The Best Mortgage Lenders in Fidelity, IL
Compare verified mortgage lenders serving Fidelity, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Fidelity
Featured Mortgage Lenders
First Mid Bank & Trust
First Mid Bank & Trust, N.A.
First Mid Bank & Trust is a highly-rated community bank headquartered just 15 miles from Fidelity in Jerseyville, making them exceptionally well-positioned to serve Fidelity residents. With over 150 years of service to southwestern Illinois communities, they offer personalized mortgage services with local decision-making. Their mortgage team provides competitive rates on all major loan types including USDA loans which are particularly valuable for rural areas like Fidelity. Customers consistently praise their responsive service, transparent process, and commitment to the local community.
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Carrollton Bank
Carrollton Bank
Carrollton Bank has been serving Jersey County and surrounding areas for over 50 years, with their Jerseyville location just a short drive from Fidelity. They specialize in rural and agricultural lending, making them particularly well-suited for Fidelity's community needs. Their mortgage department offers comprehensive loan options including specialized agricultural property financing. Reviewers highlight their knowledgeable staff, competitive rates, and understanding of rural property values and financing challenges unique to the region.
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U.S. Bank
U.S. Bank National Association
U.S. Bank maintains a strong physical presence in the broader region with their Alton branch approximately 25 miles from Fidelity, serving clients throughout Jersey County. As one of the nation's largest banks with deep roots in the Midwest, they offer competitive mortgage rates and a wide range of loan products. Their expertise in USDA rural development loans makes them particularly valuable for Fidelity area homebuyers. Customers appreciate their digital mortgage tools combined with local branch support, reliable service, and extensive experience with Illinois property financing.
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Frequently Asked Questions
Common questions about mortgage lending in Fidelity, IL
What are the current average mortgage rates for homebuyers in Fidelity, IL?
Mortgage rates in Fidelity typically align with national averages but can vary based on local lenders and property types. As of recent data, 30-year fixed rates in the area range from 6.5% to 7.25%, though rural properties might see slightly higher rates. It's best to check with local lenders like First National Bank of Arenzville or Jacksonville Savings Bank for the most current Fidelity-specific rates.
Are there any special mortgage programs for first-time homebuyers in Fidelity?
Yes, Illinois Housing Development Authority (IHDA) programs are available to Fidelity residents, offering down payment assistance and affordable fixed-rate mortgages. Additionally, some local lenders may offer special programs for first-time buyers in this rural community. These programs can be particularly helpful given Fidelity's modest median home prices compared to larger Illinois cities.
How does Fidelity's rural location affect the mortgage approval process?
Fidelity's rural classification can impact lending through USDA Rural Development loans, which are widely available here and offer 100% financing. However, some conventional lenders may require more thorough property inspections due to the area's older housing stock and limited comparable sales. Appraisals might take longer since appraisers often need to travel from larger nearby cities.
What unique closing costs should I expect when buying a home in Fidelity?
Beyond standard closing costs, Fidelity homebuyers should budget for rural-specific expenses like well and septic inspections, which typically cost $400-$600 combined. You may also encounter higher title insurance costs due to the smaller local market. Property transfer taxes in Illinois apply, but some rural counties offer slight variations.
Are there local property tax considerations I should know about for mortgage planning in Fidelity?
Yes, Scott County property taxes are relatively affordable compared to urban Illinois areas, typically ranging from 0.8% to 1.2% of assessed value. However, agricultural land assessments can affect overall tax rates in this rural community. Your mortgage lender will help estimate escrow payments, but consulting the Scott County Assessor's office for specific property tax information is recommended.
Why Choose a Mortgage Lender in Fidelity?
Local Market Knowledge
Lenders who understand Fidelity'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 Fidelity and get competitive rates on your home loan.