The Best Mortgage Lenders in Commerce, MO
Compare verified mortgage lenders serving Commerce, Missouri. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Commerce
Featured Mortgage Lenders
Chris St. John
St. John Mortgage Team
The St. John Mortgage Team is one of the highest-rated mortgage brokers serving the St. Louis metropolitan area, including Commerce, Missouri. With over 15 years of experience and hundreds of 5-star reviews, they specialize in personalized service and finding the best loan options for each client. Their team has extensive expertise with first-time homebuyer programs, VA loans, and competitive conventional financing. They are known for their responsive communication, transparent process, and ability to close loans efficiently throughout Missouri.
Loan Types:
Scott Stoecker
Paramount Bank
Paramount Bank is a well-established regional lender serving the Kansas City metropolitan area and surrounding regions including Commerce, Missouri. With strong community banking roots and excellent customer satisfaction ratings, they offer competitive rates and personalized mortgage solutions. Their experienced loan officers provide comprehensive guidance through the entire home financing process, from application to closing. Paramount Bank is particularly noted for their construction lending expertise and responsive service for both purchase and refinance transactions.
Loan Types:
Mark Kuehner
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a nationally recognized lender with strong local presence throughout Missouri, including service to Commerce. Mark Kuehner's team consistently receives outstanding reviews for their expertise, communication, and ability to handle complex loan scenarios. With nearly two decades of experience, they specialize in first-time homebuyer programs, VA loans, and competitive conventional financing. Their local processing and underwriting teams ensure smooth transactions and timely closings, backed by Fairway's extensive lending resources and technology platform.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Commerce, MO
What are the current average mortgage rates for homebuyers in Commerce, MO?
Mortgage rates in Commerce typically align with national averages but can be slightly influenced by local lender competition. As of recent data, 30-year fixed rates generally range from 6.5% to 7.2%, though these fluctuate regularly. Working with a local lender who understands the Mississippi County market can sometimes secure more competitive rates.
Are there any first-time homebuyer programs specifically available in Commerce, MO?
Yes, Commerce homebuyers can access Missouri's First Place Home Loan Program, which offers competitive interest rates and down payment assistance. Additionally, the Missouri Housing Development Commission (MHDC) provides mortgage programs with below-market rates and down payment assistance that are available statewide, including in Commerce.
How does Commerce's location along the Mississippi River affect mortgage lending requirements?
Properties in Commerce's flood-prone areas near the Mississippi River often require flood insurance, which lenders typically mandate as a loan condition. This additional insurance cost must be factored into your debt-to-income ratio calculations. Some lenders may have specific requirements for properties in designated flood zones, so it's important to discuss this early in the mortgage process.
What types of properties are most common in Commerce, and how does this affect mortgage options?
Commerce features a mix of historic homes, riverfront properties, and more traditional single-family residences. Older homes may require specialized renovation loans like the FHA 203(k), while conventional loans work well for updated properties. Rural Development loans are also popular since Commerce qualifies for USDA rural housing programs.
How does Commerce's rural character impact available mortgage programs?
Commerce's designation as a rural community makes many homes eligible for USDA loans, which offer 100% financing with no down payment requirement. This is particularly beneficial given the area's moderate home prices. Both the USDA Guaranteed Loan Program and the MHDC's rural-targeted programs provide excellent options for qualified buyers in Commerce.
Why Choose a Mortgage Lender in Commerce?
Local Market Knowledge
Lenders who understand Commerce'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 Missouri.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Commerce and get competitive rates on your home loan.