The Best Mortgage Lenders in Slater, IA
Compare verified mortgage lenders serving Slater, Iowa. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Slater
Featured Mortgage Lenders
Tom Kessler
Kessler Mortgage
Kessler Mortgage is one of central Iowa's most highly-rated independent mortgage companies, serving the entire Des Moines metro area including Slater. Founded by Tom Kessler in 1999, this family-owned business has built an exceptional reputation for personalized service and competitive rates. They specialize in first-time homebuyer programs and offer extensive experience with USDA rural development loans, making them particularly well-suited for Slater residents. Their 4.9-star rating across multiple review platforms reflects consistent customer satisfaction and their commitment to guiding clients through the entire mortgage process with transparency and expertise.
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Mike C. Tousley
Tousley Home Loans
Tousley Home Loans has been serving central Iowa communities including Slater for nearly two decades, earning numerous awards and exceptional customer reviews. Mike Tousley and his team are known for their extensive knowledge of rural lending programs and construction loans, which is particularly valuable for the Slater market. They offer competitive rates and have strong relationships with local real estate professionals throughout Story County and the greater Des Moines area. Their personalized approach and commitment to customer education have resulted in a loyal client base and consistent 5-star reviews from homebuyers.
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Member Services
Greater Iowa Credit Union
Greater Iowa Credit Union has been serving central Iowa communities for over eight decades and is one of the most trusted mortgage lenders in the region. As a member-owned financial cooperative, they offer highly competitive rates and fees to Slater residents who qualify for membership. They have particular expertise in serving rural communities and offer specialized guidance on USDA and rural housing loans. With multiple branches throughout the area and a strong digital lending platform, they provide both convenience and personalized service. Their long-standing presence in Iowa and community-focused approach make them an excellent choice for Slater homebuyers seeking reliable mortgage services.
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Frequently Asked Questions
Common questions about mortgage lending in Slater, IA
What are the current mortgage rates like for homes in Slater, Iowa?
Mortgage rates in Slater typically align with national averages but can vary based on local lender competition. Currently, 30-year fixed rates in the area range from 6.5% to 7.2%, though rural properties might see slightly higher rates. It's best to compare offers from local credit unions like First National Bank in Story City alongside regional lenders.
Are there any first-time homebuyer programs specific to Slater residents?
While Slater itself doesn't offer local programs, Iowa Finance Authority programs like FirstHome and FirstHome Plus are widely accessible to Slater buyers. These programs provide competitive interest rates and down payment assistance up to $5,000, which can be particularly helpful given Slater's median home prices around $200,000.
How does Slater's rural location affect mortgage lending requirements?
Slater's designation as a rural area makes many properties eligible for USDA loans, which offer 100% financing with no down payment. However, properties must meet USDA eligibility criteria and appraisals may include additional well/septic inspections. Conventional loans might require larger down payments for older farm-style properties common in the area.
What special considerations should I know about when getting a mortgage for a Slater home with acreage?
Properties with significant acreage (typically over 10 acres) may require specialized rural appraisals and could be classified as "non-standard" by lenders. You might need a larger down payment (20% or more) and documentation of agricultural income if the land is farmed. Local lenders familiar with Story County rural properties often handle these best.
How long does the mortgage approval process typically take in Slater's real estate market?
The mortgage process in Slater usually takes 30-45 days, similar to surrounding areas. However, working with local lenders who understand Story County's specific title requirements and property types can streamline the process. Seasonal factors like harvest season can sometimes affect appraisal scheduling in this agricultural community.
Why Choose a Mortgage Lender in Slater?
Local Market Knowledge
Lenders who understand Slater'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 Slater and get competitive rates on your home loan.