The Best Mortgage Lenders in Schererville, IN
Compare verified mortgage lenders serving Schererville, Indiana. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Schererville
Featured Mortgage Lenders
New American Funding
New American Funding
New American Funding is a top-rated mortgage lender with a strong local presence in Northwest Indiana, serving Schererville directly from their Merrillville office. Founded in 2003, they are renowned for competitive rates, exceptional customer service, and a wide range of loan products. Their high rating and substantial review count reflect consistent customer satisfaction, with expertise in first-time homebuyer programs, refinancing, and government-backed loans. They prioritize personalized service and community engagement, making them a trusted choice in the region.
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Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a highly reputable lender with deep roots in the Schererville area, operating from their Merrillville branch. Established in 1996, they boast nearly three decades of experience and are celebrated for their innovative technology, competitive pricing, and outstanding customer support. With a 4.9 rating from over 200 reviews, they excel in providing tailored mortgage solutions, including specialized programs for veterans and low-down-payment options. Their commitment to local communities and reliable service makes them a premier choice for home financing.
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Caliber Home Loans
Caliber Home Loans
Caliber Home Loans is a well-established mortgage lender serving Schererville and the broader Northwest Indiana region from their Merrillville office. Founded in 2008, they have built a strong reputation for flexibility, competitive rates, and a customer-centric approach. With a 4.7 rating and 150 reviews, they are praised for efficient processing and a diverse portfolio of loan types, including refinancing and purchase loans. Their expertise in navigating complex financial situations and commitment to transparency ensures a smooth homebuying experience, solidifying their status as a top lender in the area.
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Frequently Asked Questions
Common questions about mortgage lending in Schererville, IN
What are the current mortgage rates like for homebuyers in Schererville, IN?
Mortgage rates in Schererville typically align with national averages but can vary based on local lender competition. As of recent trends, Schererville buyers are seeing competitive rates from both regional banks and credit unions. It's wise to compare offers from local institutions like Centier Bank and Peoples Bank, which often have strong community lending programs.
Are there any first-time homebuyer programs specific to Schererville?
While Schererville doesn't have city-specific programs, Indiana's statewide programs like the Indiana Housing and Community Development Authority's (IHCDA) Next Home program are widely used here. These programs offer down payment assistance and favorable terms for qualifying buyers in Schererville's competitive housing market, particularly helpful for those looking at starter homes in neighborhoods like Robbinhurst or Westwind.
How does Schererville's property tax rate affect my mortgage payments?
Schererville's property tax rates in Lake County are among the highest in Indiana, currently around 1.8-2.2% of assessed value. This significantly impacts your monthly mortgage payment since lenders include property taxes in escrow calculations. When budgeting for a Schererville home, factor in these higher taxes, especially for properties in the Duneland School District which maintains premium services.
What unique closing costs should I expect when buying a home in Schererville?
Beyond standard closing costs, Schererville homebuyers should budget for Lake County-specific fees including transfer taxes and higher recording fees. Additionally, Schererville's requirement for thorough home inspections (particularly for older homes in established neighborhoods) often adds to upfront costs. Local lenders familiar with Northwest Indiana transactions can provide detailed estimates specific to Schererville properties.
How competitive is the mortgage pre-approval process in Schererville's housing market?
Schererville's desirable location in Northwest Indiana creates a competitive market where pre-approval is essential. Local sellers often prioritize buyers with pre-approval from reputable Indiana lenders who understand the area's appraisal challenges. Given the quick movement of properties in popular subdivisions like Summer Grove, having a strong pre-approval from a local credit union or mortgage company can significantly strengthen your offer.
Why Choose a Mortgage Lender in Schererville?
Local Market Knowledge
Lenders who understand Schererville'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 Schererville and get competitive rates on your home loan.