The Best Mortgage Lenders in Cambria, IL
Compare verified mortgage lenders serving Cambria, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Cambria
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated national mortgage lender with a strong presence in Illinois, serving Cambria and surrounding areas. Known for competitive rates, digital efficiency, and exceptional customer service, they offer a wide range of loan products and have consistently high ratings for their streamlined application process and personalized support. Their long-standing reputation and numerous industry awards make them a trusted choice for homebuyers in Southern Illinois.
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CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage is a highly-rated lender with a robust network of local agents serving Cambria and the Southern Illinois region. They are praised for their community-focused approach, flexible loan options, and dedicated customer service. With a emphasis on education and guidance, they help borrowers navigate the mortgage process smoothly, backed by strong reviews for reliability and competitive financing solutions.
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New American Funding
New American Funding
New American Funding is a reputable national lender with a significant presence in Illinois, offering tailored mortgage solutions for Cambria residents. They are recognized for their diversity initiatives, competitive rates, and excellent customer support, particularly for first-time homebuyers and underserved communities. High customer satisfaction ratings highlight their commitment to transparency and efficient loan processing.
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Frequently Asked Questions
Common questions about mortgage lending in Cambria, IL
What are the current average mortgage rates for homebuyers in Cambria, IL?
Mortgage rates in Cambria typically align with national averages but can vary slightly based on local lenders and property types. As of recent data, 30-year fixed rates generally range between 6.5% and 7.25%, though local credit unions like First Southern Bank may offer competitive rates. It's best to get personalized quotes from multiple Cambria-area lenders since rates can change weekly.
Are there any first-time homebuyer programs specifically available in Cambria?
Yes, first-time homebuyers in Cambria can access Illinois Housing Development Authority (IHDA) programs like the 1stHomeIllinois loan, which offers competitive interest rates and down payment assistance. Additionally, some local lenders may offer special programs for Williamson County residents. These programs can be particularly helpful given Cambria's affordable housing market compared to larger Illinois cities.
How does Cambria's rural location affect the mortgage process?
Cambria's rural setting can impact appraisals since comparable properties might be limited, potentially requiring appraisers to look at nearby communities like Marion or Herrin. USDA loans are particularly relevant here, offering 100% financing for eligible properties in designated rural areas. Some lenders might have specific requirements for rural property inspections and well/septic systems.
What types of properties are most common in Cambria's mortgage market?
Cambria's mortgage market primarily consists of single-family homes, many of which are older properties built before 1980. You'll also find manufactured homes on owned land, which require specific loan programs. Given the area's mining history, some lenders may require additional inspections for properties with potential subsidence concerns.
Are there any local property tax considerations I should know about when getting a mortgage in Cambria?
Williamson County property taxes in Cambria typically range from 1.5% to 2% of assessed value, which is important to factor into your monthly mortgage payment calculations. The county offers various exemptions including homestead exemptions for primary residences. Your lender should help you estimate these taxes accurately during the pre-approval process.
Why Choose a Mortgage Lender in Cambria?
Local Market Knowledge
Lenders who understand Cambria'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 Cambria and get competitive rates on your home loan.