The Best Mortgage Lenders in Gilman, IA
Compare verified mortgage lenders serving Gilman, Iowa. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Gilman
Featured Mortgage Lenders
Matt Kliegl
Iowa State Bank - Gilman
As the primary local bank serving Gilman directly, Iowa State Bank offers personalized mortgage services with deep community roots. With over 120 years of operation, they provide local decision-making and understand the unique needs of rural Iowa homeowners. Their loan officers have extensive experience with agricultural properties and rural housing, offering competitive rates and flexible terms tailored to the local market. The bank maintains strong relationships with customers and offers both traditional and government-backed loan programs.
Loan Types:
Scott Anderson
First Federal Savings Bank - Marshalltown
First Federal Savings Bank serves central Iowa including Gilman with a strong reputation for mortgage lending. Founded in 1934, they bring decades of experience serving rural communities with competitive rates and personalized service. They specialize in both purchase and refinance loans with local underwriting decisions, making them particularly effective for rural properties and agricultural areas. Their mortgage team has extensive knowledge of USDA rural development loans, which are highly relevant for Gilman area homebuyers.
Loan Types:
Mike Earll
Grinnell State Bank - Grinnell
Grinnell State Bank has been serving central Iowa communities for over a century, including the Gilman area. They offer comprehensive mortgage services with particular expertise in rural property financing and agricultural lending. Their local loan officers understand the specific needs of smaller communities and provide personalized service with competitive rates. The bank is known for its stability and community commitment, offering various loan programs including specialized options for rural homebuyers and construction loans for custom homes in the area.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Gilman, IA
What are the current average mortgage rates for homebuyers in Gilman, Iowa?
Mortgage rates in Gilman typically align with national averages but can vary slightly based on local lender competition. As of recent data, 30-year fixed rates in Iowa generally range from 6.5% to 7.2%, though local credit unions like First Federal Savings Bank of Iowa may offer competitive rates. It's best to compare offers from both local and national lenders serving the Marshall County area.
Are there any first-time homebuyer programs specifically available in Gilman?
Yes, Gilman residents can access Iowa Finance Authority programs like the FirstHome program, which offers competitive interest rates and down payment assistance. Additionally, the Homes for Iowans program provides mortgage credit certificates that can reduce federal tax liability. Local lenders familiar with these programs can help you determine eligibility based on Gilman's specific income limits and property requirements.
How does Gilman's rural location affect mortgage lending options?
Gilman's rural designation makes USDA loans an attractive option, offering 100% financing with no down payment required for eligible borrowers. Some lenders may have specific rural property requirements, so it's important to work with mortgage providers experienced with Marshall County's agricultural and rural residential properties. Properties with acreage may require additional appraisal considerations.
What should I know about property taxes when getting a mortgage in Gilman?
Marshall County property taxes in Gilman average approximately 1.4% of assessed value, which is typical for rural Iowa communities. Your mortgage lender will factor these taxes into your monthly escrow payments. It's worth noting that Iowa offers a homestead tax credit that can reduce property tax burdens for primary residents, which your lender can help you factor into your overall housing budget.
Are there local lenders in Gilman who understand the specific market conditions?
While Gilman itself has limited banking options, nearby communities like Marshalltown and Tama offer several local lenders familiar with Gilman's housing market. Institutions like Central Bank and Peoples Savings Bank have extensive experience with Marshall County properties and understand local valuation trends, which can be particularly valuable given Gilman's mix of older homes and newer construction.
Why Choose a Mortgage Lender in Gilman?
Local Market Knowledge
Lenders who understand Gilman'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 Gilman and get competitive rates on your home loan.