The Best Mortgage Lenders in Burlington, KS
Compare verified mortgage lenders serving Burlington, Kansas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Burlington
Featured Mortgage Lenders
Emporia State Bank Mortgage Team
Emporia State Bank
Emporia State Bank has been serving southeast Kansas communities for over a century with deep roots in the region. Their mortgage team provides personalized service with local decision-making authority, offering competitive rates and flexible terms. They're particularly strong with agricultural and rural property financing, making them an excellent choice for Burlington area residents. The bank maintains an A+ BBB rating and is known for their community involvement and long-term customer relationships.
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Lyon County State Bank Mortgage Department
Lyon County State Bank
As one of the oldest financial institutions in the region, Lyon County State Bank has extensive experience serving Coffey County and surrounding areas including Burlington. Their mortgage specialists provide comprehensive guidance through the entire home financing process with local underwriting and quick turnaround times. They excel at first-time homebuyer programs and offer competitive construction-to-permanent loans, which is valuable in rural markets. The bank is known for their personalized approach and deep understanding of local property values.
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Capitol Federal Savings Bank
Capitol Federal Savings
Capitol Federal has been serving Kansas communities for over 125 years with a strong presence throughout eastern Kansas. While based in Topeka, they actively serve the Burlington area with competitive mortgage products and excellent customer service ratings. They're particularly known for their straightforward lending process, competitive interest rates, and extensive experience with both purchase and refinance transactions. As a mutual institution, they prioritize customer needs over shareholder profits, resulting in consistently high satisfaction ratings from Kansas homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Burlington, KS
What are the current average mortgage rates for homebuyers in Burlington, KS?
Mortgage rates in Burlington typically align with national averages but can be slightly lower due to the area's rural classification and lower cost of living. As of recent trends, 30-year fixed rates often range between 6.5% and 7%, but working with a local lender who understands Coffey County's market can help secure competitive terms. It's wise to get multiple quotes from both local banks and credit unions for the best rate.
Are there any first-time homebuyer programs specifically available in Burlington?
Yes, Burlington homebuyers can access the "First Time Home Buyer Grant" program offered by the Coffey County Housing Authority, which provides down payment assistance to qualified applicants. Additionally, the statewide Kansas Housing Resources Corporation (KHRC) offers programs like First Time Homebuyer Program with competitive interest rates and down payment assistance. These programs are particularly valuable given Burlington's affordable housing market.
How does Burlington's rural location affect mortgage lending requirements?
Burlington's rural designation makes some buyers eligible for USDA Rural Development loans, which offer 100% financing with no down payment required. Local lenders are familiar with these programs and can guide buyers through the property eligibility requirements specific to Coffey County. However, appraisals might take slightly longer than in urban areas due to fewer local appraisers.
What unique closing costs should I expect when buying a home in Burlington?
Beyond standard closing costs, Burlington homebuyers should budget for title insurance specific to Kansas requirements and potential septic system inspections, which are common with rural properties. Coffey County also has modest recording fees and transfer taxes that are typically lower than urban areas. Your local lender can provide a detailed estimate accounting for these county-specific items.
How do property values in Burlington affect loan-to-value ratios and PMI requirements?
With Burlington's median home prices around $120,000-$150,000, many buyers can avoid PMI by making a 20% down payment of $24,000-$30,000. The stable but slowly appreciating market means appraisals generally align with purchase prices, helping maintain favorable loan-to-value ratios. Local lenders understand these market dynamics and can advise on the best financing approach for Burlington's affordable housing inventory.
Why Choose a Mortgage Lender in Burlington?
Local Market Knowledge
Lenders who understand Burlington'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 Kansas.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Burlington and get competitive rates on your home loan.