The Best Mortgage Lenders in Haymarket, VA
Compare verified mortgage lenders serving Haymarket, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Haymarket
Featured Mortgage Lenders
First Heritage Mortgage
First Heritage Mortgage, NMLS #1438
First Heritage Mortgage is a highly-rated regional lender with deep roots in Northern Virginia, consistently earning top marks for customer satisfaction and competitive rates. With over 30 years serving the Haymarket area, they specialize in first-time homebuyer programs, VA loans popular in the military-heavy Northern Virginia region, and jumbo loans for the area's higher-priced homes. Their local processing and underwriting teams provide personalized service and faster closings, making them a top choice for Haymarket residents seeking a smooth mortgage experience.
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George Mason Mortgage
George Mason Mortgage, LLC, NMLS #2348
As one of the most established mortgage lenders in Northern Virginia, George Mason Mortgage has built an exceptional reputation for reliability and local market expertise. They understand the unique dynamics of the Haymarket real estate market and offer specialized loan programs for the region's diverse homebuyer needs. Their long-standing relationships with local real estate professionals and deep knowledge of Prince William County make them particularly valuable for navigating competitive housing markets. Customers consistently praise their responsive communication and ability to close loans on time.
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Atlantic Coast Mortgage
Atlantic Coast Mortgage, LLC, NMLS #211316
Atlantic Coast Mortgage has rapidly become one of the highest-rated mortgage lenders serving the Haymarket area, known for exceptional customer service and competitive pricing. They offer a wide range of loan products specifically tailored to Northern Virginia's diverse housing needs, including specialized programs for the many military families and government employees in the region. Their local loan officers have extensive experience with Prince William County's unique market conditions and provide personalized guidance throughout the entire mortgage process, earning consistently outstanding reviews from Haymarket homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Haymarket, VA
What are the typical down payment requirements for homes in Haymarket, VA, given the higher-than-average home prices?
For Haymarket's competitive market, a 20% down payment is common to avoid private mortgage insurance (PMI) and strengthen your offer. However, many local lenders offer conventional loans with as little as 3-5% down, and FHA loans with 3.5% down, though these may be less competitive in multiple-offer situations. It's crucial to get pre-approved with a strong lender letter to show sellers you're a serious buyer.
Are there any special mortgage programs for first-time homebuyers in Prince William County that apply to Haymarket?
Yes, the Virginia Housing Development Authority (VHDA) offers several programs, like the VHDA FHA and Conventional loans, which provide competitive rates and down payment assistance grants for eligible buyers in Haymarket. Additionally, Prince William County's Office of Housing & Community Development may offer specific down payment/closing cost assistance programs for income-qualified first-time buyers purchasing within the county.
How do property taxes in Haymarket and Prince William County impact my mortgage payment and qualification?
Prince William County property taxes are a significant component of your monthly payment. The current rate is approximately $1.115 per $100 of assessed value. Your lender will calculate this into your debt-to-income ratio (DTI). For a $700,000 home, expect annual taxes around $7,800, adding roughly $650 to your monthly PITI payment, which directly affects how much home you can qualify for.
Does the prevalence of homeowners associations (HOAs) in Haymarket's newer communities affect the mortgage process?
Absolutely. Lenders will require a review of the HOA's covenants, fees, and financial health, as the HOA fee is included in your DTI calculation. High HOA fees can reduce your purchasing power. In Haymarket, where many neighborhoods like Dominion Valley have HOAs, ensure your lender obtains and reviews the HOA questionnaire early to avoid closing delays.
With Haymarket's proximity to data centers and continued growth, are appraisals a common challenge in the mortgage process here?
Appraisals can be challenging, especially for unique or newer construction homes where comparable sales ("comps") may be limited. Rapid appreciation in certain neighborhoods can also lead to appraisal gaps. Working with a local lender who uses appraisers familiar with the Haymarket, Gainesville, and Western Prince William County market is essential to ensure an accurate valuation that supports your contract price.
Why Choose a Mortgage Lender in Haymarket?
Local Market Knowledge
Lenders who understand Haymarket'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 Haymarket and get competitive rates on your home loan.