The Best Mortgage Lenders in Bluford, IL
Compare verified mortgage lenders serving Bluford, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Bluford
Featured Mortgage Lenders
Mortgage Solutions Team
First Mid Bank & Trust
First Mid Bank & Trust is a highly-rated regional bank with deep roots in Southern Illinois, serving the Bluford area through their Mt. Vernon location just 15 miles away. With over 150 years of community banking experience, they offer personalized mortgage services with local decision-making. Customers consistently praise their competitive rates, transparent process, and exceptional customer service. Their mortgage team specializes in rural property financing, making them an ideal choice for Bluford residents seeking USDA and FHA loans with local expertise.
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Mortgage Department
Gateway Mortgage Group
Gateway Mortgage Group maintains a strong presence in Southern Illinois with excellent ratings for their comprehensive mortgage services. While based in Fairview Heights, they actively serve the Bluford area with specialized knowledge of rural Illinois property financing. They're particularly noted for their first-time homebuyer programs and competitive USDA loan options. Customers highlight their responsive communication, streamlined application process, and ability to close loans efficiently even in rural markets like Jefferson County.
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Illinois Mortgage Team
CrossCountry Mortgage
CrossCountry Mortgage operates a highly-rated Southern Illinois branch that serves the Bluford area with exceptional mortgage services. They combine national lending power with local expertise, offering some of the most competitive rates in the region. Specializing in rural and suburban property financing, they have extensive experience with USDA loans perfect for Bluford's market. Their team receives consistent praise for personalized service, extensive loan options, and expertise in navigating complex rural property transactions common in Jefferson County.
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Frequently Asked Questions
Common questions about mortgage lending in Bluford, IL
What are the current average mortgage rates available to homebuyers in Bluford, IL?
Mortgage rates in Bluford typically align with national averages but can vary slightly based on local lender competition. As of late 2023, 30-year fixed rates in Jefferson County generally range from 6.5% to 7.25%, though rural property loans might be slightly higher. It's best to compare rates from local banks and credit unions like First National Bank in Mount Vernon for the most competitive offers.
Are there any special down payment assistance programs for first-time homebuyers in Bluford?
Yes, Illinois Housing Development Authority (IHDA) programs are available to Bluford residents, including the 1stHomeIllinois program offering up to $7,500 in down payment assistance. Jefferson County also has local programs through community development organizations that can help with closing costs. These programs are particularly valuable given Bluford's median home prices being below state averages.
How does Bluford's rural location affect the mortgage approval process?
Bluford's rural classification can impact appraisals since comparable properties might be limited, potentially requiring appraisers to look at nearby towns like Mount Vernon or Benton. USDA loans are particularly advantageous here, offering 100% financing with no down payment required for eligible properties and borrowers. Some lenders may require additional documentation for rural property assessments.
What types of properties typically qualify for USDA loans in the Bluford area?
Most properties in and around Bluford qualify for USDA rural development loans since the entire area meets USDA eligibility criteria. This includes single-family homes, manufactured homes with permanent foundations, and condos that meet program requirements. The property must be in a designated rural area and meet minimum property standards, which most Bluford homes easily satisfy.
Are property taxes in Bluford typically included in mortgage escrow accounts?
Yes, most lenders in Jefferson County require escrow accounts for property taxes and homeowners insurance, which are included in your monthly mortgage payment. Bluford's property tax rates are generally lower than state averages, currently around 1.8-2.2% of assessed value. Your lender will estimate these costs based on Jefferson County's tax assessment schedules and include them in your payment calculations.
Why Choose a Mortgage Lender in Bluford?
Local Market Knowledge
Lenders who understand Bluford'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 Bluford and get competitive rates on your home loan.