Which Loans Fit Your Qualifications?
Discuss your income, credit, and available funds. We can compare suitable programs and explain the payment and estimated cash to close before you rely on a purchase range.
Waco Home Loans and Refinance
Home Loans and Mortgage Guidance in Waco, TX
Buying or refinancing in Waco starts with a mortgage that fits your budget and plans. We compare wholesale lenders and explain your loan options, monthly payment, and closing costs so you can move forward with confidence.
Work directly with Chad Holte, NMLS #198303, a Certified Mortgage Advisor and Managing Broker of Dylken Home Loans, for straightforward guidance backed by 25+ years of mortgage experience.
Explore Mortgage Rates for Your Waco Home
Explore purchase and refinance pricing. Adjust your loan amount, down payment, and loan type, then compare rates alongside points and upfront costs.
Current Waco Mortgage Rates
Rates updated throughout each business day.
No credit check required.
Found a Waco Home You Like? Know What Comes Next.
Whether you are buying your first home, moving within the area, or purchasing near Baylor, connect the financing with the property before you commit. Start with these three questions.
Does the Home Fit the Financing?
Share the listing and tell us how you plan to use the home. Mention known repair concerns, rental plans, or anything unusual about the property early.
What Needs to Happen Before Closing?
Bring the contract deadlines into the conversation. If another home needs to sell or repairs must be addressed, we can discuss how those details affect the financing schedule.
Still exploring? Tell us about your plans, and we will help you understand where to start.
Home Loan Options for Your Waco Purchase
Your qualifications, available funds, and loan amount guide the comparison. We explain how these programs differ so you can choose with a clear understanding of the payment and costs.
Conventional Loans
A flexible option for first time and repeat buyers, with down payments as low as 3% for eligible borrowers. Strong credit can help make conventional financing attractive. A down payment below 20% typically requires private mortgage insurance.
Conventional Loans →FHA Loans
FHA financing may be a good fit if your credit history makes conventional financing harder to qualify for. Eligible buyers can put as little as 3.5% down. Upfront and ongoing mortgage insurance should be included when comparing the total cost.
FHA Loans →VA Loans
Eligible veterans, service members, and surviving spouses can use their VA benefit to buy a home, often without a down payment and with no monthly mortgage insurance. A VA funding fee may apply unless you qualify for an exemption.
VA Purchase Loans →Jumbo Loans
Financing for buyers who need to borrow more than the local conforming loan limit. Requirements vary by lender, making it especially useful to compare options. Your credit, down payment, and savings remaining after closing help determine which programs may fit.
Jumbo Loans →Waco Housing Market Snapshot
Redfin’s Waco market area · All home types · Three months ending September 2026
$274,869Median sale price
57 daysMedian days on market
$160Median sale price per sq ft
Source: Redfin’s Waco housing market report. Reviewed November 8, 2026. These figures describe the source’s market area and reporting period, not the value or selling timeline of an individual home.
Love the Home. Understand What Needs Fixing.
An established home with character and a freshly updated property can raise different questions. Separate the improvements you would like to make from conditions that could affect the financing.
Your plans for the home
Updates You Want to Make
Dated cabinets, paint colors, and finishes may be changes you can plan around. Cosmetic preferences alone do not automatically prevent financing.
Get realistic estimates for the updates you want and decide how you would pay for them. Do not assume a standard purchase mortgage includes a separate remodeling budget.
Ask: What can wait until after the move, and what will it cost?
Questions to raise early
Conditions to Discuss Before Closing
Known roof leaks, foundation concerns, or unsafe electrical conditions deserve early attention. Issues affecting safety, soundness, or structural integrity may require further evaluation or repairs.
Share what you know before assuming the home fits a particular loan. Requirements depend on the property, program, and lender.
Ask: Could this condition change the financing or closing schedule?
The Inspection and Appraisal Answer Different Questions.
Home inspection: Helps you understand the home’s condition and identify issues to discuss with the seller or a qualified specialist.
Appraisal: Supports the lender’s evaluation of value and applicable property requirements. It does not replace a home inspection or guarantee the home is free of defects.
Buying Near Baylor? Start With Who Will Live There.
A home for your own move, housing for a student, and a rental purchase can involve different financing. Explain the intended use before comparing loan options.
You Plan to Live There
Tell us when you expect to move in and whether you have another home. We will review the intended occupancy and the programs that may fit your purchase.
You Are Helping Someone Buy
Explain who will borrow, who will own the property, and who will live there. A parent’s purchase near campus does not automatically qualify as a primary residence or second home.
You Plan to Rent It Out
Discuss the proposed tenants, lease arrangement, and any rental income you hope to use for qualification. The lender needs to evaluate the actual plan rather than assume future rent supports the loan.
Check the Details Behind the Waco Address.
A few property checks can turn an early estimate into a more useful comparison. Use the address rather than a citywide assumption.
Property Taxes and Exemptions
Check McLennan Central Appraisal District records for the property and the assumptions behind the tax estimate. A seller’s exemptions may not apply to you. For new construction, confirm whether the estimate includes the completed home.
McLennan CAD Property Resources →School Assignment
Verify the district and assigned campus for the address and applicable school year. A Waco mailing address alone does not establish school assignment. Confirm directly with the district if the boundary information is unclear.
Waco ISD → Midway ISD →Insurance and Property Restrictions
Request insurance quotes for the actual home, including coverage and deductibles. Review association dues, known assessments, and restrictions that could affect your plans. Include these costs when comparing the full payment.
Guidance from search to closing
One Conversation.
More Mortgage Options.
Different lenders can approach pricing and qualifications differently. We compare suitable options across our wholesale lender network and explain the differences that affect your purchase or refinance.
See what each option means for your payment, upfront costs, and relevant loan features before deciding which approach fits your plans.
Already Have a Loan or Builder Offer?
Bring the written offer into the conversation. We can compare the rate, points, lender charges, and any mortgage insurance using consistent loan assumptions where practical.
Include any conditions attached to a builder incentive. If you are already under contract, we will also discuss whether the remaining closing timeline supports changing lenders.
Talk With UsStill Like Your Waco Home? Review Whether the Mortgage Fits.
Start with what you want a refinance to accomplish. Compare the proposed loan with keeping your existing mortgage, including costs and the time you expect to keep it.
Compare a Different Rate or Repayment Term
Review the payment, closing costs, remaining term, and total interest. For monthly savings, estimate how long those savings take to recover the costs. A longer repayment term can lower the payment while increasing interest paid over time.
Explore Rate and Term Refinance →Consider Equity for a Defined Purpose
An eligible cash out refinance can provide funds through a new mortgage. Compare the net proceeds with the amount needed and review the payment on the entire new loan balance. Texas property and program requirements apply.
Explore Cash Out Refinance →Keeping Your Current Mortgage Is Part of the Comparison
Consider the benefit you want, the cost of replacing the loan, and the time you expect to keep it. If taxes or insurance caused a payment increase, review those expenses separately. Refinancing does not remove them.
What real clients are saying
5.0
99 Google & Zillow Reviews
Google
Chad did a great job helping navigate through options. The fastest close we’ve ever had.
Google
This is our second time working with CHAD, his service is excellent. His attention to detail and caring for his customer is outstanding.
Google
I’ve been working with Chad for over 15 years on both new purchases and multiple refinances, and in all kinds of market conditions. I confidently refer friends and family to Chad at every opportunity. It’s fantastic to know that you’re always going to end up with extremely competitive rates, and the best possible service from beginning to end. Amazing work Chad and team!
13 days
Average Closing Time
Individual loan timelines vary.99
★★★★★Five Star Reviews
25+
Years of Mortgage Experience
Chad Holte, Managing BrokerWaco Mortgage Questions, Answered
Can I buy a Waco home that needs repairs?
Possibly. Cosmetic updating and conditions affecting safety, soundness, or structural integrity are evaluated differently. The property, loan program, and lender determine whether additional inspections or repairs are needed. Share the listing and known concerns early. Do not assume a standard purchase loan includes funds for improvements.
Does an appraisal replace a home inspection?
No. An appraisal supports the lender’s evaluation of value and applicable property requirements. A home inspection helps you understand the home’s condition and identify concerns that may need a specialist. An appraisal does not guarantee that a home is free of defects.
Which loan programs should I compare for my first purchase?
Compare the programs your qualifications support rather than assume a first purchase requires FHA financing. Conventional, FHA, and eligible VA options can differ in down payment, mortgage insurance, upfront costs, and monthly payment. We can explain suitable options using a consistent purchase scenario.
Can I help purchase a home for a student attending Baylor?
Potentially. Tell us who will be on the loan and title, who will occupy the home, and whether rooms or the property will be rented. Those details affect the financing review. Buying near Baylor or helping a family member does not automatically establish primary residence or second home eligibility.
What should I discuss if I plan to rent the property?
Explain the intended rental use before choosing financing, including any rental income you hope to use for qualification. Separately confirm city requirements and any association restrictions. Waco requires a license for short term rentals, and some situations require a special permit. Mortgage approval does not grant permission to operate a rental.
What information should I have available if I am already under contract?
Have the signed purchase contract, property address, closing date, and relevant deadlines available. Share any written loan or builder offer and known property concerns. Tell us about another home you need to sell or other circumstances that could affect the schedule. We will explain the supporting records needed for your situation.
How should I compare a refinance with keeping my current loan?
Start with the goal and compare the proposed payment, closing costs, remaining repayment period, and total interest with the existing mortgage. For monthly savings, estimate how long savings take to recover the costs. Consider how long you expect to keep the new loan. A lower payment alone does not establish a lower overall cost.
Local Guides
Waco Home Buying Resources
Local guides and answers for buying and owning a home in Waco.
Statewide Guides
Helpful Texas Home Buying Resources
Statewide guides that apply across every Texas market, Waco included.
Your next step
Your Waco Home.
Financing You Can Understand.
Tell us about the home you want to buy or the mortgage you want to review. We will help you understand your options and what to do next.