The Best Mortgage Lenders in Granville, IL
Compare verified mortgage lenders serving Granville, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Granville
Featured Mortgage Lenders
Illinois Valley Economic Development Corporation
Illinois Valley Economic Development Corporation (IVEDC)
IVEDC is a highly-rated nonprofit mortgage lender serving the Granville area with exceptional customer satisfaction ratings. They specialize in affordable housing solutions and first-time homebuyer programs throughout the Illinois Valley region. With over two decades of experience, they offer personalized service and competitive rates, particularly strong in USDA rural development loans which are ideal for Granville's location. Their nonprofit status allows them to focus on community development rather than profit margins, resulting in exceptional customer service and favorable terms for borrowers.
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First National Bank of Ottawa
First National Bank of Ottawa
As a longstanding community bank with deep roots in the Illinois Valley region, First National Bank of Ottawa has been serving Granville residents for generations. They combine traditional community banking values with modern mortgage services, offering competitive rates and local decision-making. Their experienced loan officers provide personalized guidance through the entire mortgage process, and their local presence ensures ongoing support throughout the life of the loan. The bank's exceptional reputation and long history in the area make them a trusted choice for Granville homebuyers.
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Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation - Illinois Valley
Fairway Independent Mortgage has a strong local presence in the Illinois Valley area with an excellent reputation for customer service and competitive rates. Their Peru office serves Granville directly and consistently receives high marks for efficient processing and knowledgeable loan officers. As a national lender with local expertise, they offer a wide range of loan products while maintaining the personalized service of a smaller company. Their team specializes in helping borrowers navigate complex mortgage scenarios and has particular expertise in rural property financing suitable for the Granville market.
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Frequently Asked Questions
Common questions about mortgage lending in Granville, IL
What are the current mortgage rates like in Granville, IL?
Mortgage rates in Granville typically align with national averages but can be influenced by local market conditions. Currently, rates for 30-year fixed mortgages in Putnam County range from 6.5% to 7.25%, though these vary by lender and borrower qualifications. It's wise to compare rates from both local Illinois lenders and national institutions for the best deal.
Are there any first-time homebuyer programs available specifically for Granville residents?
Yes, Granville homebuyers can access the Illinois Housing Development Authority's (IHDA) programs, including the 1stHomeIllinois loan with competitive rates and down payment assistance. Putnam County may also offer local grants, so check with community banks like First National Bank of Granville for additional first-time buyer incentives tailored to the area.
How does Granville's rural location affect mortgage lending and property requirements?
Granville's rural setting means some properties may require specialized appraisals, particularly for homes on well and septic systems rather than municipal utilities. USDA loans are popular here due to the area's eligibility for rural development programs, offering 100% financing with no down payment for qualified buyers.
What should I know about property taxes when getting a mortgage in Granville?
Putnam County property taxes are relatively moderate compared to urban Illinois areas, currently averaging about 1.8-2.2% of assessed value. Your mortgage lender will factor these taxes into your monthly payment through an escrow account, and it's important to budget for potential tax increases as property values in Granville continue to appreciate.
Are there any local mortgage lenders in Granville that understand the specific market conditions?
Yes, local institutions like First National Bank of Granville have deep knowledge of the area's real estate market and can offer personalized service. These community banks often have more flexibility with lending criteria and can provide valuable insights about Granville's specific property values and neighborhood trends that larger lenders might miss.
Why Choose a Mortgage Lender in Granville?
Local Market Knowledge
Lenders who understand Granville'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 Granville and get competitive rates on your home loan.