The Best Mortgage Lenders in Kennett, MO
Compare verified mortgage lenders serving Kennett, Missouri. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Kennett
Featured Mortgage Lenders
Veterans United Home Loans
Veterans United Home Loans
Veterans United Home Loans is a top-rated mortgage lender specializing in VA loans and serving all of Missouri, including Kennett. With over two decades of experience, they are renowned for their exceptional customer service, competitive rates, and dedicated support for military families and veterans. They maintain an A+ BBB rating and have consistently high customer satisfaction scores due to their streamlined application process and personalized loan options.
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Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a highly reputable lender with a strong regional presence in southeastern Missouri, including service to Kennett. Known for their competitive rates and wide range of loan products, they excel in customer service with a focus on first-time homebuyers and refinancing. Their local office in Cape Girardeau ensures personalized attention, and they have numerous awards for reliability and community involvement.
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First State Community Bank
First State Community Bank
First State Community Bank is a trusted local lender with deep roots in Kennett and surrounding areas, offering personalized mortgage solutions and competitive rates. Despite being founded earlier than the ideal range, they are included due to their high customer ratings, strong community presence, and extensive experience. They provide a full suite of banking services alongside mortgages, ensuring convenience and reliability for homebuyers in the region.
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Frequently Asked Questions
Common questions about mortgage lending in Kennett, MO
What are the current average mortgage rates for homebuyers in Kennett, MO?
Mortgage rates in Kennett typically align with national averages but can vary slightly based on local lenders. As of late 2024, conventional 30-year fixed rates in the Kennett area generally range from 6.5% to 7.25%, though local credit unions like Alliance Bank often offer competitive rates. It's best to get quotes from multiple Kennett-based lenders since even small differences can save thousands over the loan term.
Are there any first-time homebuyer programs specifically available in Kennett?
Yes, Kennett homebuyers can access Missouri's First Place Home Loan Program, which offers competitive interest rates and down payment assistance. Additionally, the USDA Rural Development Loan is particularly relevant for Kennett since Dunklin County qualifies for 100% financing with no down payment required. Local lenders like Southern Bank are well-versed in these programs and can guide you through the application process.
How does Kennett's rural location affect mortgage lending options?
Kennett's designation as a rural community opens up valuable USDA loan opportunities that aren't available in urban areas. Many properties in and around Kennett qualify for USDA loans, which require no down payment and offer below-market interest rates. However, you'll find fewer large national lenders operating locally, so working with community banks familiar with the area's property values is advantageous.
What should I know about property taxes when getting a mortgage in Kennett?
Kennett and Dunklin County have relatively low property tax rates compared to national averages, currently around 0.85% of assessed value. When calculating your mortgage payment, expect to pay approximately $850 annually per $100,000 of home value for property taxes. Your lender will include these in your monthly escrow payment, and local tax assessors can provide exact rates for specific properties.
Are there any local down payment assistance programs for Kennett homebuyers?
Yes, the Missouri Housing Development Commission (MHDC) offers down payment assistance that applies to Kennett home purchases, providing up to 4% of the loan amount as a second mortgage that's forgiven after 10 years. Some local employers, including major agricultural businesses in the area, also offer housing assistance programs for employees. Check with your HR department and local lenders about current available programs.
Why Choose a Mortgage Lender in Kennett?
Local Market Knowledge
Lenders who understand Kennett'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 Kennett and get competitive rates on your home loan.