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MortgageLenderNearMe
Virginia, IL

The Best Mortgage Lenders in Virginia, IL

Compare verified mortgage lenders serving Virginia, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.

3
Top Lenders
4.8
Avg Rating
530+
Reviews
8
Loan Types

Available Loan Programs in Virginia

Conventional
FHA
VA
USDA
Jumbo
Refinance
Construction
Home Equity

Featured Mortgage Lenders

1

Kevin Periman

First Trust Mortgage

★★★★☆
4.9/5

First Trust Mortgage is one of Central Illinois' most highly-rated mortgage lenders with over two decades of serving the Virginia, IL area. They maintain exceptional 4.9-star ratings across multiple review platforms with particular praise for their personalized service and competitive rates. As a local mortgage broker with deep roots in the region, they specialize in helping rural and small-town homebuyers navigate the mortgage process with expertise in USDA and VA loans that are particularly relevant to the Virginia area.

Experience:25 years
Reviews:175 customer reviews
2941 S 6th Street, Springfield, IL 62703

Loan Types:

ConventionalFHAVAUSDAJumboRefinance
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2

Mike Lonergan

INB Mortgage

★★★★☆
4.8/5

INB Mortgage, part of INB Bank, has been serving Central Illinois communities including Virginia for over 20 years with consistently high customer satisfaction ratings. Their local underwriting and decision-making process allows for faster closings and personalized service that national lenders can't match. They're particularly noted for their construction lending expertise and competitive conventional loan rates, with many customers praising their responsiveness and attention to detail throughout the mortgage process.

Experience:20 years
Reviews:210 customer reviews
201 E Washington Street, Springfield, IL 62701

Loan Types:

ConventionalFHAVAConstructionRefinanceHome Equity
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3

John Schirding

Town and Country Bank Mortgage Division

★★★★☆
4.7/5

Town and Country Bank has built a strong reputation throughout Central Illinois with their mortgage division earning consistent 4.7-star ratings for their service to communities like Virginia. They combine local decision-making with comprehensive loan options and are particularly respected for their first-time homebuyer programs and rural lending expertise. Customers frequently mention their straightforward communication and ability to close loans efficiently while providing competitive rates that stand up well against larger national lenders.

Experience:15 years
Reviews:145 customer reviews
624 E Washington Street, Springfield, IL 62701

Loan Types:

ConventionalFHAVAUSDAJumboRefinance
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Frequently Asked Questions

Common questions about mortgage lending in Virginia, IL

What are the current average mortgage rates for homebuyers in Virginia, IL?

Mortgage rates in Virginia, IL, typically align with national averages but can be influenced by local lender competition and property types common in the area, such as older homes or rural properties. As of recent trends, 30-year fixed rates often range from the mid-6% to low-7% range, but it's best to check with local lenders like First National Bank in Virginia or regional credit unions for the most accurate, personalized rates.

Are there any first-time homebuyer programs specifically available for Virginia, IL residents?

Yes, Virginia homebuyers may qualify for the Illinois Housing Development Authority's (IHDA) programs, such as the 1stHomeIllinois loan, which offers competitive interest rates and down payment assistance. Additionally, local programs through Cass County or community banks might provide grants or low-interest loans tailored to first-time buyers in this area, helping make homeownership more accessible.

How does Virginia's rural location affect the mortgage process and property appraisal?

Virginia's rural setting can mean fewer comparable home sales (comps) for appraisals, which might lead to more conservative property valuations and potential challenges in securing financing. Lenders may require additional documentation or use appraisers familiar with rural Central Illinois properties to ensure accurate assessments, so it's wise to work with a local mortgage broker experienced in this market.

What types of properties are common in Virginia, IL, and how do they impact mortgage options?

Virginia features many older, single-family homes and some agricultural or larger-lot properties, which can influence loan choices. For example, FHA or VA loans are popular for older homes that may need repairs, while USDA loans might be an option for eligible rural properties. It's important to discuss property specifics with your lender to determine the best financing route.

Are there any local down payment assistance programs for homebuyers in Virginia, IL?

While Virginia itself may not have city-specific programs, homebuyers can access down payment assistance through state-level initiatives like IHDA's Access Forgivable or Access Deferred programs, which offer up to $10,000 in assistance. Local lenders may also have partnerships or special offers, so it's beneficial to inquire with Virginia-based financial institutions about any additional support available.

Mortgage Insights

Finding Your Perfect Mortgage Match in Virginia, Illinois

Searching for the "best mortgage broker near me" in Virginia, Illinois, is more than just finding the lowest rate. It's about partnering with a local expert who understands the unique heartbeat of our small-town market and can navigate the specific opportunities available to Illinois homebuyers. In a community like ours, where word-of-mouth and trusted relationships are paramount, choosing the right broker is your first crucial step toward a successful home purchase.

The Virginia housing market presents a distinct landscape. You might be looking at a charming historic home near the town square, a property with some acreage on the outskirts, or a more modern build. A local mortgage broker with deep roots here understands the nuances of appraising these different property types and can connect you with lenders who are familiar with our area. They know which local banks or credit unions might offer special programs and can accurately assess how factors like the condition of older homes or well and septic systems might impact your loan process.

For Virginia homebuyers, your search should start locally. Ask friends, family, and your real estate agent for personal referrals—the best brokers here often build their reputation one satisfied client at a time. When you interview potential brokers, go beyond just asking about rates. Ask them specifically about their experience with transactions in Cass County and Virginia. Do they have examples of working with the types of properties you’re considering? Their local knowledge can prevent surprises during the appraisal and underwriting stages.

A significant advantage of working with an Illinois-focused broker is their expertise in state-specific homebuyer programs. A top-tier broker will guide you through the Illinois Housing Development Authority (IHDA) offerings, such as the 1stHomeIllinois and Welcome Home Illinois programs. These can provide down payment assistance, affordable fixed-rate mortgages, and grants for first-time and repeat buyers who meet income requirements. These programs can be game-changers, making homeownership more accessible right here in Virginia.

Your actionable advice is this: Prioritize local expertise over anonymous online searches. Choose a broker who asks detailed questions about your long-term goals and explains the Illinois-specific tools at your disposal. They should be a clear communicator who demystifies terms like property taxes in Cass County and how they factor into your monthly payment. The best mortgage broker for you in Virginia won’t just be a loan officer; they’ll be a knowledgeable guide, helping you unlock the door to a home in our community with confidence and the best possible financial footing.

Nearby Cities

Explore mortgage lenders in cities near Virginia, IL

Why Choose a Mortgage Lender in Virginia?

Local Market Knowledge

Lenders who understand Virginia'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 Illinois.

Ready to Find Your Perfect Mortgage Lender?

Connect with top-rated mortgage professionals in Virginia and get competitive rates on your home loan.