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Reviewed by David Ghazaryan, Mortgage Broker, NMLS 1486726 · iQRATE Mortgages · Last updated: October 13, 2026
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An Amarillo mortgage broker compares many lenders for the FHA, VA, USDA, conventional and investor loans used in the Texas Panhandle. iQRATE Mortgages (NMLS 1862492) is licensed in Texas and shops more than 100 lenders on complex files. Amarillo straddles Potter and Randall counties, both with 2026 limits of $832,750 conforming and $541,287 FHA. The City of Amarillo's 2025 tax rate is $0.43070 per $100, and Amarillo ISD's is $0.87120.
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5.0 stars from 87 reviews on Experience.com (October 2026) · Read David's reviews on Experience.com
Amarillo's economy runs on beef and agriculture, health care, the Pantex plant and Bell's V-22 assembly work. Buyers include plant and hospital employees, ranch and feedlot families, and retirees. Because the city sits in two counties, the tax bill, appraisal district and even the school district depend on which side of the line the home is on.
Part of our Texas mortgage broker coverage. We're licensed in Texas under company NMLS 1862492 and work Amarillo files from our Las Vegas office, closing with local escrow and title.
Areas and ZIPs we lend in: central and north Amarillo (79107, 79108), Wolflin and Olsen Park (79106, 79109), southwest Amarillo and the Colonies (79119, 79124), south Amarillo (79110, 79118), Canyon (79015) and Bushland (79012).
Bushland, Canyon's outskirts and the areas toward Panhandle and Happy include homes on acreage with wells and septic systems. USDA loans may work for eligible addresses outside the city, and VA and FHA loans need the well and septic to pass inspection. Large outbuildings and agricultural use can limit which lenders will finance the home.
Federal contractor jobs, shift differentials and overtime are common in Amarillo. Lenders usually want a two-year history for overtime, and a new job offer letter can sometimes be used before your first paycheck.
Canyon, just south of Amarillo, is home to West Texas A&M University and Palo Duro Canyon State Park. Student and faculty rentals there are steady, and Canyon ISD's schools draw families to south Amarillo and Canyon.
Amarillo winters bring hard freezes, so inspectors check plumbing insulation, furnaces and foundations on older homes in north and central Amarillo. Budget for repairs that FHA and VA appraisers may require before closing.
The medical district along Wallace Boulevard and Coulter Street includes BSA Health System, Northwest Texas Healthcare System and the Texas Tech Health Sciences Center's Amarillo campus. Residents and nurses often buy in Wolflin, Olsen Park and southwest Amarillo for short commutes.
Central Amarillo along historic Route 66 and the San Jacinto neighborhood has early-1900s brick homes and bungalows priced well below newer suburbs. Renovation loans such as FHA 203(k) or Fannie Mae HomeStyle can fund updates, and a contractor's bid is needed before closing. Investors buying these homes for rentals should budget for foundation and sewer-line inspections, which are common findings in older Panhandle homes.
Texas basics that apply here: Texas has no transfer tax and no state income tax, and title insurance premiums are set by the Texas Department of Insurance. Property taxes are high and billed each October and paid in arrears, so lenders usually collect about 2–6 months of taxes into escrow at closing, depending on the closing month; the seller's prorated tax credit for the months they owned the home offsets part of that. Owner-occupants get the homestead exemption and a 10% cap on yearly appraisal increases after the first year. A cash-out loan on a homestead is limited to 80% of value under Section 50(a)(6). Statewide down payment help includes TSAHC (Homes for Texas Heroes, Home Sweet Texas) and TDHCA (My First Texas Home).
Closing costs are what it costs you to get the loan: origination, discount points, appraisal, and escrow and title. Cash to close also includes your prepaids (first-year homeowners insurance, daily interest to month-end, and an escrow deposit for your own future property taxes and insurance) plus your down payment. Prepaids aren't a cost of the loan; they're your own bills paid ahead. In Amarillo, property-tax escrow (often 2–6 months, partly offset by the seller's prorated tax credit) and the first year of homeowners insurance are the main prepaids; Panhandle wind and hail make roof condition a large factor in your insurance premium. Your actual closing costs depend on county, price and loan type, so we don't quote a one-size range: every line is itemized on your Loan Estimate, and our Bare Bones guarantee means we add no fees of our own. Compare states on our closing costs by state page.
Potter and Randall counties: conforming $832,750 and FHA $541,287 for a one-unit home (FHFA and HUD).
Conventional (as little as 3% down for eligible first-time buyers), FHA (3.5% down, 580+ score), VA (no down payment for eligible veterans with full entitlement), jumbo above the conforming limit, DSCR loans that qualify on rent, bank statement loans for self-employed borrowers, asset-based and 1099 loans, and rate-and-term or cash-out refinances. As a broker we compare wholesale lenders, more than 100 on complex files, instead of one bank's menu.
Terms for each are on its own page; see all iQRATE guarantees.
Both. North Amarillo is mostly in Potter County and south Amarillo in Randall County, and tax rates differ.
The 2025 city rate is $0.43070 per $100. School, county and other rates are added.
Possibly, for eligible rural addresses outside city limits such as parts of Bushland and Canyon's outskirts.
Usually with a two-year history of overtime.
$541,287 for a one-unit home. The conforming limit is $832,750.
The rates differ, so we compare the exact district for the address.
Closing costs depend on the price, loan type and county, so yours are itemized on your Loan Estimate rather than quoted as a range. Closing costs are what it costs to get the loan (origination, points, appraisal, escrow and title). Cash to close also includes prepaids and your down payment; in Amarillo, property-tax escrow (often 2–6 months, partly offset by the seller's prorated tax credit) and the first year of homeowners insurance are the main prepaids; Panhandle wind and hail make roof condition a large factor in your insurance premium.
Most of our loans close in under 30 days. For eligible full-documentation conventional, FHA and VA purchases, our goal is 17 calendar days from signing initial disclosures.
Get My Custom Rate Now · or call (702) 766-3744
iQRATE Mortgages · NMLS 1862492 · 6360 S Rainbow Blvd Ste 101, Las Vegas, NV 89118 · Licensed in Nevada, California, Texas and Florida. David Ghazaryan, Mortgage Broker, NMLS 1486726. Verify us on NMLS Consumer Access. Equal Housing Opportunity. Programs, rates and terms change and are subject to credit, property and underwriting approval; local facts on this page come from the public sources below and are not legal or tax advice.
More: Texas mortgage broker · DSCR loans · Bank statement loans · Our guarantees · Closing costs by state
