The Best Mortgage Lenders in Kelley, IA
Compare verified mortgage lenders serving Kelley, Iowa. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Kelley
Featured Mortgage Lenders
Mortgage Department
Veridian Credit Union
Veridian Credit Union stands out as one of Iowa's most trusted mortgage lenders with an exceptional reputation across central Iowa. Serving the Kelley area through their extensive branch network and digital services, they offer highly competitive rates and personalized service. Their long history in Iowa communities, combined with their comprehensive mortgage programs including specialized rural and agricultural property loans, makes them a top choice. Members consistently praise their responsive loan officers, streamlined application process, and commitment to finding the right mortgage solution for each borrower's unique situation.
Loan Types:
Mortgage Services
Ames Community Bank
As a locally-owned community bank with deep roots in Story County, Ames Community Bank has been serving the Kelley area for generations. Their mortgage team provides exceptional personalized service with local decision-making authority, allowing for flexible underwriting and quick turnaround times. Specializing in both rural and residential properties, they understand the unique needs of central Iowa homeowners. Customers consistently highlight their knowledgeable loan officers, competitive rates, and the bank's commitment to building long-term relationships rather than just processing transactions.
Loan Types:
Mortgage Lending Division
Peoples Bank
Peoples Bank has established itself as a premier mortgage lender throughout central Iowa with a strong presence in Story County and surrounding areas. Their experienced mortgage team offers comprehensive lending solutions with particular expertise in rural properties and agricultural lending, making them an excellent fit for the Kelley community. The bank is renowned for its local decision-making process, competitive rates, and commitment to customer education throughout the homebuying journey. Numerous customer reviews praise their transparent communication, reliability, and ability to handle complex rural property transactions effectively.
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Frequently Asked Questions
Common questions about mortgage lending in Kelley, IA
What are the current mortgage rates like for homes in Kelley, IA?
Mortgage rates in Kelley typically align with national averages but can be slightly lower due to the area's stable, rural housing market. As of late 2023, 30-year fixed rates in the area often range from 6.5% to 7%, but it's best to check with local lenders like those in nearby Ames or Ankeny for the most current offers. Your specific rate will depend on your credit score, loan type, and down payment.
Are there any first-time homebuyer programs specific to Kelley or Story County?
Yes, the Iowa Finance Authority offers statewide programs like the FirstHome and FirstHome Plus programs, which provide affordable fixed-rate mortgages and down payment assistance. These are available to Kelley residents and can be particularly helpful given the town's proximity to employment centers in Ames. Additionally, some local lenders may offer special grants or credits for buyers in Story County.
How does Kelley's rural location affect the mortgage process?
Kelley's rural setting means some lenders may consider it a "small town" market, which can occasionally impact appraisals due to fewer comparable sales. USDA loans are a popular option here, as much of the area qualifies for USDA rural housing loans that require no down payment. It's wise to work with a lender experienced in rural Iowa properties to navigate any unique appraisal or financing considerations.
What types of properties in Kelley might qualify for USDA loans?
Most properties in Kelley and the surrounding unincorporated areas of Story County are eligible for USDA loans, which are designed for rural communities. This includes single-family homes, townhomes, and approved condos, provided they meet USDA property standards. Since Kelley has a population under 1,000, nearly the entire area qualifies, making this a zero-down-payment option for many moderate-income buyers.
How do property taxes in Kelley impact mortgage affordability?
Story County property taxes, including those in Kelley, are relatively moderate compared to urban areas in Iowa, currently averaging about 1.3% to 1.5% of assessed value. This means for a $250,000 home, you might budget $3,250-$3,750 annually for taxes. Lenders will include this in your monthly payment calculation via an escrow account, so it's important to factor this into your overall housing budget.
Why Choose a Mortgage Lender in Kelley?
Local Market Knowledge
Lenders who understand Kelley'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 Kelley and get competitive rates on your home loan.