The Best Mortgage Lenders in Altoona, IA
Compare verified mortgage lenders serving Altoona, Iowa. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Altoona
Featured Mortgage Lenders
CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage is a highly-rated national lender with a strong local presence in the Des Moines metropolitan area, including Altoona. Founded in 2003, they have built a reputation for competitive rates, personalized service, and a wide range of loan products. Their experienced loan officers are known for guiding clients through the mortgage process efficiently, with an emphasis on customer satisfaction. With over 180 reviews reflecting their reliability and expertise, they are a top choice for homebuyers in Polk County and surrounding regions.
Loan Types:
New American Funding
New American Funding
New American Funding is a reputable lender with a dedicated office in the Des Moines area, serving Altoona residents since 2003. They are praised for their diverse loan options, including specialized programs for first-time homebuyers and competitive rates. With a focus on community engagement and customer education, they have accumulated over 150 positive reviews highlighting their responsive service and commitment to closing loans quickly. Their local team ensures personalized support for clients in Altoona and nearby communities.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a well-regarded lender with a growing presence in central Iowa, including Altoona. Founded in 2008, they combine national resources with local expertise to offer efficient mortgage solutions and competitive rates. Known for their streamlined processes and community-focused approach, they have earned approximately 95 reviews praising their professionalism and customer care. Their Des Moines-based team provides tailored service for a variety of loan types, making them a reliable option for homebuyers in the area.
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Frequently Asked Questions
Common questions about mortgage lending in Altoona, IA
What are the current mortgage rates like for homebuyers in Altoona, IA?
Mortgage rates in Altoona typically align with national averages but can vary based on local lender competition and property types. Currently, rates for 30-year fixed mortgages in the Des Moines metro area (including Altoona) range from the mid-6% to low-7% range. It's recommended to compare rates from both local credit unions like Veridian Credit Union and national lenders operating in the area.
Are there any first-time homebuyer programs specific to Altoona that I should know about?
While Altoona doesn't have city-specific programs, Iowa Finance Authority programs like FirstHome and FirstHome Plus are widely available to Altoona buyers. These programs offer competitive interest rates and down payment assistance up to $5,000. Many local lenders are well-versed in these programs and can help you determine eligibility based on Altoona's income limits and home price requirements.
How does Altoona's rapid growth affect mortgage lending and home values?
Altoona's status as one of Iowa's fastest-growing cities means lenders often view local properties favorably due to appreciating values. However, the competitive market may require stronger offers, including pre-approval from reputable local lenders. The continuous development in areas like The Prairie and Bassman Corner creates both new construction and resale opportunities with different financing considerations.
What should I know about property taxes when getting a mortgage in Altoona?
Altoona has a consolidated city-county tax rate that's generally competitive within the Des Moines metro area, currently around 1.5-1.7% of assessed value. Your mortgage lender will factor these taxes into your monthly payment through an escrow account. It's important to note that property taxes may increase as city services expand with Altoona's growth, affecting your overall housing payment.
Are there special mortgage considerations for buying in Altoona's newer developments?
Yes, many new construction homes in Altoona's expanding neighborhoods require specific financing considerations. Builders often have preferred lenders who may offer closing cost incentives. For newer subdivisions, lenders may require additional documentation about the development's completion status and might have different appraisal requirements compared to established neighborhoods in Altoona.
Why Choose a Mortgage Lender in Altoona?
Local Market Knowledge
Lenders who understand Altoona'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 Iowa.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Altoona and get competitive rates on your home loan.