The Best Mortgage Lenders in Paris, IL
Compare verified mortgage lenders serving Paris, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Paris
Featured Mortgage Lenders
Mortgage Services
The First National Bank of Paris
The First National Bank of Paris is the premier local mortgage lender serving the Paris community with deep roots and extensive local market knowledge. As a community bank founded in 1994, they offer personalized service and competitive rates with loan officers who understand the specific needs of Edgar County residents. Their strong 4.8 rating reflects exceptional customer satisfaction, and they provide the full spectrum of mortgage products including specialized rural development loans perfect for the Paris area. With local underwriting and decision-making, they can offer faster closings and more flexible terms than larger institutions.
Loan Types:
Mortgage Department
First Financial Bank
First Financial Bank maintains a strong physical presence in Paris with their local branch and offers comprehensive mortgage services to the community. With over 20 years of experience in the Illinois market, they've built a reputation for competitive rates and excellent customer service. Their 4.7 rating stems from their commitment to guiding borrowers through the entire mortgage process with transparency and expertise. As a regional bank with multiple locations throughout Illinois and Indiana, they combine local service with the resources of a larger institution, offering special first-time homebuyer programs and flexible underwriting.
Loan Types:
Mortgage Division
Terre Haute Savings Bank
While based in nearby Terre Haute, Indiana, Terre Haute Savings Bank actively serves the Paris, Illinois market and has built a strong reputation for mortgage lending throughout the region. Their 4.6 rating reflects consistent customer satisfaction and their specialization in serving both urban and rural communities. They offer particularly strong construction and lot loan programs that are well-suited for the Paris area, along with competitive conventional and government-backed loans. With nearly two decades of experience, they provide the personalized service of a community bank combined with sophisticated mortgage products and digital tools for a streamlined borrowing experience.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Paris, IL
What are the current average mortgage rates for homebuyers in Paris, IL?
Mortgage rates in Paris, IL typically align with national averages but can be influenced by local economic factors. As of recent data, 30-year fixed rates generally range from 6.5% to 7.25%, though these fluctuate with market conditions. Working with a local lender who understands the Paris market can help you secure competitive rates and terms.
Are there any first-time homebuyer programs specifically available in Paris, IL?
Yes, first-time homebuyers in Paris may qualify for the Illinois Housing Development Authority's (IHDA) programs, which offer competitive interest rates and down payment assistance. Additionally, some local lenders in Edgar County may provide special first-time buyer loans with lower down payment requirements. These programs can make homeownership more accessible in Paris's affordable housing market.
How does Paris's rural location affect mortgage lending and property appraisal processes?
Paris's rural setting means appraisals may take slightly longer as comparable properties might be farther apart, requiring appraisers to draw from broader geographic areas. Lenders familiar with the area understand these dynamics and can navigate the unique aspects of valuing properties in Edgar County. This local expertise helps ensure accurate property valuations and smoother loan processing.
What types of properties in Paris, IL might qualify for USDA rural housing loans?
Most properties in Paris and surrounding Edgar County qualify for USDA loans, which offer 100% financing with no down payment required. These loans are specifically designed for rural areas and can include single-family homes, townhomes, and approved condos. Given Paris's designation as a rural community, many homebuyers can take advantage of this beneficial program.
How do property taxes in Paris, IL impact mortgage affordability and lending requirements?
Paris has relatively moderate property tax rates compared to other Illinois communities, typically ranging from 1.5% to 2% of assessed value. Lenders factor these taxes into your debt-to-income ratio calculations, which can affect your borrowing power. The stable tax environment in Paris generally makes homeownership more predictable and affordable for mortgage borrowers.
Why Choose a Mortgage Lender in Paris?
Local Market Knowledge
Lenders who understand Paris'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 Paris and get competitive rates on your home loan.