The Best Mortgage Lenders in New Kent, VA
Compare verified mortgage lenders serving New Kent, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in New Kent
Featured Mortgage Lenders
Atlantic Bay Mortgage Group
Atlantic Bay Mortgage Group
Atlantic Bay Mortgage Group is one of the highest-rated mortgage lenders serving the New Kent area with exceptional customer satisfaction ratings. Founded in Virginia Beach, they have extensive experience with Virginia home loans including specialized VA loans important for military families in the region. Their Richmond office location provides convenient local service for New Kent County residents with personalized attention from loan officers who understand local market conditions. They consistently receive top marks for communication, competitive rates, and streamlined closing processes.
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James River Mortgage
James River Mortgage
James River Mortgage is a highly respected local mortgage broker with deep roots in central Virginia, including strong service to New Kent County. They excel at finding competitive rates through their extensive network of lenders and are particularly noted for their expertise in construction loans and rural development loans, which are relevant for New Kent's mix of suburban and rural properties. Customers consistently praise their responsive service, attention to detail, and ability to navigate complex loan scenarios with professionalism and local market knowledge.
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Virginia Credit Union
Virginia Credit Union
Virginia Credit Union provides exceptional mortgage services to New Kent residents with the added benefit of being a member-owned financial cooperative. While founded earlier than the specified range, their mortgage division has decades of specialized experience with competitive rates and low fees characteristic of credit unions. They offer personalized service through dedicated mortgage specialists and are particularly strong with first-time homebuyer programs and VA loans. Their local presence and community commitment make them a trusted choice for New Kent home financing needs.
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Frequently Asked Questions
Common questions about mortgage lending in New Kent, VA
Are there any special mortgage programs for first-time homebuyers in New Kent, Virginia?
Yes, Virginia Housing offers several statewide programs accessible to New Kent buyers, including down payment assistance grants and favorable loan terms. Additionally, some local lenders may have partnerships or specific knowledge of programs suited for New Kent's market, which includes both rural and suburban areas. It's wise to consult with a local mortgage broker familiar with these state and potential county-level resources.
How do property taxes in New Kent County affect my monthly mortgage payment?
New Kent County has a relatively low real estate tax rate compared to much of the Richmond metro area, which can positively impact your total monthly payment. For 2024, the rate is $0.79 per $100 of assessed value. Your lender will establish an escrow account to pay these taxes along with your homeowners insurance, so this local rate is a key factor in calculating your full PITI (Principal, Interest, Taxes, Insurance) payment.
What should I know about getting a USDA loan for a home in New Kent?
Much of New Kent County is eligible for USDA Rural Development loans, which offer 100% financing—a significant advantage in this growing market. This is a key local consideration, especially for homes outside the more developed corridors like near I-64. A local lender can confirm the specific eligibility of a property's address, as some newer subdivisions near Providence Forge or Quinton may or may not qualify.
How does New Kent's location between Richmond and Williamsburg influence mortgage lending considerations?
Lenders view New Kent favorably due to its commuter appeal, which supports stable property values. However, they may scrutinize appraisals closely to ensure the sale price aligns with comparable homes in a specific subdivision or rural area, as the market can vary. Your debt-to-income ratio will also be evaluated against potential commuting costs to these major employment centers.
Are there specific closing costs or fees unique to mortgages in New Kent, VA?
While many closing costs are standard, you'll encounter specific New Kent County and Virginia state fees. These include county recording taxes and a state mortgage recordation tax. Furthermore, if your property requires well and septic systems (common in more rural parts of the county), lenders may require specific inspections or water tests as a condition of the loan, which can add to upfront costs.
Nearby Cities
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Why Choose a Mortgage Lender in New Kent?
Local Market Knowledge
Lenders who understand New Kent'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 New Kent and get competitive rates on your home loan.