The Best Mortgage Lenders in Fries, VA
Compare verified mortgage lenders serving Fries, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Fries
Featured Mortgage Lenders
Atlantic Bay Mortgage Group
Atlantic Bay Mortgage Group, LLC
Atlantic Bay Mortgage Group is a top-rated lender known for its exceptional customer service and competitive rates, with a strong presence in Virginia including rural areas like Fries. Founded in 1996, they have built a reputation for reliability and personalized service, offering a wide range of loan options. Their high ratings stem from efficient processing, local expertise, and a commitment to community involvement, making them a trusted choice for homebuyers in Southwest Virginia.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a highly regarded national lender with a significant footprint in Virginia, including service to Fries. Known for its fast closings and competitive rates, the company emphasizes customer satisfaction and community support. With over a decade of experience, they offer streamlined digital processes and local loan officers who understand the regional market, earning them consistently high reviews for transparency and support throughout the mortgage process.
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New American Funding
New American Funding, LLC
New American Funding is a reputable lender serving Virginia with a focus on diverse loan products and inclusive lending practices. They are praised for their competitive rates, especially for first-time and minority homebuyers, and have a strong track record in rural areas like Fries. Founded in 2003, they combine technology with personalized service, resulting in high customer satisfaction ratings for their responsive support and educational resources.
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Frequently Asked Questions
Common questions about mortgage lending in Fries, VA
What are the typical mortgage rates for a home in Fries, VA, and how do they compare to state averages?
Mortgage rates in Fries are generally in line with national and Virginia averages, but local lenders may offer competitive terms due to the smaller market. For accurate, real-time rates, it's best to consult directly with regional banks or credit unions serving Grayson County, as they often have strong community lending programs. Rates can be influenced by property type, especially given the mix of riverfront properties and more rural homes in the area.
Are there any special loan programs for buying a historic or older home in Fries?
Yes, given Fries's historic mill town character with many older homes, buyers should explore renovation loans like the FHA 203(k) or the VA Renovation Loan if eligible. These programs allow you to finance both the purchase price and the cost of renovations into one mortgage. It's also wise to work with a local lender familiar with the specific appraisal challenges and preservation considerations for properties in this historic district.
What should I know about property taxes and insurance when calculating my mortgage payment in Fries?
Grayson County, which includes Fries, has relatively low property tax rates compared to more urban parts of Virginia, which can make homeownership more affordable. However, due to the town's location along the New River, flood insurance is a critical and often mandatory consideration for many properties, which can significantly impact your total monthly payment. Always request a flood zone determination early in the process.
Are there down payment assistance programs available for first-time homebuyers in Fries?
First-time homebuyers in Fries may qualify for the Virginia Housing Down Payment Assistance Grant, which provides funds that do not need to be repaid. Eligibility depends on income limits and the purchase price of the home, which in Fries is often below state averages. Working with a mortgage lender approved by Virginia Housing is essential to access these and any potential local community development programs.
How does the appraisal process work for a unique or rural property in Fries?
Appraisals in Fries can be more complex due to the limited number of recent comparable sales ("comps") for unique riverfront parcels or very rural homes. Lenders often need to use appraisers familiar with a wider geographic area within Grayson County or even neighboring counties. This process may take longer, so it's important to build extra time into your contract closing timeline and be prepared for potential valuation challenges.
Why Choose a Mortgage Lender in Fries?
Local Market Knowledge
Lenders who understand Fries'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 Fries and get competitive rates on your home loan.