The Best Mortgage Lenders in Clifton, IL
Compare verified mortgage lenders serving Clifton, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Clifton
Featured Mortgage Lenders
Brian Scott
First Federal Savings Bank of Illinois
First Federal Savings Bank of Illinois is a highly-rated community bank with deep roots in the Kankakee County region, serving Clifton and surrounding areas for over 130 years. They maintain exceptional 4.8-star ratings across multiple platforms with customers praising their personalized service, local decision-making, and competitive mortgage rates. As a community-focused institution, they specialize in understanding the unique needs of local homebuyers and offer a comprehensive range of loan products with the advantage of local underwriting and processing.
Loan Types:
Mortgage Department
Old Plank Trail Bank
Old Plank Trail Bank has established itself as a top-rated mortgage lender in the Kankakee County area with consistent 4.7-star ratings and numerous positive reviews highlighting their responsive service and competitive terms. They serve Clifton residents with personalized mortgage solutions and local expertise. Their mortgage team is praised for making the homebuying process smooth and understandable, particularly for first-time buyers. As a community bank, they offer the advantage of local decision-making combined with comprehensive loan options.
Loan Types:
Mortgage Services
Heartland Bank and Trust Company
Heartland Bank and Trust Company is a well-established regional bank with strong presence throughout Eastern Illinois, including dedicated service to Clifton area residents. They maintain excellent 4.6-star ratings with customers consistently praising their knowledgeable mortgage specialists and efficient loan processing. With over 30 years of mortgage lending experience in the region, they offer competitive rates and a wide variety of loan programs. Their local branch network ensures personalized service while providing the resources of a substantial regional banking institution.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Clifton, IL
What are the current average mortgage rates for homebuyers in Clifton, IL?
Mortgage rates in Clifton typically align with national averages but can vary based on local lender competition and property types. Currently, 30-year fixed rates in the Clifton area range between 6.5-7%, though local credit unions like Clifton Community Bank often offer competitive rates. It's best to compare offers from both local and national lenders to secure the best rate for your situation.
Are there any first-time homebuyer programs specifically available in Clifton?
Yes, Clifton homebuyers can access the Illinois Housing Development Authority's (IHDA) programs like the 1stHomeIllinois loan, which offers competitive interest rates and down payment assistance. Additionally, some local lenders may offer special programs for Clifton residents, particularly for properties within the village limits. These programs can provide valuable assistance with down payments and closing costs for qualifying buyers.
How does Clifton's rural location affect mortgage lending requirements?
Clifton's rural designation can actually benefit homebuyers through USDA Rural Development loans, which offer 100% financing with no down payment required. Many properties in and around Clifton qualify for these USDA loans, making homeownership more accessible. However, some lenders may have additional requirements for rural property appraisals, so working with a lender experienced in Clifton-area properties is recommended.
What special considerations should I know about when getting a mortgage for a historic home in Clifton?
Clifton has several historic properties that may require specialized lending considerations. Lenders often require additional inspections and may have stricter requirements for older homes in Clifton's historic districts. You'll want to work with a lender experienced in historic properties and budget for potential higher insurance costs and maintenance requirements that could affect your debt-to-income ratio calculations.
Are property taxes in Clifton typically included in mortgage escrow accounts?
Yes, most lenders in Clifton require escrow accounts for property taxes, which are relatively moderate compared to larger Illinois cities. Kankakee County property taxes for Clifton homes typically range from 1.8-2.2% of assessed value. Your lender will calculate these payments into your monthly mortgage payment, providing predictable budgeting while ensuring your tax obligations are met annually.
Why Choose a Mortgage Lender in Clifton?
Local Market Knowledge
Lenders who understand Clifton'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 Clifton and get competitive rates on your home loan.