Expertise.com

2024

Last updated:

Best Mortgage Brokers in Waco, TX

Our Recommended Top 4

We did the research for you!

  • Licensing
  • User Reviews
  • Mystery Shopping Calls

Our goal is to connect people with the best local professionals. We scored Waco Mortgage Brokers on more than 25 variables across five categories, and analyzed the results to give you a hand-picked list of the best.

35Reviewed

22Curated

4Top Picks

Learn about our selection process.

Providers

featured provider = Featured Provider

5525 Speegleville Road, Woodway, TX 76712
WebsiteLicense: 746474

Expertise.com Rating

Review Sources

Google
5.0 (15)

Why choose this provider?

Benchmark Mortgage is a mortgage lending firm led by Adam Goldenberg based in Waco. He has been in mortgage services for more than 17 years, working with families to achieve their homeownership goals. The company values lasting client relationships, offering "Lifetime Loan" services to provide continuous client care. This means the firm monitors the mortgage market to notify customers of rate changes that may benefit them. It also offers annual reviews to provide clients with updates that can be made on existing loans.

  • Commercial Loans
  • Multi-Family Loans

919 North Valley Mills Drive, Waco, TX 76710
WebsiteLicense: 2973

Expertise.com Rating

Review Sources

Facebook
4.0 (18)
Google
5.0 (5)

Why choose this provider?

Wallick & Volk is a mortgage broker serving customers in Waco and the surrounding areas. The privately held company has decades of experience handling FHA, VA, and USDA loans. Its Waco branch has a list of loan programs for first-time homebuyers and also for customers interested in refinancing their existing mortgage. Customers looking to buy a home that requires renovation are also offered various options, including the streamlined 203(k) loan and the standard FHA 203(k) loan.

  • Refinance

600 Lake Air Drive, Waco, TX 76710
WebsiteLicense: 1281536

Expertise.com Rating

Review Sources

Google
4.0 (19)
Facebook
5.0 (3)

Why choose this provider?

McCulloch Mortgage Team is a lender that helps individuals and families in Waco obtain home loans that fit their purchase or refinance requirements. Its loan programs are FHA, VA, USDA, and conventional loans. In addition, its team advises buyers who are not yet qualified to purchase homes on ways to improve their financial status to be considered mortgage-ready. Charles McCulloch leads the team. He is a mortgage coach with 20 years of experience in client interaction, leadership, and management positions in the industry.

  • Refinance

1600 Lake Air Drive, Waco, TX 76710
WebsiteLicense: 200719

Expertise.com Rating

Review Sources

Facebook
5.0 (23)
Google
5.0 (14)

Why choose this provider?

The Koehn Mortgage Group is a lender serving Waco and its neighboring metros. Its team of loan consultants has over 60 years of combined experience in offering programs such as FHA, VA, USDA, and conventional loans. They also handle loan refinancing options, as well as renovation and building loan programs. Its founder and branch manager, Rick Koehn, has over 27 years of experience in mortgage lending and has trained various loan officers, originators, and processors.

  • Refinance

Compare our Top Mortgage Brokers

NameExpertise RatingAddressPromotionsLearn more
Benchmark Mortgage
5525 Speegleville Road, Woodway, TX 76712
Wallick & Volk
919 North Valley Mills Drive, Waco, TX 76710
McCulloch Mortgage Team
600 Lake Air Drive, Waco, TX 76710
The Koehn Mortgage Group
1600 Lake Air Drive, Waco, TX 76710

FAQs

  • Introduction

    It’s the American dream to buy property, and almost everyone who purchases a home does so with the help of a mortgage broker. It can be intimidating when you don’t know where to begin, what information is necessary, and how to receive a loan. A mortgage broker acts as an intermediary between the applicant and the financial institution.


    The mortgage broker’s role includes comparing loan terms across lenders to find applicants the best options, collecting paperwork the financial institution needs to analyze the application, and guiding the buyer through the underwriting and closing processes. Mortgage brokers can significantly simplify the home buying process.

  • Can mortgage brokers work across state lines?

    Yes, mortgage brokers can work across state lines. However, each state has different licensing requirements for mortgage brokers. Customers should ensure their broker can legally work in another state before going across state lines. Lastly, don’t forget the mortgage process is often time-sensitive, so being in different time zones can be problematic.

  • How do mortgage brokers find lenders?

    Mortgage brokers work independently and act as a bridge between the client and the lender. They reach out to several lenders to form a network and build professional relationships with those they work with often. They use lenders who best meet a client's rates and terms, and some lenders only do business through mortgage brokers.  

  • What credit score do mortgage brokers use?

    There are two credit scoring models in the United States: FICO and VantageScore. Mortgage lenders typically prefer to use FICO. However, each credit bureau uses a different version of the FICO score:

    • Experian uses FICO Score 2
    • Equifax uses FICO Score 5
    • TransUnion uses FICO Score 4

  • Do mortgage brokers help with refinancing?

    Yes, mortgage brokers can help with refinancing. Individuals who have a solid credit score will typically go to their bank to refinance their mortgage. However, if you don't have excellent credit, a mortgage broker may be able to secure you a better interest rate than you could get on your own.

    You pay a fee to the mortgage broker, so you'll want to consider this fee versus your savings in your cost-benefit analysis.
  • Can you work with two mortgage brokers?

    You can definitely work with two mortgage brokers. The advantage of using multiple brokers is that you'll have two people reaching out to several lenders to secure the best rate possible. However, you must ensure you provide matching information to all your brokers. If two brokers provide mismatched information about your application to the same lender, it can send off red flags and delay your approval process.

  • Do mortgage brokers get better deals?

    Yes, a mortgage broker should be able to get you a better deal. Mortgage brokers go to several lenders on your behalf and find the one with the best terms and interest rates. However, note that some mortgage brokers have preferred lenders. A broker may bring you their preferred lender's offer, even if it's not the best one; however, this isn't a regular practice.