The Best Mortgage Lenders in Irvington, IL
Compare verified mortgage lenders serving Irvington, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Irvington
Featured Mortgage Lenders
Scott Credit Union Mortgage Department
Scott Credit Union
Scott Credit Union is one of Southern Illinois' most trusted financial institutions with an exceptional reputation for mortgage lending. Serving the Irvington area with competitive rates and personalized service, they offer a comprehensive range of loan products including specialized programs for first-time homebuyers. Their mortgage team provides local decision-making and has consistently high customer satisfaction ratings. With deep roots in the region since 1941, they understand the local real estate market and offer both in-person and digital mortgage solutions.
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First Mid Bank & Trust Mortgage Division
First Mid Bank & Trust
First Mid Bank & Trust has been serving Southern Illinois communities for over 150 years with a strong mortgage lending division that covers the Irvington area. They are known for their competitive rates, local underwriting, and personalized service from experienced loan officers. The bank offers a full spectrum of mortgage products with particular expertise in agricultural and rural property financing, making them an excellent choice for Irvington residents. Their long-standing community presence and commitment to customer service have earned them numerous local awards and high customer satisfaction ratings.
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The Mortgage Center
The Mortgage Center, Inc.
The Mortgage Center is a highly-rated independent mortgage broker serving Southern Illinois including the Irvington area. With nearly perfect customer ratings, they excel at finding the best loan options from multiple lenders and providing exceptional personalized service. Their team of experienced mortgage professionals specializes in navigating complex loan scenarios and offers competitive rates through their extensive lender network. As a local company deeply familiar with the Southern Illinois housing market, they provide tailored solutions and hands-on guidance throughout the entire mortgage process.
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Frequently Asked Questions
Common questions about mortgage lending in Irvington, IL
What are the current average mortgage rates for homebuyers in Irvington, IL?
Mortgage rates in Irvington 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 generally range from 6.5% to 7.2%, though rural property loans might carry slightly higher rates. It's best to compare offers from local community banks and credit unions in Washington County for the most competitive terms.
Are there any first-time homebuyer programs specifically available in Irvington?
Yes, Irvington residents can access the Illinois Housing Development Authority's (IHDA) programs like the 1stHomeIllinois mortgage, which offers competitive interest rates and down payment assistance. Additionally, some Washington County lenders may offer local first-time buyer incentives. These programs are particularly valuable in Irvington's affordable housing market where median home prices remain below state averages.
How does Irvington's rural location affect mortgage lending requirements?
Irvington's rural classification can impact lending through USDA Rural Development loans, which offer 100% financing with no down payment required for eligible borrowers. However, some conventional lenders may have stricter requirements for property appraisals due to the limited number of comparable home sales in the area. Working with lenders experienced in rural Southern Illinois properties is recommended.
What special considerations should I know about when getting a mortgage for older homes in Irvington?
Many homes in Irvington's historic areas were built before 1950, which may require specialized inspections and potentially affect loan terms. FHA 203(k) renovation loans can be particularly useful for updating these properties while keeping them affordable. Lenders typically require thorough inspections for structural integrity, electrical systems, and plumbing before approving mortgages on older Irvington homes.
Are property taxes in Irvington typically included in mortgage escrow accounts?
Yes, most Irvington lenders include Washington County property taxes in escrow accounts, with annual rates typically around 1.8-2.2% of assessed value. Given Irvington's modest home values, this results in relatively affordable monthly escrow payments compared to urban areas. Your lender will calculate these based on the specific property's assessment and include them in your monthly mortgage payment estimate.
Why Choose a Mortgage Lender in Irvington?
Local Market Knowledge
Lenders who understand Irvington'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 Irvington and get competitive rates on your home loan.