The Best Mortgage Lenders in Burke, VA
Compare verified mortgage lenders serving Burke, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Burke
Featured Mortgage Lenders
Atlantic Coast Mortgage
Atlantic Coast Mortgage, LLC
Atlantic Coast Mortgage is a top-rated local lender known for its exceptional customer service and deep expertise in the Northern Virginia housing market. Founded in 2007, they have built a strong reputation for offering competitive rates, flexible loan options, and personalized guidance. With hundreds of positive reviews highlighting their responsiveness and transparency, they are a trusted choice for homebuyers in Burke and surrounding areas. Their team includes experienced loan officers who provide tailored solutions for first-time homebuyers, veterans, and investors alike.
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Prosperity Home Mortgage
Prosperity Home Mortgage, LLC
Prosperity Home Mortgage, part of the established Prosperity Bank network, has been serving the Burke community since 2003 with reliable and innovative mortgage solutions. They are praised for their competitive rates, efficient processing, and dedicated local support. With a focus on customer satisfaction, they offer a wide range of loan products, including specialized programs for first-time homebuyers and refinancing. Their strong regional presence and high review scores reflect their commitment to making the home financing process smooth and accessible.
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New American Funding
New American Funding
New American Funding is a nationally recognized lender with a strong local office in Vienna, serving Burke residents with a comprehensive suite of mortgage products. Founded in 2003, they are known for their competitive rates, diverse loan options, and commitment to underserved communities. They have received high marks for customer service, with many reviews noting their responsiveness and ability to handle complex cases. Their local team provides personalized advice and support, making them a popular choice for homebuyers seeking reliability and expertise in the Northern Virginia market.
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Frequently Asked Questions
Common questions about mortgage lending in Burke, VA
Are there any first-time homebuyer programs specific to Burke, VA that can help with down payments?
While there are no programs exclusive to Burke, Virginia Housing offers statewide programs like VHDA loans and the Down Payment Assistance Grant, which are widely used by Burke buyers. These programs are particularly valuable in Burke's competitive market, where the median home price is above the state average, to help bridge the affordability gap. It's advisable to work with a local lender experienced in these state programs.
How do property taxes in Fairfax County impact my mortgage payments in Burke?
Burke's property taxes are governed by Fairfax County, which has a current rate of $1.11 per $100 of assessed value. This rate is factored into your monthly escrow payment and is a significant consideration given Burke's higher-than-average home values. When budgeting for your total monthly mortgage payment, you must account for this tax rate on top of your principal and interest.
What are typical mortgage rates offered by lenders in the Burke area?
Mortgage rates in Burke align with national averages but can vary slightly between local credit unions, national banks, and mortgage brokers. Local institutions like Burke & Herbert Bank or Navy Federal Credit Union (given the proximity to military installations) often offer competitive rates and personalized service. It's crucial to get quotes from multiple local lenders to find the best combination of rate and fees for your situation.
Does Burke's location in a flood zone affect the mortgage process?
Certain neighborhoods in Burke, particularly those near South Run or Pohick Creek, may be in designated flood zones. If your desired property is in a Special Flood Hazard Area, your lender will require you to purchase flood insurance as a condition of the mortgage, adding to your monthly housing cost. A lender will order a Flood Zone Determination early in the process to confirm this requirement.
Are there specific loan considerations for buying a townhouse in Burke's many townhome communities?
Yes, financing a townhouse in communities like Burke Centre or Rolling Valley often involves checking the health of the Homeowners Association (HOA). Lenders will review the HOA's reserves, insurance, and delinquency rates, as a financially unstable HOA can affect loan approval. Additionally, condo/townhome loans may have slightly different requirements and rates compared to single-family detached homes, so working with a lender familiar with Burke's specific communities is beneficial.
Nearby Cities
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Why Choose a Mortgage Lender in Burke?
Local Market Knowledge
Lenders who understand Burke'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 Burke and get competitive rates on your home loan.