The Best Mortgage Lenders in Cheriton, VA
Compare verified mortgage lenders serving Cheriton, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Cheriton
Featured Mortgage Lenders
Atlantic Bay Mortgage Group
Atlantic Bay Mortgage Group
Atlantic Bay Mortgage Group is a top-rated regional lender with a strong presence in Virginia, including the Eastern Shore where Cheriton is located. Founded in 1998, they are renowned for their exceptional customer service, competitive mortgage rates, and efficient loan processing. With hundreds of positive reviews, they specialize in a wide range of loan products and have a reputation for personalized guidance and local expertise, making them a trusted choice for homebuyers in rural and coastal areas.
Loan Types:
Movement Mortgage
Movement Mortgage
Movement Mortgage is a highly-regarded national lender with a significant local footprint in Virginia, serving communities like Cheriton on the Eastern Shore. Established in 2008, they are praised for their innovative digital tools, competitive rates, and commitment to community engagement. With a focus on customer satisfaction, they offer a diverse portfolio of loan options and have consistently high ratings for their responsive service and support throughout the mortgage process.
Loan Types:
Guaranteed Rate
Guaranteed Rate
Guaranteed Rate is a leading digital mortgage lender with a strong reputation for excellence and a wide service area that includes Cheriton, Virginia. Founded in 2000, they combine advanced technology with local expertise to offer competitive rates and a seamless borrowing experience. Known for their high customer satisfaction scores, they provide a variety of loan products and have a track record of reliability and transparency, making them a top choice for homebuyers in the region.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Cheriton, VA
What are the current mortgage rates like in Cheriton, VA, and how do they compare to the national average?
Mortgage rates in Cheriton are generally aligned with national averages, but local lenders may offer competitive terms due to the area's stable, rural market. It's wise to compare rates from both local Eastern Shore banks and larger national lenders, as the competitive landscape can sometimes yield slightly better terms for well-qualified buyers in this specific market.
Are there any down payment assistance or first-time homebuyer programs specifically for Cheriton residents?
Yes, Cheriton homebuyers can access the Virginia Housing Down Payment Assistance Grant (DPA) and other VHDA loan programs, which are available statewide. Additionally, it's worth consulting with local lenders about any specific programs or grants for the Eastern Shore region that might offer favorable terms for purchasing in Northampton County, where Cheriton is located.
How does the rural and coastal location of Cheriton affect the mortgage process, like appraisals or insurance?
The rural setting can mean a smaller pool of comparable home sales, which may require an appraiser with specific local expertise, potentially affecting timing and valuation. Furthermore, due to Cheriton's proximity to the Chesapeake Bay, lenders will require flood insurance if the property is in a designated flood zone, which is a critical and mandatory cost to factor into your budget.
What type of property issues should I be aware of that might affect financing for an older home in Cheriton?
Many homes in Cheriton have historic charm but may be older, so lenders will require inspections to ensure the property meets minimum standards. Particular attention should be paid to foundations, septic systems (common in rural areas), and older roofs, as issues here could delay closing until repairs are made or could affect the loan's underwriting approval.
Is it difficult to get a USDA Rural Development loan in Cheriton, VA?
Not at all. Cheriton is located in an area that is almost certainly eligible for USDA loans, which offer 100% financing with no down payment. This is one of the most advantageous loan programs for eligible buyers in Cheriton, given its designation as a rural area, making homeownership more accessible for moderate-income households.
Why Choose a Mortgage Lender in Cheriton?
Local Market Knowledge
Lenders who understand Cheriton'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 Cheriton and get competitive rates on your home loan.