The Best Mortgage Lenders in Blacksburg, VA
Compare verified mortgage lenders serving Blacksburg, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Blacksburg
Featured Mortgage Lenders
Atlantic Bay Mortgage Group
Atlantic Bay Mortgage Group, LLC
Atlantic Bay Mortgage Group is a highly reputable lender with deep roots in Southwest Virginia, known for its exceptional customer service and competitive rates. With over 28 years of experience, they specialize in a wide range of loan products and have a strong local presence, making them a top choice for Blacksburg residents. Their personalized approach and efficient processing have earned them consistently high ratings and loyalty from homebuyers in the region.
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Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a nationally recognized lender with a strong commitment to community involvement and customer satisfaction. Founded in 2008, they offer a streamlined digital application process and competitive loan options, serving Blacksburg through local loan officers. Their focus on transparency and fast closings, combined with high customer ratings, makes them a reliable choice for home financing in the area.
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New American Funding
New American Funding, LLC
New American Funding is a top-rated mortgage lender known for its diverse loan programs and excellent customer service, with a significant presence in Virginia. Since 2003, they have provided competitive rates and specialized options for first-time homebuyers, serving Blacksburg through a network of local experts. Their high review counts and commitment to inclusivity make them a trusted partner for mortgages in the region.
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Frequently Asked Questions
Common questions about mortgage lending in Blacksburg, VA
Are there any special mortgage programs for first-time homebuyers in Blacksburg, VA?
Yes, the Virginia Housing Development Authority (VHDA) offers several programs popular in Blacksburg, including the VHDA FHA and Conventional loans with down payment assistance grants. Additionally, the Town of Blacksburg itself occasionally administers its own down payment and closing cost assistance programs for income-eligible buyers, which can be layered with VHDA loans for maximum benefit.
How does the presence of Virginia Tech influence the mortgage and housing market in Blacksburg?
Virginia Tech creates a consistently strong rental market, making investment property mortgages a common consideration. For primary residences, competition can be fierce for homes near campus, often leading to multiple-offer situations that may require stronger pre-approvals and flexible financing terms. Lenders familiar with the area understand the seasonal cycles tied to the academic calendar.
What are typical down payment requirements for homes in Blacksburg given the local price range?
While standard loans require 3-5% down, the median home price in Blacksburg allows many buyers to utilize conventional financing with these lower down payments. For the popular townhome and condo markets, which are attractive to first-time buyers and investors, FHA loans with 3.5% down are common, though some condominium projects must be on the FHA-approved list.
Are there specific lenders or credit unions in Blacksburg that offer advantages for local homebuyers?
Yes, local institutions like Atlantic Union Bank and the Virginia Tech Federal Credit Union (VTFU) often have deep community ties and may offer special mortgage programs or discounts for university employees, alumni, or local residents. They typically have a strong understanding of the unique Blacksburg market and appraisal process.
How do property taxes and homeowners insurance costs in Blacksburg affect my mortgage payment?
Montgomery County property taxes are a key component of your monthly escrow payment, with rates that are generally competitive within Virginia. Insurance costs can be slightly elevated in some older neighborhoods near campus due to the high concentration of student rentals. Your lender will help you accurately estimate these costs, which are crucial for budgeting in a market with rising home values.
Nearby Cities
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Why Choose a Mortgage Lender in Blacksburg?
Local Market Knowledge
Lenders who understand Blacksburg'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 Blacksburg and get competitive rates on your home loan.