The Best Mortgage Lenders in Eagle Rock, VA
Compare verified mortgage lenders serving Eagle Rock, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Eagle Rock
Featured Mortgage Lenders
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a top-rated national lender with a strong local presence in the Roanoke Valley, serving Eagle Rock residents with exceptional efficiency and customer service. Known for their "More Yes" approach, they offer competitive rates, fast closings (often in 30 days or less), and a wide range of loan products. Their high ratings stem from personalized service, transparency, and dedicated local loan officers who understand the Virginia market, making them a preferred choice for homebuyers in the region.
Loan Types:
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation has built a stellar reputation in Virginia for over two decades, with a dedicated Roanoke office serving Eagle Rock and surrounding areas. They are praised for their competitive rates, extensive loan options, and exceptional customer support, often highlighted in reviews for making the mortgage process smooth and stress-free. Their long-standing community involvement and high customer satisfaction scores make them a reliable choice for first-time homebuyers and refinancers alike.
Loan Types:
New American Funding
New American Funding
New American Funding is a highly-rated national lender with a strong local footprint in Roanoke, providing tailored mortgage solutions to Eagle Rock residents. They excel in offering diverse loan programs, including options for low-to-moderate income borrowers, and are known for their responsive service and competitive rates. With a focus on technology and customer education, they have consistently high reviews for transparency and support throughout the home buying process, making them a trusted partner in the Virginia housing market.
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Frequently Asked Questions
Common questions about mortgage lending in Eagle Rock, VA
Are there any special mortgage programs for first-time homebuyers in Eagle Rock, VA?
Yes, the Virginia Housing Development Authority (VHDA) offers several programs, like the VHDA FHA and Conventional loans with down payment assistance, which are accessible to Eagle Rock buyers. These programs often feature competitive interest rates and can be combined with VHDA's Closing Cost Assistance Grant, which is particularly helpful given the rural nature of Botetourt County. A local lender familiar with VHDA guidelines is essential to navigate these options successfully.
How do property types common in Eagle Rock, like larger lots or older farmhouses, affect the mortgage process?
Unique or rural properties can require specific appraisals and inspections, potentially affecting loan approval and timeline. Lenders may have stricter requirements for properties with wells and septic systems, which are common in Eagle Rock. It's crucial to work with a mortgage broker experienced in rural properties to ensure the home meets all loan program criteria, such as those from USDA loans which are relevant here.
What is the availability and benefit of USDA loans in Eagle Rock, VA?
USDA Rural Development loans are highly relevant for Eagle Rock, as much of Botetourt County is eligible for this $0-down-payment program. This can be a major advantage for buyers looking at the area's more rural properties. To qualify, borrowers must meet income limits and the home must be in an eligible zone, so verifying the specific property's eligibility with a lender is a critical first step.
How do local property tax rates in Botetourt County impact my monthly mortgage payment?
Botetourt County's property tax rate is a key component of your monthly escrow payment. The county's current rate is $0.82 per $100 of assessed value, which is relatively moderate for Virginia. Your lender will calculate an estimated monthly tax portion based on the home's assessed value, which is important for budgeting, especially when comparing homes in different jurisdictions.
Are mortgage rates typically different in Eagle Rock compared to larger Virginia cities like Roanoke?
Mortgage rates are generally set nationally, so you won't see a geographic rate difference for Eagle Rock specifically. However, your final rate is personalized based on credit, loan type, and down payment. Working with a local lender who understands the Eagle Rock market can provide access to the best available programs and ensure a smooth process, which is valuable in a more rural transaction.
Nearby Cities
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Why Choose a Mortgage Lender in Eagle Rock?
Local Market Knowledge
Lenders who understand Eagle Rock'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 Eagle Rock and get competitive rates on your home loan.