The Best Mortgage Lenders in Carrsville, VA
Compare verified mortgage lenders serving Carrsville, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Carrsville
Featured Mortgage Lenders
Atlantic Bay Mortgage Group
Atlantic Bay Mortgage Group, LLC
Atlantic Bay Mortgage Group is a top-rated lender with deep roots in the Hampton Roads region, serving Carrsville and surrounding areas since 1996. Known for exceptional customer service, competitive rates, and personalized mortgage solutions, they have consistently high ratings for their reliability, local expertise, and efficient loan processing. Their extensive experience and strong community presence make them a preferred choice for homebuyers seeking conventional, FHA, VA, and USDA loans.
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TowneBank Mortgage
TowneBank
TowneBank is a well-established regional bank with a strong mortgage division that serves Carrsville and the broader Southeastern Virginia area. Founded in 1999, they are praised for their community-focused approach, competitive lending rates, and expertise in handling both urban and rural properties. With a reputation for transparency and customer satisfaction, they offer a wide range of loan products and have a dedicated local team for personalized service.
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Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a highly regarded national lender with a strong local presence in Virginia, including service to Carrsville. Founded in 2008, they are known for their efficient loan processing, responsive customer support, and competitive rates. With a focus on simplicity and speed, they excel in providing various mortgage options and have earned high ratings for their reliability and ability to handle diverse financing needs, making them a trusted option for homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Carrsville, VA
Are there any special mortgage programs for first-time homebuyers in Carrsville, Virginia?
Yes, Carrsville homebuyers can access the Virginia Housing Development Authority (VHDA) programs, which are popular throughout Isle of Wight County. These include low-interest rate loans, down payment assistance grants, and the VHDA FHA and Conventional loans with more flexible credit requirements. It's advisable to work with a local lender familiar with these state-wide programs to navigate the application process for a Carrsville purchase.
How do property taxes in Isle of Wight County affect my mortgage payments in Carrsville?
Isle of Wight County property taxes are relatively moderate compared to urban areas in Virginia, which can make monthly payments more manageable. For 2023, the county's real estate tax rate is $0.83 per $100 of assessed value. Your lender will calculate an estimated monthly escrow payment for these taxes, which is included in your total mortgage payment, so it's important to budget for this local cost.
What are typical down payment requirements for homes in Carrsville's rural market?
While 20% down is standard to avoid private mortgage insurance (PMI), many buyers in Carrsville utilize loans with lower requirements due to the area's affordable home prices. FHA loans can require as little as 3.5% down, and USDA loans are a notable option for this designated rural area, offering 0% down payment for eligible borrowers and properties, which is a significant advantage for the local market.
Does Carrsville's location in a flood zone affect my mortgage process?
Given Carrsville's proximity to the Blackwater River and its generally flat terrain, some properties may be in designated flood zones. Your lender will require a flood certification, and if the home is in a Special Flood Hazard Area, you will be mandated to purchase flood insurance as a condition of the mortgage. This is a crucial and common cost factor to investigate early in the home-buying process here.
Are local credit unions or community banks in the Carrsville area competitive for mortgages?
Yes, using a local institution like TowneBank or a local credit union can be advantageous. These lenders often have deep knowledge of the Carrsville and Isle of Wight County property market and may offer personalized service. They might also have special relationship discounts or portfolio loan products that larger national banks do not offer, which can be beneficial for unique property situations common in a rural community.
Why Choose a Mortgage Lender in Carrsville?
Local Market Knowledge
Lenders who understand Carrsville'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 Carrsville and get competitive rates on your home loan.