The Best Mortgage Lenders in Marshall, IL
Compare verified mortgage lenders serving Marshall, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Marshall
Featured Mortgage Lenders
Scott McIntire
First Financial Bank Mortgage
First Financial Bank has been serving the Illinois-Indiana region for over 160 years and maintains a strong presence in east-central Illinois. Their mortgage team, led by experienced professionals like Scott McIntire, specializes in rural and small-town home financing, making them an excellent choice for Marshall residents. They offer competitive rates on USDA loans which are particularly beneficial for the Marshall area, and their local underwriting team understands the unique aspects of rural Illinois property values.
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Ryan McDaniel
First Mid Bank & Trust Mortgage
First Mid Bank & Trust has deep roots in east-central Illinois with over 150 years of community banking experience. Their mortgage division specializes in serving rural communities throughout Illinois and has specific expertise with properties in Clark County and surrounding areas. They offer personalized service with local decision-making and are particularly strong with agricultural and rural property financing, making them well-suited for Marshall homebuyers seeking local expertise with competitive rates.
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Mortgage Team
CrossCountry Mortgage, LLC
CrossCountry Mortgage has established a strong regional presence in central Illinois with a dedicated team serving the Marshall area. They combine the resources of a national lender with local expertise, offering a wide range of loan products including specialized programs for rural homebuyers. Their high customer satisfaction ratings reflect their commitment to personalized service and competitive pricing. The Champaign-based team regularly serves clients throughout east-central Illinois and has extensive experience with the unique requirements of rural property financing in the Marshall market.
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Frequently Asked Questions
Common questions about mortgage lending in Marshall, IL
What are the current average mortgage rates for homebuyers in Marshall, IL?
Mortgage rates in Marshall typically align with national averages but can be slightly lower due to the area's rural designation and lower cost of living. As of recent data, 30-year fixed rates often range between 6.5% and 7%, but it's best to check with local lenders like First National Bank in Marshall or regional credit unions for the most accurate, personalized rates based on your credit profile.
Are there any first-time homebuyer programs specifically available in Marshall?
Yes, Marshall homebuyers can access the Illinois Housing Development Authority's (IHDA) programs, including the 1stHomeIL loan with competitive interest rates and down payment assistance. Additionally, some local lenders may offer special programs for first-time buyers in Clark County, so it's worth discussing options with institutions like First National Bank of Marshall or Peoples Bank & Trust.
How does Marshall's rural location affect mortgage lending options?
Marshall's rural designation makes certain USDA loans particularly attractive, as many properties in and around Marshall qualify for USDA Rural Development loans requiring no down payment. This can be a significant advantage for eligible buyers, though you'll want to confirm specific property eligibility with your lender since not all areas may qualify.
What should I know about property taxes when getting a mortgage in Marshall?
Clark County property taxes in Marshall are relatively moderate compared to urban Illinois areas, typically ranging from 1.2% to 1.8% of assessed value. Your lender will include these taxes in your monthly mortgage payment through an escrow account, and it's important to factor this into your overall housing budget since tax rates can vary based on specific property locations within Marshall.
Are there local down payment assistance programs available for Marshall homebuyers?
While Marshall itself doesn't offer city-specific programs, buyers can utilize statewide programs through IHDA, such as the Access Forgivable loan providing up to $10,000 in down payment assistance. Some local employers and community organizations may also offer assistance programs, so it's worth inquiring with Marshall-area employers and checking with multiple local lenders about any special programs they may offer.
Why Choose a Mortgage Lender in Marshall?
Local Market Knowledge
Lenders who understand Marshall'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 Marshall and get competitive rates on your home loan.