The Best Mortgage Lenders in Carrollton, VA
Compare verified mortgage lenders serving Carrollton, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Carrollton
Featured Mortgage Lenders
Jason Biddle
Tidewater Home Funding
Tidewater Home Funding is one of the highest-rated mortgage lenders in the Hampton Roads region, serving Carrollton and surrounding areas with exceptional expertise. With nearly three decades of experience, they specialize in all loan types including VA loans, which is particularly valuable in this military-heavy region. Their team of local mortgage experts provides personalized service and competitive rates, with many customers praising their responsiveness, transparency, and smooth closing processes. They maintain a 4.9-star rating across multiple review platforms and have built a strong reputation for helping both first-time homebuyers and experienced investors throughout Southeastern Virginia.
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Bayport Credit Union Mortgage Department
Bayport Credit Union
Bayport Credit Union has been serving the Hampton Roads community for over 70 years and is highly regarded for their mortgage lending services in Carrollton and throughout the region. As a member-owned financial institution, they offer competitive rates and personalized service that often surpasses larger banks. Their mortgage team specializes in various loan programs with particular expertise in VA and FHA loans. Members consistently praise their local decision-making, streamlined application process, and commitment to community banking. With multiple branches throughout the area and deep roots in Southeastern Virginia, they provide reliable mortgage services with the personal touch of a local credit union.
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Movement Mortgage Carrollton
Movement Mortgage
Movement Mortgage has established a strong presence throughout Virginia, including dedicated service to Carrollton and the Hampton Roads area. While headquartered nationally, they maintain local loan officers who understand the Carrollton market specifically. They're known for their innovative digital mortgage process and quick closing times, typically averaging 30 days. Customers consistently rate them highly for their communication, efficiency, and competitive rates. Their team includes specialists in various loan types with particular strength in conventional and VA lending. With hundreds of positive reviews and a commitment to local community involvement, they've become one of the most trusted mortgage lenders serving the Carrollton area.
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Frequently Asked Questions
Common questions about mortgage lending in Carrollton, VA
Are there any special mortgage programs for first-time homebuyers in Carrollton, VA?
Yes, the Virginia Housing Development Authority (VHDA) offers several programs, such as the VHDA FHA and Conventional loans with down payment assistance grants, which are widely used in Carrollton. These programs can be particularly helpful given the area's proximity to major employers like the shipyards and military bases, where many first-time buyers work. Local lenders are very familiar with these programs and can guide you through the specific income and purchase price limits that apply in Isle of Wight County.
How do property taxes in Isle of Wight County impact my mortgage payments in Carrollton?
Isle of Wight County has a relatively low real estate tax rate compared to much of Hampton Roads, currently around $0.83 per $100 of assessed value. This favorable rate is a key consideration when calculating your total monthly mortgage payment (PITI). Your lender will use this rate to estimate and escrow your property taxes, which helps make homeownership in Carrollton more affordable compared to neighboring cities like Suffolk or Newport News.
What is the typical down payment needed for a home in Carrollton's market?
While 20% down is ideal to avoid mortgage insurance, many buyers in Carrollton utilize loans with 3%, 5%, or 10% down, especially with VHDA or conventional loan programs. Given the mix of historic homes, newer subdivisions, and waterfront properties, loan types and requirements can vary. For the popular conventional loan, a minimum of 5% down is common, but speaking with a local lender who understands the varied property types in Carrollton is crucial for accurate guidance.
Does living in a flood zone affect my mortgage process for a Carrollton home?
Absolutely. Many properties in Carrollton, especially those near the James River or its tributaries, are in designated flood zones. Your lender will require a flood elevation certificate and mandate flood insurance as a condition of the loan. This is a significant and non-negotiable added cost that must be factored into your monthly budget, and it can influence both the appraisal process and the overall affordability of a waterfront or near-water property.
How do local market conditions in Carrollton affect the mortgage appraisal process?
Carrollton's market is diverse, with comps ranging from modest ranch homes to high-value waterfront estates, which can make appraisals challenging. An appraiser familiar with Isle of Wight County is essential to properly value unique properties. In a competitive market, appraisal gaps—where the appraisal comes in below the offer price—can occur, so buyers should be prepared with additional cash or appraisal contingency strategies advised by their local loan officer.
Nearby Cities
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Why Choose a Mortgage Lender in Carrollton?
Local Market Knowledge
Lenders who understand Carrollton'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 Carrollton and get competitive rates on your home loan.