The Best Mortgage Lenders in Hurley, VA
Compare verified mortgage lenders serving Hurley, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Hurley
Featured Mortgage Lenders
Peoples Bank Mortgage Team
Peoples Bank of Grundy
Peoples Bank of Grundy is a community-focused institution that has been serving Southwest Virginia, including Hurley, for over two decades. They are particularly strong in rural housing loans and USDA programs that benefit the Hurley area. With deep local knowledge of Buchanan County's real estate market, they offer personalized service and competitive rates. Their mortgage team has extensive experience with both purchase and construction loans, making them an excellent choice for the rural properties common in the Hurley region.
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Member Mortgage Services
UVA Community Credit Union
UVA Community Credit Union serves the entire Southwest Virginia region, including Hurley, with highly competitive mortgage rates and exceptional member service. They offer a comprehensive range of loan products with particular strength in first-time homebuyer programs and VA loans. Their digital mortgage application process is streamlined while maintaining personal service. Members consistently praise their responsive loan officers and smooth closing processes. They have specific programs designed for rural communities like Hurley.
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TowneBank Mortgage
TowneBank Mortgage
TowneBank Mortgage has a strong presence throughout Southwest Virginia with local loan officers who understand the unique needs of the Hurley market. They specialize in both urban and rural property financing, offering competitive rates and flexible terms. Their construction-to-permanent loan program is particularly valuable for the Hurley area where new construction is common. Customers consistently rate them highly for their communication throughout the loan process and ability to meet tight deadlines.
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Frequently Asked Questions
Common questions about mortgage lending in Hurley, VA
Are there any special mortgage programs for first-time homebuyers in Hurley, VA?
Yes, the Virginia Housing Development Authority (VHDA) offers several programs, like the VHDA FHA and Conventional loans with down payment assistance, which are accessible to Hurley residents. These programs are particularly valuable in Buchanan County, where median incomes can be lower than state averages, helping buyers overcome the initial cost barrier. It's advisable to work with a lender familiar with these state-wide programs to navigate the application process.
How do property types common in Hurley, like larger land parcels or older homes, affect the mortgage process?
Purchasing a home on a sizable lot or an older property in Hurley may require additional steps. Lenders might order specialized appraisals to assess the value of the land separately. For older homes, an FHA 203(k) renovation loan could be a useful tool to finance both the purchase and necessary updates, which is common in this historic Appalachian community.
What are typical down payment requirements for mortgages in Hurley's real estate market?
While 20% down is standard to avoid private mortgage insurance (PMI), many local lenders in Southwest Virginia are accustomed to working with buyers who put down 3-5% through conventional or FHA loans. Given Hurley's relatively affordable home prices compared to national averages, a lower down payment can be a more attainable goal for many local buyers.
Does living in a rural area like Hurley limit my lender options or affect interest rates?
While you have access to national lenders, local and regional banks or credit unions in Southwest Virginia often have a better understanding of the Hurley market and may offer competitive terms. Rates can be slightly influenced by factors like property accessibility and market volume, but Virginia Housing often provides below-market rates for eligible buyers in all counties, including Buchanan.
Are there any local grants or assistance programs specific to Buchanan County or Hurley for homebuyers?
While no program is exclusive solely to Hurley, Buchanan County is often a target area for broader Appalachian regional initiatives and Community Development Block Grants (CDBG) that can provide down payment and closing cost assistance. Checking with the Buchanan County Community Development Office or a local housing counselor is the best way to learn about active, hyper-local opportunities when they become available.
Why Choose a Mortgage Lender in Hurley?
Local Market Knowledge
Lenders who understand Hurley'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 Hurley and get competitive rates on your home loan.