The Best Mortgage Lenders in Milan, KS
Compare verified mortgage lenders serving Milan, Kansas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Milan
Featured Mortgage Lenders
Justin R. Smith
Sunflower Bank, N.A.
Sunflower Bank has been serving Kansas communities for over 130 years with a strong commitment to local homebuyers. Their Marysville branch serves the Milan area with personalized mortgage solutions and competitive rates. They offer comprehensive lending options including USDA loans ideal for rural areas like Milan, and their local loan officers provide face-to-face service with deep understanding of the local real estate market.
Loan Types:
Mortgage Department
Citizens State Bank
Citizens State Bank has been a trusted community banking institution serving northeast Kansas for over a century. They specialize in rural and agricultural lending with expertise in USDA loans perfect for the Milan area. Their local decision-making process and personalized service make them a top choice for homebuyers seeking competitive rates and flexible terms with a lender who understands the unique needs of rural Kansas communities.
Loan Types:
Mortgage Lending Team
Community National Bank
Community National Bank serves multiple communities across northeast Kansas with dedicated mortgage services. They have extensive experience with rural property financing and offer specialized USDA loan programs that benefit Milan area homebuyers. Their local loan officers provide personalized guidance through the entire mortgage process, and their strong community banking approach ensures customers receive attentive service with competitive rates and flexible terms.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Milan, KS
What are typical mortgage rates like for homebuyers in Milan, KS?
Mortgage rates in Milan are generally competitive with national averages, but local lenders may offer slightly different terms based on rural market conditions. As of 2024, 30-year fixed rates typically range from 6.5% to 7.25% for qualified buyers. It's wise to compare offers from both local Milan banks and regional lenders serving Sumner County.
Are there any special loan programs for first-time homebuyers in Milan?
Yes, Kansas offers several programs through the Kansas Housing Resources Corporation (KHRC) that Milan residents can access, including down payment assistance and favorable loan terms. Additionally, some local lenders may offer special programs for first-time buyers in rural communities like Milan. These programs can be particularly helpful given Milan's affordable housing market.
How does Milan's rural location affect the mortgage approval process?
Milan's rural classification can work to your advantage through USDA loans, which offer 100% financing with no down payment required for eligible properties and borrowers. However, appraisals might take slightly longer as appraisers may need to travel from larger nearby cities like Wellington or Wichita. Local lenders with experience in rural properties can help navigate this process smoothly.
What should I know about property taxes when getting a mortgage in Milan?
Sumner County property taxes in Milan are relatively affordable compared to urban areas, typically ranging from 1.1% to 1.4% of assessed value. Your mortgage lender will include these taxes in your monthly escrow payment calculation. It's important to factor in that property values in Milan have been stable but may appreciate slowly compared to larger markets.
Are there local Milan banks that offer better mortgage terms than national lenders?
Local institutions like South Central State Bank and other community banks in the Milan area often provide personalized service and may offer competitive terms for local residents. They typically have deeper knowledge of Milan's real estate market and may be more flexible with underwriting for unique rural properties. However, it's still recommended to compare rates with regional and online lenders to ensure you're getting the best deal.
Why Choose a Mortgage Lender in Milan?
Local Market Knowledge
Lenders who understand Milan'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 Milan and get competitive rates on your home loan.