The Best Mortgage Lenders in Scott Air Force Base, IL
Compare verified mortgage lenders serving Scott Air Force Base, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Scott Air Force Base
Featured Mortgage Lenders
Scott Credit Union
Scott Credit Union
Scott Credit Union is a highly rated local institution deeply embedded in the Scott Air Force Base community, offering specialized military-friendly services like VA loans with competitive rates and minimal fees. With over 80 years of experience, they are known for exceptional customer service, personalized guidance for service members, and a strong commitment to the region. Their high rating and substantial review count reflect consistent satisfaction among military families and local residents.
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Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a nationally recognized mortgage lender with a strong presence in Illinois, serving Scott Air Force Base through local loan officers and a tech-driven process for fast, competitive loans. Founded in 2000, it boasts high ratings for transparency, low rates, and efficient service across various loan types, including VA and conventional options. Their extensive review base and years of experience make them a top choice for reliability and customer satisfaction in the St. Louis metro area.
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New American Funding
New American Funding, LLC
New American Funding is a highly rated mortgage lender with a dedicated team serving Scott Air Force Base and surrounding areas, offering tailored solutions like VA loans and programs for diverse borrowers. Founded in 2003, they are praised for exceptional customer service, competitive rates, and a wide range of loan products. Their strong review count and two decades of experience highlight a commitment to helping military families and first-time homebuyers achieve their goals with reliability and support.
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Frequently Asked Questions
Common questions about mortgage lending in Scott Air Force Base, IL
Are there specific mortgage programs available for military and civilian personnel at Scott Air Force Base?
Yes, VA loans are extremely popular and beneficial for military members, offering no down payment and no private mortgage insurance. Additionally, the Illinois Housing Development Authority (IHDA) offers programs like the 1stHomeIllinois loan, which provides down payment assistance and competitive rates for all eligible homebuyers in the area, including base personnel.
How do property tax rates in St. Clair County impact my mortgage payment near Scott AFB?
St. Clair County property taxes are a significant component of your monthly mortgage escrow payment, as they are relatively high compared to national averages. It's crucial to factor this into your budget, as a higher tax rate can increase your total monthly payment by a substantial amount, even if your home loan principal and interest are affordable.
What is the typical down payment needed for a home in the Scott Air Force Base area?
While VA loans require no down payment for eligible service members, conventional loans in the surrounding O'Fallon and Belleville areas often require 3-5% down. For first-time homebuyers using an FHA loan, the minimum down payment is 3.5%, making homeownership accessible given the region's moderately priced housing market.
Are there any local first-time homebuyer grants or assistance programs in the Scott AFB area?
Yes, the City of Belleville offers a Homebuyer Assistance Program that provides up to $10,000 in down payment and closing cost assistance for eligible first-time homebuyers. This, combined with state-level IHDA programs, can significantly reduce the upfront costs of purchasing a home in communities surrounding the base.
How does being a military family with potential PCS orders affect getting a mortgage near Scott AFB?
Lenders in the Scott AFB area are very familiar with military transitions. It's important to discuss your potential Permanent Change of Station (PCS) timeline with your lender, as it can influence the type of loan you choose. Some may even consider a VA loan assumption by a future buyer, which can be a selling point if you need to relocate suddenly.
Nearby Cities
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Why Choose a Mortgage Lender in Scott Air Force Base?
Local Market Knowledge
Lenders who understand Scott Air Force Base'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 Scott Air Force Base and get competitive rates on your home loan.