The Best Mortgage Lenders in Ashburn, VA
Compare verified mortgage lenders serving Ashburn, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Ashburn
Featured Mortgage Lenders
Atlantic Coast Mortgage
Atlantic Coast Mortgage, LLC
Atlantic Coast Mortgage is a highly-rated local mortgage lender with deep roots in Northern Virginia. They maintain exceptional 4.9-star ratings across multiple review platforms and are particularly praised for their personalized service, competitive rates, and expertise with VA loans in this military-friendly region. Their local processing and underwriting teams provide faster turnaround times, and they offer a wide range of loan programs including specialized options for first-time homebuyers. The company has consistently been ranked among the top mortgage lenders in the Washington D.C. metropolitan area.
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First Home Mortgage
First Home Mortgage Corporation
First Home Mortgage has been serving the Mid-Atlantic region for over three decades with a strong presence in Ashburn and throughout Loudoun County. They boast excellent customer satisfaction ratings and are known for their competitive pricing and extensive loan product offerings. The company specializes in both purchase and refinance transactions, with particular expertise in the Northern Virginia market. Their local loan officers have deep knowledge of the Ashburn area's specific housing market dynamics and provide personalized guidance throughout the mortgage process.
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George Mason Mortgage
George Mason Mortgage, LLC
George Mason Mortgage is a well-established regional lender with a strong reputation throughout Northern Virginia, including extensive service in Ashburn. As a joint venture between multiple local banks, they combine the personal service of a local lender with the resources of larger financial institutions. They are particularly recognized for their competitive conventional and jumbo loan programs, and their experienced loan officers provide exceptional guidance through the complex Northern Virginia real estate market. The company has maintained consistent high ratings for their reliability and customer-focused approach to mortgage lending.
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Frequently Asked Questions
Common questions about mortgage lending in Ashburn, VA
Are there any special mortgage programs for first-time homebuyers in Ashburn, VA?
Yes, the Virginia Housing Development Authority (VHDA) offers several programs, like the VHDA FHA and Conventional loans, which are popular in Ashburn. These programs often feature competitive interest rates, down payment assistance grants, and lower mortgage insurance requirements, which are crucial in Ashburn's competitive market to help with initial affordability.
How do Loudoun County property taxes impact my monthly mortgage payment in Ashburn?
Loudoun County has one of the highest property tax rates in Virginia, currently around $0.96 per $100 of assessed value. This significantly impacts your total monthly PITI (Principal, Interest, Taxes, Insurance) payment. When budgeting for a home in Ashburn, it's essential to factor in this substantial tax component, which can add hundreds of dollars to your monthly obligation.
What is a typical down payment percentage needed for a home in Ashburn's competitive market?
While 20% is ideal to avoid private mortgage insurance (PMI), many buyers in Ashburn's high-demand market successfully purchase with 3-5% down using conventional loans or 3.5% with FHA loans. However, a stronger down payment (10-20%) is often recommended to make your offer more competitive against multiple bids, which are common in sought-after Ashburn neighborhoods.
Are there specific mortgage considerations for buying a home in one of Ashburn's many planned communities with HOAs?
Absolutely. Lenders will include the Homeowners Association (HOA) fee in your debt-to-income ratio calculation. Ashburn communities like Broadlands, Belmont Greene, and Ashburn Village have monthly HOA dues that can range from $50 to over $200. You must qualify for your mortgage payment plus this monthly fee, and the lender will verify the HOA's financial health as part of the approval process.
How do interest rates for jumbo loans in Ashburn compare to conforming loan rates?
Given Ashburn's higher median home prices, jumbo loans (over $766,550 in 2024) are common. Jumbo loan interest rates in Northern Virginia are typically 0.25% to 0.5% higher than conforming loan rates. It's crucial to work with a lender experienced in the Ashburn market who has strong jumbo loan products and can navigate the stricter credit and reserve requirements these loans entail.
Why Choose a Mortgage Lender in Ashburn?
Local Market Knowledge
Lenders who understand Ashburn'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 Ashburn and get competitive rates on your home loan.