The Best Mortgage Lenders in Faison, NC
Compare verified mortgage lenders serving Faison, North Carolina. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Faison
Featured Mortgage Lenders
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a highly-rated national lender with a strong presence in North Carolina, known for its competitive rates and exceptional customer service. They specialize in a wide range of loan products, including USDA loans that benefit rural areas like Faison. With a 4.8-star rating from numerous reviews, they are praised for their streamlined process, local expertise, and commitment to community engagement. Their Raleigh office serves the Faison area effectively, offering personalized support and fast closings.
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Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a top-rated lender with deep roots in North Carolina, including service to Faison. Founded in 1996, they have nearly three decades of experience and a 4.7-star rating for their reliable, customer-focused approach. They offer competitive rates and a variety of loan options, with expertise in USDA and VA loans that appeal to rural and military communities. Their Wilmington branch provides local support, ensuring responsive service and a smooth mortgage process for homebuyers in the Faison region.
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New American Funding
New American Funding, LLC
New American Funding is a reputable lender serving Faison and surrounding areas with a 4.6-star rating and over 20 years of experience. They are known for their diverse loan portfolio, including specialized programs for first-time buyers and competitive refinancing options. Their commitment to customer satisfaction is evident in their responsive service and educational resources. The Charlotte office supports clients in Faison with local market knowledge, making them a reliable choice for mortgages in Eastern North Carolina.
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Frequently Asked Questions
Common questions about mortgage lending in Faison, NC
What are the typical down payment requirements for homes in Faison, NC, and are there local programs to assist?
In Faison's more affordable market, many conventional loans require a 3-5% down payment, but local and state programs can help. The NC Home Advantage Mortgage™ offers down payment assistance up to 5% of the loan amount, which is a forgivable grant, and is widely available to buyers in Duplin County. Additionally, USDA loans, which require 0% down, are a popular option given Faison's rural eligibility.
How does Faison's rural location impact my mortgage options and interest rates?
Faison's rural designation opens up access to USDA Section 502 Guaranteed Loans, which offer competitive, often below-market, interest rates and require no down payment. While national rate trends still apply, lenders may view properties in stable, small towns like Faison favorably. It's wise to work with a lender experienced in rural financing to navigate these specific programs.
Are there specific first-time homebuyer programs or grants available for Faison residents?
Yes, first-time homebuyers in Faison should explore the NC 1st Home Advantage Down Payment program, which provides up to $15,000 in down payment assistance as a 0% interest, forgivable loan. This state program, combined with the NC Home Advantage Mortgage™, is particularly powerful in Faison's market, making homeownership very accessible for qualifying buyers with moderate incomes.
What should I know about property taxes and insurance when calculating my mortgage payment in Faison?
Duplin County property taxes are relatively low, with a 2024 rate of approximately 0.74% of assessed value, which positively impacts your total monthly payment. For insurance, while flood zones are not widespread, some areas may require additional coverage. Your lender will help you escrow for these costs, but budgeting for a homeowners insurance premium typical of a rural area is advisable.
How does the appraisal process work for a home in a small town like Faison, and what are the challenges?
Appraisals in Faison can be challenging due to fewer recent comparable sales ("comps") than in urban areas. Appraisers may need to look at similar homes in nearby towns like Warsaw or Magnolia. To avoid delays, provide your lender with any information on recent upgrades or unique property features. Using a local lender familiar with the Duplin County market can streamline this process.
Why Choose a Mortgage Lender in Faison?
Local Market Knowledge
Lenders who understand Faison'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 Faison and get competitive rates on your home loan.