The Best Mortgage Lenders in Gloucester, VA
Compare verified mortgage lenders serving Gloucester, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Gloucester
Featured Mortgage Lenders
Atlantic Bay Mortgage Group
Atlantic Bay Mortgage Group, LLC
Atlantic Bay Mortgage Group is a top-rated lender serving Gloucester and the wider Hampton Roads region, renowned for its exceptional customer service and deep local market expertise. Founded in Virginia, they offer a wide range of loan products with competitive rates and have built a strong reputation for reliability and personalized guidance throughout the mortgage process. Their high customer satisfaction scores and extensive experience make them a trusted choice for homebuyers in the area.
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TowneBank
TowneBank
TowneBank is a highly regarded regional bank with a physical branch in Gloucester, providing personalized mortgage services and strong community ties. Known for their competitive rates and customer-focused approach, they offer a variety of loan options and have a track record of reliability and local expertise. Their long-standing presence and positive reviews highlight their commitment to helping residents achieve their homeownership goals with ease and confidence.
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Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a nationally recognized lender with a strong regional presence serving Gloucester, praised for its efficient loan processing and high customer satisfaction ratings. They specialize in a broad array of mortgage products and are known for their streamlined digital experience and dedicated local loan officers. Their commitment to community support and competitive financing options makes them a top choice for borrowers seeking reliable and responsive service.
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Frequently Asked Questions
Common questions about mortgage lending in Gloucester, VA
Are there any special mortgage or down payment assistance programs for first-time homebuyers in Gloucester, VA?
Yes, Gloucester County homebuyers can access statewide Virginia Housing (VHDA) programs, which offer competitive rates and down payment assistance grants. These programs are particularly valuable in Gloucester, where median home prices have been rising. It's also wise to check with local lenders about any county-specific or regional initiatives for the Middle Peninsula.
How does living in a coastal area like Gloucester affect my homeowners insurance and mortgage requirements?
While not directly on the ocean, Gloucester's proximity to the Chesapeake Bay and its many tributaries can place some properties in flood zones. Your lender will likely require a separate flood insurance policy if the home is in a designated Special Flood Hazard Area (SFHA), which can significantly impact your total monthly housing cost. Always verify the flood zone status during your due diligence.
What are typical closing costs for a mortgage in Gloucester County, and are there local taxes or fees I should know about?
Closing costs in Gloucester typically range from 2% to 5% of the loan amount. Key local costs include the Gloucester County recording fees and Virginia's state recordation tax. Unlike some Virginia cities, Gloucester does not have a separate city transfer tax, which can be a savings compared to buying in more urbanized areas.
How does the mix of rural and waterfront property in Gloucester influence the mortgage appraisal process?
Appraisals in Gloucester can be complex due to diverse property types—from rural land to historic homes to modern waterfront estates. For unique or remote properties, finding comparable sales ("comps") may take longer, potentially affecting your loan timeline. Using a local lender familiar with the Middle Peninsula market can help streamline this process.
Are USDA Rural Development loans available for homes in Gloucester, VA?
Yes, much of Gloucester County is eligible for USDA Rural Development loans, which offer 100% financing (no down payment). This is a significant advantage for eligible buyers, making homeownership more accessible in Gloucester's more rural sections. You can check the specific eligibility of an address on the USDA website.
Why Choose a Mortgage Lender in Gloucester?
Local Market Knowledge
Lenders who understand Gloucester'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 Gloucester and get competitive rates on your home loan.