The Best Mortgage Lenders in Urbana, IN
Compare verified mortgage lenders serving Urbana, Indiana. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Urbana
Featured Mortgage Lenders
Lake City Bank Mortgage Team
Lake City Bank
Lake City Bank is one of Indiana's most established and highly-rated regional banks with a strong presence in northern Indiana. While headquartered in Warsaw, they serve the entire region including Urbana with dedicated mortgage specialists. They offer competitive rates and a wide variety of loan products with the advantage of local decision-making and personalized service. Their mortgage team has exceptional customer satisfaction ratings and deep knowledge of the local real estate market.
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Three Rivers Federal Credit Union Mortgage Department
Three Rivers Federal Credit Union
Three Rivers Federal Credit Union is a highly-regarded financial institution serving multiple counties in northern Indiana, including Wabash County where Urbana is located. They offer competitive mortgage rates and exceptional member service with a focus on community banking. Their mortgage specialists provide personalized guidance through the entire home buying process, and they have strong ratings for customer satisfaction and transparency in lending.
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Guild Mortgage - Fort Wayne Branch
Guild Mortgage Company
Guild Mortgage is a nationally recognized mortgage lender with a strong local presence in Fort Wayne that serves the Urbana area. They have excellent customer reviews for their responsive service and competitive loan options. As a mortgage-focused company, they offer specialized expertise and flexible underwriting. Their local loan officers have deep knowledge of the northern Indiana market and provide personalized service with access to a wide range of loan programs.
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Frequently Asked Questions
Common questions about mortgage lending in Urbana, IN
What are the current mortgage rates like for homebuyers in Urbana, IN?
Mortgage rates in Urbana typically align with national averages but can vary slightly based on local lender competition. As of recent trends, rates for 30-year fixed mortgages in this area generally range from 6.5% to 7.25%, though specific rates depend on your credit score, loan type, and down payment amount. Local lenders like First Federal Savings Bank or MutualBank often offer competitive rates for Urbana residents.
Are there any first-time homebuyer programs specifically available in Urbana?
Yes, Urbana homebuyers can access Indiana's statewide programs like the Indiana Housing and Community Development Authority's (IHCDA) Next Home program, which offers down payment assistance and competitive interest rates. While Urbana itself doesn't have city-specific programs, Wabash County residents may qualify for additional local grants or closing cost assistance through community development initiatives.
How does Urbana's rural location affect mortgage lending options?
Urbana's rural designation opens up USDA loan opportunities, which offer 100% financing with no down payment requirement for eligible borrowers. Many properties in and around Urbana qualify for USDA rural development loans, making homeownership more accessible. However, some national lenders may have limited local presence, so working with regional banks familiar with Wabash County properties is advantageous.
What special considerations should I know about property taxes when getting a mortgage in Urbana?
Wabash County property taxes in Urbana are relatively moderate compared to urban Indiana areas, typically ranging from 0.8% to 1.2% of assessed value. Your mortgage lender will factor these taxes into your monthly escrow payments, and it's important to note that agricultural land surrounding Urbana may have different tax assessments that could affect nearby residential properties.
How competitive is the Urbana housing market, and how might that impact my mortgage pre-approval?
Urbana's housing market is moderately competitive with affordable median home prices around $150,000-$200,000. Having a strong pre-approval from a local lender can give you an advantage when making offers, as sellers appreciate working with lenders familiar with Wabash County's market conditions. Quick closing timelines (30-45 days) are often expected, so ensure your mortgage documentation is thoroughly prepared.
Why Choose a Mortgage Lender in Urbana?
Local Market Knowledge
Lenders who understand Urbana'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 Urbana and get competitive rates on your home loan.