The Best Mortgage Lenders in Rexburg, ID
Compare verified mortgage lenders serving Rexburg, Idaho. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Rexburg
Featured Mortgage Lenders
Mountain America Credit Union Mortgage Team
Mountain America Credit Union
Mountain America Credit Union stands as Rexburg's premier local mortgage lender with deep community roots and exceptional member satisfaction. As a not-for-profit financial cooperative, they offer highly competitive rates and personalized service through their local Rexburg branch. Their mortgage team specializes in first-time homebuyer programs and offers digital mortgage applications with local underwriting. With consistently high ratings for customer service and loan processing efficiency, they provide the advantage of local decision-making combined with the resources of a major regional financial institution serving Eastern Idaho.
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Idaho Central Credit Union Mortgage Department
Idaho Central Credit Union
Idaho Central Credit Union maintains a strong physical presence in Rexburg with dedicated mortgage specialists who understand the local real estate market. As one of Idaho's largest credit unions, they combine local service with extensive mortgage resources, offering competitive rates particularly for members. Their digital mortgage platform streamlines the application process while maintaining personal touchpoints with local loan officers. ICCU receives consistently high marks for their responsive communication, flexible loan options, and expertise with rural development loans that are particularly relevant to the Rexburg area.
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Altius Mortgage Group
Altius Mortgage
Altius Mortgage operates as Rexburg's top-rated independent mortgage broker, offering access to multiple lending sources and highly competitive rates. Their local team provides personalized mortgage consulting with exceptional attention to detail throughout the entire loan process. Specializing in creative financing solutions for unique situations, they've built a reputation for successfully navigating complex loan scenarios while maintaining excellent communication. Their high rating reflects consistent customer satisfaction with their expertise in Eastern Idaho's specific market conditions and their ability to secure favorable terms for buyers in the Rexburg area.
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Frequently Asked Questions
Common questions about mortgage lending in Rexburg, ID
What are the current average mortgage rates in Rexburg, and how do they compare to the rest of Idaho?
Mortgage rates in Rexburg are typically very competitive and often align closely with the Idaho state average. As of late 2023, rates for a 30-year fixed mortgage in the area generally range from the high 6% to low 7% APR, but can vary based on the lender and your financial profile. It's wise to compare offers from local credit unions like East Idaho Credit Union, as they sometimes offer special promotions for residents.
Are there any first-time homebuyer programs in Rexburg that can help with a down payment?
Yes, the Idaho Housing and Finance Association (IHFA) offers several programs, like the First Loan and Second Loan programs, which are accessible to Rexburg homebuyers. These can provide competitive interest rates and down payment assistance, which is particularly helpful in a market where saving for a down payment can be a challenge for first-time buyers, including many students and young families in the area.
How does the presence of Brigham Young University-Idaho (BYU-I) impact the Rexburg mortgage and housing market?
BYU-Idaho's large student population creates a consistent, high demand for rental properties, making it an attractive market for investment property loans. For primary residence buyers, this can mean more competition for single-family homes, especially those closer to campus. Lenders in Rexburg are familiar with this dynamic and may offer specific loan products tailored for both primary residences and investment properties in a college town.
What unique closing costs or fees should I expect when getting a mortgage in Rexburg?
In addition to standard closing costs, you should budget for a title search and insurance specific to Madison County. Property taxes in Idaho are based on the home's assessed value, and you may need to pre-pay these at closing. It's also common in Rexburg to see well and septic inspections for properties outside the main city sewer lines, which can add to your upfront costs.
Is it difficult to get a USDA loan in the Rexburg area due to its classification as a rural area?
Quite the opposite—Rexburg and much of Madison County are eligible for USDA loans, which offer 100% financing with no down payment. This is a major advantage for eligible buyers with moderate incomes, as it makes homeownership more accessible. You should check the USDA eligibility map for the specific property, but most areas in and around Rexburg qualify, making it a popular loan choice here.
Why Choose a Mortgage Lender in Rexburg?
Local Market Knowledge
Lenders who understand Rexburg'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 Idaho.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Rexburg and get competitive rates on your home loan.