The Best Mortgage Lenders in Broad Run, VA
Compare verified mortgage lenders serving Broad Run, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Broad Run
Featured Mortgage Lenders
Virginia Heritage Credit Union Mortgage Team
Virginia Heritage Credit Union
Virginia Heritage Credit Union is a highly-rated local financial institution serving Northern Virginia communities including Broad Run. With over 65 years of operation, they offer personalized mortgage services with competitive rates and exceptional member service. Their mortgage team specializes in first-time homebuyer programs and offers a full range of loan products with local underwriting decisions. Members consistently praise their responsive service, transparent process, and commitment to finding the right mortgage solution for each borrower's unique situation.
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Prosperity Home Mortgage, LLC
Prosperity Home Mortgage, LLC
Prosperity Home Mortgage has been serving Virginia homebuyers for nearly three decades with a strong presence throughout Northern Virginia. They are particularly noted for their expertise in VA loans and first-time homebuyer programs, making them an excellent choice for Broad Run residents. The company receives consistent praise for their knowledgeable loan officers, efficient closing processes, and competitive rate offerings. Their local processing and underwriting teams ensure smooth transactions and personalized service throughout the mortgage process.
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First Home Mortgage Corporation
First Home Mortgage Corporation
First Home Mortgage has been serving the Washington D.C. metropolitan area including Northern Virginia for over 30 years. They maintain a strong local presence with deep knowledge of the Broad Run and Loudoun County real estate markets. The company is renowned for their comprehensive loan options and exceptional customer service, with many reviewers highlighting their responsiveness and attention to detail. Their experienced loan officers provide personalized guidance through the entire mortgage process, from pre-approval to closing, with local decision-making authority that streamlines the experience for Broad Run homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Broad Run, VA
Are there any special mortgage considerations for buying a home in Broad Run's more rural or agricultural areas?
Yes, if you're looking at properties with acreage, outbuildings, or potential agricultural use, lenders will have specific requirements. They may require specialized appraisals that account for land value and may have stricter loan-to-value ratios. It's crucial to work with a lender familiar with rural properties in Fauquier and Loudoun counties to navigate these nuances.
What are the typical down payment assistance programs available for first-time homebuyers in Broad Run, VA?
Broad Run homebuyers can access statewide Virginia Housing (VHDA) programs, which offer competitive rates and down payment assistance grants or second mortgages. Additionally, some local lenders partner with county-specific initiatives in Fauquier or Loudoun that may offer closing cost assistance. Eligibility often depends on income limits and completing a homebuyer education course.
How do property taxes in Broad Run impact my mortgage qualification and monthly payment?
Broad Run is in Fauquier County, which has a relatively low real estate tax rate compared to neighboring Northern Virginia counties. For 2024, the rate is $0.86 per $100 of assessed value. Your lender will calculate this into your debt-to-income ratio and escrow payment. It's a positive factor that can improve borrowing power compared to buying in areas with higher tax burdens.
Given Broad Run's location, are USDA Rural Development loans a viable option for mortgages here?
Absolutely. Much of Broad Run is eligible for USDA Rural Development loans, which offer 100% financing (no down payment). This is a significant advantage for eligible buyers in this area. You should check the USDA eligibility map for the specific property address, as some newer subdivisions on the eastern side near Arcola may not qualify.
How does the appraisal process work for Broad Run's mix of older homes and new construction?
Appraisals here must account for a diverse market. For older homes, appraisers will closely examine well and septic systems, as public utilities are limited. For new construction in developments like The Villages at Broad Run, they will use recent sales from similar communities. Comparables can be challenging for unique properties, so using a local lender with appraiser familiarity is key.
Why Choose a Mortgage Lender in Broad Run?
Local Market Knowledge
Lenders who understand Broad Run'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 Broad Run and get competitive rates on your home loan.