The Best Mortgage Lenders in Rome, IL
Compare verified mortgage lenders serving Rome, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Rome
Featured Mortgage Lenders
Mortgage Department
Midland States Bank
Midland States Bank is a highly-rated regional bank with extensive experience serving central Illinois communities including Rome. They offer personalized mortgage solutions with competitive rates and have built a strong reputation for excellent customer service. Their local loan officers understand the unique needs of Illinois homebuyers and provide comprehensive guidance through the entire mortgage process with quick turnaround times and flexible loan options.
Loan Types:
Mortgage Services
CEFCU (Citizens Equity First Credit Union)
CEFCU is one of Illinois' largest credit unions with a strong presence throughout central Illinois, serving Rome residents with competitive mortgage products. They are particularly noted for their member-focused approach, offering lower fees and exceptional rates to credit union members. Their mortgage specialists provide personalized service and educational resources to help borrowers make informed decisions, with a reputation for smooth closings and responsive communication.
Loan Types:
Mortgage Lending Division
Heartland Bank and Trust Company
Heartland Bank and Trust has built an outstanding reputation across central Illinois for reliable mortgage lending with local decision-making authority. They serve Rome and surrounding communities with a comprehensive range of loan products and are known for their competitive rates and flexible terms. The bank's mortgage team provides exceptional personalized service with local underwriters who understand the regional market, ensuring efficient processing and closing timelines that exceed customer expectations.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Rome, IL
What are the current mortgage rates like in Rome, IL compared to the national average?
Mortgage rates in Rome, IL typically align closely with national averages, but local factors like the smaller, rural market can sometimes lead to slightly higher rates due to perceived lender risk. It's wise to compare offers from both local Illinois lenders and larger national institutions to secure the most competitive rate for your specific financial situation.
Are there any special down payment assistance programs for first-time homebuyers in Rome?
Yes, first-time homebuyers in Rome can utilize the Illinois Housing Development Authority's (IHDA) programs, such as the 1stHomeIllinois loan, which offers a 30-year fixed-rate mortgage with down payment assistance. These programs are particularly beneficial in Rome's affordable market, helping to minimize the initial cash needed to purchase a home.
How does the property tax system in Rome, IL impact my monthly mortgage payment?
Property taxes in Rome, which are part of Peoria County, are a significant component of your monthly escrow payment. While Illinois has some of the highest property taxes nationally, Rome's rates are often more moderate than in larger cities, but you should still budget carefully as they directly affect your total monthly housing cost.
What types of properties in Rome might require a specialized mortgage loan?
Given Rome's rural character and proximity to agricultural areas, you may find properties with larger lots or outbuildings that don't fit a standard loan. For homes on significant acreage or with income-producing potential, a USDA loan (if eligible) or a specialized rural property loan might be more appropriate than a conventional mortgage.
How long does the mortgage approval and closing process typically take in Rome's real estate market?
The mortgage process in Rome generally takes 30-45 days from application to closing, similar to national timelines. However, being in a smaller market can sometimes streamline the process with less competition for lender and appraisal services, though it's important to work with a lender familiar with Peoria County's specific requirements.
Why Choose a Mortgage Lender in Rome?
Local Market Knowledge
Lenders who understand Rome'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 Rome and get competitive rates on your home loan.