The Best Mortgage Lenders in Limon, CO
Compare verified mortgage lenders serving Limon, Colorado. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Limon
Featured Mortgage Lenders
First National Bank of Limon
First National Bank of Limon
As the only locally-owned bank based directly in Limon, First National Bank of Limon offers unparalleled community knowledge and personalized service. With over a century of serving Eastern Colorado communities, they provide deep understanding of local property values and rural lending needs. Their mortgage team offers competitive rates with flexible terms tailored to agricultural and rural properties, making them the top choice for Limon residents seeking local expertise and long-term relationships.
Loan Types:
ENT Credit Union
ENT Credit Union
ENT Credit Union is one of Colorado's largest and most respected credit unions with extensive mortgage lending experience across Eastern Colorado. They serve Limon residents with competitive rates and member-focused service. Known for their first-time homebuyer programs and exceptional customer service, ENT offers digital mortgage applications while maintaining personal touchpoints. Their strong community presence and not-for-profit structure often result in lower fees and better terms for borrowers in rural areas like Limon.
Loan Types:
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation - Colorado Springs Branch
Fairway Independent Mortgage Corporation is a nationally recognized mortgage lender with a strong Colorado presence that actively serves Limon and Eastern Colorado. Their Colorado Springs branch has extensive experience with rural properties and agricultural lending needs specific to the Limon area. They consistently receive top ratings for their competitive rates, efficient processing, and exceptional customer service. With numerous industry awards and specialized loan programs for rural communities, they provide comprehensive mortgage solutions with the reliability of a national lender combined with local market expertise.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Limon, CO
What are current mortgage rates like in Limon, Colorado compared to the state average?
Mortgage rates in Limon typically align closely with Colorado state averages, though rural areas sometimes see slightly higher rates due to smaller lender competition. As of recent data, you can expect 30-year fixed rates around 6.5-7% in Limon, but working with local lenders who understand the Eastern Plains market can sometimes secure more competitive terms.
Are there any special loan programs for first-time homebuyers in Limon?
Yes, Limon homebuyers can access Colorado Housing and Finance Authority (CHFA) programs, which offer down payment assistance and competitive rates specifically for first-time buyers. Additionally, some local lenders may offer special programs for essential workers like teachers, healthcare professionals, and agricultural workers who are important to Limon's community.
How does Limon's rural location affect the mortgage approval process?
Limon's rural classification can impact appraisals, as comparable properties might be limited in the immediate area. Lenders may require appraisers familiar with Eastern Colorado rural properties, and you might need to provide additional documentation about the property's condition, especially for older homes common in Limon's historic districts.
What should I know about property taxes and insurance when getting a mortgage in Limon?
Lincoln County property taxes in Limon are generally lower than urban Front Range areas, typically around 0.5-0.6% of assessed value. However, you should budget for higher homeowners insurance due to Limon's exposure to severe weather patterns, including hail and high winds, which can add $100-300 annually to your mortgage payment.
Are USDA loans available in Limon, and would I qualify?
Yes, Limon qualifies for USDA rural development loans, which offer 100% financing with no down payment required. Given Limon's designation as a rural community and income limits that accommodate most local earners, many buyers in the area can qualify for these advantageous loans, making homeownership more accessible.
Why Choose a Mortgage Lender in Limon?
Local Market Knowledge
Lenders who understand Limon's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Colorado.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Limon and get competitive rates on your home loan.