The Best Mortgage Lenders in Bloxom, VA
Compare verified mortgage lenders serving Bloxom, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Bloxom
Featured Mortgage Lenders
Eastern Shore Mortgage
Eastern Shore Mortgage, LLC
Eastern Shore Mortgage is a highly-rated local broker specializing in serving the rural communities of Virginia's Eastern Shore, including Bloxom. With over 20 years of experience, they are praised for personalized service, deep knowledge of USDA and VA loans ideal for the area, and competitive rates. Their strong community presence and commitment to customer satisfaction make them a top choice for homebuyers in Accomack County.
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Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a nationally recognized lender with a strong local presence in Virginia, known for its efficient online processes and dedicated local loan officers serving Bloxom. They offer competitive rates, a wide range of loan products, and exceptional customer service, with numerous reviews highlighting their responsiveness and support for first-time homebuyers in rural areas.
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New American Funding
New American Funding, LLC
New American Funding is a top-rated mortgage lender with a regional office in Norfolk that actively serves the Eastern Shore, including Bloxom. They are celebrated for their diversity in loan options, including programs for low-to-moderate income borrowers, and have a reputation for transparency and competitive pricing. Their long-standing experience and high customer satisfaction scores make them a reliable choice for Virginia homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Bloxom, VA
What are the current mortgage rates like in Bloxom, VA, and how do they compare to state averages?
Mortgage rates in Bloxom are generally aligned with national and Virginia state averages, but local lenders on the Eastern Shore may offer competitive terms. As a rural area, rates can sometimes be slightly higher due to smaller lender competition, but shopping with both local community banks and regional credit unions can help secure favorable terms. It's important to get personalized quotes, as your specific financial profile will have the greatest impact on your rate.
Are there any special loan programs for first-time homebuyers available specifically in Bloxom?
Yes, Bloxom homebuyers can access the Virginia Housing Development Authority (VHDA) programs, which are available statewide. These include loans with competitive interest rates, down payment assistance grants, and closing cost assistance. Working with a VHDA-approved lender is essential, and many local Eastern Shore banks and mortgage brokers are familiar with these programs and can guide you through the application process tailored to the area's more affordable housing market.
How does the appraisal process work for a home in a small, rural town like Bloxom?
Appraisals in Bloxom can present unique challenges due to the limited number of recent, comparable home sales ("comps") in the immediate area. Appraisers may need to look at sales in nearby towns like Parksley, Accomac, or Onancock to establish value. This can sometimes lead to longer timelines or more conservative valuations, so it's wise to work with a lender experienced in rural Eastern Shore properties who understands how to navigate this process effectively.
What should I know about property taxes and insurance when budgeting for a mortgage in Bloxom?
Property taxes in Bloxom (Accomack County) are relatively low compared to urban areas in Virginia, which is a benefit for monthly mortgage payments. However, due to its coastal location on the Eastern Shore, flood insurance is a critical and often mandatory consideration. Many properties are in or near flood zones, so factoring in the cost of a flood insurance policy, on top of standard homeowners insurance, is a non-negotiable part of your mortgage budgeting in Bloxom.
Are USDA loans a viable option for buying a home in Bloxom, VA?
Absolutely. Given Bloxom's rural designation, most of the town and surrounding Accomack County is eligible for USDA Rural Development loans, which offer 100% financing (no down payment). This is one of the most advantageous programs for eligible buyers in the area, making homeownership more accessible. A local mortgage lender can confirm the specific property's eligibility and help you determine if you meet the income requirements for this popular program.
Why Choose a Mortgage Lender in Bloxom?
Local Market Knowledge
Lenders who understand Bloxom'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 Bloxom and get competitive rates on your home loan.