The Best Mortgage Lenders in Edgewood, IA
Compare verified mortgage lenders serving Edgewood, Iowa. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Edgewood
Featured Mortgage Lenders
Travis Stelken
Manchester State Bank
Manchester State Bank has been serving Eastern Iowa communities for nearly 90 years and is particularly strong in serving rural areas like Edgewood. They offer personalized mortgage services with local decision-making, which allows for faster processing and more flexible underwriting. Their loan officers have deep knowledge of USDA rural development loans, which are particularly relevant for Edgewood residents. The bank maintains consistently high customer satisfaction ratings due to their community-focused approach and competitive rate offerings for both purchase and refinance transactions.
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Mortgage Department
Dupaco Community Credit Union
Dupaco Community Credit Union is one of Eastern Iowa's most trusted mortgage lenders with a strong presence throughout the region including service to Edgewood. They offer competitive rates and exceptional member service, with mortgage specialists who guide borrowers through the entire process. Their first-time homebuyer programs are particularly well-regarded, and they offer educational resources to help members make informed decisions. Dupaco's not-for-profit structure often allows them to offer lower fees and better terms than traditional banks, and they have extensive experience with rural property financing.
Loan Types:
Mortgage Team
Veridian Credit Union
Veridian Credit Union serves communities throughout Iowa including Edgewood, offering comprehensive mortgage solutions with a focus on personalized service. They have particularly strong construction and lot loan programs, which are valuable in growing rural communities. Their digital mortgage application process is user-friendly while maintaining the personal touch of local underwriting. Veridian is known for their competitive rates and flexible qualification criteria, with mortgage consultants who have extensive experience with Iowa's rural housing markets and agricultural property considerations.
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Frequently Asked Questions
Common questions about mortgage lending in Edgewood, IA
What are the current average mortgage rates for homebuyers in Edgewood, Iowa?
Mortgage rates in Edgewood typically align with national averages but can vary based on local lender competition. As of 2024, you can expect conventional 30-year fixed rates around 6.5-7% in the Edgewood area, though rates may be slightly lower for USDA loans which are popular in this rural community. It's best to compare offers from local lenders like Fidelity Bank & Trust and Citizens State Bank for the most competitive Edgewood-specific rates.
Are there any special mortgage programs for first-time homebuyers in Edgewood?
Yes, Edgewood homebuyers can access Iowa Finance Authority programs like the FirstHome program offering below-market interest rates and down payment assistance. Additionally, the USDA Rural Development loan is particularly valuable in Edgewood since the entire area qualifies for this zero-down-payment program. Local lenders often combine these with closing cost assistance specific to Delaware County home purchases.
How does Edgewood's rural location affect mortgage lending options?
Edgewood's designation as a rural community opens up valuable USDA loan opportunities that aren't available in urban areas. Many lenders specialize in these rural housing loans, which require no down payment and have flexible credit requirements. However, you may find fewer large national lenders operating locally, making community banks and credit unions particularly important for mortgage services in the Edgewood area.
What should I know about property taxes when getting a mortgage in Edgewood?
Edgewood property taxes in Delaware County are relatively moderate compared to urban Iowa areas, typically ranging from 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 differ from residential properties. First-time buyers should specifically ask lenders about the Iowa Homestead Tax Credit, which can reduce your tax burden.
Are there any local down payment assistance programs specific to Edgewood homebuyers?
While Edgewood itself doesn't offer city-specific programs, Delaware County participates in statewide assistance programs through the Iowa Finance Authority. The Down Payment Assistance program provides up to $5,000 as a second mortgage at 0% interest. Additionally, some local employers like Tyson Foods and regional healthcare facilities may offer employer-assisted housing programs for Edgewood residents.
Nearby Cities
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Why Choose a Mortgage Lender in Edgewood?
Local Market Knowledge
Lenders who understand Edgewood'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 Edgewood and get competitive rates on your home loan.