The Best Mortgage Lenders in Hume, VA
Compare verified mortgage lenders serving Hume, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Hume
Featured Mortgage Lenders
First Heritage Mortgage
First Heritage Mortgage
First Heritage Mortgage is a highly-rated local mortgage lender with a strong presence in Fauquier County, serving Hume and surrounding communities. With exceptional 4.9-star ratings across multiple platforms, they specialize in personalized service and competitive rates for both purchase and refinance loans. Their team has deep knowledge of the Northern Virginia market and offers a wide range of loan products including specialized programs for first-time homebuyers. The company is known for their responsive communication and smooth closing processes, making them a top choice for Hume area residents.
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Virginia Credit Union
Virginia Credit Union
Virginia Credit Union serves members throughout Virginia, including the Hume area, with highly competitive mortgage rates and exceptional member service. As a not-for-profit financial cooperative, they often offer lower fees and more favorable terms than traditional banks. With 85 years of experience and thousands of positive reviews, they provide comprehensive mortgage services including first-time homebuyer programs, construction loans, and various refinance options. Their digital mortgage application process is user-friendly while maintaining personalized service throughout.
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George Mason Mortgage
George Mason Mortgage, LLC
George Mason Mortgage has been serving Northern Virginia communities including Hume for over three decades with reliable mortgage services and competitive financing options. As a locally-owned and operated lender with strong ties to the community, they understand the unique aspects of the Northern Virginia housing market. They offer a comprehensive suite of loan products with particular expertise in conventional and government-backed loans. Known for their experienced loan officers and efficient processing, they maintain strong relationships with local real estate professionals while providing personalized service to each borrower.
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Frequently Asked Questions
Common questions about mortgage lending in Hume, VA
What are the typical down payment requirements for homes in Hume, VA, given its rural setting and property types?
In Hume, you'll often find a mix of larger land parcels and single-family homes. While standard 20% down payments are common for conventional loans, many local lenders are familiar with USDA Rural Development loans, which offer 0% down payment options for eligible properties and borrowers in this designated rural area. FHA loans with 3.5% down are also a popular choice for first-time buyers.
Are there any special mortgage considerations for buying a property with significant acreage in Hume?
Yes, purchasing a property with more than 10 acres in Hume can affect your mortgage options. Lenders may require a specialized "rural" or "land loan" appraisal that properly values both the home and the land. Some conventional lenders may have acreage limits, so working with a local lender experienced in Fauquier County's market is crucial to navigate these requirements.
What first-time homebuyer programs are specifically available to residents of Hume, VA?
Hume buyers can access the Virginia Housing Down Payment Assistance Grant (DPAG), which provides up to 2.5% of the purchase price for down payment and closing costs. Combined with a Virginia Housing loan, this is a powerful tool. Additionally, Fauquier County occasionally offers local assistance programs, so checking with the county's Office of Housing and Community Development is recommended.
How do mortgage rates in Hume compare to the broader Northern Virginia region, and what influences them?
Mortgage rates in Hume are generally aligned with national and state averages but can be slightly influenced by the local market's lower population density and property types. While rates in nearby urban centers might be highly competitive due to volume, Hume borrowers benefit from a less frenzied market. Your specific rate will depend more on your financial profile and the lender's access to secondary markets.
What should I know about property taxes and insurance when calculating my monthly mortgage payment in Hume?
Fauquier County, where Hume is located, has a property tax rate of $0.87 per $100 of assessed value (as of 2023), which is a key component of your escrow payment. Furthermore, due to the rural nature and potential for well/septic systems, lenders will require thorough homeowners insurance and may mandate additional water tests or septic inspections, which can influence upfront costs and escrow calculations.
Why Choose a Mortgage Lender in Hume?
Local Market Knowledge
Lenders who understand Hume'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 Hume and get competitive rates on your home loan.