The Best Mortgage Lenders in Manhattan, IL
Compare verified mortgage lenders serving Manhattan, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Manhattan
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is one of the top-rated mortgage lenders in the U.S., known for its competitive rates, efficient online application process, and strong customer service. With over two decades of experience, they have a significant presence in Illinois, including serving Manhattan through local loan officers. They are highly regarded for their transparency, quick closing times, and a wide range of loan options, making them a preferred choice for homebuyers in the area.
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Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a highly reputable lender with a strong focus on community involvement and personalized service. They have multiple branches in the Chicago metropolitan area, including Orland Park, which serves Manhattan and surrounding regions. With nearly three decades of experience, they are praised for their knowledgeable loan officers, competitive rates, and commitment to customer satisfaction, often highlighted in customer reviews for their responsiveness and support throughout the mortgage process.
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The Federal Savings Bank
The Federal Savings Bank
The Federal Savings Bank is a veteran-owned lender known for its competitive mortgage products and exceptional customer service. Serving the Greater Chicago area, including Manhattan, they offer a variety of loan types with a focus on flexibility and affordability. With over a decade of experience, they have built a solid reputation for their straightforward application process, knowledgeable staff, and dedication to helping clients achieve homeownership, supported by positive reviews highlighting their reliability and community focus.
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Frequently Asked Questions
Common questions about mortgage lending in Manhattan, IL
What are the current average mortgage rates for homebuyers in Manhattan, IL?
Mortgage rates in Manhattan, IL, typically align with national averages but can be influenced by local market conditions and your individual financial profile. As of late 2023, rates for a 30-year fixed mortgage in the area generally range from 6.5% to 7.5%, but it's essential to get personalized quotes from local lenders who understand the Will County market.
Are there any first-time homebuyer programs specific to Manhattan, IL?
While Manhattan itself doesn't offer a unique program, first-time homebuyers in Manhattan can access several Illinois-statewide programs like the Illinois Housing Development Authority's (IHDA) 1stHomeIllinois program, which offers competitive interest rates and down payment assistance. Additionally, Will County may have local grants or assistance programs, so consulting with a mortgage advisor familiar with the area is recommended.
How does Manhattan's rural location affect the mortgage process compared to nearby cities like Joliet?
Manhattan's more rural setting can mean fewer local lender branches, but many lenders serve the area remotely. Appraisals might take slightly longer if comparable home sales are less frequent than in denser areas. However, properties may qualify for USDA loans, which offer 100% financing—a significant advantage for eligible buyers in this community.
What types of properties in Manhattan, IL, are eligible for USDA loans?
Many homes in Manhattan, IL, qualify for USDA loans due to the area's designation as a rural community by the USDA. Eligible properties must be located within the designated rural area and be used as a primary residence. This loan type is popular here because it requires no down payment, making homeownership more accessible for moderate-income buyers.
How do property taxes in Manhattan, IL, impact my mortgage payments?
Manhattan, IL, has property taxes that are generally moderate for Will County but can vary based on the specific subdivision and assessed value. Lenders will include these taxes in your monthly escrow payment, so it's important to factor them into your overall affordability calculation. Consulting a local real estate agent can provide specific tax estimates for homes you're considering.
Why Choose a Mortgage Lender in Manhattan?
Local Market Knowledge
Lenders who understand Manhattan'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 Manhattan and get competitive rates on your home loan.