, and it’s only a 30-minute drive from the Dallas and Fort Worth metro area. The city, which has a population of about 284,579, is constantly expanding and changing. Plano is an excellent place to live due to the ideal blend of urban and suburban living found there.
It’s no surprise that so many fresh graduates, families, and seniors are choosing to make Plano their home given that the city is best known for having a terrific quality of life, a strong job market, and pleasant weather. What makes Plano especially attractive is the fine dining, coffee shops, outdoor spaces, and nature trails.
Plano’s convenient proximity to Dallas isn’t the only reason people relocate there; there are also plenty of local attractions. Safe neighborhoods, a top-notch educational system, delectable Texas cuisine, cost-effective living, and a variety of recreational activities are all found in this city. The weather in Plano is also more pleasant than in many other regions of the country due to its mild winters. Residents of the city get plenty of sunshine all year long, just like the rest of Texas.
What’s to Love About Plano?
Like we mentioned, there are so many contributing factors to Plano’s booming popularity amongst Americans all over the country. We dive deeper into these factors below:
- Several big companies have their corporate headquarters in this city, including J.C. Penny, Frito Lay, Toyota, Legacy West, and Pizza Hut.
- The median household income in Plano is $96,348, which is much higher than the national median of $67,521 (U.S Census Bureau).
- The opening of a light rail station connecting Dallas and Plano has helped the city life in downtown Plano take off, making it one of the most rapidly rising downtowns. The downtown area of the city contains new office buildings, shops, and restaurants that both new and longtime residents can explore.
- In Texas, Plano is popular as a haven for top students. Students are available with the resources they need to achieve, including four full-service libraries and an educational system that focuses on preparing youngsters for adulthood.
- Plano is also popular for excellent healthcare system in comparison to the rest of the state. More than 80 acute-care hospitals are available to Plano residents
- Plano offers a wide variety of outdoor recreation opportunities thanks to its 84 parks. Nature lovers enjoy the parks’ interconnected bicycle routes and enormous trees.
The Housing Market in Plano
According to Movoto.com, Plano currently has 90 new houses for sale and 722 active home listings. Homes in Plano were selling for a median price of $550,000 as of June 2022, and they typically sell after 27 days on the market. This year, 658 residences were sold in Plano for June 2022, an almost three-fold increase from the 231 residences sold during the same period, last year.
Realtor.com projects home sales to increase by 6.6% year-over-year in 2022, reaching their highest level in 16 years. The for-sale inventory is anticipated to start recovering from recent sharp declines, and buyers are anticipated to stay active. Even though existing house listings are still below pre-COVID levels, realtors predict record-high listing prices, rapid sales, and a shortage of for-sale housing options. As builders continue to ramp up production, which is anticipated to climb by 5% year-over-year, the gap between supply and demand may also narrow.
Top Mortgage Companies in Plano, Texas
While moving can seem intimidating at first, the right kind of help can make the process much more smooth and pleasant. You will likely invest weeks in viewing residences and completing all the paperwork in search of your dream home. You may also spend a significant amount of your savings in this process. Starting the process at the appropriate time and with the finest financing alternatives is the best approach to making your home buying experience an excellent one. We made this guide to help you discover the top mortgage companies in Plano, Texas.
1. Reliance Financial
Reliance Financial is a privately held mortgage company that is serving customers in Plano, Texas amongst many other locations in the country. You can depend on our knowledgeable mortgage experts to help you in every step of the way while you seek out a new mortgage. We are a full-stack mortgage company offering a variety of mortgage products for different purposes. Our mortgage specialists have the necessary training and expertise to arrange the right mortgage for your exact situation.
Through our online resources and mortgage calculators, Reliance Financial provides seamless financial services. We are ultimately committed to giving you the best financing options that match your goals. We are committed to providing our clients with excellent rates and loan options while also providing some of the fastest turn times in the business. Our objective is to serve as a trusted advisor, offering incredibly individualized service and supporting you through each stage of the loan application process.
Reliance Financial has successfully met the ups and downs of the financial and real estate markets while remaining firm in its aim to offer consumers reasonable home financing, unmatched service, and a committed workforce.
Email: sales@reliancefinancial.com
2. Mr. Cooper
Residents in Plano can seek help with their mortgage financing from Mr. Cooper, a well-known firm. Conventional loans, FHA standard and streamline loans, VA and VA IRRL loans, and jumbo loans are all part of its mortgage offerings. Additionally, the team helps clients who want to refinance their present mortgage. The business recently launched a smartphone app where customers can access mortgage documentation, track loan applications, and make payments. Additionally, consumers who would rather get assistance in a language other than English can make use of spoken translation services.
3. Fairway Independent
Fairway Independent Mortgage Corporation has knowledgeable mortgage experts in Plano. They try their best to identify the most fitting mortgage loan products and services to meet their clients’ precise requirements. This company works hard to give consumers the best possible level of attentive personal attention and knowledgeable guidance. They assist their clients in choosing the best loan options available on the market. Moreover, they effectively guide them through the complex mortgage procedure.
4. Benchmark Mortgage
When it comes to providing outstanding mortgage services, Benchmark has long been an industry lead. Their innovative methodology alters and undermines the conventional financial industry practices. While some companies treat their clients like simply another deal they have to wrap up. However, this top-ranking Plano mortgage firm is aiming to forging a lasting bond with you and your family. They are highly countable for for their professionalism and business etiquettes.
Every month, Benchmark Mortgage’s network of mortgage experts services many customers. They are religiously working to assisting you in managing your individual mortgage needs by locating the best financing.
5. Bengal Mortgage
Bengal Mortgage is a reliable mortgage firm in Plano. They provide mortgage loans to individuals and families in the Plano metro area as well as the nearby towns of Allen, Frisco, and McKinney. In addition to construction mortgages, they also offer lending services such as mortgage counseling, conventional fixed-rate, adjustable-rate mortgages, investment property mortgages, jumbo mortgages, and interest-only mortgages.
Bengal Mortgage takes pride in its collaborative atmosphere and passion for its part in the home-buying process. They offer constant direction on the road to home ownership through innovation in technology and experience. Bengal Mortgage further provides debt consolidation, cash-out refinancing, and rate-term refinancing. They also assist people in selling previously owned residences.
Which One Should You Choose?
If you are unsure about which mortgage lender to choose, keep exploring mortgage companies in Plano. In this paragraph, we will guide you on which lender is best and why it can help you in your mortgage journey.
It’s important to choose the right mortgage. The “right” mortgage doesn’t necessarily mean the biggest or most popular lenders. It depends on your financial goals, credit profile, and the level of guidance you receive throughout the home-buying process, since there are many options available.
- Banks
- Credit Unions
- Mortgage Brokers
From these options, you should select a lender that offers flexibility, transparency, and personalized service, because these factors can make a significant difference.
Why Choose Reliance Financial?
A mortgage lender is not just someone who gives you a loan; it’s a partner who stands with you through every challenge. If you are looking for competitive interest rates and a wide range of loan programs, choosing a dedicated company like Reliance Financial can be a smart choice.
Reliance Financial works with multiple lending partners, allowing you to compare options. Based on your financial goals, you can select the loan that best fits your situation.
Top Reasons to Choose Reliance Financials:
- Access to Multiple Loan Options:
Because Reliance Financial works with many lenders, you have access to compare the lenders’ variety of loan programs and competitive interest rates. - Personalized Mortgage Guidance:
Reliance Financial ensures that they help every borrower with one-on-one support, clear explanations of loan terms, down payments, and closing costs. - Fast Pre-Approvals and Closings:
We at Reliance Finhelpls helps buyers secure quick pre-approvals and meet tight closing deadlines in Plano - Transparent Pricing:
We believe in honesty and clarity, no hidden charges, because we make sure borrowers can make confident decisions.
Conclusion
Although deciding to move is a big decision, the actual moving procedure doesn’t have to be difficult. Reliance Financial professionals have extensive knowledge and experiencing in heling families and individuals migrating to Texas. We help to eliminate the stress associated with moving. This, we provide personalized mortgage guidance and service along with a variety of low rate and homebuyer centric financing options.
Reliance Financial is aware of how important a home is to you. Thus, we are prepared to assist you in making the most of your most significant financial investment. It means, we also serves as security for your family and membership in the community. We promise to be your dependable, knowledgeable mortgage partner for life.
FAQs about Mortgage Companies Plano
How do I choose the best mortgage company in Plano?
Choosing a mortgage company totally depends on your financial goals. But there are some universal signs that you need to look at while choosing a lender, like competitive rates, multiple loan options, strong customer reviews, and clear communication throughout the loan process.
Is a local Plano mortgage company better than a national lender?
Yes, they give you a better edge than a national lender. Every place has its own difficulties. That’s why it’s important to look for lenders who understand the Plano housing market better and may offer faster closing.
What loan type should I choose as a first-time home buyer?
The best loans to choose as a first-time homebuyer are FHA loans, because they require lower down payments. Conventional loans with low down payment options may also be available.
Should I focus more on interest rate or loan fees?
In simple words, both matter: lower interest rates reduce long-term costs, and lower fees reduce upfront expenses.
Can I switch mortgage lenders after getting pre-approved?
Yes, you can switch mortgage lenders after getting pre-approved, but as long as your loan has not closed.
