The Best Mortgage Lenders in Rogers, NM
Compare verified mortgage lenders serving Rogers, New Mexico. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Rogers
Featured Mortgage Lenders
Mortgage Department
Western Commerce Bank
Western Commerce Bank is a highly-rated community bank with deep roots in Eastern New Mexico, serving Rogers and surrounding Roosevelt County areas for over two decades. They consistently receive excellent reviews for their personalized mortgage services, competitive local rates, and understanding of rural property financing needs. As a local bank, they offer the advantage of local underwriting and decision-making, which is particularly valuable for agricultural and rural properties common in the Rogers area. Their mortgage team has extensive experience with USDA rural development loans, which are especially relevant for Rogers homebuyers.
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Mortgage Services
ENMU Credit Union
ENMU Credit Union has been serving Eastern New Mexico communities including Rogers for decades, with a strong reputation for consumer-friendly mortgage products and exceptional member service. They receive consistently high marks for their competitive interest rates, low closing costs, and patient, educational approach with first-time homebuyers. Their mortgage specialists have particular expertise with VA loans and USDA rural housing loans, making them an excellent choice for military families and rural property buyers in the Rogers area. The credit union's local presence ensures personalized service throughout the mortgage process.
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Mortgage Lending Division
Plateau Land & Home
Plateau Land & Home, a division of Plateau Telecommunications, specializes in rural and agricultural lending throughout Eastern New Mexico, with extensive experience serving communities like Rogers. They are particularly strong in USDA direct and guaranteed loans, which are ideal for the Rogers area, and offer specialized agricultural property financing that many conventional lenders avoid. Their local underwriters understand the unique aspects of rural property valuation and have built strong relationships with real estate professionals throughout Roosevelt County. Customers consistently praise their expertise with rural development programs and their commitment to making homeownership accessible in rural communities.
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Frequently Asked Questions
Common questions about mortgage lending in Rogers, NM
What are the current mortgage rates like in Rogers, NM, and are they different from the national average?
Mortgage rates in Rogers, NM, typically align closely with national averages, but local lenders may offer slight variations. Given the rural nature of the area and the smaller pool of local lenders, it's especially important to shop around with both local credit unions and regional banks. Rates can also be influenced by property types common in the area, such as manufactured homes or properties on larger lots.
Are there any down payment assistance programs specifically for homebuyers in Rogers, NM?
Yes, homebuyers in Rogers can access statewide New Mexico programs like the NMFA Home Loan Program, which offers down payment assistance and competitive rates for low-to-moderate income buyers. Additionally, local and county housing authorities may have specific grants or soft-second loans. It's advisable to consult with a mortgage lender familiar with these state and local resources to determine your eligibility.
How does the appraisal process work for a home in a rural area like Rogers, given the unique property types?
Appraisals in Rogers can be more complex due to the scarcity of recent comparable sales ("comps") for rural properties, land, or manufactured homes. Lenders often require appraisers with specific experience in rural valuations, which can sometimes lead to longer timelines or higher appraisal costs. Being prepared with information on any land features, wells, or septic systems will help facilitate the process.
What should I know about getting a mortgage for a manufactured home in Rogers?
Financing a manufactured home in Rogers requires specific loan programs, such as FHA, VA, or USDA loans, provided the home is permanently affixed to a foundation and meets HUD code. Not all lenders offer these loans, so you'll need to find one with expertise in manufactured home financing. The age of the home and whether it is on owned or leased land are critical factors for loan approval.
Are USDA loans a common and good option for buying a home in Rogers, NM?
Absolutely. Given that Rogers is located in a rural area, many properties likely qualify for USDA Rural Development loans, which offer 100% financing (no down payment) for eligible borrowers and properties. These loans are very popular in the area due to their favorable terms, but they do have income limits and require the property to meet specific USDA eligibility standards, which a local lender can verify.
Why Choose a Mortgage Lender in Rogers?
Local Market Knowledge
Lenders who understand Rogers'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 New Mexico.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Rogers and get competitive rates on your home loan.