The Best Mortgage Lenders in Fort Scott, KS
Compare verified mortgage lenders serving Fort Scott, Kansas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Fort Scott
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a top-rated lender known for its exceptional customer service, competitive rates, and extensive loan options. With over 27 years in business, they have a strong regional presence in Kansas, including service to Fort Scott. They are highly regarded for their personalized approach, fast processing times, and high customer satisfaction ratings, making them a reliable choice for homebuyers in the area.
Loan Types:
New American Funding
New American Funding
New American Funding is a highly reputable mortgage lender with a focus on diversity and community service. They offer a wide range of loan products and are known for their competitive rates and flexible underwriting. Serving Fort Scott and surrounding areas, they have built a strong track record of customer satisfaction, with an emphasis on educating borrowers and providing tailored solutions for various financial situations.
Loan Types:
Movement Mortgage
Movement Mortgage
Movement Mortgage is a nationally recognized lender with a strong local presence in Kansas, offering efficient and transparent mortgage processes. They are praised for their quick closing times, competitive rates, and commitment to community engagement. Serving Fort Scott and the broader region, they provide personalized service and a variety of loan options, backed by a solid reputation for reliability and customer care.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Fort Scott, KS
What are the current average mortgage rates for homebuyers in Fort Scott, KS?
Mortgage rates in Fort Scott typically align with national averages but can be slightly lower due to the area's lower cost of living and competitive local lenders. As of late 2024, 30-year fixed rates in Fort Scott generally range from 6.5% to 7.25%, though rates vary by lender, credit score, and loan type. It's best to compare offers from local banks and credit unions like Landmark National Bank or Community State Bank for the most competitive rates.
Are there any first-time homebuyer programs specifically available in Fort Scott?
Yes, Fort Scott homebuyers can access Kansas Housing Resources Corporation's first-time homebuyer programs, which offer down payment assistance and competitive interest rates. Additionally, the USDA Rural Development loan program is particularly relevant for Fort Scott homebuyers since Bourbon County qualifies for 100% financing with no down payment required. Local lenders can help you determine which program best fits your situation.
How does Fort Scott's historic district affect mortgage lending and home buying?
Purchasing in Fort Scott's Historic District may require special considerations, as some properties have preservation easements or require specific maintenance. While this doesn't typically affect mortgage approval, some lenders might require additional inspections for historic properties. Many local lenders are familiar with these unique requirements and can guide you through the process smoothly.
What are the typical down payment requirements for homes in Fort Scott's price range?
Given Fort Scott's median home price of approximately $120,000-$150,000, down payments can be quite manageable. Conventional loans typically require 3-5% down ($3,600-$7,500 on a $120,000 home), while FHA loans require 3.5% down. With USDA loans available throughout Bourbon County, many buyers can purchase with zero down payment, making homeownership particularly accessible in this market.
Are property taxes in Fort Scott typically included in mortgage escrow accounts?
Yes, most lenders in Fort Scott will include property taxes in your monthly mortgage payment through an escrow account. Bourbon County property taxes average about 1.4% of home value annually, which translates to approximately $1,680 per year on a $120,000 home. Your lender will collect 1/12 of this amount each month along with your principal and interest payment, then pay the taxes directly to the county treasurer.
Why Choose a Mortgage Lender in Fort Scott?
Local Market Knowledge
Lenders who understand Fort Scott'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 Fort Scott and get competitive rates on your home loan.