The Best Mortgage Lenders in Raymond, IL
Compare verified mortgage lenders serving Raymond, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Raymond
Featured Mortgage Lenders
Mortgage Department
First Mid Bank & Trust
First Mid Bank & Trust is one of central Illinois' most established and highly-rated mortgage lenders with deep roots throughout the region. While headquartered in Mattoon, they serve clients across multiple counties including Montgomery County where Raymond is located. They offer personalized service through local banking centers and have maintained exceptional customer satisfaction ratings for their mortgage division. Their longevity in the Illinois market combined with comprehensive loan options and competitive rates makes them a top choice for Raymond area homebuyers.
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Mortgage Team
Success Mortgage
Success Mortgage has built an outstanding reputation throughout southern and central Illinois with exceptional customer service ratings and extensive experience serving rural communities like Raymond. They specialize in guiding clients through the entire mortgage process with personalized attention and offer competitive rates across all loan types. Their team has particular expertise with USDA rural development loans and FHA programs that benefit Raymond area homebuyers. With hundreds of positive reviews highlighting their responsiveness and expertise, they are a premier mortgage option for the region.
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Illinois Mortgage Division
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation operates one of their many Illinois branches in Glen Carbon, serving clients throughout central and southern Illinois including Raymond. They are nationally recognized for their mortgage expertise and consistently receive top ratings for customer service. Their local loan officers have extensive knowledge of the Raymond market and specialize in finding the right loan products for each client's unique situation. With robust online tools and dedicated personal service, they provide a seamless mortgage experience from application to closing, making them a top-rated choice for Montgomery County homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Raymond, IL
What are the current average mortgage rates for homebuyers in Raymond, IL?
Mortgage rates in Raymond typically align with national averages but can be slightly lower due to the area's rural classification and stable housing market. As of late 2024, 30-year fixed rates in Raymond generally range from 6.5% to 7.25%, though local credit unions like Scott Credit Union often offer competitive rates. It's best to compare offers from both local and national lenders to secure the best rate for your situation.
Are there any first-time homebuyer programs specifically available in Raymond?
Yes, Raymond homebuyers can access the Illinois Housing Development Authority's (IHDA) programs, including the 1stHomeIllinois loan with down payment assistance up to $7,500. Additionally, Montgomery County may offer local grants for first-time buyers, and USDA loans are particularly relevant here since Raymond qualifies for rural development loans with zero down payment requirements, making homeownership more accessible.
How does Raymond's rural location affect my mortgage options?
Raymond's rural designation opens up valuable USDA loan opportunities, which require no down payment and offer competitive rates for qualified buyers in designated rural areas. However, you may find fewer local lender branches compared to urban areas, though many regional banks and credit unions serve the community. Appraisal processes might also consider different comparable properties than in suburban markets.
What special considerations should I know about property taxes when getting a mortgage in Raymond?
Montgomery County property taxes in Raymond typically range from 1.8% to 2.2% of assessed value, which is moderate for Illinois. Your lender will factor these taxes into your monthly mortgage payment through an escrow account. First-time buyers should investigate if they qualify for the Illinois Senior Citizens Homestead Exemption or other local tax relief programs that could reduce their overall housing costs.
Are there any local down payment assistance programs for Raymond homebuyers?
Beyond state programs, Raymond buyers should check with Montgomery County about potential local assistance programs. The IHDA's Access Forgivable program provides up to $10,000 in down payment assistance that becomes a grant after five years of occupancy. Some local employers, including those in nearby Litchfield, may offer employer-assisted housing programs that Raymond residents can utilize.
Why Choose a Mortgage Lender in Raymond?
Local Market Knowledge
Lenders who understand Raymond'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 Raymond and get competitive rates on your home loan.