The Best Mortgage Lenders in Des Moines, IA
Compare verified mortgage lenders serving Des Moines, Iowa. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Des Moines
Featured Mortgage Lenders
Guarantee Mortgage
Guarantee Mortgage Services, Inc.
Guarantee Mortgage is a highly-rated local mortgage broker serving Des Moines and central Iowa with exceptional customer satisfaction. Founded by industry veterans, they consistently earn 5-star reviews for their personalized service, competitive rates, and expert guidance through the mortgage process. As a local broker, they work with multiple lenders to find the best loan options for each client's unique situation, specializing in first-time homebuyer programs and offering comprehensive support from application to closing.
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Liberty Bank
Liberty Bank Mortgage
Liberty Bank has built a strong reputation as a community-focused mortgage lender with deep roots in the Des Moines area. They offer competitive rates and a wide range of loan products, with particular expertise in construction lending and first-time homebuyer programs. Their local loan officers provide personalized service and quick response times, earning consistent praise for making the mortgage process straightforward and stress-free. The bank's long-standing presence in Iowa ensures deep understanding of local market conditions.
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First American Bank
First American Bank Mortgage Division
First American Bank's mortgage division has established itself as a top choice for Des Moines homebuyers seeking reliable service and competitive financing options. With experienced local loan officers who understand the central Iowa market, they provide tailored mortgage solutions and exceptional customer care. The bank receives consistent positive feedback for their transparent communication, efficient processing, and ability to handle complex loan scenarios. Their strong community involvement and local decision-making authority contribute to their excellent reputation.
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Frequently Asked Questions
Common questions about mortgage lending in Des Moines, IA
What are the current mortgage rates like in Des Moines, and how do they compare to national averages?
Mortgage rates in Des Moines are often very competitive and can be slightly below the national average due to the stable local economy and strong presence of financial institutions. It's wise to compare rates from local credit unions, like those affiliated with the Greater Iowa Credit Union, alongside national lenders. As of late 2023, rates for a 30-year fixed mortgage in Des Moines typically ranged from the high 6% to low 7% APR.
Are there any first-time homebuyer programs in Des Moines that offer down payment assistance?
Yes, the Iowa Finance Authority (IFA) offers several valuable programs for first-time homebuyers in Des Moines, including the FirstHome program which provides affordable 30-year fixed-rate mortgages and down payment assistance. The City of Des Moines also has a local program called "Welcome Home Des Moines" that can provide up to $5,000 in down payment and closing cost assistance for qualifying buyers in specific target neighborhoods.
How does the property tax structure in Des Moines impact my monthly mortgage payment?
Property taxes in Des Moines (Polk County) are a significant component of your monthly escrow payment. The consolidated tax rate for Des Moines is approximately $33-$35 per $1,000 of assessed value, which is relatively high for Iowa but is offset by lower overall home prices. Your lender will calculate this into your PITI (Principal, Interest, Taxes, Insurance) payment, so it's crucial to budget for this local expense.
What special mortgage considerations should I be aware of when buying in Des Moines' historic neighborhoods like Sherman Hill or the Drake Neighborhood?
When purchasing in Des Moines' historic districts, you may need a specialized renovation loan like a FHA 203(k) if the home requires significant updates, as many are older properties. Furthermore, if the home is designated as a local historic landmark, there may be restrictions on exterior modifications that could affect your property's value and insurability, so it's important to work with a lender familiar with these unique local circumstances.
How competitive is the Des Moines housing market, and how can I make my mortgage offer stronger?
The Des Moines market remains competitive for well-priced homes in desirable neighborhoods like Beaverdale or Waterbury, though it has cooled from its peak. To strengthen your offer, get pre-approved with a reputable local lender, consider waiving certain contingencies (if financially prudent), and be prepared for a faster closing timeline. A strong pre-approval from an Iowa-based lender can often be more favorably viewed by sellers than one from an out-of-state online lender.
Nearby Cities
Explore mortgage lenders in cities near Des Moines, IA
Why Choose a Mortgage Lender in Des Moines?
Local Market Knowledge
Lenders who understand Des Moines'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 Des Moines and get competitive rates on your home loan.