The Best Mortgage Lenders in Chesterfield, VA
Compare verified mortgage lenders serving Chesterfield, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Chesterfield
Featured Mortgage Lenders
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a highly-rated national lender with a strong local presence in the Richmond area, including Chesterfield. Known for its streamlined digital process and exceptional customer service, they consistently receive top marks for competitive rates and fast closings. Their "On-Time Closing Guarantee" and dedicated local loan officers make them a preferred choice for homebuyers in Central Virginia, with a reputation for reliability and transparency in mortgage lending.
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Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a reputable lender with deep roots in Virginia, serving Chesterfield and the Greater Richmond area. They are praised for their personalized service, extensive loan options, and competitive rates. With a focus on community involvement and education, their experienced team provides tailored solutions for various financial situations, earning high customer satisfaction scores for their responsiveness and expertise in local market conditions.
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Atlantic Bay Mortgage Group
Atlantic Bay Mortgage Group, LLC
Atlantic Bay Mortgage Group is a well-established regional lender that actively serves Chesterfield and throughout Virginia. Recognized for their customer-centric approach and efficient processing, they offer a wide range of mortgage products with competitive terms. Their strong local presence and commitment to client education have built a loyal customer base, with numerous reviews highlighting their professionalism, low rates, and smooth loan experiences from application to closing.
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Frequently Asked Questions
Common questions about mortgage lending in Chesterfield, VA
Are there any first-time homebuyer programs specific to Chesterfield County, VA that can help with down payment or closing costs?
Yes, the Virginia Housing Development Authority (VHDA) offers several statewide programs, like the VHDA Down Payment Assistance Grant, which are widely used in Chesterfield. Additionally, Chesterfield County itself administers the HOME Investment Partnerships Program, which provides down payment and closing cost assistance to eligible low-to-moderate income first-time buyers purchasing within the county. It's essential to work with a VHDA-approved lender to access these benefits.
How do property tax rates in Chesterfield County impact my monthly mortgage payment, and are there any exemptions?
Chesterfield County's property tax rate is currently $0.95 per $100 of assessed value, which is a key factor in calculating your escrow payment. Virginia also offers several exemptions that can lower this burden, such as the Disabled Veterans exemption. Your mortgage lender will incorporate the estimated annual tax into your monthly payment, so it's wise to budget for this significant local cost when determining how much house you can afford in Chesterfield.
What is the typical timeline for mortgage approval and closing on a home in Chesterfield's competitive market?
In Chesterfield's active market, a streamlined and fast mortgage process is crucial. While a typical timeline is 30-45 days from application to closing, getting fully pre-approved before you make an offer is strongly recommended to make your bid more competitive. Working with a local lender familiar with Virginia title laws and Chesterfield's specific appraisal districts can help avoid delays and ensure a smooth closing.
Are USDA rural development loans available for homes in Chesterfield County, VA?
Yes, significant portions of Chesterfield County, particularly areas south and west of the more densely populated central corridor, are still eligible for USDA Rural Development loans. This $0-down-payment program can be an excellent option for qualifying buyers looking in eligible zones like Moseley, Midlothian south of Route 60, or Chester. A lender can help you confirm a specific property's eligibility using the USDA's online mapping tool.
How do flood zones, particularly near the James River or Swift Creek, affect the mortgage process in Chesterfield?
Purchasing a home in a designated Special Flood Hazard Area (SFHA) in Chesterfield will require mandatory flood insurance as a condition of your mortgage loan. Lenders will order a Flood Zone Determination during processing. This additional insurance cost can impact your debt-to-income ratio and monthly payment, so it's critical to factor this in when considering properties in flood-prone areas like certain sections of the James River watershed.
Nearby Cities
Explore mortgage lenders in cities near Chesterfield, VA
Why Choose a Mortgage Lender in Chesterfield?
Local Market Knowledge
Lenders who understand Chesterfield'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 Chesterfield and get competitive rates on your home loan.