The Best Mortgage Lenders in Venice, IL
Compare verified mortgage lenders serving Venice, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Venice
Featured Mortgage Lenders
Paramount Bank Mortgage
Paramount Bank
Paramount Bank has established itself as one of the top-rated mortgage lenders in the St. Louis metropolitan area, serving clients throughout the region including Venice, Illinois. With exceptional 4.8-star ratings across multiple review platforms, they are renowned for their competitive rates, personalized service, and efficient loan processing. Their team of experienced mortgage professionals specializes in both purchase and refinance transactions, with particular expertise in FHA and VA loans that benefit many homebuyers in the Venice area. The bank's strong community presence and commitment to customer satisfaction make them a preferred choice for Illinois residents seeking reliable mortgage services.
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USA Mortgage
USA Mortgage - DAS Acquisition Company, LLC
USA Mortgage consistently ranks among the highest-rated mortgage lenders in the St. Louis region, with an impressive 4.9-star rating based on hundreds of customer reviews. Serving the entire metro area including Venice, Illinois, they have built a stellar reputation for exceptional customer service, competitive rates, and streamlined loan processes. Their team of local loan officers has extensive experience helping Illinois clients navigate the unique aspects of cross-state home purchases. Specializing in all major loan types with particular strength in first-time homebuyer programs, USA Mortgage has consistently been recognized as a top mortgage originator in the Midwest region.
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First Community Credit Union
First Community Credit Union
First Community Credit Union brings decades of trusted mortgage lending experience to the Metro East Illinois area, including comprehensive service to Venice residents. As a member-owned financial institution with deep roots in the community, they offer highly competitive rates and personalized service that consistently earns 4.7-star ratings. Their local Swansea branch provides convenient access for Venice homebuyers, and their mortgage team specializes in understanding the unique aspects of Illinois property transactions. With a full range of mortgage products and exceptional member benefits, First Community Credit Union has built a reputation for making the home financing process smooth and affordable for Illinois residents.
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Frequently Asked Questions
Common questions about mortgage lending in Venice, IL
What are the typical mortgage rates available for homebuyers in Venice, IL?
Mortgage rates in Venice, IL, are generally in line with national averages but can be influenced by local economic factors and property types common in the area. As of recent trends, rates for a 30-year fixed mortgage typically range from the mid-6% to low-7% range, though this can vary based on credit score, loan type, and lender. It's advisable to compare offers from local lenders and credit unions who understand the Venice market.
Are there any first-time homebuyer programs specifically for Venice, IL residents?
Yes, Venice homebuyers can access Illinois Housing Development Authority (IHDA) programs like the 1stHomeIllinois loan, which offers competitive interest rates and down payment assistance. Additionally, some local lenders may offer special programs tailored to the Venice area's lower median home prices. These programs can make homeownership more accessible with as little as 3% down and assistance grants.
How does Venice's proximity to St. Louis affect mortgage lending and property values?
Venice's location directly across the Mississippi River from St. Louis provides both commuting benefits and unique lending considerations. Lenders may view properties in Venice favorably due to the stable employment opportunities in the metro area, but they also carefully assess flood insurance requirements given the city's riverfront location. This proximity generally supports property values while requiring specific insurance considerations in mortgage calculations.
What special insurance requirements should I know about when getting a mortgage in Venice, IL?
Due to Venice's location in a floodplain near the Mississippi River, most mortgage lenders will require flood insurance in addition to standard homeowners insurance. This mandatory coverage can add $500-$1,500 annually to your housing costs, which lenders must factor into your debt-to-income ratio. It's crucial to obtain flood zone determinations early in the mortgage process to avoid surprises.
Are there any local down payment assistance programs available for Venice homebuyers?
Beyond state programs, Venice homebuyers may qualify for Madison County-specific assistance programs through organizations like the Madison County Community Development. These programs often provide down payment and closing cost assistance to low and moderate-income buyers, particularly valuable given Venice's affordable housing market where smaller assistance amounts can make significant differences in homeownership accessibility.
Nearby Cities
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Why Choose a Mortgage Lender in Venice?
Local Market Knowledge
Lenders who understand Venice'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 Venice and get competitive rates on your home loan.