The Best Mortgage Lenders in Edina, MO
Compare verified mortgage lenders serving Edina, Missouri. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Edina
Featured Mortgage Lenders
New American Funding
New American Funding
New American Funding is a highly-rated mortgage lender known for its strong customer service and competitive rates, with a focus on serving diverse communities. They have a solid reputation in Missouri for offering a wide range of loan products and personalized support. Their local presence in Columbia allows them to effectively serve Edina and surrounding areas, backed by numerous positive reviews highlighting their efficiency and reliability in the home financing process.
Loan Types:
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender with a long track record of excellence in the mortgage industry. They are praised for their competitive rates, extensive loan options, and dedicated customer service. With a strong regional presence in Missouri, including offices in St. Louis, they reliably serve Edina and other rural communities, earning high marks for their transparency and support throughout the loan process.
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Movement Mortgage
Movement Mortgage
Movement Mortgage is a reputable lender known for its fast processing times and community-focused approach. They offer a variety of loan products tailored to meet the needs of homebuyers in areas like Edina, with a commitment to customer satisfaction and competitive pricing. Their regional office in Overland Park, KS, serves the broader Missouri area, and they have consistently high reviews for their responsive service and streamlined application process.
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Frequently Asked Questions
Common questions about mortgage lending in Edina, MO
What are the current average mortgage rates for homebuyers in Edina, MO?
Mortgage rates in Edina typically align with national averages but can vary based on local lender competition and property type. As of recent trends, 30-year fixed rates in Knox County generally range from 6.5% to 7.25%, though rural properties may see slightly higher rates. It's best to check with local Edina lenders like F&M Bank and Trust or regional credit unions for the most current personalized rates.
Are there any first-time homebuyer programs specifically available in Edina?
While Edina itself doesn't offer city-specific programs, Knox County homebuyers can access Missouri's First Place Home Loan Program, which provides competitive interest rates and down payment assistance. Additionally, the USDA Rural Development loan is particularly relevant for Edina homebuyers since Knox County qualifies for 100% financing on eligible rural properties, making homeownership more accessible with no down payment required.
How does Edina's rural location affect the mortgage approval process?
Edina's rural classification can impact mortgage lending through stricter appraisal requirements due to fewer comparable home sales, and some lenders may require additional property inspections. USDA loans are especially popular here since most properties in and around Edina qualify for rural housing programs. Working with lenders experienced in rural Missouri properties can streamline the process significantly.
What types of properties in Edina typically qualify for USDA rural housing loans?
Most residential properties within Edina city limits and throughout Knox County qualify for USDA loans, given the area's rural designation. This includes single-family homes, manufactured homes on permanent foundations, and some condominiums. The property must meet USDA safety and livability standards, and income limits apply based on Knox County's median income levels.
How do property taxes in Edina affect mortgage payments and affordability?
Knox County property taxes are relatively low compared to urban Missouri areas, with current rates around 0.85% to 1.1% of assessed value. For a $150,000 home in Edina, this translates to approximately $1,275-$1,650 annually, which lenders factor into your debt-to-income ratio. These affordable tax rates help improve overall mortgage qualification chances for Edina homebuyers.
Why Choose a Mortgage Lender in Edina?
Local Market Knowledge
Lenders who understand Edina'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 Edina and get competitive rates on your home loan.