The Best Mortgage Lenders in Odin, IL
Compare verified mortgage lenders serving Odin, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Odin
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated national mortgage lender with a strong presence in Illinois, known for its competitive rates and digital-first approach that simplifies the home loan process. With over two decades of experience, they excel in customer satisfaction, offering a wide range of loan products and personalized service. Their high ratings stem from efficient processing, transparency, and a commitment to helping borrowers in Odin and across Southern Illinois achieve their homeownership goals.
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New American Funding
New American Funding, LLC
New American Funding is a highly regarded mortgage lender with a solid reputation for serving diverse communities, including Odin, IL. They are praised for their flexible loan options, exceptional customer service, and efforts to support first-time homebuyers. With two decades in business, they maintain high ratings due to their responsive support, competitive rates, and inclusive lending practices, making them a reliable choice for homeowners in Southern Illinois.
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CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage is a trusted lender with a local branch in Mt. Vernon, IL, providing dedicated service to Odin and surrounding areas. They are known for their personalized approach, extensive loan portfolio, and strong community involvement. With 20 years of experience, they have built a reputation for reliability, fast closings, and high customer satisfaction, making them a top pick for borrowers seeking tailored mortgage solutions in Southern Illinois.
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Frequently Asked Questions
Common questions about mortgage lending in Odin, IL
What are the current mortgage rates like for homes in Odin, IL?
Mortgage rates in Odin typically align with national averages, but local lenders may offer competitive rates due to the rural market. As of recent trends, 30-year fixed rates in the area range from 6.5% to 7%, though this can vary based on credit score and loan type. It's wise to compare offers from both local banks and credit unions in Marion County for the best deal.
Are there any first-time homebuyer programs available specifically in Odin?
Yes, Odin homebuyers can access the Illinois Housing Development Authority (IHDA) programs, such as the 1stHomeIllinois loan, which offers competitive interest rates and down payment assistance. Additionally, some local lenders in Marion County may have special programs for first-time buyers, including grants or low down payment options tailored to the area's affordable housing market.
How does Odin's rural location affect the mortgage appraisal process?
Due to Odin's rural setting, appraisals can take longer as comparable home sales ("comps") may be limited in the immediate area. Appraisers often look at properties in nearby towns like Salem or Centralia, which might affect the valuation. It's important to work with a lender experienced in rural Illinois properties to ensure a smooth appraisal.
What types of properties in Odin are eligible for USDA loans?
Most of Odin and surrounding Marion County qualify for USDA loans, which offer 100% financing for eligible rural properties. To qualify, the home must be in a designated USDA rural area, and borrowers must meet income limits based on the county. This loan is popular in Odin due to its rural character and can be a great option for low-to-moderate income buyers.
Are property taxes in Odin typically included in the mortgage payment?
Yes, most lenders in Odin will include property taxes in your monthly mortgage payment through an escrow account, which helps spread the cost over the year. Odin's property tax rates in Marion County are generally moderate compared to urban areas in Illinois, but it's important to review the tax history of any property, as rates can vary. Your lender can provide an estimate based on the specific home's assessed value.
Why Choose a Mortgage Lender in Odin?
Local Market Knowledge
Lenders who understand Odin'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 Odin and get competitive rates on your home loan.