The Best Mortgage Lenders in Hull, IL
Compare verified mortgage lenders serving Hull, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Hull
Featured Mortgage Lenders
Mortgage Services
First Bankers Trust Company
First Bankers Trust has been serving the Quincy area and surrounding communities including Hull for over 30 years. As a locally-owned community bank with deep roots in West Central Illinois, they offer personalized mortgage services with competitive rates and local underwriting decisions. Their experienced loan officers provide comprehensive guidance through the entire mortgage process, from pre-approval to closing. The bank maintains an excellent reputation for customer service and community involvement, with many long-term employees who understand the local real estate market.
Loan Types:
Mortgage Department
Great River Credit Union
Great River Credit Union has been serving Adams County and surrounding areas including Hull for decades. As a member-owned financial cooperative, they offer competitive mortgage rates and personalized service to their members. Their mortgage specialists provide comprehensive guidance through various loan programs, including special first-time homebuyer options and flexible qualification criteria. The credit union is known for its community-focused approach and commitment to helping members achieve homeownership with favorable terms and local decision-making.
Loan Types:
Local Mortgage Office
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation's Quincy branch serves the Hull area with exceptional mortgage services and nationally competitive rates. As one of the largest mortgage lenders in the country with a strong local presence, they combine the resources of a national company with personalized local service. Their experienced loan officers are known for efficient processing, excellent communication, and finding the right loan products for each borrower's situation. They consistently receive high marks for customer satisfaction and have numerous awards for their service quality and lending expertise.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Hull, IL
What are the current average mortgage rates for homebuyers in Hull, IL?
Mortgage rates in Hull typically align with national averages but can be slightly influenced by local market conditions and property types common in Pike County. As of recent trends, you can expect rates around 6.5% to 7% for a 30-year fixed mortgage, though this varies by lender, credit score, and loan type. It's best to compare offers from local credit unions and regional banks serving the Hull area for the most competitive rates.
Are there any first-time homebuyer programs specifically available in Hull, IL?
Yes, first-time homebuyers in Hull can access the Illinois Housing Development Authority (IHDA) programs, which offer down payment assistance and affordable fixed-rate mortgages. Additionally, some local lenders in Pike County may have special programs for first-time buyers with lower credit score requirements or reduced fees. These programs are particularly valuable in Hull's affordable housing market where median home prices remain below state averages.
How does Hull's rural location affect the mortgage process and property requirements?
Hull's rural setting means lenders may require additional property inspections, particularly for well and septic systems, which are common in the area. Some properties might qualify for USDA Rural Development loans, which offer 100% financing with no down payment requirement. However, appraisals might take longer due to the need for comparable properties from surrounding rural areas rather than within Hull itself.
What types of properties are most common in Hull's mortgage market, and does this affect loan options?
Hull's mortgage market primarily consists of single-family homes, manufactured homes on permanent foundations, and some agricultural properties. Traditional mortgages work well for standard homes, while manufactured homes may require specialized loans through FHA, VA, or USDA programs. The prevalence of older homes in the area means FHA 203(k) renovation loans can be particularly useful for buyers considering properties needing updates.
Are there any local property tax considerations that affect mortgage payments in Hull?
Yes, Hull homeowners benefit from Pike County's relatively low property tax rates compared to urban areas in Illinois, which helps keep overall mortgage payments affordable. Current tax rates in the Hull area typically range from 1.5% to 2% of assessed value. However, lenders will still require you to escrow for property taxes, and it's important to factor in potential tax increases when calculating your long-term housing budget.
Why Choose a Mortgage Lender in Hull?
Local Market Knowledge
Lenders who understand Hull'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 Hull and get competitive rates on your home loan.