The Best Mortgage Lenders in Centerville, IA
Compare verified mortgage lenders serving Centerville, Iowa. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Centerville
Featured Mortgage Lenders
Community 1st Credit Union
Community 1st Credit Union
Community 1st Credit Union stands out as one of southern Iowa's most trusted mortgage lenders with over eight decades of service. While headquartered in Creston, they actively serve the Centerville area with personalized mortgage solutions and competitive rates. Their exceptional 4.8 rating reflects outstanding customer satisfaction, particularly for first-time homebuyers and those seeking USDA rural development loans. As a member-owned financial cooperative, they prioritize community relationships over profits, offering lower fees and more flexible underwriting than many larger institutions.
Loan Types:
Bank Iowa
Bank Iowa
Bank Iowa provides exceptional localized mortgage services with an actual physical branch located right in Centerville, making them highly accessible for local residents. With over a century of community banking experience, they offer deep understanding of southern Iowa's real estate market. Their 4.7 rating demonstrates consistent customer satisfaction, particularly for construction loans and conventional mortgages. Bank Iowa's local loan officers provide personalized service and quick decision-making, with the stability of a well-established regional bank that understands the specific needs of Appanoose County homeowners.
Loan Types:
Guild Mortgage Company
Guild Mortgage Company
Guild Mortgage Company brings national lending power with strong Iowa presence, regularly serving the Centerville area from their West Des Moines office. With a 4.6 rating and extensive review history, they're particularly noted for their exceptional VA loan expertise and comprehensive down payment assistance programs. Their 60+ years in business provides stability and extensive product options, while their local loan officers maintain strong knowledge of southern Iowa's housing market. Guild consistently receives praise for their responsive communication and ability to close loans efficiently, making them a top choice for buyers throughout the region.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Centerville, IA
What are the current average mortgage rates for homebuyers in Centerville, IA?
Mortgage rates in Centerville typically align with national averages but can vary slightly based on local lenders. As of recent data, 30-year fixed rates in the area range from 6.5% to 7%, while 15-year fixed rates are around 5.75% to 6.25%. It's best to check with local Centerville banks and credit unions like First Iowa State Bank for the most current personalized rates.
Are there any first-time homebuyer programs specifically available in Centerville?
Yes, Centerville homebuyers can access Iowa Finance Authority programs like the FirstHome program, which offers competitive interest rates and down payment assistance. Additionally, local institutions like Centerville National Bank sometimes offer special first-time buyer incentives. These programs are particularly valuable given Centerville's median home prices being below state averages.
How does Centerville's property tax structure affect mortgage payments?
Appanoose County property taxes in Centerville average approximately 1.4% of assessed value, which is slightly below Iowa's state average. This means a $150,000 home would have annual taxes around $2,100, adding approximately $175 to your monthly mortgage payment when escrowed. The stable tax rate provides predictable housing costs for mortgage budgeting.
What types of properties typically require special mortgage consideration in Centerville?
Older historic homes in Centerville's designated districts and rural properties outside city limits often require additional scrutiny. Historic homes may need specialized inspections, while rural properties might need well and septic certifications. Local lenders familiar with Appanoose County are best equipped to handle these unique property types common in the area.
How competitive is the mortgage lending market among Centerville financial institutions?
Centerville has a competitive lending environment with several local banks, credit unions, and regional lenders serving the area. Institutions like First Iowa State Bank, Centerville National Bank, and Appanoose County Credit Union often compete on rates and closing costs. This competition benefits borrowers, particularly for conventional loans on Centerville's moderately priced housing stock.
Why Choose a Mortgage Lender in Centerville?
Local Market Knowledge
Lenders who understand Centerville'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 Centerville and get competitive rates on your home loan.