The Best Mortgage Lenders in Drewryville, VA
Compare verified mortgage lenders serving Drewryville, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Drewryville
Featured Mortgage Lenders
TowneBank Mortgage
TowneBank
TowneBank Mortgage is a top-rated regional lender with a strong presence in Southampton County and surrounding areas, including Drewryville. Known for its community-focused approach, TowneBank offers personalized service and competitive rates, backed by over two decades of experience. Customers consistently praise their responsive loan officers, streamlined application process, and expertise in rural and suburban home financing. Their local branches ensure face-to-face support, making them a trusted choice for homebuyers in Southeast Virginia.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a highly-rated national lender with a robust local presence in Virginia, serving Drewryville and rural communities with efficiency and care. Founded in 2008, they are renowned for their "On the Move" closing process, which often results in faster approvals and competitive rates. With hundreds of positive reviews highlighting exceptional customer service and flexibility for various loan types, including VA and USDA loans popular in rural areas, Movement Mortgage combines technology with personal touch to simplify the homebuying journey.
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Atlantic Bay Mortgage Group
Atlantic Bay Mortgage Group, L.L.C.
Atlantic Bay Mortgage Group is a well-established lender with deep roots in Virginia, offering comprehensive mortgage services to Drewryville and the broader region. Since 1996, they have built a reputation for reliability, competitive pricing, and expert guidance, particularly for first-time homebuyers and rural properties. Their team of local loan officers provides tailored solutions, and high customer satisfaction scores reflect their commitment to transparent communication and smooth closings. Atlantic Bay's extensive experience with VA and USDA loans makes them ideal for the Drewryville area.
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Frequently Asked Questions
Common questions about mortgage lending in Drewryville, VA
What are the typical down payment requirements for homes in Drewryville, given its rural market?
In Drewryville's more affordable rural market, many conventional loans can be secured with a 5% down payment, and FHA loans with 3.5% down are common. However, for properties on larger lots or with acreage, some lenders may require a slightly higher down payment (10-20%) due to the unique nature of the collateral. It's essential to work with a lender experienced in rural Virginia properties.
Are there any special mortgage programs for first-time homebuyers in Southampton County that apply to Drewryville?
Yes, the Virginia Housing Down Payment Assistance Grant (DPA) is available statewide and can be a significant help in Drewryville. This program provides first-time buyers (or those who haven't owned a home in three years) with funds for down payment and closing costs that do not need to be repaid, making homeownership more accessible in the area's modest price range.
How does the lack of a formal city government in Drewryville impact the mortgage and closing process?
As an unincorporated community, Drewryville relies on Southampton County for services. This means property taxes are paid to the county, and there are no additional municipal taxes or specific city ordinances affecting property use that lenders need to verify. The title search and closing process will focus on county records, which can sometimes streamline certain aspects.
What should I know about well and septic inspections when getting a mortgage for a Drewryville home?
Most lenders will require a satisfactory water quality test and a functioning septic system inspection as a condition for mortgage approval on properties not connected to public utilities. This is a critical step in Drewryville, where many homes use private wells and septic systems. The cost for these inspections is typically the buyer's responsibility and must be completed by a licensed professional.
Are mortgage rates in Drewryville different from those in larger Virginia cities?
Mortgage rates are primarily set by national markets and your personal credit profile, not your specific town. Therefore, rates in Drewryville are generally consistent with those found in nearby areas like Emporia or Franklin. However, working with a local lender or credit union familiar with Southampton County can sometimes provide access to competitive portfolio loan products suited for rural properties.
Why Choose a Mortgage Lender in Drewryville?
Local Market Knowledge
Lenders who understand Drewryville'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 Drewryville and get competitive rates on your home loan.