The Best Mortgage Lenders in Mc Lean, VA
Compare verified mortgage lenders serving Mc Lean, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Mc Lean
Featured Mortgage Lenders
First Home Mortgage
First Home Mortgage Corporation
First Home Mortgage stands out as one of McLean's most highly-rated local mortgage lenders with an exceptional 4.9 rating. With three decades of experience and deep roots in the Northern Virginia community, they specialize in serving the unique high-value real estate market of McLean. Their team of local experts provides personalized service for complex jumbo loans, luxury properties, and specialized financing needs common in this affluent area. Customers consistently praise their responsiveness, competitive rates, and expertise in navigating the competitive DC metro housing market.
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Presidential Bank Mortgage
Presidential Bank, FSB
Presidential Bank has built a strong reputation serving the McLean and greater Washington DC metro area with specialized expertise in jumbo loans and high-net-worth client financing. As a community-focused bank with over 35 years of experience, they offer the personalized service of a local institution with the sophisticated lending capabilities needed for McLean's luxury real estate market. Their mortgage team is praised for deep local market knowledge, competitive jumbo loan rates, and exceptional customer service throughout the lending process.
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George Mason Mortgage
George Mason Mortgage, LLC
George Mason Mortgage has been a trusted name in Northern Virginia mortgage lending for over 40 years, consistently ranking among the top lenders serving McLean and surrounding communities. As one of the region's most established mortgage companies, they combine local market expertise with comprehensive loan programs and competitive pricing. Their team specializes in the diverse financing needs of Northern Virginia homebuyers, from first-time purchases to luxury properties, with particular strength in government loans and local builder relationships.
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Frequently Asked Questions
Common questions about mortgage lending in Mc Lean, VA
What are the typical down payment requirements for a home in McLean, given its high property values?
Due to McLean's high median home prices, which often exceed $1 million, a standard 20% down payment can be a significant sum. Many buyers utilize jumbo loans, which may require 10-20% down, or explore portfolio loan options from local lenders familiar with the market. It's also common to see buyers leverage equity from previous home sales to meet these requirements.
Are there any local or state programs in Virginia to help with down payment assistance for buyers in McLean?
While McLean's high prices can limit eligibility for some programs, Virginia Housing offers down payment assistance grants and favorable loan rates for eligible buyers, subject to income and purchase price limits. First-time homebuyers in particular should consult with a mortgage lender experienced in Virginia Housing programs to see if they qualify for assistance that can make purchasing in this competitive market more feasible.
How do jumbo loan rates in McLean compare to conventional conforming loan rates?
Jumbo loan rates in McLean are typically very competitive and often close to, or sometimes even lower than, conforming loan rates due to the affluent borrower profile and high demand from lenders in the area. However, they come with stricter credit and reserve requirements (often 12+ months of mortgage payments in assets). It's crucial to shop among local banks and credit unions that actively write jumbo loans in Northern Virginia.
What unique mortgage considerations should I be aware of when buying a condo in McLean?
Financing a condo in McLean requires careful attention to the project's approval status with Fannie Mae/Freddie Mac or FHA. Many older, smaller condo buildings may not be on approved lists, limiting loan options. Lenders will also scrutinize the condo association's budget, reserves, and the percentage of owner-occupants, which can affect your loan terms and eligibility.
How does the property tax system in Fairfax County impact my monthly mortgage payment in McLean?
Fairfax County property taxes are a significant component of your monthly escrow payment in McLean. The current rate is $1.11 per $100 of assessed value, but assessments are high. Your lender will calculate escrow based on the specific property's assessment, and it's wise to budget for potential annual increases. Some new construction or significantly renovated homes may also be subject to supplemental tax bills.
Why Choose a Mortgage Lender in Mc Lean?
Local Market Knowledge
Lenders who understand Mc Lean'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 Mc Lean and get competitive rates on your home loan.