The Best Mortgage Lenders in East Moline, IL
Compare verified mortgage lenders serving East Moline, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in East Moline
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a nationally recognized mortgage lender with a strong local presence in the Quad Cities area, including East Moline. Known for its competitive rates and innovative online tools, the company has high customer satisfaction ratings due to its efficient application process and personalized service. With over two decades of experience, they offer a wide range of loan products and are praised for their transparency and reliability in the mortgage industry.
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Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a highly rated lender with deep roots in the Midwest and a strong commitment to serving the East Moline community. They are renowned for their exceptional customer service, local expertise, and community involvement. Offering a comprehensive suite of loan options, Fairway is frequently praised for their competitive rates, fast closing times, and dedication to borrower education, making them a top choice for homebuyers in the region.
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Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a reputable lender with a significant presence in the Quad Cities area, including East Moline. They are known for their fast processing times, competitive rates, and high customer satisfaction ratings. With a focus on streamlining the mortgage experience, Movement offers a variety of loan products and is commended for their responsive service and community engagement. Their established track record and strong reviews make them a reliable option for local homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in East Moline, IL
What are the current average mortgage rates for homebuyers in East Moline, IL?
Mortgage rates in East Moline typically align with national averages but can vary based on local lenders and market conditions. As of recent trends, you can expect rates around 6.5-7% for 30-year fixed mortgages, though Rock Island County lenders may offer competitive rates. It's best to compare offers from local credit unions like IH Mississippi Valley Credit Union and national lenders for the best terms.
Are there any first-time homebuyer programs specifically available in East Moline?
Yes, East Moline homebuyers can access the Illinois Housing Development Authority's (IHDA) programs, including the 1stHomeIllinois and Access Forgivable programs, which offer down payment assistance and affordable fixed-rate mortgages. Additionally, local lenders may have special programs for Rock Island County residents. These programs are particularly valuable given East Moline's affordable housing market compared to larger Illinois cities.
How does East Moline's property tax structure affect mortgage payments?
East Moline has relatively moderate property tax rates compared to other Illinois communities, with Rock Island County averaging around 2.1-2.3% of assessed value. Your lender will factor these taxes into your monthly escrow payment, which can significantly impact your total mortgage payment. It's important to get a precise tax estimate during pre-approval since taxes can vary by neighborhood.
What special considerations should I know about getting a mortgage for East Moline's older homes?
Many East Moline homes were built before 1978, so FHA 203(k) renovation loans are popular for addressing lead-based paint concerns and necessary updates. Local appraisers are familiar with valuing these historic properties, but you may need additional inspections. Lenders in the Quad Cities area often have experience with these older home mortgages and can guide you through the process.
Are there any local down payment assistance programs for East Moline homebuyers?
Yes, through the City of East Moline and IHDA partnerships, qualified buyers can access down payment assistance programs. The City occasionally offers HOME Investment Partnerships Program funds for low-to-moderate income buyers purchasing within city limits. Local lenders like Blackhawk Bank & Trust also have relationships with these programs and can help you navigate the application process specific to Rock Island County.
Why Choose a Mortgage Lender in East Moline?
Local Market Knowledge
Lenders who understand East Moline'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 East Moline and get competitive rates on your home loan.