The Best Mortgage Lenders in Rowan, IA
Compare verified mortgage lenders serving Rowan, Iowa. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Rowan
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender with a strong presence in Iowa, known for its exceptional customer service and competitive rates. With nearly three decades of experience, they specialize in a wide range of loan products and have consistently high customer satisfaction ratings. Their local West Des Moines branch serves Rowan and surrounding areas, offering personalized mortgage solutions and a streamlined application process. Fairway is renowned for its community involvement and reliability, making it a trusted choice for homebuyers in rural and urban Iowa alike.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a highly-rated lender with a significant footprint in Iowa, praised for its innovative digital mortgage platform and efficient service. Founded in 2008, they combine technology with personal touch, offering competitive rates and a variety of loan options. Their Urbandale office actively serves Rowan and nearby communities, with a focus on speed and transparency. Movement Mortgage has built a reputation for excellent customer support and flexibility, particularly benefiting first-time homebuyers and those in rural areas like Rowan.
Loan Types:
New American Funding
New American Funding
New American Funding is a reputable mortgage lender with over two decades of experience, offering diverse loan products and strong customer service. They have a dedicated Des Moines branch that extends services to Rowan, providing tailored solutions for various borrower needs, including specialized programs for underserved communities. Known for their competitive rates and efficient processing, New American Funding has high customer satisfaction ratings and a commitment to making homeownership accessible, making them a reliable option for Iowa residents.
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Frequently Asked Questions
Common questions about mortgage lending in Rowan, IA
What are the current average mortgage rates available in Rowan, IA?
Mortgage rates in Rowan typically align with national averages but can be slightly lower due to Iowa's competitive lending environment and lower cost of living. As of 2024, you can expect conventional 30-year fixed rates around 6.5-7% in Rowan, though rates vary by lender, credit score, and loan type. Local credit unions like First State Bank of Rowan often offer competitive rates for area residents.
Are there any first-time homebuyer programs specific to Rowan that I should know about?
Yes, Rowan homebuyers can access Iowa Finance Authority programs like the FirstHome program, which offers affordable fixed-rate mortgages and down payment assistance. Additionally, some local lenders may offer special programs for Rowan residents, particularly given the town's rural character which can qualify buyers for USDA rural development loans with no down payment requirements.
How does Rowan's rural location affect my mortgage options?
Rowan's designation as a rural community opens up USDA loan opportunities, which require no down payment and offer competitive rates. Many lenders also consider Rowan's stable, agricultural-based economy favorably when underwriting loans. However, you may find fewer local mortgage lender branches, making online and regional bank options more practical.
What should I know about property taxes when getting a mortgage in Rowan?
Rowan property taxes are relatively affordable compared to urban Iowa areas, currently averaging about 1.3-1.5% of assessed value. When calculating your mortgage payment, lenders will include these taxes in your escrow account. Worth noting that Wright County, where Rowan is located, has seen modest tax increases in recent years, so factor this into your long-term budget.
How does Rowan's housing market affect mortgage pre-approval and home values?
With Rowan's limited housing inventory and median home prices around $120,000-$150,000, getting pre-approved is crucial to compete in this tight market. Lenders will be familiar with the conservative appreciation rates typical of small Iowa towns, which affects appraisal values. Given the market dynamics, consider getting a local lender familiar with Wright County property values.
Why Choose a Mortgage Lender in Rowan?
Local Market Knowledge
Lenders who understand Rowan'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 Rowan and get competitive rates on your home loan.