The Best Mortgage Lenders in Frisco, NC
Compare verified mortgage lenders serving Frisco, North Carolina. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Frisco
Featured Mortgage Lenders
Atlantic Bay Mortgage Group
Atlantic Bay Mortgage Group, LLC
Atlantic Bay Mortgage Group is a top-rated lender with a strong local presence in the Outer Banks, including Frisco. Known for exceptional customer service and competitive rates, they have built a reputation over 28 years for handling coastal property financing with expertise. Their high ratings reflect consistent customer satisfaction, and they offer a wide range of loan products tailored to first-time homebuyers, investors, and vacation home seekers in the Frisco area.
Loan Types:
Movement Mortgage
Movement Mortgage, Inc.
Movement Mortgage is a highly reputable national lender with a strong regional footprint in North Carolina, including service to Frisco. They are praised for their efficient online processes and personalized local loan officer support. With 16 years of experience, they provide competitive rates and a variety of loan options, earning high customer ratings for reliability and swift closings, making them a preferred choice for Frisco residents.
Loan Types:
Sound Bank
Sound Bank
Sound Bank is a community-focused lender deeply embedded in the Outer Banks, with specific expertise in serving Frisco and coastal communities. Founded in 2004, they offer personalized service and competitive loan products, including specialized options for vacation homes and construction. Their high customer ratings stem from local knowledge, responsive support, and a commitment to the unique needs of Frisco homebuyers, backed by two decades of trusted service.
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Frequently Asked Questions
Common questions about mortgage lending in Frisco, NC
What are the unique considerations for getting a mortgage for a home in Frisco, NC, given its location on Hatteras Island?
Lenders will often require specific windstorm or hurricane insurance coverage, which can be more expensive and impact your total monthly payment. Additionally, due to the coastal environment and potential for flood zones, a separate flood insurance policy through the NFIP is frequently mandatory, adding another layer to your closing costs and escrow.
Are there any down payment assistance or first-time homebuyer programs specifically beneficial for buying in Frisco, NC?
While Frisco itself doesn't have a city-specific program, North Carolina's NC Home Advantage Mortgage™ program is widely accessible in Dare County. This program offers down payment assistance up to 5% of the loan amount, which can be a huge help in a market with high demand for vacation and primary homes. Eligibility is based on income and credit, and it's a valuable resource for qualifying buyers.
How do mortgage rates and lending criteria in Frisco compare to the mainland of North Carolina?
Mortgage rates themselves are typically set nationally, so you won't see a "Frisco rate." However, lenders may apply slightly stricter criteria or additional scrutiny due to the property's location in a coastal area prone to natural hazards. Your debt-to-income ratio and credit score remain paramount, but the property's insurance requirements and appraisal (considering unique island factors) are critical parts of the approval process.
What should I know about the appraisal process for a home in Frisco, given the unique vacation rental market?
Appraisals in Frisco must carefully consider whether a property is used as a primary residence, a second home, or an investment property with rental income. For investment properties, lenders will heavily scrutinize documented rental history to factor income into your qualification. The appraiser will also look closely at comparable sales ("comps") of similar island properties, which can be volatile based on tourism trends.
Is it harder to qualify for a mortgage on a condo or townhome in Frisco compared to a single-family home?
Yes, financing condos or townhomes in Frisco can be more complex. Lenders will require the homeowners' association (HOA) to be reviewed and approved, checking for adequate reserves, insurance, and a low percentage of rental units. Many Frisco condos are vacation rentals, which can make them ineligible for conventional, FHA, or VA financing if the rental concentration is too high, potentially limiting your loan options.
Why Choose a Mortgage Lender in Frisco?
Local Market Knowledge
Lenders who understand Frisco'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 Frisco and get competitive rates on your home loan.