The Best Mortgage Lenders in Glen Allen, VA
Compare verified mortgage lenders serving Glen Allen, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Glen Allen
Featured Mortgage Lenders
First Heritage Mortgage
First Heritage Mortgage, LLC
First Heritage Mortgage is a top-rated local lender with over two decades of experience serving Glen Allen and the greater Richmond area. They are renowned for their personalized customer service, competitive rates, and deep community involvement. With a wide range of loan products and a commitment to transparency, they have built a strong reputation for guiding clients through the mortgage process efficiently, earning high praise from homeowners and real estate professionals alike.
Loan Types:
Movement Mortgage
Movement Mortgage, Inc.
Movement Mortgage is a highly regarded national lender with a robust local presence in the Richmond metropolitan area, including Glen Allen. Known for their streamlined loan processing and exceptional customer support, they offer competitive rates and a variety of mortgage options. Their dedication to quick closings and community engagement has resulted in numerous positive reviews, making them a trusted choice for homebuyers in the region.
Loan Types:
New American Funding
New American Funding, LLC
New American Funding is a reputable mortgage lender with a strong track record of serving Glen Allen and surrounding areas. They provide a comprehensive suite of loan products tailored to diverse needs, backed by a focus on customer education and satisfaction. Their local team offers personalized service and competitive financing solutions, contributing to their high customer ratings and reliability in the Virginia mortgage market.
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Frequently Asked Questions
Common questions about mortgage lending in Glen Allen, VA
Are there any first-time homebuyer programs specific to Glen Allen, VA, that can help with down payments?
Yes, Glen Allen homebuyers can access the Virginia Housing Down Payment Assistance Grant (DPAG), which provides up to 2.5% of the loan amount for down payment and closing costs. This is a statewide program, but it's particularly valuable in Glen Allen's competitive market. Additionally, some local lenders partner with Virginia Housing to offer special rates and grants for qualifying buyers in Henrico County.
How do Glen Allen's property taxes affect my mortgage payment and qualification?
Glen Allen is located in Henrico County, which has a relatively low real estate tax rate of $0.87 per $100 of assessed value. This is a key factor in keeping total monthly payments manageable compared to other regions. Your lender will calculate these taxes into your debt-to-income ratio, and the favorable rate can help you qualify for a slightly higher loan amount.
What are typical mortgage rates offered by local lenders in Glen Allen, and how do they compare?
Mortgage rates in Glen Allen are competitive with national averages but can vary between local community banks, credit unions, and national lenders. Local institutions like Virginia Credit Union or Atlantic Union Bank often have strong community programs. It's advisable to get quotes from at least one local and one national lender, as local lenders may have better insight into the specific Henrico County appraisal process.
Does Glen Allen's location in a flood zone affect the mortgage process?
Certain neighborhoods in Glen Allen, particularly those near the Chickahominy River or other waterways, may require flood insurance as a condition of your mortgage. Your lender will order a flood zone determination during processing. If the home is in a Special Flood Hazard Area (SFHA), you must purchase flood insurance, which will be escrowed into your monthly payment.
Are there specific loan programs in Glen Allen that are beneficial for buying in a planned community like Short Pump?
Yes, for buying in well-established planned communities like Short Pump, many lenders are familiar with the consistent property values and homeowners association (HOA) structures. They may offer conventional loans with favorable terms for these properties. Be prepared to account for HOA fees in your debt-to-income ratio, which lenders will verify and include in your qualification calculations.
Nearby Cities
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Why Choose a Mortgage Lender in Glen Allen?
Local Market Knowledge
Lenders who understand Glen Allen'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 Glen Allen and get competitive rates on your home loan.