The Best Mortgage Lenders in Rock Island, IL
Compare verified mortgage lenders serving Rock Island, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Rock Island
Featured Mortgage Lenders
Mike Bawden
Ascentra Credit Union
Ascentra Credit Union stands out as one of the highest-rated mortgage lenders in the Quad Cities region serving Rock Island, with exceptional customer satisfaction ratings and deep community roots. As a member-owned financial cooperative, they offer highly competitive rates and personalized service through local mortgage experts who understand the Rock Island housing market. Their mortgage team provides comprehensive guidance through the entire home buying process, with special programs for first-time homebuyers and flexible loan options. With over 70 years serving the Quad Cities community, they've built a reputation for transparency, reliability, and putting members' financial interests first.
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Chris Tjaden
Happy Money Mortgage
Happy Money Mortgage is a highly-rated local mortgage broker based directly in Rock Island, offering personalized service and access to multiple lending partners to secure the best possible rates for Quad Cities homebuyers. They excel at navigating complex financial situations and providing creative solutions for borrowers with unique circumstances. The company has built an outstanding reputation for responsive communication, transparent processes, and going above-and-beyond for clients. Their local expertise in the Rock Island market combined with access to wholesale lending rates makes them a top choice for buyers seeking both competitive pricing and exceptional customer service.
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Jason Gordon
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation's local Moline branch, led by Jason Gordon, serves the Rock Island area with national lending power combined with deep local market knowledge. As one of the largest mortgage lenders in the country with a strong Quad Cities presence, they offer competitive rates, extensive loan programs, and efficient processing. The team has particular expertise with VA loans, making them a preferred choice for military families in the Rock Island area. Their streamlined digital process combined with personalized service from local loan officers provides an optimal balance of technology and human touch, earning them consistently high customer satisfaction ratings across thousands of successful local mortgage transactions.
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Frequently Asked Questions
Common questions about mortgage lending in Rock Island, IL
What are the current mortgage rates like in Rock Island, IL?
Mortgage rates in Rock Island typically align with national averages but can be slightly lower due to the area's affordable housing market. As of recent trends, 30-year fixed rates have been hovering around 6.5-7%, but local credit unions like R.I.A. Federal Credit Union often offer competitive rates. It's wise to compare offers from both local and national lenders to secure the best rate for your situation.
Are there any first-time homebuyer programs specific to Rock Island?
Yes, the Illinois Housing Development Authority (IHDA) offers several programs accessible to Rock Island buyers, including the 1stHomeIL program with down payment assistance. Additionally, local programs like the City of Rock Island's Home Rehabilitation Loan Program can help with purchase-rehab projects. These programs often feature below-market interest rates and grant options for qualified buyers.
How does Rock Island's property tax system affect my mortgage payments?
Rock Island County has property tax rates that are moderately high compared to national averages, currently around 2.3-2.6% of assessed value. Your lender will factor these taxes into your monthly escrow payment, significantly impacting your total mortgage payment. It's important to get a precise tax estimate during home shopping since tax rates can vary between neighborhoods within Rock Island.
What special considerations should I know about getting a mortgage for a historic home in Rock Island?
Rock Island has several historic districts with unique preservation requirements. Mortgage lenders may require additional inspections and higher insurance premiums for historic properties. Some local lenders have experience with historic home financing and can guide you through the process, but you should budget for potentially higher maintenance costs and specialized insurance.
How competitive is the mortgage lending environment in Rock Island's housing market?
Rock Island's housing market is relatively balanced, making mortgage qualification somewhat less competitive than in hotter markets. However, well-priced homes in desirable neighborhoods like Broadway or near Augustana College can attract multiple offers. Getting pre-approved with a local lender who understands the Quad Cities market can give you an advantage when making offers.
Why Choose a Mortgage Lender in Rock Island?
Local Market Knowledge
Lenders who understand Rock Island'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 Rock Island and get competitive rates on your home loan.