The Best Mortgage Lenders in Barry, IL
Compare verified mortgage lenders serving Barry, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Barry
Featured Mortgage Lenders
Lender 1
Lender 1
Top-rated mortgage lender serving Barry, Illinois.
Loan Types:
Adams Bank & Trust
Adams Bank & Trust - Mortgage Division
Adams Bank & Trust is a highly-regarded regional lender based in Quincy, approximately 30 miles from Barry, with exceptional 4.8-star ratings across multiple review platforms. They've been serving western Illinois communities for over 25 years with personalized mortgage services and competitive rates. Their local underwriting and decision-making process allows for faster closings and personalized service. They specialize in rural housing loans and USDA programs that benefit Barry area residents, and their experienced loan officers have deep knowledge of local property markets.
Loan Types:
First Mid Bank & Trust
First Mid Bank & Trust - Mortgage Services
First Mid Bank & Trust maintains a strong presence throughout central Illinois with multiple branches serving the Barry area. With a 4.7-star rating and over 120 reviews, they're praised for their responsive service and competitive mortgage products. Their local loan officers understand the unique aspects of Pike County and surrounding rural markets. They offer specialized first-time homebuyer programs and have extensive experience with agricultural and rural property financing. Customers consistently highlight their straightforward process and knowledgeable staff.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Barry, IL
What are the current mortgage rates like for homes in Barry, IL?
Mortgage rates in Barry typically align with national averages but can be slightly lower due to the area's rural classification and lower cost of living. As of recent trends, 30-year fixed rates in Pike County generally range from the mid-6% to low-7% range, but it's best to check with local lenders like First State Bank of Illinois or Farmers State Bank for the most current Barry-specific rates.
Are there any first-time homebuyer programs specifically available in Barry?
Yes, Barry homebuyers can access the Illinois Housing Development Authority's (IHDA) programs, including the 1stHomeIllinois loan with down payment assistance. Additionally, some local lenders may offer special programs for Barry residents, particularly given the town's eligibility for certain rural development incentives through USDA loans, which are popular in this area.
How does Barry's rural location affect my mortgage options?
Barry's rural setting makes you potentially eligible for USDA loans, which offer 100% financing with no down payment required. Many properties in and around Barry qualify for these USDA Rural Development loans, which can be particularly advantageous given the area's agricultural surroundings and moderate home prices compared to urban Illinois markets.
What should I know about property taxes when getting a mortgage in Barry?
Barry property taxes in Pike County are generally lower than state averages, currently around 1.5-2.0% of assessed value. When calculating your mortgage payment, expect to escrow approximately $800-$1,200 annually for taxes on a typical $100,000 home in Barry, though exact amounts vary by specific property location and school district.
Are there local Barry lenders who understand the specific market conditions here?
Yes, working with community lenders like First State Bank of Illinois or Liberty Savings Bank in nearby Pittsfield can be beneficial as they have extensive experience with Barry's unique market. These local institutions understand the area's stable but slower-paced real estate market, seasonal employment patterns, and can provide personalized service for Barry-specific property types and values.
Why Choose a Mortgage Lender in Barry?
Local Market Knowledge
Lenders who understand Barry'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 Barry and get competitive rates on your home loan.