The Best Mortgage Lenders in Burlington, IN
Compare verified mortgage lenders serving Burlington, Indiana. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Burlington
Featured Mortgage Lenders
Financial Plus Credit Union
Financial Plus Federal Credit Union
Financial Plus Credit Union is a highly-rated regional financial institution serving the Burlington area with exceptional mortgage services. As a member-owned credit union, they offer competitive rates and personalized service that consistently earns top customer satisfaction ratings. Their mortgage team provides comprehensive guidance through the entire home buying process, with special expertise in first-time homebuyer programs and government-backed loans. With deep roots in central Indiana since 1939, they understand local market conditions and offer flexible underwriting that benefits borrowers in the Burlington region.
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The Ruoff Mortgage Team
Ruoff Mortgage
Ruoff Mortgage is one of Indiana's most respected and highest-rated mortgage lenders, serving the entire state including Burlington. With over six decades of experience, they've built an outstanding reputation for competitive rates, transparent processes, and exceptional customer service. Their dedicated mortgage specialists provide personalized attention throughout the loan process, with particularly strong expertise in VA loans and first-time homebuyer programs. Ruoff consistently receives top marks for their streamlined digital application process and local underwriting team that understands Indiana's unique housing markets.
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Ruoff Mortgage - Westfield
Ruoff Mortgage
This Westfield branch of Ruoff Mortgage provides excellent service to the Burlington area with their comprehensive mortgage solutions and local expertise. As one of Indiana's largest independent mortgage lenders, they offer the advantage of local decision-making combined with extensive product options. Their team is particularly noted for handling complex financing scenarios and providing educational resources for homebuyers. With multiple offices across Indiana, they maintain strong community connections while offering competitive rates that often beat national lenders. Their commitment to customer satisfaction is reflected in their consistently high ratings and numerous industry awards.
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Frequently Asked Questions
Common questions about mortgage lending in Burlington, IN
What are the current average mortgage rates for homebuyers in Burlington, IN?
Mortgage rates in Burlington typically align with national averages but can be slightly lower due to the area's rural designation and stable housing market. As of late 2023, 30-year fixed rates in the Kokomo/Burlington area often range between 6.5% and 7.25%, but you should check with local lenders like Horizon Bank or First Farmers Bank for the most current Burlington-specific rates and any special promotions.
Are there any first-time homebuyer programs specifically available in Burlington?
Yes, Burlington homebuyers can access the Indiana Housing and Community Development Authority's (IHCDA) programs, including the Next Home program which offers down payment assistance and competitive interest rates. Additionally, some local credit unions like Financial Center First may offer special first-time buyer loans with flexible credit requirements tailored to Howard County residents.
How does Burlington's rural location affect mortgage lending options?
Burlington's rural designation makes many properties eligible for USDA loans, which offer 100% financing with no down payment requirement. This is particularly beneficial given Burlington's agricultural surroundings and can make homeownership more accessible than in urban areas. Local lenders are well-versed in USDA requirements for this area.
What unique closing costs should Burlington homebuyers expect?
Beyond standard closing costs, Burlington homebuyers should budget for Howard County-specific fees including transfer taxes, title insurance rates that reflect local practices, and potentially well/septic inspections given the rural nature of many properties. Total closing costs typically range from 2-5% of the home's purchase price in the Burlington area.
How competitive is the Burlington mortgage market for investment properties?
While Burlington's rental market serves nearby Kokomo commuters, investment property lending remains conservative with most local lenders requiring 20-25% down payments and higher interest rates. However, several regional banks offer portfolio loans for local investment properties, particularly for single-family homes that appeal to Purdue Polytechnic Institute or Subaru plant employees.
Nearby Cities
Explore mortgage lenders in cities near Burlington, IN
Why Choose a Mortgage Lender in Burlington?
Local Market Knowledge
Lenders who understand Burlington'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 Indiana.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Burlington and get competitive rates on your home loan.