The Best Mortgage Lenders in Florence, MO
Compare verified mortgage lenders serving Florence, Missouri. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Florence
Featured Mortgage Lenders
Central Bank of Boone County
Central Bank of Boone County
Central Bank of Boone County is one of the most highly-rated regional mortgage lenders serving central Missouri, including the Florence area. As a community-focused bank with deep roots in the region, they offer personalized service and competitive rates. Their mortgage team has extensive experience with various loan programs and is known for providing exceptional customer service throughout the home buying process. With multiple locations throughout central Missouri and a strong reputation for reliability, they are a top choice for Florence area homebuyers seeking local expertise with the stability of an established financial institution.
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Missouri Credit Union
Missouri Credit Union
Missouri Credit Union has built an outstanding reputation for mortgage lending throughout central Missouri, serving members in Florence and surrounding communities. As a member-owned financial cooperative, they consistently offer competitive rates and lower fees than many traditional banks. Their mortgage specialists provide personalized guidance through every step of the process, with particular expertise in first-time homebuyer programs and government-backed loans. With a strong focus on member satisfaction and community involvement, Missouri Credit Union has earned numerous local awards for their mortgage services and customer care.
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USA Mortgage
USA Mortgage - DAS Acquisition Company, LLC
USA Mortgage has established itself as one of Missouri's premier mortgage lenders with a strong presence in central Missouri serving the Florence area. They consistently receive exceptional ratings for their extensive loan options, competitive rates, and outstanding customer service. Their team of experienced loan officers specializes in finding the right mortgage solution for each borrower's unique situation, with particular expertise in first-time homebuyer programs and specialized financing. With hundreds of positive reviews highlighting their responsive communication and smooth closing processes, USA Mortgage is a top choice for Florence area residents seeking reliable mortgage services from an established, highly-rated company.
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Frequently Asked Questions
Common questions about mortgage lending in Florence, MO
What are the current average mortgage rates for homebuyers in Florence, MO?
Mortgage rates in Florence typically align with national averages but can be slightly lower due to the rural nature of the area. As of late 2024, you might expect rates around 6.5-7% for a 30-year fixed mortgage, though this varies by lender and borrower qualifications. Local credit unions like Central Bank of the Ozarks often offer competitive rates worth exploring.
Are there any first-time homebuyer programs specific to Florence, MO?
Yes, the Missouri Housing Development Commission (MHDC) offers first-time homebuyer programs accessible to Florence residents, including down payment assistance and competitive interest rates. Additionally, some local lenders may have special programs for buyers in Christian County. These programs can be particularly valuable given Florence's affordable housing market compared to larger Missouri cities.
How does Florence's rural location affect the mortgage process?
Florence's rural classification can impact appraisals, as comparable properties might be limited compared to urban areas. Some lenders may require additional documentation about property characteristics. However, USDA loans are particularly advantageous here since most of Florence qualifies for USDA rural housing programs, which offer 100% financing with no down payment.
What should I know about property taxes when getting a mortgage in Florence?
Christian County property taxes are relatively low compared to national averages, currently around 0.87% of assessed value. Your mortgage lender will typically escrow these payments, and you should budget for annual taxes of approximately $1,300-$1,800 on a $150,000 home. The stable tax environment makes mortgage planning more predictable for Florence homebuyers.
Are there any local considerations for jumbo loans in Florence's housing market?
Given Florence's modest home prices (typically under $300,000), jumbo loans are rarely needed as most properties fall well below conventional loan limits. For 2024, the conventional loan limit in Christian County is $766,550, which comfortably covers nearly all Florence properties. This means most buyers can access standard conventional financing with potentially better terms than jumbo loans.
Why Choose a Mortgage Lender in Florence?
Local Market Knowledge
Lenders who understand Florence'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 Florence and get competitive rates on your home loan.