The Best Mortgage Lenders in Ammon, VA
Compare verified mortgage lenders serving Ammon, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Ammon
Featured Mortgage Lenders
Atlantic Bay Mortgage Group
Atlantic Bay Mortgage Group, LLC
Atlantic Bay Mortgage Group is a top-rated regional lender with a strong presence in Virginia, including service to Ammon and surrounding rural areas. Founded in 1996, it has built a reputation for exceptional customer service, competitive rates, and a wide range of loan products. Highly rated for its efficient processing and personalized approach, Atlantic Bay is known for its commitment to community involvement and has numerous positive reviews highlighting its reliability and expertise in handling various mortgage types, making it a preferred choice for homebuyers in Southside Virginia.
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Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a nationally recognized lender with a robust local presence in Virginia, serving Ammon and other communities through its Richmond office. Established in 2008, it excels in providing fast, transparent mortgage services with a focus on customer satisfaction. Movement is praised for its competitive rates, innovative technology, and dedicated loan officers who offer personalized guidance. With high ratings for its streamlined processes and strong community support, it has become a trusted name for homebuyers seeking reliable and efficient financing solutions in rural and urban areas alike.
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New American Funding
New American Funding, LLC
New American Funding is a highly-rated national lender with extensive experience serving Virginia, including Ammon and Brunswick County. Founded in 2003, it offers a diverse portfolio of loan options and is renowned for its competitive rates, exceptional customer service, and efforts to promote homeownership through various programs. With strong reviews emphasizing its responsiveness and expertise, New American Funding has a track record of helping borrowers in rural areas navigate the mortgage process smoothly, backed by a commitment to integrity and community engagement.
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Frequently Asked Questions
Common questions about mortgage lending in Ammon, VA
What are the typical down payment requirements for homes in Ammon, VA, given its rural setting?
While standard loans often require 3-5% down, many homes in rural Franklin County, including Ammon, may qualify for USDA Rural Development loans, which offer 0% down payment options. This is a significant advantage for buyers in this area, as the USDA designates many parts of the county as eligible. It's essential to have a lender verify the specific property's eligibility.
Are there any local or state first-time homebuyer programs specifically beneficial for purchasing in Ammon?
Yes, the Virginia Housing (VHDA) Down Payment Assistance Grant is a key resource, providing up to 2.5% of the home's purchase price in non-repayable funds for qualified first-time buyers in Virginia. When combined with a VHDA loan, this can be especially helpful in Ammon, where median home prices are often more accessible than in urban areas, making the grant go further.
How do property taxes in Franklin County impact the mortgage qualification process for an Ammon home?
Franklin County has relatively low property tax rates compared to more urban parts of Virginia. While this is a long-term benefit for homeowners, lenders will still include the estimated annual tax bill (along with homeowner's insurance) in your total monthly payment calculation (PITI). The good news is that lower taxes can improve your debt-to-income ratio, potentially allowing you to qualify for a slightly larger loan amount.
What should I know about well and septic inspections when getting a mortgage for a home in Ammon?
Most homes in Ammon are not connected to municipal water and sewer, so lenders will require a satisfactory well water test and septic system inspection as a condition of the loan. These are critical for the appraisal and for ensuring the property is habitable. You should budget for these inspections separately, and any significant issues found may need to be repaired before the loan can close.
How does the appraisal process differ for a rural property in Ammon compared to a suburban home?
Appraisals in Ammon can be more complex due to the unique nature of rural properties, such as larger parcels of land, outbuildings, and the use of well and septic. The appraiser must find comparable sales ("comps") from similar rural areas, which can sometimes take longer and may lead to more variability in the appraised value. It's important to work with a lender experienced in rural mortgages who understands this process.
Why Choose a Mortgage Lender in Ammon?
Local Market Knowledge
Lenders who understand Ammon'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 Ammon and get competitive rates on your home loan.