The Best Mortgage Lenders in Ames, IA
Compare verified mortgage lenders serving Ames, Iowa. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Ames
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is highly regarded for its exceptional customer service, competitive rates, and wide array of loan options. With a strong local presence in central Iowa, they serve Ames residents through personalized guidance and efficient processing. Their team is known for transparency and support throughout the mortgage process, making them a top choice for homebuyers and refinancers in the area.
Loan Types:
Movement Mortgage
Movement Mortgage
Movement Mortgage is praised for its fast closings, innovative technology, and high customer satisfaction rates. They offer a comprehensive range of mortgage products and have a dedicated Iowa team that serves Ames with local expertise. Their commitment to community engagement and streamlined processes makes them a reliable option for home loans in the region.
Loan Types:
Guaranteed Rate
Guaranteed Rate
Guaranteed Rate combines competitive pricing with a digital-first approach, providing an efficient and transparent mortgage experience. Their local West Des Moines office serves Ames with a team of experienced loan officers, offering personalized service and a wide variety of loan options. High ratings reflect their reliability and customer-focused approach in the Iowa market.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Ames, IA
What are the current average mortgage rates in Ames, Iowa?
Mortgage rates in Ames typically run very close to the national average. As of late 2023, 30-year fixed rates in the area have generally been in the 6.5% to 7% range, but it's crucial to get personalized quotes from local lenders like First National Bank or Ames Community Bank, as your specific credit profile and loan type will determine your final rate.
Are there any first-time homebuyer programs specific to Ames that can help with a down payment?
Yes, the Iowa Finance Authority offers its FirstHome program statewide, which provides competitive interest rates and down payment assistance for qualified buyers in Ames. Additionally, the City of Ames itself occasionally has local grant programs for income-eligible buyers purchasing within city limits, so it's wise to check their housing division's website for current offerings.
How does the presence of Iowa State University impact the mortgage and housing market in Ames?
Iowa State University creates a strong, stable rental market, which can be attractive for buyers considering an investment property. However, for a primary residence, be aware that competition can be fiercer for homes near campus, and lenders may scrutinize appraisals more closely in these high-demand neighborhoods to ensure the value is supported.
What should I know about property taxes when getting a mortgage in Ames?
Story County, where Ames is located, has property taxes that are a significant component of your monthly mortgage payment. The effective tax rate in Ames is typically around 1.5% of the assessed value. Your lender will calculate this into your escrow account, but it's a key local cost to budget for, as it can add several hundred dollars to your monthly payment.
Are USDA loans a viable option for buying a home in Ames, IA?
While much of Ames is considered a "rural development" area by the USDA, the specific census tract eligibility can change. Many neighborhoods on the outskirts of the city still qualify for USDA loans, which offer 100% financing. You should work with a local mortgage officer who can use the USDA eligibility map to confirm if your desired property qualifies for this zero-down-payment program.
Why Choose a Mortgage Lender in Ames?
Local Market Knowledge
Lenders who understand Ames'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 Ames and get competitive rates on your home loan.