The Best Mortgage Lenders in Homer, IN
Compare verified mortgage lenders serving Homer, Indiana. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Homer
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender known for its exceptional customer service, competitive rates, and extensive loan options. With over 28 years in business, they have a strong presence in Indiana, including Homer, and are highly regarded for their efficient, personalized mortgage processes. Their team of local experts ensures a smooth experience for homebuyers, backed by numerous positive reviews highlighting reliability and community commitment.
Loan Types:
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a nationally recognized mortgage lender with a strong local presence in Indiana, serving Homer and surrounding areas. Founded in 2000, they offer a digital-friendly approach combined with personalized service, resulting in high customer satisfaction ratings. Their competitive rates, wide range of loan products, and efficient closing processes make them a preferred choice for many homebuyers in the region.
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First Internet Bank of Indiana
First Internet Bank of Indiana
First Internet Bank of Indiana is a pioneering online lender that provides convenient and competitive mortgage solutions to residents of Homer and statewide. Established in 1999, they combine digital efficiency with local expertise, offering a variety of loan types tailored to individual needs. Their high ratings reflect a commitment to customer service, transparency, and competitive pricing, making them a reliable option for modern homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Homer, IN
What are the current mortgage rates like in Homer, IN compared to the national average?
Mortgage rates in Homer, IN typically align closely with national averages, but local lenders may offer competitive rates due to the smaller market. As of late 2023, rates for a 30-year fixed mortgage in the area often range from 6.5% to 7%, but it's best to check with local banks or credit unions like First Farmers Bank & Trust for the most accurate, personalized quotes.
Are there any first-time homebuyer programs specific to Homer or Miami County that can help with down payments?
Yes, the Indiana Housing and Community Development Authority (IHCDA) offers programs like the Next Home and My Home programs, which provide down payment assistance for eligible buyers in Homer and Miami County. These programs can offer up to 3-4% of the home's purchase price in assistance, and local lenders can help you determine your eligibility based on income and credit.
How does Homer's rural location affect the mortgage appraisal process?
Homer's rural setting means appraisals may take longer and require appraisers familiar with the area's property types, such as agricultural land or older homes. Lenders often work with appraisers from nearby cities like Peru or Kokomo to ensure accurate valuations, but buyers should be prepared for potential delays compared to urban areas.
What types of properties in Homer might qualify for USDA loans, and how can I check eligibility?
Many homes in Homer qualify for USDA loans due to the area's rural designation. These loans offer 100% financing for eligible properties and borrowers. You can check specific eligibility using the USDA's online eligibility map and consult with a local loan officer to confirm if the property and your income meet the requirements.
Are property taxes in Homer, IN typically included in mortgage escrow, and how do they compare to nearby areas?
Yes, most lenders in Homer include property taxes in your monthly escrow payment. Miami County's property tax rates are generally moderate, often around 0.85% to 1.1% of assessed value, which is competitive compared to urban counties in Indiana. Your lender will estimate these costs during pre-approval to ensure accurate monthly payments.
Why Choose a Mortgage Lender in Homer?
Local Market Knowledge
Lenders who understand Homer'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 Homer and get competitive rates on your home loan.