The Best Mortgage Lenders in Moline, IL
Compare verified mortgage lenders serving Moline, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Moline
Featured Mortgage Lenders
Ascentra Credit Union
Ascentra Credit Union
Ascentra Credit Union stands as one of the most highly-rated local mortgage lenders in the Quad Cities area, with deep roots in Moline dating back to 1950. They consistently receive exceptional customer satisfaction ratings for their personalized service and competitive rates. As a community-focused credit union, they offer a comprehensive range of mortgage products with particularly strong first-time homebuyer programs and local underwriting expertise that ensures quick turnaround times. Their mortgage specialists provide one-on-one guidance throughout the entire process, making them a top choice for Moline residents seeking local, trustworthy mortgage services.
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MidWestOne Bank
MidWestOne Bank
MidWestOne Bank has been serving the Quad Cities region including Moline for decades with an outstanding reputation for mortgage lending. While headquartered in Iowa, they maintain a strong presence throughout the Illinois side of the river and are particularly noted for their construction lending expertise and competitive conventional loan rates. Their experienced loan officers provide local decision-making and personalized service, with many customers praising their responsiveness and attention to detail. The bank's long history and stability, combined with their comprehensive digital mortgage tools, make them a reliable choice for Moline homebuyers seeking both traditional service and modern convenience.
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Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation operates a highly-rated Quad Cities branch that extensively serves Moline and surrounding Illinois communities. They consistently rank among the top mortgage lenders nationally for customer satisfaction and have built an exceptional local reputation for competitive rates and efficient loan processing. Their team of experienced loan officers specializes in all major loan types with particular expertise in VA and FHA loans, making them a popular choice for military families and first-time buyers. Customers frequently highlight their transparent communication, quick closings, and ability to navigate complex financing situations, solidifying their position as a premier mortgage option for Moline residents.
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Frequently Asked Questions
Common questions about mortgage lending in Moline, IL
What are the current average mortgage rates for homebuyers in Moline, IL?
Mortgage rates in Moline typically align with national averages but can vary based on local lender competition and property types. As of recent data, 30-year fixed rates in the Quad Cities area generally range from 6.5% to 7.25%, though Rock Island County rates may be slightly higher due to different market factors. It's best to compare offers from local credit unions like Ascentra Credit Union and national lenders serving the area.
Are there any special first-time homebuyer programs available specifically for Moline residents?
Yes, Moline homebuyers can access the Illinois Housing Development Authority's (IHDA) programs including the 1stHomeIllinois and Access Forgivable programs, which offer down payment assistance and competitive rates. Additionally, local programs through Quad Cities Community Foundation may provide additional support. These programs are particularly valuable given Moline's median home prices being below state averages.
How does Moline's property tax system affect mortgage payments and affordability?
Moline's property taxes in Rock Island County average approximately 2.3% of home value, which is moderately high compared to national averages but typical for Illinois. This means your monthly mortgage payment will include significant tax escrow amounts - for a $200,000 home, expect around $4,600 annually in property taxes. Lenders factor this into your debt-to-income ratio calculations.
What unique mortgage considerations should I know about buying a home in Moline's older neighborhoods?
Many Moline homes in historic areas like The Old Towne District were built before 1940, which may require specialized FHA 203(k) renovation loans or specific inspections for older electrical, plumbing, and foundation systems. Lenders might require additional repairs or inspections before approving conventional loans, particularly for homes with outdated systems or potential lead paint concerns.
How does the Quad Cities job market and major employers like John Deere affect mortgage lending in Moline?
Moline's stable employment base with major employers like John Deere, Trinity Medical Center, and the Rock Island Arsenal provides consistent income verification that lenders favor. However, they may scrutinize employment stability more carefully if you work in manufacturing sectors experiencing fluctuations. Local lenders understand these industry dynamics and may offer more flexible terms for long-term employees of these major companies.
Why Choose a Mortgage Lender in Moline?
Local Market Knowledge
Lenders who understand Moline'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 Moline and get competitive rates on your home loan.