The Best Mortgage Lenders in Old Town, FL
Compare verified mortgage lenders serving Old Town, Florida. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Old Town
Featured Mortgage Lenders
Suncoast Credit Union
Suncoast Credit Union
As Florida's largest credit union with over 85 years of service, Suncoast Credit Union consistently ranks among the top mortgage lenders in the state. They maintain an exceptional 4.8-star rating across multiple review platforms with particular strength in customer service and competitive rates. While based in Clearwater, they serve members throughout Florida including Old Town and surrounding rural communities. Their mortgage specialists are known for personalized service and expertise with various loan types including specialized rural housing programs that benefit Old Town residents.
Loan Types:
CenterState Bank (now SouthState Bank)
SouthState Bank, N.A.
With deep roots in North Central Florida dating back to 1934, SouthState Bank (formerly CenterState) has extensive experience serving rural communities like Old Town. They maintain a 4.7-star rating with particular praise for their local decision-making and understanding of rural property financing. Their Ocala branch location provides convenient access for Old Town residents while offering competitive rates and specialized knowledge of the local real estate market. Customers consistently highlight their responsive service and expertise with agricultural and rural property loans.
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Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage maintains an exceptional 4.9-star rating with numerous awards for customer satisfaction. Their Gainesville office specifically serves North Central Florida including Old Town, with loan officers who specialize in rural property financing and USDA loans that are particularly relevant to the Old Town area. Founded in 1996, they've built a reputation for competitive rates, fast closings, and exceptional customer service. Reviewers consistently praise their communication, transparency, and ability to handle complex rural property transactions efficiently.
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Frequently Asked Questions
Common questions about mortgage lending in Old Town, FL
What are the typical mortgage rates available in Old Town, FL?
Mortgage rates in Old Town are generally competitive with national averages but can vary based on property type and location within Citrus County. For conventional 30-year fixed loans, rates typically range from 6.5% to 7.5% as of current market conditions. Local lenders familiar with Old Town's rural character may offer slightly better terms than national banks.
Are there any special mortgage considerations for buying a home with land in Old Town?
Yes, many properties in Old Town include significant acreage, which requires special lending considerations. Lenders may require additional appraisals and might limit loan-to-value ratios for properties with extensive land. It's important to work with lenders experienced in rural properties who understand how to properly value both the home and land components.
What first-time homebuyer programs are available specifically for Old Town residents?
Old Town homebuyers can access Florida Housing Finance Corporation's first-time buyer programs, which offer competitive rates and down payment assistance. Additionally, Citrus County occasionally offers local assistance programs, and USDA loans are particularly relevant given Old Town's rural designation, offering 100% financing options for qualified buyers.
How does Old Town's flood zone designation affect mortgage requirements?
Given Old Town's proximity to the Withlacoochee River and numerous springs, many properties require flood insurance. Lenders will mandate flood insurance for homes in designated flood zones, which can add $500-$2,000 annually to housing costs. It's crucial to check FEMA flood maps and factor this into your mortgage budgeting.
What should I know about manufactured home financing in Old Town?
Old Town has many manufactured homes, which require specialized financing different from traditional mortgages. These typically involve higher interest rates, shorter loan terms (15-20 years), and require the home to be on a permanent foundation. Local credit unions and specialized lenders often offer the best terms for manufactured homes in this area.
Why Choose a Mortgage Lender in Old Town?
Local Market Knowledge
Lenders who understand Old Town'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 Florida.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Old Town and get competitive rates on your home loan.