The Best Mortgage Lenders in Fairfax, IA
Compare verified mortgage lenders serving Fairfax, Iowa. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Fairfax
Featured Mortgage Lenders
Hills Bank Mortgage Team
Hills Bank and Trust Company
Hills Bank is one of eastern Iowa's most trusted financial institutions with deep roots in the region. While based in Cedar Rapids, they serve Fairfax and surrounding communities with exceptional mortgage services. Their experienced mortgage team provides personalized service with competitive rates on all loan types. With over 90 years in business and consistently high customer satisfaction ratings, they offer both local decision-making and comprehensive digital mortgage tools. Their strong community presence and extensive experience with Iowa real estate make them a top choice for Fairfax homebuyers.
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Guild Mortgage - Cedar Rapids
Guild Mortgage Company
Guild Mortgage has built an excellent reputation in eastern Iowa with their Cedar Rapids branch serving Fairfax and surrounding areas. They're known for their wide range of loan programs and exceptional customer service. As a mortgage-focused company, they offer specialized expertise that larger banks sometimes lack. Their local loan officers understand the Fairfax market and provide personalized guidance through the entire mortgage process. With competitive rates and multiple loan options including specialized programs for first-time homebuyers, they consistently receive high marks for their responsive service and smooth closing process.
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Fairway Independent Mortgage - Cedar Rapids
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage has established itself as one of the top mortgage lenders in eastern Iowa, serving Fairfax with exceptional dedication. Their Cedar Rapids team receives outstanding reviews for their expertise, communication, and ability to close loans efficiently. They offer competitive rates across all loan types and are particularly noted for their strong VA loan program, which is valuable in the Iowa market. With advanced technology for easy application and tracking, combined with local expertise, they provide a seamless mortgage experience. Their consistent high ratings and numerous industry awards demonstrate their commitment to customer satisfaction.
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Frequently Asked Questions
Common questions about mortgage lending in Fairfax, IA
What are the current mortgage rates like for homebuyers in Fairfax, IA?
Mortgage rates in Fairfax typically align with national averages but can be influenced by local lender competition. Currently, rates for 30-year fixed mortgages in the area range from 6.5% to 7%, though local credit unions like Collins Community Credit Union may offer competitive rates. It's best to compare offers from both local and national lenders to secure the best rate for your Fairfax home purchase.
Are there any first-time homebuyer programs specifically available in Fairfax?
Yes, Fairfax homebuyers can access Iowa Finance Authority programs like the FirstHome program, which offers competitive interest rates and down payment assistance. Additionally, the City of Fairfax may have local incentives for first-time buyers, though you should check with the city clerk's office for current availability. Many local lenders are well-versed in these state programs and can guide you through the application process.
How does Fairfax's rural location affect mortgage lending options?
Fairfax's designation as a rural area makes USDA loans an attractive option for eligible buyers, offering 100% financing with no down payment required. Some lenders may have specific rural lending programs with flexible credit requirements tailored to the local market. However, you'll find fewer brick-and-mortar lender options compared to larger cities, making online lenders a practical alternative to consider.
What should I know about property taxes when getting a mortgage in Fairfax?
Linn County property taxes in Fairfax are relatively moderate compared to larger Iowa cities, currently averaging around 1.4% of assessed value. Your mortgage lender will factor these taxes into your monthly payment through an escrow account. It's important to review recent tax assessments on any property you're considering, as tax rates can vary slightly within different parts of Fairfax.
Are there any local down payment assistance programs for Fairfax homebuyers?
While Fairfax itself doesn't offer city-specific down payment programs, the Iowa Finance Authority's Homes for Iowans program provides up to $2,500 in down payment assistance for qualified buyers. Some employers in the Cedar Rapids metro area, including those commuting from Fairfax, may offer employer-assisted housing programs. Local lenders can help you identify all available assistance options for your specific situation.
Why Choose a Mortgage Lender in Fairfax?
Local Market Knowledge
Lenders who understand Fairfax'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 Fairfax and get competitive rates on your home loan.