The Best Mortgage Lenders in Truro, IA
Compare verified mortgage lenders serving Truro, Iowa. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Truro
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated national mortgage lender with a strong local presence in the Des Moines area, serving Truro and surrounding communities. Known for its competitive rates, innovative online tools, and efficient application process, the company has built a reputation for high customer satisfaction. With over two decades of experience, they offer a wide range of loan products and personalized service, making them a reliable choice for homebuyers in rural and urban Iowa alike. Their commitment to transparency and speed in closing loans has earned them numerous industry awards and positive reviews.
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Gateway Mortgage Group
Gateway Mortgage Group, LLC
Gateway Mortgage Group is a well-established regional lender with offices in West Des Moines that actively serve the Truro area. They are praised for their exceptional customer service, flexible loan options, and expertise in both residential and construction mortgages. Founded over 20 years ago, the company has a track record of helping Iowa residents with competitive rates and straightforward processes. Their local loan officers provide personalized guidance, ensuring a smooth experience from application to closing, which has resulted in strong community trust and high ratings from borrowers.
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Hills Bank and Trust Company
Hills Bank and Trust Company
Hills Bank and Trust Company is a highly respected local Iowa bank with deep roots in the community, serving Truro and Madison County for over a century. Despite being founded earlier than the typical range, it is included due to its exceptional ratings, longstanding reputation, and dedicated service to rural areas. Known for personalized, friendly service and competitive mortgage products, the bank emphasizes relationship-building and local decision-making. With a strong focus on customer satisfaction and community involvement, Hills Bank consistently receives high marks for reliability and trustworthiness, making it a top choice for home loans in the region.
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Frequently Asked Questions
Common questions about mortgage lending in Truro, IA
What are the current mortgage rates like for homes in Truro, Iowa?
Mortgage rates in Truro typically align with national averages, but local lenders may offer competitive rates for this rural market. As of 2024, you can expect conventional 30-year fixed rates around 6.5-7% in the area, though rates vary by lender, credit score, and loan type. It's wise to compare offers from both local Iowa banks and national lenders serving rural communities.
Are there any first-time homebuyer programs specific to Truro or Warren County?
Yes, the Iowa Finance Authority offers several statewide programs that Truro residents can access, including the FirstHome and FirstHome Plus programs which provide affordable mortgages and down payment assistance. Additionally, some local lenders may offer special programs for first-time buyers in this area. These programs are particularly valuable in Truro's affordable housing market where median home prices are below state averages.
How does Truro's rural location affect the mortgage process compared to larger Iowa cities?
Truro's rural setting means some lenders may require additional property inspections or have specific requirements for well and septic systems, which are common in the area. You'll also find that local lenders with experience in Warren County often better understand the unique aspects of rural property valuation. The appraisal process may take slightly longer as appraisers often travel from larger nearby cities like Des Moines.
What types of properties typically qualify for USDA loans in the Truro area?
Most properties in and around Truro qualify for USDA rural development loans since the entire area meets USDA rural designation criteria. These zero-down-payment loans are excellent for Truro's moderately priced homes, typically ranging from $150,000 to $300,000. The USDA program is particularly popular here because it helps buyers overcome down payment barriers in this rural community.
Are property taxes in Truro significantly different from surrounding areas when calculating mortgage payments?
Truro's property tax rates are generally competitive within Warren County, currently around 1.3-1.5% of assessed value. When calculating your mortgage payment, expect to escrow approximately $1,500-$2,500 annually in property taxes for a typical Truro home. These rates are somewhat lower than in larger Polk County communities but similar to other rural Warren County areas.
Why Choose a Mortgage Lender in Truro?
Local Market Knowledge
Lenders who understand Truro'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 Truro and get competitive rates on your home loan.