Iowa Home Loans

Iowa Home Loans, Iowa Mortgage Lender

Financing Your Iowa Home

If you’re planning to purchase or refinance a home in Iowa, it’s nice to know you have choices. Still, it can be confusing to find the loan that fits you best, so eLEND is here to help you every step of the way, from pre-approval to closing day.

Find the Home Loan that Best Suits Your Needs

If you want the security of knowing your interest rate will always stay the same, our conventional Fixed Rate Mortgages in 30, 20, 15 or 10 year terms could be the simplest way to get you into your Des Moines duplex or Sioux City split-level.

If you’re ready to buy now but you’re just starting out, discover the advantages of an Adjustable Rate Mortgage that allows you cost savings for the first few years you own your new home.

eLEND also offers a variety of government-backed mortgage products including Iowa FHA loans, USDA mortgages, and VA loans which require less money down than most conventional financing solutions.

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Additional Financing Options

Explore TheseHome Financing Options:

  • Purchase Loans – Finance your home with as little as 3.5% down. FHA guidelines also allow for the down payment to come from gift funds and for seller-paid closing costs up to 6%.
  • Iowa Mobile Home Loans – eLEND offers financing on Iowa mobile homes through the government-insured Federal Housing Administration. Mobile homes provide an affordable way to own your own home and are safer and more modern than ever before.
  • Iowa USDA Home Loans – Much of Iowa is considered rural, which makes home buyers in many areas eligible for help through the Department of Agriculture’s Rural Housing program. USDA Loans are ideal for first-time homebuyers and those with limited income.
  • Low Credit Loans – eLEND is proud to offer individuals with less-than-ideal credit affordable financing options through the Federal Housing Administration. Even if you’ve had financial challenges, you may be able to purchase a home in Iowa with a better interest rate than you thought was possible.

Each of these programs is backed by an agency of the US government, meaning they insure the lender against losses should the home go into default or foreclosure. This allows lenders to offer more favorable terms to borrowers and creates many home ownership opportunities.

Iowa Mobile Home Loans

Are you looking for financing for an Iowa mobile home? Whether you are seeking to purchase a new property or refinance your existing home, eLEND is proud to do business in the Hawkeye State. Our mobile home financing specialists have extensive experience lending in this area, and love working with homeowners to help them achieve their goals.

Affordable Mobile Home Financing

One of the first concerns that most potential home buyers have is that the cost of financing a mobile home will be high. Similarly many current homeowners are struggling to make their monthly mortgage payments and are seeking a way to bring those expenses down. Our Iowa mobile home loan programs are FHA loans backed by the Federal Housing Administration. This allows us to offer excellent, cost effective terms for these loans, including:

  • Low mortgage rates. The interest rates for these loans are generally very competitive when compared to similar programs available in the marketplace.
  • Low down payment requirement. Buy a home with just a small down payment. This program even permits the down payment to come from a gift from a family member, or from a down payment assistance programs for borrowers to whom they are available. If you are looking to refinance you don’t have to worry about having a large amount of equity in the property.
  • Ease of qualification. These loans are available even to those with less than perfect credit. Worried you won’t qualify for financing? Give us a call to talk through your scenario. What you hear might just surprise you!

Which Properties Qualify?

eLEND’s mobile home financing program can be used to purchase or refinance a singlewide or doublewide home on owned land. There are several requirements that must be met in order to qualify for an FHA mobile home loan from eLEND including (but not limited to):

  • The home must be a minimum of 400 square feet.
  • The home must have been built after June 15, 1976, and in conformance with the Federal Manufactured Home Construction and Safety Standards. (There will be a certification label indicating this).
  • The loan must be cover the manufactured home as well as the property it sits on.
  • The home must be on a permanent foundation and cannot be located in a mobile home park.

Iowa FHA Loans

If you’re considering buying your first home in the Hawkeye state or you’re ready to refinance the one you already own, eLEND has affordable FHA options that may be a good fit for you.

Advantages of an FHA Loan

Mortgages insured through the Federal Housing Administration have less strict qualifying standards than many other kinds of loans. eLEND is a leader in FHA loans, and we offer a wide variety of programs designed to meet your needs, whether you’re looking for a starter home or a fixer-upper.

  • If you’re a first-time home buyer, a loan insured by the FHA can let you borrow with low down payments (as low as 3.5%) and competitive closing costs.
  • If a manufactured home fits your budget better, eLEND can help you with an attractive rate on an FHA mobile home loan, provided the property meets certain guidelines.
  • If you’re looking to invest in a multi-unit property, and will make one them your primary residence, an FHA mortgage may be ideal for you.
  • If you already have an FHA Loan on an Iowa property, we can help you streamline the refinancing process with less paperwork and fewer expenses.

Eligibilty

Several factors will be considered to determine if you’re eligible for an FHA loan, including:

    • Your income
    • Your credit history
    • Existing debt

Iowa USDA Home Loans

No matter where you’d like to buy a home in Iowa, it may be worth looking into a mortgage backed by the United States Department of Agriculture. The USDA Rural Housing Loan program was developed to help middle and lower income individuals buy property in rural areas of the Country. Despite the name of the program, some of the fashionable suburbs of cities like Davenport and Cedar Rapids meet USDA geographic eligibility criteria. You can learn more about Iowa USDA mortgage financing by calling eLEND at (800) 634-8616.

Benefits of a USDA Rural Housing Loan

There are many advantages to a USDA housing loan, but not everyone can qualify. If you do meet all the eligibility guidelines, this can be an incredible opportunity to save money when buying a home in Iowa. Here are some of the perks:

  • No down payment.
  • A seller can contribute to closing costs.
  • Mortgage rates are often comparable to conventional fixed-rate loans (ask an eLEND mortgage professional for current pricing for conventional, FHA, and USDA loans so that you can further weigh the pros and cons of USDA financing).

USDA Loans for Your Iowa Property

There are many advantages to a USDA housing loan, but not everyone can qualify. If you do meet all the eligibility guidelines, this can be an incredible opportunity to save money when buying a home in Iowa. Here are some of the perks:

  • No down payment.
  • A seller can contribute to closing costs.
  • Mortgage rates are often comparable to conventional fixed-rate loans (ask an eLEND mortgage professional for current pricing for conventional, FHA, and USDA loans so that you can further weigh the pros and cons of USDA financing).

Eligibility Details

There are a number of qualification guidelines that come with a USDA loan through eLEND. Your income must be enough that you can afford the home you wish to buy, yet still fall under specified limits. Additionally, farms that are not intended to be used as a primary residence cannot qualify under the program we offer. An eLEND professional will talk you through all the eligibility rules. You can also visit the USDA’s website for resources help you find out if your Iowa region and your income meet the government guidelines.

Refinancing

Refinance Your Iowa Mortgage

Ready to refinance your Iowa home? Reach out to us at (800) 634-8616, and let an eLEND professional tell you of the many options we offer. Or, get started right away by filling out our no-obligation online quote form on this page.

Contact Us

eLEND has helped many people finance their Iowa home and we are fully prepared to handle your questions, address any of your concerns and help you build your future as a homeowner. Call us at (800) 634-8616 to get started, or get a fast, personalized rate quote today!

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