The Best Mortgage Lenders in Ashmore, IL
Compare verified mortgage lenders serving Ashmore, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Ashmore
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a highly-rated national mortgage lender with a strong Illinois presence, known for its competitive rates, digital mortgage platform, and exceptional customer service. They have numerous positive reviews for their efficient processing and wide loan variety, serving Ashmore through local loan officers and online tools. Their long track record and high customer satisfaction make them a top choice for homebuyers in the region.
Loan Types:
New American Funding
New American Funding
New American Funding is renowned for its customer-centric approach and diverse loan programs, including options for first-time homebuyers and underserved communities. With high ratings for reliability and service, they operate nationwide and have a dedicated team serving Illinois, including Ashmore. Their competitive rates and strong community involvement contribute to their excellent reputation.
Loan Types:
CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage is a well-established lender praised for personalized service and a broad range of mortgage products. They have a significant Midwest presence and are known for their flexibility and fast closings, making them a reliable option for Ashmore residents. High customer reviews highlight their professionalism and ability to handle unique financing needs.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Ashmore, IL
What are the current mortgage rates like for homes in Ashmore, IL?
Mortgage rates in Ashmore are generally competitive with national averages but can vary based on the lender and your financial profile. Local lenders familiar with Coles County may offer specialized rates or terms. It's wise to compare offers from both local credit unions and larger banks to secure the best rate.
Are there any first-time homebuyer programs available specifically in Ashmore?
Yes, Ashmore homebuyers can access the Illinois Housing Development Authority (IHDA) programs, such as the 1stHomeIllinois loan, which offers competitive interest rates and down payment assistance. These programs are available statewide and can be particularly helpful given Ashmore's affordable housing market compared to larger Illinois cities.
How does Ashmore's rural location affect the mortgage process?
Ashmore's rural setting may require additional steps, such as ensuring the property meets USDA loan eligibility if you're considering a USDA Rural Development loan. Some lenders might also order more detailed appraisals due to the unique nature of rural properties, which can slightly extend the closing timeline.
What types of properties in Ashmore are eligible for USDA loans?
Most homes in Ashmore qualify for USDA loans due to the town's rural designation. Eligible properties include single-family homes that are modest in size, cost, and design, and are located within USDA-approved areas. This loan type is popular here as it requires no down payment for qualified buyers.
Are property taxes in Ashmore typically included in the mortgage payment?
Yes, most lenders in Ashmore will include property taxes in your monthly mortgage payment through an escrow account. Coles County property taxes are generally reasonable, but your lender will estimate these based on the home's assessed value and include them to ensure they are paid on time.
Why Choose a Mortgage Lender in Ashmore?
Local Market Knowledge
Lenders who understand Ashmore'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 Ashmore and get competitive rates on your home loan.