The Best Mortgage Lenders in Union, MO
Compare verified mortgage lenders serving Union, Missouri. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Union
Featured Mortgage Lenders
First State Community Bank Mortgage Team
First State Community Bank
First State Community Bank is a highly-rated local Missouri bank with deep roots in Franklin County and strong community presence. As a community bank headquartered in Missouri, they offer personalized mortgage services with local underwriting and decision-making. Their mortgage team has extensive experience with first-time homebuyer programs, rural development loans, and construction lending. Customers consistently praise their responsive service, competitive rates, and the ability to work directly with local loan officers who understand the Union area real estate market.
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Scott Credit Union Mortgage Department
Scott Credit Union
Scott Credit Union serves the broader Missouri-Illinois region including Union, MO, and has earned exceptional ratings for their mortgage services. As a not-for-profit financial cooperative, they typically offer competitive rates and lower fees than many traditional banks. Their mortgage specialists are praised for guiding members through the entire home buying process with exceptional customer service. They offer various special mortgage programs including first-time homebuyer assistance and have a strong reputation for closing loans on time with minimal complications.
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The Mortgage Firm - St. Louis
The Mortgage Firm
The Mortgage Firm has a strong presence throughout Missouri with experienced loan officers serving the Union area. They are particularly noted for their expertise in government-backed loans (FHA, VA, USDA) and work extensively with both first-time and repeat homebuyers. Their team receives consistent praise for transparent communication, efficient processing, and finding creative solutions for borrowers with unique financial situations. They maintain high customer satisfaction ratings due to their personalized approach and commitment to securing competitive rates for clients in the Union market.
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Frequently Asked Questions
Common questions about mortgage lending in Union, MO
What are the current average mortgage rates for homebuyers in Union, MO?
Mortgage rates in Union typically align with national averages but can vary based on local lenders like First State Community Bank or Central Bank. As of recent trends, 30-year fixed rates in Franklin County generally range from 6.5% to 7.25%, though your specific rate will depend on credit score, loan type, and down payment amount. It's wise to compare offers from multiple local lenders to secure the best rate.
Are there any first-time homebuyer programs specifically available in Union, MO?
Yes, Union 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 tax credits through the Mortgage Credit Certificate program, which can significantly reduce federal tax liability for first-time buyers in Franklin County.
How does Union's rural location affect mortgage lending options?
Union's location in Franklin County qualifies many properties for USDA Rural Development loans, which offer 100% financing with no down payment requirement. This can be particularly advantageous for buyers looking at properties in the more rural areas surrounding Union. However, properties must meet specific location and income requirements to qualify for these beneficial programs.
What unique closing costs should I expect when buying a home in Union?
Beyond standard closing costs, Union homebuyers should budget for Franklin County-specific fees including transfer taxes, recording fees, and potential rural water district connection fees. Title insurance rates in Missouri are regulated but can vary slightly between local providers like Franklin County Title Company. Your lender should provide a detailed Loan Estimate outlining all anticipated costs early in the process.
How competitive is the housing market in Union for mortgage approval?
Union's housing market is moderately competitive with median home prices around $250,000, making it more accessible than many St. Louis suburbs. Well-qualified buyers with pre-approval from local lenders typically have good success, though inventory can be limited in popular neighborhoods. Working with a lender familiar with Union's market dynamics can help you move quickly when you find the right property.
Why Choose a Mortgage Lender in Union?
Local Market Knowledge
Lenders who understand Union'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 Union and get competitive rates on your home loan.