The Best Mortgage Lenders in Herndon, VA
Compare verified mortgage lenders serving Herndon, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Herndon
Featured Mortgage Lenders
George Mason Mortgage
George Mason Mortgage, LLC
George Mason Mortgage is one of Northern Virginia's most trusted and highest-rated mortgage lenders, specializing in serving the Herndon and greater Fairfax County area. With deep local market expertise and 30 years of experience, they offer personalized service and competitive rates. Their strong reputation stems from exceptional customer service, local underwriting, and deep understanding of the Northern Virginia housing market. They consistently receive top marks for their efficient processing and knowledgeable loan officers who guide clients through every step of the mortgage process.
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Presidential Bank Mortgage
Presidential Bank, FSB
Presidential Bank has a strong physical presence in Herndon with their local branch and mortgage team, offering comprehensive lending services to the community. As a community-focused financial institution with decades of experience, they provide personalized mortgage solutions with local decision-making. Their Herndon-based loan officers have extensive knowledge of the local market and are known for their responsive service and competitive jumbo loan products. The bank maintains excellent customer satisfaction ratings for their transparent process and commitment to finding the right mortgage solution for each borrower.
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First Home Mortgage
First Home Mortgage Corporation
First Home Mortgage has a strong Northern Virginia presence with their Reston office conveniently serving Herndon homebuyers. With three decades of experience and exceptional customer reviews, they are known for their competitive rates and outstanding service. Their local loan officers have extensive expertise in the Herndon market and provide personalized guidance through the entire mortgage process. The company receives consistent praise for their responsive communication, streamlined application process, and ability to close loans efficiently while maintaining the highest standards of customer care.
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Frequently Asked Questions
Common questions about mortgage lending in Herndon, VA
What are the typical down payment requirements for a home in Herndon, given its competitive market?
In Herndon's competitive Northern Virginia market, a 20% down payment is common to make offers more attractive and avoid private mortgage insurance (PMI). However, many local lenders offer conventional loans with as little as 3-5% down, and FHA loans with 3.5% down are also available, though they may be less competitive in multiple-offer situations common in Herndon.
Are there any special first-time homebuyer programs or grants available specifically in Herndon, VA?
Yes, Herndon homebuyers can access several Virginia state programs like the VHDA (Virginia Housing Development Authority) loans, which offer competitive rates and down payment assistance grants. Additionally, the Town of Herndon itself does not currently offer a unique program, but neighboring Fairfax County has the "Homeownership Program" for income-eligible buyers, which is accessible to Herndon residents.
How do property taxes in Herndon impact my mortgage payment and affordability?
Herndon has a combined property tax rate of approximately $1.085 per $100 of assessed value, which includes Fairfax County and Town of Herndon rates. This is a critical factor in your total monthly payment (PITI). For a $600,000 home, annual taxes would be around $6,510, adding roughly $543 to your monthly mortgage escrow payment.
With Herndon's proximity to Dulles Airport and tech corridors, do lenders have specific appraisal or insurance considerations?
Yes, lenders may require additional scrutiny for homes directly under flight paths near Dulles, which could affect appraisals due to noise. Furthermore, Herndon's location in a high-cost area means lenders will ensure you have adequate homeowners insurance, including coverage for common local issues like wind or sewer backup, which can influence your closing costs and escrow requirements.
What type of mortgage rates can I expect in Herndon compared to national averages, and why?
Mortgage rates in Herndon are generally aligned with national averages but can be slightly more favorable due to Virginia's strong lending market and high borrower credit profiles. However, your specific rate will depend heavily on your financials; excellent credit is particularly important here to secure the best terms in this affluent and competitive suburban market.
Why Choose a Mortgage Lender in Herndon?
Local Market Knowledge
Lenders who understand Herndon'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 Herndon and get competitive rates on your home loan.