The Best Mortgage Lenders in Asheville, NC
Compare verified mortgage lenders serving Asheville, North Carolina. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Asheville
Featured Mortgage Lenders
Chris Herren
Movement Mortgage
Movement Mortgage has established itself as one of Asheville's top-rated mortgage lenders with exceptional customer satisfaction ratings. Chris Herren's local team specializes in the unique Asheville housing market, offering streamlined digital processes and competitive rates. Their strong emphasis on community involvement and local market expertise makes them a preferred choice for both first-time homebuyers and experienced investors in the Western North Carolina region.
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Jason Baird
Truliant Federal Credit Union
Truliant Federal Credit Union has been serving Western North Carolina communities for over 70 years with deep roots in the Asheville area. As a member-owned financial cooperative, they offer highly competitive rates and personalized service. Their mortgage team excels at guiding borrowers through the entire process with transparency and local market knowledge. Truliant is particularly noted for their first-time homebuyer programs and construction loan expertise tailored to Asheville's unique housing landscape.
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Brian K. Smith
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation's Asheville branch, led by Brian K. Smith, maintains exceptional ratings for their personalized service and competitive loan products. With nearly three decades in business, Fairway brings national lending power with local expertise. The Asheville team is renowned for their responsiveness and ability to close loans efficiently while providing educational guidance throughout the process. They have particular strength in renovation loans and jumbo financing for Asheville's diverse housing market.
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Frequently Asked Questions
Common questions about mortgage lending in Asheville, NC
What are the current mortgage rates like in Asheville, NC, and how do they compare to the national average?
Mortgage rates in Asheville are generally in line with national averages, but can be slightly influenced by local market competition and the higher-than-average home prices in the area. As of late 2023, rates in Asheville typically range from the mid-6% to low-7% for a 30-year fixed loan, but it's crucial to shop around with local lenders, credit unions, and regional banks who understand the Asheville market dynamics.
Are there any special down payment assistance or first-time homebuyer programs available specifically for Asheville residents?
Yes, the City of Asheville offers the "City of Asheville Homeownership Program," which provides down payment assistance in the form of a deferred, forgivable loan for income-eligible first-time homebuyers purchasing within city limits. Additionally, the North Carolina Housing Finance Agency's NC Home Advantage Mortgage™ program is widely used in the area, offering down payment assistance and a competitive interest rate for buyers in Buncombe County.
How does Asheville's competitive housing market affect the mortgage pre-approval and offer process?
Asheville's low inventory and high demand make a strong, verified pre-approval from a reputable local lender essential. Sellers often favor offers backed by lenders familiar with the area's appraisal challenges, especially for unique or older homes common in neighborhoods like West Asheville or Montford. Being pre-approved for an amount that can cover a potential appraisal gap is a significant advantage in a multiple-offer situation.
What should I know about getting a mortgage for a historic or older home in Asheville?
Financing older homes, common in Asheville's historic districts, can require specific loan programs. A standard FHA loan may have stricter property condition requirements. Many buyers and lenders opt for a conventional loan or explore a renovation loan like the FHA 203(k) to finance both purchase and needed updates. A specialized appraisal that accounts for historic value is often necessary.
Does the high percentage of vacation rental properties in Asheville affect mortgage lending rules?
Yes, it can. Lenders are increasingly cautious in neighborhoods with a high concentration of short-term rentals (STRs). If you're buying a primary residence, this may not directly affect your loan, but lenders may scrutinize appraisals and market stability more closely. If you're seeking financing for an investment property to use as an STR, expect stricter requirements, including a larger down payment (often 20-25% minimum) and higher interest rates.
Why Choose a Mortgage Lender in Asheville?
Local Market Knowledge
Lenders who understand Asheville'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 North Carolina.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Asheville and get competitive rates on your home loan.