The Best Mortgage Lenders in Ashland, VA
Compare verified mortgage lenders serving Ashland, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Ashland
Featured Mortgage Lenders
Atlantic Bay Mortgage Group
Atlantic Bay Mortgage Group
Atlantic Bay Mortgage Group is one of Virginia's most highly-rated mortgage lenders with a strong presence throughout central Virginia. Founded in Virginia Beach, they have expanded across the state with multiple offices including their Glen Allen location that serves the Ashland area. They consistently receive exceptional customer reviews for their personalized service, competitive rates, and efficient loan processing. Their team specializes in first-time homebuyer programs, VA loans (important for military families near Fort Gregg-Adams), and conventional financing. With over 26 years in business and thousands of 5-star reviews, they're known for their local expertise and commitment to Virginia homebuyers.
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Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage has established a strong reputation in the Richmond metropolitan area, including serving Ashland homebuyers. While founded more recently than some competitors, they've rapidly grown into one of the nation's top mortgage lenders with a significant Virginia presence. They're particularly praised for their streamlined digital process and quick closing times, often completing loans in 30 days or less. Their local loan officers have deep knowledge of the Ashland and Hanover County market. Movement receives consistently high marks for customer communication, transparent pricing, and their community involvement throughout central Virginia.
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Virginia Credit Union
Virginia Credit Union
Virginia Credit Union is one of the most trusted financial institutions serving central Virginia, including Ashland residents. As a member-owned cooperative, they often offer competitive rates and lower fees than traditional banks. With nearly 90 years of service to Virginia communities, they have deep roots in the region and understand local housing markets. Their mortgage team receives excellent reviews for personalized service and guidance through the entire homebuying process. VACU offers special first-time homebuyer programs and down payment assistance options that are particularly valuable in the competitive Ashland market. Their physical branches and local decision-making provide advantages for Ashland homebuyers seeking a community-focused lender.
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Frequently Asked Questions
Common questions about mortgage lending in Ashland, VA
Are there any first-time homebuyer programs specific to Ashland, VA, that can help with down payment or closing costs?
Yes, the Virginia Housing Development Authority (VHDA) offers statewide programs like the VHDA Down Payment Assistance Grant, which is widely used in Ashland. Additionally, Hanover County, where Ashland is located, may have local initiatives or grants; it's recommended to check with the county's Community Development department. Many Ashland lenders are well-versed in these programs and can help you combine them with VHDA's affordable first mortgage options.
How do Ashland's historic district and flood zones impact the mortgage process?
Purchasing a home in Ashland's designated historic district may require a specialized appraisal and could involve stricter renovation loan requirements to preserve historic character. Furthermore, parts of Ashland near the South Anna River or other waterways are in FEMA-designated flood zones, which will typically require mandatory flood insurance as a condition of your mortgage, adding to your monthly costs.
What are typical mortgage rates and lender competition like in Ashland compared to the broader Richmond metro area?
Mortgage rates in Ashland are generally in line with national and Richmond-area averages, but you may find competitive offerings due to strong local lender presence from both regional banks and credit unions. The highly sought-after Ashland market can mean lenders are eager to compete for your business, so it pays to shop around with local institutions familiar with the town's unique property types.
As a commuter town, do lenders in Ashland view debt-to-income ratios differently for buyers with jobs in Richmond or Washington D.C.?
Lenders in Ashland are very accustomed to applicants who commute to Richmond, Northern Virginia, or D.C. They will calculate your debt-to-income (DTI) ratio using your gross income, regardless of commute. However, a stable job history and consistent income are critical. Be prepared to document your employment and possibly explain a longer commute if you work far outside the area.
Are there special considerations for getting a mortgage on a home with accessory dwelling units (ADUs) or "mother-in-law suites" in Ashland?
Yes, this is a common scenario in Ashland. To use potential rental income from an ADU to help qualify for the mortgage, the unit must meet local zoning codes and have a history of rental (typically 2 years) or a certified market rent appraisal. Lenders will also consider the added value of the ADU during the appraisal process, which can be beneficial for loan-to-value calculations.
Why Choose a Mortgage Lender in Ashland?
Local Market Knowledge
Lenders who understand Ashland'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 Ashland and get competitive rates on your home loan.