The Best Mortgage Lenders in Rome, IA
Compare verified mortgage lenders serving Rome, Iowa. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Rome
Featured Mortgage Lenders
Mortgage Department
Great Western Bank
Great Western Bank is a highly-rated regional financial institution with a strong presence in southeast Iowa, serving Rome and surrounding Henry County areas. They offer personalized mortgage services with local decision-making and have built an excellent reputation for competitive rates and exceptional customer service. Their mortgage team has extensive experience with rural properties and agricultural lending, making them particularly well-suited for Rome residents. They provide comprehensive guidance through the entire mortgage process with a focus on building long-term relationships.
Loan Types:
Mortgage Services
Hills Bank and Trust Company
Hills Bank and Trust Company has been serving southeast Iowa communities for over a century and maintains a strong presence in Henry County, including Rome. They are consistently rated among the top mortgage lenders in the region for their competitive rates, local underwriting, and exceptional customer satisfaction. Their mortgage specialists provide personalized service with deep knowledge of the local real estate market. The bank is particularly noted for its first-time homebuyer programs and flexible lending options tailored to rural communities.
Loan Types:
Mortgage Division
First National Bank of Fairfield
First National Bank of Fairfield is a trusted community bank serving Jefferson County and surrounding areas including Rome. With deep roots in southeast Iowa, they offer comprehensive mortgage services with local processing and decision-making. They are particularly strong in rural property financing and agricultural lending, making them an excellent choice for Rome residents. The bank has earned high marks for their responsive service, competitive rates, and commitment to the communities they serve. Their experienced mortgage team provides personalized guidance throughout the homebuying process.
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Frequently Asked Questions
Common questions about mortgage lending in Rome, IA
What are typical mortgage rates for homebuyers in Rome, Iowa?
Mortgage rates in Rome, Iowa, are generally aligned with national averages, but local lenders may offer competitive rates due to the rural nature of the area. As of recent trends, 30-year fixed rates typically range from 6.5% to 7.5%, but it's wise to compare offers from local credit unions and regional banks. Your specific rate will depend on credit score, loan type, and down payment.
Are there any first-time homebuyer programs specific to Rome, Iowa?
Yes, first-time homebuyers in Rome can explore the Iowa Finance Authority's FirstHome program, which offers competitive interest rates and down payment assistance. Additionally, local lenders may have special programs for buyers in rural areas like Rome. These programs can help with lower down payments and closing cost assistance, making homeownership more accessible.
How does Rome's rural location affect the mortgage process?
Rome's rural setting may impact appraisals, as comparable home sales can be limited, potentially requiring appraisers to look at properties in nearby towns like Mount Pleasant or New London. Some lenders might have specific requirements for rural properties, such as well and septic inspections. It's advisable to work with a lender experienced in rural Iowa mortgages to navigate these nuances.
What types of properties in Rome, Iowa, might qualify for USDA loans?
Most properties in Rome, Iowa, are eligible for USDA loans due to the area's rural designation, which allows for 100% financing with no down payment. This includes single-family homes, condos, and some manufactured homes that meet USDA standards. Buyers must meet income eligibility limits, which are generous for the Rome area, making it an attractive option for qualified borrowers.
Are property taxes in Rome, Iowa, a significant factor in mortgage affordability?
Property taxes in Rome, Iowa, are relatively moderate compared to urban areas, with rates in Henry County typically around 1.5% to 2% of assessed value. This can make monthly mortgage payments more affordable, but it's important to factor these taxes into your overall budget. Your lender will include property taxes in your escrow account to ensure they are paid annually.
Why Choose a Mortgage Lender in Rome?
Local Market Knowledge
Lenders who understand Rome'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 Rome and get competitive rates on your home loan.