The Best Mortgage Lenders in Drury, MO
Compare verified mortgage lenders serving Drury, Missouri. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Drury
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a top-rated lender known for its competitive rates, exceptional customer service, and extensive loan options. With over 28 years in business, they have a strong local presence in Missouri, including service to Drury, and are praised for their personalized approach, fast closings, and high customer satisfaction. Their team specializes in first-time homebuyer programs and offers digital tools for a seamless mortgage process.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is highly regarded for its community-focused lending and efficient processing, serving Drury and surrounding areas with a commitment to local engagement. Founded in 2008, they offer competitive rates, a wide range of loan products, and a streamlined online application system. Customers consistently highlight their responsiveness, transparency, and support for various homebuyer needs, making them a reliable choice in the region.
Loan Types:
New American Funding
New American Funding
New American Funding is a reputable lender with over two decades of experience, offering tailored mortgage solutions and competitive rates for Drury residents. They are known for their diversity in loan programs, including options for self-employed borrowers and first-time homebuyers, and have a strong track record of customer satisfaction. Their local Springfield office provides personalized service, and they emphasize education and support throughout the home financing process.
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Frequently Asked Questions
Common questions about mortgage lending in Drury, MO
What are the current average mortgage rates for homebuyers in Drury, MO?
Mortgage rates in Drury typically align with national averages but can vary based on local lenders. Currently, 30-year fixed rates range between 6.5-7% in the Ozarks region. It's best to compare rates from local credit unions like Arvest or Great Southern, which often offer competitive terms for rural properties common in Drury.
Are there any special mortgage programs for buying rural property in Drury?
Yes, Drury's rural location makes USDA loans an excellent option since 100% financing is available for eligible properties. Additionally, Missouri's FIRST Place program offers down payment assistance for first-time buyers. Many properties in Drury qualify for these programs due to the area's rural designation.
How does Drury's limited housing inventory affect mortgage approval?
With fewer than 50 homes typically available in Drury, appraisals can be challenging due to limited comparable sales. Lenders may require additional documentation and might be more cautious with loan-to-value ratios. Working with a local lender familiar with Ozark County's unique market can help navigate these challenges.
What should I know about property taxes when getting a mortgage in Drury?
Ozark County property taxes are relatively low compared to urban areas, currently around 0.85% of assessed value. However, lenders will still include these in your monthly payment calculations through escrow. The rural nature of Drury means taxes may increase if you add improvements like outbuildings or land clearing.
Are there local first-time homebuyer programs specific to Drury residents?
While Drury itself doesn't offer local programs, Missouri Housing Development Commission (MHDC) programs are accessible to Drury buyers. These include down payment assistance and favorable loan terms. Additionally, Ozark County occasionally offers rehabilitation loans for older properties common in the area.
Why Choose a Mortgage Lender in Drury?
Local Market Knowledge
Lenders who understand Drury'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 Drury and get competitive rates on your home loan.