The Best Mortgage Lenders in Alexandria, VA
Compare verified mortgage lenders serving Alexandria, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Alexandria
Featured Mortgage Lenders
George Mason Mortgage, LLC
George Mason Mortgage, LLC
George Mason Mortgage has been serving the Northern Virginia area for three decades with exceptional local expertise in Alexandria and surrounding communities. They are particularly renowned for their expertise in VA loans, making them an excellent choice for military families and veterans. Their local processing and underwriting teams provide personalized service with deep knowledge of the Alexandria real estate market. They consistently receive high marks for competitive rates, transparent communication, and streamlined closing processes.
Loan Types:
Burke & Herbert Bank
Burke & Herbert Bank & Trust Company
As Alexandria's oldest bank with deep community roots dating back to 1852, Burke & Herbert Bank offers exceptional local mortgage lending with personalized service. Their mortgage specialists have extensive knowledge of Alexandria's unique neighborhoods and property types. They provide competitive rates with the convenience of local decision-making and in-person service. The bank is highly regarded for their commitment to the Alexandria community and their ability to handle complex local real estate transactions with expertise.
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Atlantic Coast Mortgage
Atlantic Coast Mortgage, LLC
Atlantic Coast Mortgage has built an outstanding reputation throughout Northern Virginia with numerous positive reviews highlighting their exceptional customer service and competitive rates. They serve Alexandria extensively and are known for their efficient processing and closing timelines. The company specializes in both purchase and refinance loans with particular expertise in jumbo loans for the Alexandria market. Their local loan officers provide personalized guidance through the entire mortgage process, earning them consistent top ratings from Alexandria homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Alexandria, VA
What are the current mortgage rates like in Alexandria, VA, and how do they compare to the national average?
Mortgage rates in Alexandria are typically very competitive and often align closely with national averages, but can be slightly influenced by the high demand and strong credit profiles common in the DC metro area. It's wise to compare rates from both large national lenders and local credit unions or community banks in Northern Virginia, as local institutions sometimes offer special programs for residents.
Are there any special first-time homebuyer programs available specifically for Alexandria residents?
Yes, the Virginia Housing Development Authority (VHDA) offers several programs, like the VHDA FHA and Conventional loans with down payment assistance, which are available to eligible buyers in Alexandria. Additionally, the City of Alexandria itself offers the Homeownership Assistance Program (HAP), which provides deferred, no-interest loans to help with down payment and closing costs for income-qualified first-time buyers purchasing within city limits.
How does the high property tax rate in Alexandria impact my mortgage affordability?
Alexandria has one of the higher property tax rates in Northern Virginia (currently $1.11 per $100 of assessed value). Lenders will include this cost in your total monthly payment calculation (escrow), which can significantly impact the loan amount you qualify for. When getting pre-approved, ensure your debt-to-income ratio is calculated using accurate estimates of Alexandria's property taxes and any homeowner association (HOA) fees.
What should I know about getting a mortgage for a historic home in Old Town Alexandria?
Financing a historic property, especially in a district like Old Town, often requires a specialized appraisal that understands historical value and may involve stricter inspections for older systems (plumbing, electrical, roofing). Some renovation loans, like the FHA 203(k), can be particularly useful for updating a historic home while preserving its character, but you should work with a lender experienced in such properties.
How competitive is the mortgage pre-approval process in Alexandria's real estate market?
Extremely competitive. In Alexandria's fast-paced market, a strong pre-approval letter from a reputable local lender is often a minimum requirement to have your offer taken seriously. Sellers favor buyers who can demonstrate solid financing readiness. Consider getting a fully underwritten pre-approval (not just a pre-qualification) to make your offer stand out, as it provides greater assurance of closing.
Why Choose a Mortgage Lender in Alexandria?
Local Market Knowledge
Lenders who understand Alexandria'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 Virginia.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Alexandria and get competitive rates on your home loan.