The Best Mortgage Lenders in Quincy, IL
Compare verified mortgage lenders serving Quincy, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Quincy
Featured Mortgage Lenders
Ryan Winking
First Bankers Trust Company, N.A.
First Bankers Trust has been a cornerstone of Quincy's financial community for decades, earning exceptional ratings for their personalized mortgage services. As a locally-headquartered community bank, they offer deep understanding of the Quincy real estate market with competitive rates and flexible loan options. Their mortgage team provides dedicated one-on-one service throughout the entire home buying process, making them a top choice for both first-time homebuyers and experienced investors in the Quincy area.
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Mortgage Department
First Mid Bank & Trust
First Mid Bank & Trust maintains a strong presence in Quincy with their experienced mortgage lending team that consistently receives high customer satisfaction ratings. As a regional bank with deep roots in Illinois and Missouri, they combine local decision-making with comprehensive mortgage products. Their Quincy branch offers competitive rates and specializes in helping borrowers navigate the unique aspects of the Tri-State area real estate market, with particular expertise in agricultural and rural property financing.
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Mortgage Solutions Team
Scott Credit Union
While headquartered in Fairview Heights, Scott Credit Union has expanded to serve the Quincy market with exceptional mortgage services and highly competitive rates. As a member-owned financial cooperative, they consistently rank among the top mortgage lenders in Illinois for customer satisfaction. Their digital mortgage application process combined with personalized local service makes them a popular choice for Quincy residents seeking low closing costs and flexible loan terms, particularly for first-time homebuyers and VA loan applicants.
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Frequently Asked Questions
Common questions about mortgage lending in Quincy, IL
What are the current average mortgage rates for homebuyers in Quincy, IL?
Mortgage rates in Quincy typically align with national averages but can be slightly lower due to the area's affordable housing market. As of recent data, 30-year fixed rates in Quincy generally range from 6.5% to 7%, though this varies by lender, credit score, and loan type. Local credit unions like Great River Credit Union often offer competitive rates that are worth comparing with national lenders.
Are there any first-time homebuyer programs specific to Quincy, IL?
Yes, the Illinois Housing Development Authority (IHDA) offers several first-time homebuyer programs accessible to Quincy residents, including the 1stHomeILLINOIS program with down payment assistance. Additionally, local lenders may offer special programs for first-time buyers, and the City of Quincy occasionally has community development grants for home purchases in targeted neighborhoods.
How does Quincy's Mississippi River location affect mortgage lending requirements?
Properties in designated flood zones near the Mississippi River may require flood insurance as a condition for mortgage approval, which can affect your monthly payment calculations. Lenders will typically order a flood certification during the appraisal process. It's important to factor this potential additional cost when budgeting for homes in Quincy's riverfront areas.
What are the typical down payment requirements for Quincy's housing market?
In Quincy's moderately priced market, many conventional loans require 5-20% down, but FHA loans are popular with just 3.5% down. Given Quincy's median home price around $150,000, down payments are often more manageable than in larger cities. Local lenders are often familiar with programs that can help with down payment assistance for qualified buyers.
Are there any special mortgage considerations for buying historic homes in Quincy's preservation districts?
Yes, purchasing historic homes in districts like the East End Historic District may involve additional requirements. Some lenders may require specialized appraisals, and you might need to research renovation loans if updates are needed while preserving historical integrity. Local lenders familiar with Quincy's historic properties can guide you through any special financing considerations.
Why Choose a Mortgage Lender in Quincy?
Local Market Knowledge
Lenders who understand Quincy'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 Quincy and get competitive rates on your home loan.