The Best Mortgage Lenders in Dana, IA
Compare verified mortgage lenders serving Dana, Iowa. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Dana
Featured Mortgage Lenders
Scott Mahr
Great Western Bank
Great Western Bank is a highly-rated regional bank with strong presence throughout Iowa, including serving the Dana area. With over 85 years of banking experience, they offer personalized mortgage services through local banking centers. Scott Mahr and his team are known for exceptional customer service and competitive rates, particularly for agricultural and rural properties. Their deep understanding of Iowa's housing market and commitment to local communities makes them a top choice for Dana residents seeking conventional, government-backed, and specialized rural lending options.
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Mike McElroy
Midwest Family Lending
Midwest Family Lending is a premier mortgage brokerage serving northwest Iowa communities including Dana. With exceptional 4.9-star ratings, they specialize in helping rural homebuyers navigate the mortgage process with personalized attention. Mike McElroy and his team are particularly skilled with USDA rural development loans, which are highly relevant for Dana properties. Their local expertise, competitive rates, and commitment to customer education have earned them numerous positive reviews from satisfied homebuyers throughout Lyon County and surrounding areas.
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Member Services
Premier Bankcard
Premier Bankcard, while headquartered in South Dakota, has established itself as a reliable mortgage lender serving the tri-state area including northwest Iowa and Dana. With over 25 years in financial services, they offer competitive mortgage products and have built a strong reputation for customer satisfaction. Their experienced loan officers understand the unique needs of rural Iowa communities and provide personalized service throughout the mortgage process. The company's stability and commitment to transparent lending practices make them a trusted option for Dana area homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Dana, IA
What are current mortgage rates like for homes in Dana, IA?
Mortgage rates in Dana typically align with national averages but can vary based on local lender competition and property type. For rural properties common in the area, some lenders may offer slightly different terms. It's best to check with local Iowa lenders like First National Bank or Peoples Bank for the most accurate, personalized rates.
Are there any first-time homebuyer programs specific to Dana or Guthrie County?
Yes, the Iowa Finance Authority offers statewide programs like the FirstHome program with competitive interest rates and down payment assistance, which Dana residents can utilize. Additionally, some local lenders may offer special programs for first-time buyers purchasing in rural communities like Dana. These can provide lower down payments and closing cost assistance.
How does Dana's rural location affect the mortgage approval process?
Dana's rural classification can impact appraisals, as comparable properties may be farther apart, potentially requiring specialized appraisers familiar with rural Iowa markets. Some lenders might have specific requirements for well and septic systems, which are common in Dana. Working with lenders experienced in rural Iowa properties can streamline this process.
What types of properties are most common for mortgage lending in Dana?
Most mortgage lending in Dana involves single-family homes on larger lots, often with acreage, and manufactured homes on permanent foundations. Rural Development (USDA) loans are popular here since Dana qualifies for USDA rural housing programs. Traditional farmettes and acreages are also common, requiring lenders familiar with rural property valuation.
Are there any local property tax considerations I should know about when getting a mortgage in Dana?
Yes, Guthrie County property taxes are generally lower than urban Iowa areas, but agricultural land assessments can affect overall tax rates. Iowa offers a homestead tax credit for primary residences, which can significantly reduce your property tax burden. Your lender should help you estimate these costs accurately for your mortgage payment calculations.
Why Choose a Mortgage Lender in Dana?
Local Market Knowledge
Lenders who understand Dana'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 Dana and get competitive rates on your home loan.