The Best Mortgage Lenders in Assumption, IL
Compare verified mortgage lenders serving Assumption, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Assumption
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated national mortgage lender with a strong local presence in central Illinois, including service to Assumption. Founded in 2000, it has built a reputation for competitive rates, efficient online application processes, and exceptional customer service. With over 24 years of experience, the company offers a wide range of loan products and is known for its transparency and quick closing times. Their Springfield office provides personalized service to rural areas like Assumption, backed by high customer satisfaction scores and numerous industry awards.
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New American Funding
New American Funding
New American Funding is a highly regarded mortgage lender that serves Assumption and surrounding areas in Illinois with a focus on diversity and community inclusion. Founded in 2003, it has earned a 4.8 rating for its competitive rates, flexible loan options, and dedicated customer support. The company specializes in helping first-time homebuyers and offers down payment assistance programs. With 21 years of experience, it maintains a strong track record for reliability and has received accolades for its service to underserved markets, making it a trusted choice for central Illinois residents.
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CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage is a reputable national lender with a significant presence in Illinois, providing reliable mortgage services to Assumption and nearby communities. Established in 2003, it boasts a 4.6 rating for its personalized approach, competitive rates, and extensive loan portfolio. With 21 years of experience, the company emphasizes customer education and support, ensuring smooth transactions for home purchases and refinances. Its network of local professionals offers tailored solutions, and it is praised for its responsiveness and integrity in serving rural and urban clients alike.
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Frequently Asked Questions
Common questions about mortgage lending in Assumption, IL
What are the current mortgage rates like for homes in Assumption, IL?
Mortgage rates in Assumption typically align with national averages but can be influenced by local economic factors. Currently, rates for a 30-year fixed mortgage in the area range from the mid-6% to low-7% range, though individual rates depend on credit score, loan type, and down payment. Working with a local lender who understands the Assumption market can help you secure the most competitive rate.
Are there any first-time homebuyer programs specific to Assumption that can help with down payments?
Yes, first-time homebuyers in Assumption can access the Illinois Housing Development Authority's (IHDA) programs, which offer down payment assistance and affordable fixed-rate mortgages. These programs are particularly valuable in Assumption's affordable housing market, where median home prices are below state averages. Local lenders can help you determine eligibility for IHDA's 1stHomeIllinois or Access Forgivable programs.
How does Assumption's rural location affect my mortgage options?
Assumption's rural designation makes you potentially eligible for USDA loans, which offer 100% financing with no down payment required. This is a significant advantage given the area's agricultural surroundings and can make homeownership more accessible. Additionally, some lenders may offer specialized rural housing loans with favorable terms for Assumption residents.
What should I know about property taxes when getting a mortgage in Assumption?
Christian County, where Assumption is located, has relatively moderate property tax rates compared to other Illinois counties, typically around 1.5-2.0% of assessed value. When calculating your mortgage payment, lenders will include these taxes in your escrow account. It's important to factor in this cost, as it affects your overall housing affordability in the Assumption area.
Are there any local mortgage lenders in Assumption that understand the specific market conditions?
While Assumption itself has limited brick-and-mortar lenders, several regional banks and credit unions in nearby cities like Taylorville and Decatur specialize in serving the Assumption market. These local institutions often have better understanding of property values in the area and may offer more flexible underwriting for Assumption's unique housing stock, which includes many older, character homes.
Why Choose a Mortgage Lender in Assumption?
Local Market Knowledge
Lenders who understand Assumption'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 Assumption and get competitive rates on your home loan.