The Best Mortgage Lenders in Felton, DE
Compare verified mortgage lenders serving Felton, Delaware. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Felton
Featured Mortgage Lenders
Dover Federal Credit Union
Dover Federal Credit Union
Dover Federal Credit Union stands out as one of the most highly-rated mortgage lenders serving the Felton area with exceptional customer satisfaction ratings. As a longstanding local financial institution with deep roots in Kent County, they offer personalized service and competitive rates. Their mortgage team provides comprehensive guidance through the entire home buying process, with special expertise in first-time homebuyer programs and government-backed loans. Members consistently praise their responsive service, transparent communication, and local decision-making capabilities that streamline the mortgage approval process.
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1st Priority Mortgage
1st Priority Mortgage, Inc.
1st Priority Mortgage has built an outstanding reputation throughout central Delaware with near-perfect customer ratings and extensive experience serving Felton and surrounding communities. This locally-owned mortgage brokerage excels at finding competitive rates and tailored loan solutions for diverse financial situations. Their team of experienced loan officers provides personalized attention throughout the mortgage process, with particular strength in VA loans and first-time homebuyer programs. Customers consistently highlight their professionalism, attention to detail, and ability to close loans efficiently.
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Fulton Bank
Fulton Bank, N.A.
Fulton Bank brings substantial regional banking expertise to the Felton market with a strong local presence and comprehensive mortgage services. As an established financial institution with deep roots in the Mid-Atlantic region, they offer competitive mortgage products backed by local decision-making and personalized service. Their experienced mortgage specialists provide guidance on various loan programs with particular strength in construction lending and conventional mortgages. The bank receives consistent praise for their professional loan officers, straightforward application process, and commitment to customer satisfaction throughout Kent County.
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Frequently Asked Questions
Common questions about mortgage lending in Felton, DE
What are the current mortgage rates like in Felton, DE, and how do they compare to the state average?
Mortgage rates in Felton are generally competitive with statewide Delaware averages, often slightly lower than in more urban areas like Wilmington due to different risk assessments. As of late 2023, rates for a 30-year fixed mortgage in Felton typically range from 6.5% to 7.25%, but it's best to check with local lenders for real-time quotes. Kent County's stable housing market helps maintain reasonable rate offerings.
Are there any first-time homebuyer programs specifically available for Felton residents?
Yes, Felton homebuyers can access the Delaware State Housing Authority's (DSHA) First-Time Homebuyer Program, which offers competitive interest rates and down payment assistance. Additionally, Kent County offers the "Hometown Heroes" program that provides special benefits for teachers, healthcare workers, and first responders purchasing in Felton. These programs can significantly reduce upfront costs for qualified buyers.
How does Felton's rural location affect mortgage lending requirements and property types?
Felton's rural character means lenders may have specific requirements for properties with well and septic systems, which are common in the area. You'll typically need additional inspections and certifications for these systems before loan approval. USDA loans are particularly popular in Felton since much of the area qualifies for USDA rural development programs with zero down payment options.
What unique closing costs should I expect when getting a mortgage in Felton?
Beyond standard closing costs, Felton homebuyers should budget for Kent County-specific fees including transfer taxes (typically split between buyer and seller) and recording fees. Well and septic inspections add $400-$600 to closing costs, and if you're buying in one of Felton's newer developments, you might encounter homeowner association fees and related assessments. Local lenders can provide detailed estimates specific to your property.
How long does the mortgage approval process typically take in Felton's real estate market?
The mortgage process in Felton typically takes 30-45 days from application to closing, which aligns with Delaware's average timeframe. However, properties requiring well/septic inspections or those in more rural parts of Felton might add 5-10 business days to the timeline. Working with lenders familiar with Kent County's specific requirements can help streamline the process.
Why Choose a Mortgage Lender in Felton?
Local Market Knowledge
Lenders who understand Felton'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 Delaware.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Felton and get competitive rates on your home loan.