The Best Mortgage Lenders in Bedford, IA
Compare verified mortgage lenders serving Bedford, Iowa. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Bedford
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is highly rated for its exceptional customer service, competitive rates, and efficient loan processing. With over 28 years in business, they have a strong presence in Iowa and are known for their personalized approach, offering a wide range of loan products. They consistently receive positive feedback for their reliability and community involvement, making them a top choice for homeowners in Bedford and surrounding areas.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is praised for its fast closings, transparent processes, and dedicated local loan officers who provide personalized service. Founded in 2008, they have built a reputation for high customer satisfaction and community support in Iowa. Their expertise in various loan programs and commitment to borrower education make them a reliable option for Bedford residents seeking competitive mortgage solutions.
Loan Types:
Supreme Lending
Supreme Lending
Supreme Lending is recognized for its extensive experience and strong local presence in Iowa, offering tailored mortgage solutions with a focus on customer care. Established in 1999, they have a track record of positive reviews for their knowledgeable staff and efficient service. They provide a comprehensive range of loan types and are known for their competitive rates and support throughout the home buying process, serving Bedford and the broader region effectively.
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Frequently Asked Questions
Common questions about mortgage lending in Bedford, IA
What are the current average mortgage rates for homebuyers in Bedford, IA?
Mortgage rates in Bedford typically align with national averages but can vary based on local lender competition. As of late 2024, conventional 30-year fixed rates in Taylor County generally range from 6.5% to 7.25%, though rural lending programs through local institutions like Bedford National Bank may offer slightly lower rates for qualified buyers. It's best to compare offers from both local community banks and larger regional lenders serving southwest Iowa.
Are there any first-time homebuyer programs specifically available in Bedford?
Yes, Bedford homebuyers can access the Iowa Finance Authority's FirstHome program, which offers competitive interest rates and down payment assistance. Additionally, Taylor County residents may qualify for USDA Rural Development loans, which are particularly relevant for Bedford properties and offer 100% financing with no down payment required for eligible borrowers in this designated rural area.
How does Bedford's rural location affect mortgage lending options?
Bedford's designation as a rural community opens access to USDA loans, which are excellent for qualified buyers seeking no-down-payment options. However, the limited number of local lenders means you might need to work with regional banks from nearby cities like Creston or Clarinda. Appraisal challenges can occasionally occur due to fewer comparable sales in the area, so working with lenders experienced in rural Iowa properties is beneficial.
What should I know about property taxes when getting a mortgage in Bedford?
Taylor County property taxes in Bedford are relatively affordable compared to urban Iowa areas, currently averaging about 1.3-1.5% of assessed value. Your mortgage lender will factor these taxes into your escrow calculations, and it's important to note that agricultural land assessments can affect overall tax rates in the area. First-time buyers should specifically ask lenders about the Iowa Homestead Tax Credit for additional savings.
Are there any local down payment assistance programs for Bedford homebuyers?
Beyond state programs, Bedford homebuyers can explore the Taylor County Housing Trust Fund, which occasionally offers down payment assistance to income-qualified residents. Some local employers, including Bedford's manufacturing and healthcare facilities, may offer employer-assisted housing programs. Additionally, the Iowa Mortgage Credit Certificate program can provide significant tax savings for qualified first-time buyers in the Bedford area.
Why Choose a Mortgage Lender in Bedford?
Local Market Knowledge
Lenders who understand Bedford'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 Bedford and get competitive rates on your home loan.