The Best Mortgage Lenders in Eaton, IN
Compare verified mortgage lenders serving Eaton, Indiana. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Eaton
Featured Mortgage Lenders
MutualFirst Financial
MutualFirst Financial
As one of the most established financial institutions in East Central Indiana, MutualFirst Financial has been serving Eaton and surrounding communities for over a century. This community-focused lender offers personalized mortgage solutions with local underwriting and decision-making. Their experienced loan officers provide competitive rates on all major loan types, and they maintain strong relationships with local real estate professionals. With multiple branches throughout the region and deep roots in Delaware County, they understand the local housing market dynamics and provide exceptional customer service to homebuyers in rural communities like Eaton.
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Ruoff Mortgage
Ruoff Mortgage Company
Ruoff Mortgage is a highly-rated regional mortgage lender headquartered in Fort Wayne with a strong presence in East Central Indiana, including serving Eaton residents. With over six decades of experience, they've built an exceptional reputation for competitive rates and outstanding customer service. Their local Muncie office provides convenient access for Eaton homebuyers, and they offer a comprehensive range of loan programs including specialized options for rural properties. Ruoff consistently receives top marks for their efficient processing, transparent communication, and commitment to making the mortgage process smooth and understandable for borrowers.
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First Merchants Bank
First Merchants Bank
First Merchants Bank is a well-established regional financial institution with deep roots throughout Indiana, including strong coverage in Delaware County where Eaton is located. They offer a full suite of mortgage products with the advantage of local decision-making and personalized service. Their mortgage specialists have extensive experience working with buyers in smaller communities like Eaton and understand the unique aspects of rural property financing. As a community bank with a long history, they provide competitive rates combined with the stability and trust of a local institution, making them a top choice for Eaton area homebuyers seeking reliable mortgage services.
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Frequently Asked Questions
Common questions about mortgage lending in Eaton, IN
What are current mortgage rates like for homes in Eaton, IN?
Mortgage rates in Eaton typically align with national averages but can be slightly lower due to the area's rural classification and lower cost of living. As of late 2023, 30-year fixed rates in Delaware County generally range from 6.5% to 7.25%, though individual rates depend on credit score, loan type, and down payment. Local lenders like First Merchants Bank or MutualBank often offer competitive rates specifically for Eaton homebuyers.
Are there any first-time homebuyer programs specifically available in Eaton?
Yes, Eaton 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 Delaware County-specific programs may provide closing cost assistance for qualified buyers. These programs are particularly valuable in Eaton's affordable market where median home prices are below state averages.
How does Eaton's rural location affect mortgage lending options?
Eaton's rural designation makes buyers eligible for USDA Rural Development loans, which offer 100% financing with no down payment required - a significant advantage in this market. Many properties in and around Eaton qualify for these USDA loans, providing an accessible path to homeownership that isn't available in more urban areas. Local lenders are well-versed in these rural-specific loan products.
What should I know about property taxes when getting a mortgage in Eaton?
Eaton property taxes in Delaware County are relatively moderate compared to larger Indiana cities, typically ranging from 0.8% to 1.2% of assessed value. When calculating your mortgage payment, lenders will include these taxes in your escrow account. It's important to note that Delaware County recently completed a reassessment, so verify the exact tax amount for any property you're considering.
Are there local down payment assistance programs for Eaton homebuyers?
While Eaton itself doesn't offer city-specific programs, Delaware County provides down payment assistance through the IHCDA's Homeownership Opportunities Program. Some local employers like Eaton-based manufacturers may also offer employer-assisted housing programs. Many buyers in Eaton successfully use FHA loans with their 3.5% minimum down payment requirement, which works well with the area's affordable home prices.
Why Choose a Mortgage Lender in Eaton?
Local Market Knowledge
Lenders who understand Eaton'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 Eaton and get competitive rates on your home loan.