The Best Mortgage Lenders in Emory, VA
Compare verified mortgage lenders serving Emory, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Emory
Featured Mortgage Lenders
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a top-rated national lender with a strong presence in Virginia, known for its competitive rates and exceptional customer service. They specialize in a wide range of loan products, including government-backed options like VA and USDA loans, which are popular in rural areas like Emory. With over 16 years of experience, they have built a reputation for quick closings and personalized service, supported by high customer satisfaction ratings and numerous positive reviews highlighting their responsiveness and expertise in the Virginia market.
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New American Funding
New American Funding
New American Funding is a highly regarded mortgage lender with a national footprint and a focus on serving diverse communities, including rural areas in Virginia. They offer competitive rates and a variety of loan types, with special programs for first-time homebuyers and those seeking VA or USDA loans. Founded in 2003, they have over two decades of experience and are praised for their customer-centric approach, transparency, and efficient processing. Their high review counts and ratings reflect strong client satisfaction and reliability in the Emory area.
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Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a leading mortgage lender with a robust presence in Virginia, offering innovative digital tools and personalized service for homebuyers in Emory and surrounding regions. With 24 years of experience, they provide a comprehensive suite of loan options, including VA and USDA loans suited for the area. They are known for their competitive rates, fast approvals, and high customer satisfaction, backed by numerous positive reviews emphasizing their professionalism and ease of use. Their commitment to technology and local expertise makes them a reliable choice for mortgages in Southwest Virginia.
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Frequently Asked Questions
Common questions about mortgage lending in Emory, VA
What are the typical down payment requirements for homes in Emory, VA, and are there local programs to assist with this?
In Emory, typical down payments range from 3% for conventional loans to 3.5% for FHA loans, but many local and state programs can help. The Virginia Housing Down Payment Assistance Grant (DPA) is a key resource for eligible buyers in Emory, offering up to 2.5% of the home's purchase price as a non-repayable grant. Working with a lender familiar with these programs is crucial to navigate the options available in Washington County.
How do property taxes in Emory, VA, impact my monthly mortgage payment?
Washington County, where Emory is located, has a relatively low property tax rate compared to more urban areas of Virginia, which can make homeownership more affordable. For 2023, the county's effective tax rate is approximately $0.70 per $100 of assessed value. Your lender will include an estimated monthly amount for property taxes in your mortgage escrow payment, and it's wise to confirm the exact assessment with the Washington County Commissioner of Revenue.
Are USDA Rural Development loans a viable option for buying a home in Emory, VA?
Yes, absolutely. Emory's location qualifies it for USDA Rural Development loans, which offer 100% financing (no down payment) for eligible buyers with moderate incomes. This is a highly attractive program for the area, as it directly supports homeownership in this designated rural community. Income limits apply, but many local households in Emory and Washington County find they qualify for this beneficial program.
What should I know about well and septic system inspections when getting a mortgage in Emory?
Since many properties in Emory are not connected to municipal water and sewer, mortgage lenders will require a satisfactory well water test and septic system inspection for loan approval. These are critical addendums to the sales contract and are typically the buyer's responsibility and expense. Using a local inspector familiar with the geology and regulations of Washington County is essential to avoid last-minute loan delays.
Are mortgage rates in Emory, VA, different from the national average, and what local factors influence them?
Mortgage rates in Emory generally follow national trends but can be influenced by local market competition and property types. Due to the rural nature and lower population density, there may be slightly fewer local lender branches, but online and regional lenders are readily accessible. Your specific rate will depend more on your credit profile and loan type; however, the lower property values in Emory can sometimes allow for more flexible loan-to-value ratios, which may positively influence your terms.
Nearby Cities
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Why Choose a Mortgage Lender in Emory?
Local Market Knowledge
Lenders who understand Emory'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 Emory and get competitive rates on your home loan.