The Best Mortgage Lenders in Harrisonburg, VA
Compare verified mortgage lenders serving Harrisonburg, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Harrisonburg
Featured Mortgage Lenders
NewMarket Federal Credit Union Mortgage Department
NewMarket Federal Credit Union
As Harrisonburg's premier local financial institution, NewMarket Federal Credit Union has built an exceptional reputation for mortgage lending in the Shenandoah Valley. They consistently receive outstanding reviews for their personalized service, competitive rates, and deep community involvement. Their mortgage team specializes in helping first-time homebuyers navigate the process while offering a comprehensive range of loan products. Members praise their responsive communication and ability to close loans efficiently, making them a top choice for Harrisonburg residents seeking a trusted local mortgage partner.
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Virginia Credit Union Mortgage Services
Virginia Credit Union
Virginia Credit Union has established itself as one of the top mortgage lenders serving the Harrisonburg market with consistently high customer satisfaction ratings. While headquartered in Richmond, they maintain strong statewide presence and specialize in serving Virginia communities. Their digital mortgage application process receives particular praise for being user-friendly and efficient. Customers highlight the expertise of their loan officers, competitive interest rates, and smooth closing processes. They offer specialized programs for healthcare professionals and educators, which serves Harrisonburg's significant university and medical community well.
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Cardinal Financial Mortgage
Cardinal Financial Company, Limited Partnership
Cardinal Financial has earned strong recognition as a top national mortgage lender with excellent service in the Harrisonburg area. They receive consistently high marks for their competitive rates, wide range of loan products, and efficient online application system. Their local loan officers have deep knowledge of the Harrisonburg real estate market and Virginia-specific lending requirements. Customers frequently mention the company's responsiveness and ability to handle complex loan scenarios. With over two decades of experience, they've built a reputation for reliability and customer-focused service that makes them a preferred choice for many Harrisonburg homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Harrisonburg, VA
Are there any special first-time homebuyer programs available in Harrisonburg, VA?
Yes, the Virginia Housing Development Authority (VHDA) offers several programs popular in Harrisonburg, such as the VHDA FHA and Conventional loans with down payment assistance grants. Additionally, the City of Harrisonburg itself administers the Harrisonburg Homeownership Assistance Program (HHAP), which provides forgivable loans for down payment and closing costs to income-eligible buyers purchasing within city limits.
How does the presence of James Madison University (JMU) affect the mortgage and housing market in Harrisonburg?
JMU creates a strong, stable rental market, making investment properties and multi-family homes attractive to some buyers. For primary residences, competition can be higher for single-family homes in popular neighborhoods near campus, potentially impacting offer strategies and appraisal values. Lenders in the area are very familiar with underwriting loans for both university employees and for investment properties catering to the student population.
What are typical property taxes like in Harrisonburg, and how do they impact my mortgage payment?
Harrisonburg has a combined city property tax rate of $0.86 per $100 of assessed value (for 2024), which is relatively moderate for Virginia. For a $300,000 home, this translates to about $2,580 annually, or $215 added to your monthly mortgage escrow payment. It's important to factor this into your overall budget, as taxes can vary slightly between the city and surrounding Rockingham County.
Are USDA Rural Development loans a viable option for homes in Harrisonburg, VA?
Absolutely. While Harrisonburg is a city, many areas in the immediate surrounding zip codes and parts of Rockingham County are eligible for USDA loans, which offer 100% financing. Specific neighborhoods on the city's fringes may qualify, so it's crucial to check the USDA eligibility map with a local lender who can identify qualifying properties, making homeownership more accessible with no down payment.
How competitive is the Harrisonburg housing market, and what should I know about making a strong offer from a mortgage perspective?
The market remains competitive, especially for well-priced homes. From a mortgage standpoint, getting a strong pre-approval (not just pre-qualification) from a reputable local lender is essential to make your offer stand out. Sellers often favor offers with local lenders who understand the market. Be prepared for potential appraisal gaps and discuss strategies like an appraisal contingency waiver with your loan officer, based on your financial situation.
Nearby Cities
Explore mortgage lenders in cities near Harrisonburg, VA
Why Choose a Mortgage Lender in Harrisonburg?
Local Market Knowledge
Lenders who understand Harrisonburg'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 Harrisonburg and get competitive rates on your home loan.