The Best Mortgage Lenders in Abingdon, IL
Compare verified mortgage lenders serving Abingdon, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Abingdon
Featured Mortgage Lenders
Scott Bouslog
MidAmerica National Bank
MidAmerica National Bank is a highly-rated community bank with deep roots in Western Illinois, serving Abingdon and surrounding communities for nearly 30 years. They maintain exceptional 4.8-star ratings for their personalized mortgage services and local decision-making capabilities. As a community-focused institution, they offer competitive rates and work directly with borrowers throughout the entire mortgage process, providing the advantage of local underwriting and closing. Their mortgage specialists have extensive experience with rural property financing and first-time homebuyer programs suitable for the Abingdon market.
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Mortgage Department
CEFCU (Citizens Equity First Credit Union)
CEFCU is one of Illinois' largest and most respected credit unions with a strong presence throughout Central Illinois, including service to Abingdon residents. With outstanding 4.7-star ratings across multiple review platforms, CEFCU is renowned for competitive mortgage rates and exceptional member service. They offer a comprehensive range of mortgage products with particularly strong first-time homebuyer programs and digital mortgage application processes. Their long-standing reputation for financial stability and member-focused lending makes them a top choice for Abingdon homebuyers seeking reliable mortgage solutions.
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Scott Stevens
Galesburg Savings & Loan
Galesburg Savings & Loan has been serving the mortgage needs of Knox County and surrounding areas, including Abingdon, for over 135 years. They maintain excellent 4.6-star ratings for their local expertise and personalized service approach. As a community-focused lender, they specialize in understanding the unique aspects of rural and small-town property financing in Western Illinois. Their experienced mortgage team provides competitive rates with the advantage of local processing and underwriting, ensuring smooth closings and responsive communication throughout the homebuying process.
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Frequently Asked Questions
Common questions about mortgage lending in Abingdon, IL
What are the current mortgage rates like in Abingdon, IL?
Mortgage rates in Abingdon typically align with national averages but can vary slightly based on local lenders. As of recent trends, you can expect conventional 30-year fixed rates in the 6.5-7% range, though local credit unions like F&M Bank often offer competitive rates. It's best to compare offers from multiple Abingdon-area lenders since even small differences can significantly impact your payments.
Are there any first-time homebuyer programs specifically for Abingdon residents?
Yes, Abingdon homebuyers can access the Illinois Housing Development Authority's (IHDA) programs, including the 1stHomeIllinois loan with down payment assistance. Additionally, the City of Abingdon may occasionally offer local housing initiatives, so check with the Abingdon City Hall for any current programs. These programs can provide favorable terms and assistance with closing costs for qualifying buyers.
How does Abingdon's rural location affect mortgage lending options?
Abingdon's rural designation makes USDA loans an attractive option, offering 100% financing with no down payment required for eligible properties and borrowers. Some lenders may have specific rural lending programs with flexible credit requirements. However, you'll find fewer large national lenders operating locally, making community banks and credit unions particularly important mortgage sources.
What should I know about property taxes when getting a mortgage in Abingdon?
Knox County property taxes in Abingdon typically range from 1.8% to 2.2% of assessed value, which is moderate for Illinois. Your lender will factor these taxes into your monthly mortgage payment through an escrow account. It's wise to research the specific tax rates for your desired neighborhood, as they can vary slightly within the Abingdon area.
Are there any local considerations for manufactured home financing in Abingdon?
Yes, manufactured home financing in Abingdon requires special attention since not all lenders offer these loans. Local lenders familiar with Abingdon's housing market, like F&M Bank, often have specific programs for manufactured homes. The home must be permanently affixed to a foundation and meet HUD standards to qualify for traditional mortgage financing rather than personal property loans.
Nearby Cities
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Why Choose a Mortgage Lender in Abingdon?
Local Market Knowledge
Lenders who understand Abingdon'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 Illinois.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Abingdon and get competitive rates on your home loan.