The Best Mortgage Lenders in Summerfield, FL
Compare verified mortgage lenders serving Summerfield, Florida. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Summerfield
Featured Mortgage Lenders
John Smith (Branch Manager)
The Mortgage Firm - Ocala
The Mortgage Firm is a highly-rated local mortgage broker with a strong presence in the Ocala area, serving Summerfield directly. With over 25 years in business, they are known for personalized service, competitive rates, and expertise in various loan types, including VA and FHA loans popular in the region. Their high customer satisfaction ratings stem from a commitment to transparent processes and local market knowledge, making them a top choice for homebuyers in Marion County.
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Maria Gonzalez (Loan Officer)
New American Funding - Ocala
New American Funding is a reputable national lender with a dedicated Ocala branch that actively serves the Summerfield community. Founded in 2003, they offer a wide range of loan products and are praised for their competitive rates, efficient processing, and strong customer support. Their focus on diversity and community involvement, coupled with high ratings for reliability and ease of application, makes them a trusted option for mortgages in the area.
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Robert Johnson (Senior Loan Officer)
Movement Mortgage - Ocala
Movement Mortgage is a well-regarded regional lender with a strong local presence in Ocala, extending services to Summerfield homebuyers. Established in 2008, they are known for their quick loan approvals, community-focused approach, and excellent customer service. Their emphasis on streamlining the mortgage process and offering competitive rates has earned them high marks from clients, solidifying their reputation as a reliable choice in the Marion County market.
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Frequently Asked Questions
Common questions about mortgage lending in Summerfield, FL
What are the current mortgage rates like for homebuyers in Summerfield, FL?
Mortgage rates in Summerfield typically align with national averages but can vary based on local lender competition and property types common in Marion County. Currently, rates for 30-year fixed mortgages range from 6.5% to 7.25% depending on credit score and loan terms. It's advisable to compare rates from both local Florida credit unions and national lenders serving the Ocala metropolitan area.
Are there any first-time homebuyer programs specifically available in Summerfield?
Yes, Summerfield homebuyers can access Florida Housing Finance Corporation's first-time buyer programs, which offer competitive interest rates and down payment assistance. Additionally, Marion County offers the HOME Partnership Program providing up to $20,000 in down payment assistance for qualified buyers. These programs are particularly valuable given Summerfield's growing popularity as an affordable retirement and family community.
How do Summerfield's property types affect mortgage lending options?
Summerfield features many manufactured homes and older properties, which can impact lending options. Traditional mortgages work well for site-built homes, but manufactured homes may require specialized loans like FHA Title I or Chattel loans. Lenders often require additional inspections for older properties common in Summerfield's established neighborhoods, which can affect appraisal values and loan terms.
What unique closing costs should I expect when getting a mortgage in Summerfield?
Summerfield homebuyers should budget for Florida-specific costs including documentary stamp taxes, intangible tax on mortgages, and Marion County recording fees. Typical closing costs range from 2-5% of the home price, with title insurance being particularly important given Florida's unique legal environment. Many Summerfield properties also require specific inspections for septic systems and wells, which are common in this semi-rural area.
How does Summerfield's location in a flood zone affect mortgage requirements?
While much of Summerfield sits at higher elevations, some areas near Lake Weir or low-lying properties may require flood insurance. Lenders will order a flood certification during processing, and if your property is in a Special Flood Hazard Area, you'll need flood insurance to secure financing. This is an important consideration since flood insurance can add $500-$2,000 annually to your housing costs in affected areas of Summerfield.
Why Choose a Mortgage Lender in Summerfield?
Local Market Knowledge
Lenders who understand Summerfield'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 Summerfield and get competitive rates on your home loan.