The Best Mortgage Lenders in Taylor Springs, IL
Compare verified mortgage lenders serving Taylor Springs, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Taylor Springs
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated national mortgage lender with a strong presence in Illinois, known for its competitive rates and digital mortgage process. Founded in 2000, it has built a reputation for excellent customer service, fast closings, and a wide range of loan options. With high ratings from borrowers for its transparency and efficiency, it serves Taylor Springs and surrounding areas through its online platform and local loan officers, making it a reliable choice for homebuyers seeking convenience and reliability.
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New American Funding
New American Funding, LLC
New American Funding is a highly-rated mortgage lender that emphasizes diversity and personalized service, with operations extending to Illinois and Taylor Springs. Founded in 2003, it offers a broad portfolio of loan products and is praised for its competitive rates, knowledgeable staff, and commitment to helping underserved communities. Customers highlight its responsive support and smooth application process, making it a standout option for those seeking a lender with a strong track record and community focus.
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Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a reputable lender with decades of experience and a strong regional presence, including service to Taylor Springs. Founded in 1996, it is known for its competitive rates, extensive loan options, and exceptional customer service, with many reviews praising its efficient and friendly loan officers. The company's focus on building long-term relationships and its ability to handle complex mortgage scenarios make it a trusted choice for homebuyers in the area.
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Frequently Asked Questions
Common questions about mortgage lending in Taylor Springs, IL
What are the current average mortgage rates for homebuyers in Taylor Springs, IL?
Mortgage rates in Taylor Springs typically align with national averages but can vary based on local lenders and your financial profile. As of recent trends, you might expect rates in the 6.5% to 7.5% range for a 30-year fixed loan. It's wise to compare offers from local credit unions like the First National Bank in nearby Hillsboro, as they sometimes offer competitive rates for Montgomery County residents.
Are there any first-time homebuyer programs specific to Taylor Springs or Montgomery County?
Yes, the Illinois Housing Development Authority (IHDA) offers statewide programs like the 1stHomeIllinois loan, which provides down payment assistance and affordable fixed-rate mortgages. While Taylor Springs itself doesn't have a city-specific program, Montgomery County homebuyers can access these IHDA programs, which are particularly helpful given the area's moderate home prices.
How does Taylor Springs' rural location affect the mortgage process?
Taylor Springs' rural setting means some lenders may require additional property inspections, like well and septic checks, which aren't common in urban areas. Additionally, if the property is on a larger lot (common in the area), appraisals might take slightly longer as comparable sales can be fewer. Working with a lender familiar with Montgomery County's rural properties can streamline this process.
What are typical closing costs for mortgages in Taylor Springs?
Closing costs in Taylor Springs generally range from 2% to 5% of the home's purchase price. This includes standard fees like title insurance, recording fees with the Montgomery County Recorder, and transfer taxes. Given the area's affordable housing market, total closing costs are often lower than in larger Illinois cities, but you should always request a detailed Loan Estimate from your lender.
Are USDA loans available in Taylor Springs, and am I likely to qualify?
Yes, Taylor Springs' location makes most of the area eligible for USDA rural development loans, which offer 100% financing. Given the village's population and rural designation, many buyers can qualify for these zero-down-payment loans if they meet income limits (which are generous for Montgomery County). This is a popular option for buyers seeking affordable entry into the local market.
Nearby Cities
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Why Choose a Mortgage Lender in Taylor Springs?
Local Market Knowledge
Lenders who understand Taylor Springs'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 Taylor Springs and get competitive rates on your home loan.