The Best Mortgage Lenders in Craigsville, VA
Compare verified mortgage lenders serving Craigsville, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Craigsville
Featured Mortgage Lenders
First Union Mortgage
First Union Mortgage
First Union Mortgage is a highly-rated regional lender with extensive experience serving rural Virginia communities like Craigsville. They specialize in USDA loans which are particularly valuable for homebuyers in more rural areas, and they have built a strong reputation for personalized service and competitive rates. Their team has deep knowledge of the Shenandoah Valley market and offers a wide range of loan products with exceptional customer service ratings across multiple review platforms.
Loan Types:
Member One Federal Credit Union
Member One Federal Credit Union
As a established credit union serving multiple counties in western Virginia, Member One has strong community ties and offers competitive mortgage rates to members. They have particular expertise with first-time homebuyer programs and USDA rural development loans that are ideal for Craigsville area properties. Their local loan officers provide personalized guidance throughout the entire mortgage process, and they consistently receive high marks for customer satisfaction and transparent lending practices.
Loan Types:
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation - Staunton Branch
Fairway Independent Mortgage has a strong local presence in the Shenandoah Valley with a branch in nearby Staunton that actively serves the Craigsville area. They are consistently ranked among the top mortgage lenders nationally and maintain excellent local customer reviews for their responsive service and competitive rates. Their loan officers have extensive experience with rural property financing and offer a comprehensive range of loan options with efficient processing and closing timelines.
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Frequently Asked Questions
Common questions about mortgage lending in Craigsville, VA
What are the current mortgage rates like in Craigsville, VA, and how do they compare to state averages?
Mortgage rates in Craigsville are generally very competitive and often align with or slightly beat the Virginia state average due to the area's lower cost of living and stable market. Local lenders and credit unions, such as those based in nearby Staunton, often offer attractive rates. It's advisable to get quotes from both local institutions and national lenders to secure the best deal for your specific financial situation.
Are there any special first-time homebuyer programs available specifically for Craigsville residents?
Yes, Craigsville homebuyers can access the Virginia Housing Down Payment Assistance Grant (DPA), which provides funds that do not need to be repaid. Additionally, the Town of Craigsville may have occasional local incentives, and buyers should check with the Augusta County or regional housing authorities. Working with a lender experienced in these state-wide programs is key to navigating the application process successfully.
How does the appraisal process work in Craigsville given its rural setting and mix of property types?
Appraisals in Craigsville require appraisers familiar with the Shenandoah Valley's rural and semi-rural markets, where comparable sales ("comps") may be fewer and farther between than in urban areas. Unique properties, like those with acreage or older homes, need an appraiser who understands their value in this specific locale. Delays can occur, so it's wise to build extra time into your contract contingency period.
What should I know about property taxes and insurance when calculating my monthly mortgage payment in Craigsville?
Your mortgage payment will include escrow for Augusta County property taxes, which are relatively moderate. A key consideration is flood insurance; while not universally required, some properties near the Cowpasture River or Craigsville Creek may be in a FEMA flood zone, necessitating an additional policy. Your lender will help determine this during the appraisal and underwriting process.
Are USDA Rural Development loans a common and viable option for mortgages in Craigsville, VA?
Absolutely. Craigsville's location makes many homes in the area eligible for USDA loans, which offer 100% financing with no down payment—a significant advantage. This is one of the most popular loan programs in the region for eligible buyers and properties. You'll need to work with a USDA-approved lender and ensure both your income and the specific property meet the program's requirements.
Nearby Cities
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Why Choose a Mortgage Lender in Craigsville?
Local Market Knowledge
Lenders who understand Craigsville'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 Craigsville and get competitive rates on your home loan.