The Best Mortgage Lenders in Amherst, VA
Compare verified mortgage lenders serving Amherst, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Amherst
Featured Mortgage Lenders
Carter Bank & Trust Mortgage
Carter Bank & Trust
Carter Bank & Trust is one of Virginia's most established community banks with deep roots throughout Southern Virginia. While headquartered in Martinsville, they serve the Amherst area with personalized mortgage services and local decision-making. Their mortgage team specializes in rural and suburban property financing with competitive rates for first-time homebuyers and experienced homeowners alike. With nearly 50 years of community banking experience, they offer the stability of a large institution with the personal touch of a local lender, making them a top choice for Amherst residents seeking reliable mortgage services.
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Member One Federal Credit Union Mortgage
Member One Federal Credit Union
Member One Federal Credit Union has been serving Central and Southwest Virginia communities for over 75 years, including the Amherst area. As a not-for-profit financial cooperative, they consistently offer highly competitive mortgage rates and exceptional member service. Their mortgage specialists provide personalized guidance through the entire home financing process, with particular expertise in VA loans and first-time homebuyer programs. The credit union's community-focused approach and member-owned structure ensure that customers receive attentive service and favorable terms, making them a premier mortgage option for Amherst homebuyers.
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Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage has built a strong reputation throughout Central Virginia with a significant local presence in Lynchburg, serving the Amherst community effectively. Known for their streamlined digital mortgage process and rapid closing times, they combine technology with personal service. Their local loan officers have extensive knowledge of the Amherst real estate market and specialize in various loan programs including VA and FHA loans. With hundreds of positive reviews highlighting their responsive communication and efficient processing, Movement Mortgage provides modern mortgage solutions while maintaining the personal touch that Amherst homebuyers appreciate.
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Frequently Asked Questions
Common questions about mortgage lending in Amherst, VA
Are there any special mortgage or down payment assistance programs for first-time homebuyers in Amherst, VA?
Yes, Amherst County participates in the Virginia Housing Down Payment Assistance (DPA) Grant program, which can provide eligible first-time buyers with funds for down payment and closing costs. Additionally, the Virginia Housing Mortgage Credit Certificate (MCC) program can provide a significant federal tax credit for a portion of the mortgage interest paid each year, which is particularly helpful given Amherst's median income levels.
How do property taxes in Amherst County affect my monthly mortgage payment?
Amherst County has a relatively low real estate tax rate compared to more urban areas of Virginia, currently at $0.58 per $100 of assessed value. Your lender will escrow for these taxes, adding them to your monthly payment. It's important to note that property assessments in Amherst can vary significantly between the town limits and more rural parts of the county, which will impact your escrow amount.
What types of properties in Amherst might require specialized mortgage loans?
Given Amherst's rural setting in the foothills of the Blue Ridge Mountains, you may encounter properties that require a USDA Rural Development loan or a loan for non-warrantable properties like certain large land parcels or unique homes. USDA loans are a zero-down-payment option for eligible buyers in designated rural areas, which includes much of Amherst County outside the town center.
How does the appraisal process work for homes in Amherst's varied market, which includes historic homes and new construction?
Appraisals in Amherst can be complex due to the mix of historic properties, rural land, and newer subdivisions. For older or unique homes, lenders often require appraisers with specific experience in the area who can properly identify comparable sales. In more remote parts of the county, limited comparable sales data can sometimes affect loan-to-value ratios and underwriting.
Are mortgage rates typically higher or lower in Amherst compared to the national average?
Mortgage rates in Amherst generally align with national averages, as they are set by larger market forces. However, local credit unions like Member One Federal Credit Union or Virginia Credit Union, which have a strong presence in the region, may offer competitive rates and special programs for Amherst County residents. Your specific rate will depend more on your credit profile and loan type than your Amherst location.
Why Choose a Mortgage Lender in Amherst?
Local Market Knowledge
Lenders who understand Amherst'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 Amherst and get competitive rates on your home loan.