The Best Mortgage Lenders in Henrico, VA
Compare verified mortgage lenders serving Henrico, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Henrico
Featured Mortgage Lenders
Movement Mortgage
Movement Mortgage
Movement Mortgage has established itself as one of the top-rated mortgage lenders serving the Henrico area with exceptional customer satisfaction ratings. As a direct lender with strong local presence in the Richmond metropolitan area, they offer competitive rates and streamlined digital processes. Their team specializes in first-time homebuyer programs, VA loans (important for the military community in the region), and quick closing timelines. With hundreds of excellent reviews highlighting their responsive communication and expertise, they've built a reputation for making the mortgage process efficient and transparent for Henrico County residents.
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Atlantic Bay Mortgage Group
Atlantic Bay Mortgage Group
Atlantic Bay Mortgage Group has been serving Virginia homeowners for over 25 years with multiple office locations throughout the Richmond-Henrico area. They consistently receive high marks for their personalized service and competitive rate offerings. As a mortgage broker with access to multiple lenders, they can shop rates on behalf of Henrico homebuyers to find optimal loan terms. Their local loan officers have extensive knowledge of the Henrico real estate market and specialize in both purchase and refinance transactions. The company maintains an A+ BBB rating and is particularly noted for their expertise with VA and FHA loans in the military-friendly Virginia market.
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Virginia Credit Union
Virginia Credit Union
Virginia Credit Union has been serving central Virginia residents for over eight decades with multiple branches throughout Henrico County and the Greater Richmond area. As a member-owned financial cooperative, they offer competitive mortgage rates and lower fees than many traditional banks. Their mortgage team provides personalized guidance through the entire home financing process, with particular strength in first-time homebuyer programs and local market expertise. VACU consistently receives high customer satisfaction ratings for their responsive service and community-focused approach. They offer special benefits for members including rate discounts and flexible underwriting guidelines tailored to Virginia homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Henrico, VA
Are there any special first-time homebuyer programs available specifically for Henrico County, VA?
Yes, the Virginia Housing Development Authority (VHDA) offers statewide programs, but Henrico County also has its own local initiative called the "Henrico Homeownership Program." This program provides down payment and closing cost assistance in the form of a deferred, forgivable loan for eligible first-time buyers purchasing within the county, which can be a crucial help in a competitive market.
How do property tax rates in Henrico County affect my monthly mortgage payment?
Henrico County has a property tax rate of $0.87 per $100 of assessed value, which is relatively competitive within the Richmond metro area. Your lender will establish an escrow account as part of your monthly mortgage payment to cover these taxes and your homeowner's insurance, so it's important to budget for this added cost, which can be several hundred dollars per month on top of your principal and interest.
What is a typical down payment percentage needed for a home in Henrico's current market?
While 20% down is ideal to avoid private mortgage insurance (PMI), many buyers in Henrico successfully purchase with 3%, 5%, or 10% down using conventional loans, or 3.5% with an FHA loan. In a competitive seller's market, a higher down payment can make your offer more attractive, but various loan programs exist to help with lower initial investments.
Does Henrico County's location in a flood zone impact my mortgage and insurance requirements?
Certain areas of Henrico, particularly near the James River or other waterways, are in designated flood zones. If your prospective home is in a Special Flood Hazard Area (SFHA), your mortgage lender will require you to purchase flood insurance as a condition of the loan, which is a separate and mandatory cost in addition to standard homeowner's insurance.
Are there specific mortgage lenders or credit unions in Henrico that have expertise with local market conditions?
Yes, working with a local lender familiar with Henrico can be advantageous. Institutions like Virginia Credit Union, Call Federal Credit Union, and local branches of national banks have loan officers who understand neighborhood-specific trends, can quickly work with local appraisers, and are knowledgeable about county-specific programs and closing procedures, which can streamline the process.
Why Choose a Mortgage Lender in Henrico?
Local Market Knowledge
Lenders who understand Henrico'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 Henrico and get competitive rates on your home loan.