The Best Mortgage Lenders in New Market, VA
Compare verified mortgage lenders serving New Market, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in New Market
Featured Mortgage Lenders
Presidential Bank Mortgage
Presidential Bank, FSB
Presidential Bank Mortgage is a highly-rated regional lender with strong presence in the Shenandoah Valley, serving New Market and surrounding areas. With exceptional 4.8-star ratings across multiple review platforms, they specialize in personalized mortgage solutions for both urban and rural properties. Their experienced loan officers have deep knowledge of local market conditions in Shenandoah County and offer competitive rates on conventional, FHA, VA, and jumbo loans. The company is particularly noted for their responsive customer service and efficient loan processing, making them a top choice for homebuyers in the New Market area.
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Union Bank & Trust Mortgage
Union Bank & Trust
Union Bank & Trust has been serving Virginia communities for over a century with a strong local presence in the Shenandoah Valley. As a community-focused financial institution, they offer comprehensive mortgage services with particular expertise in rural properties common around New Market. Their 4.7-star rating reflects exceptional customer satisfaction, and they're known for their competitive rates and flexible underwriting. UBT mortgage specialists provide personalized guidance through the entire homebuying process, with special programs for first-time homebuyers and portfolio loan options not available through national lenders.
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First Bank Mortgage
First Bank
First Bank brings over a century of banking experience to the Northern Virginia and Shenandoah Valley regions, serving New Market residents with locally-based mortgage decisions. Their 4.6-star rating demonstrates consistent customer satisfaction, particularly for their construction and lot loan expertise valuable in developing areas around New Market. As a community bank, they offer the personal service of a local lender with the resources of an established financial institution. First Bank mortgage officers are known for their accessibility and commitment to finding the right loan product for each borrower's unique situation, with special attention to rural property financing.
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Frequently Asked Questions
Common questions about mortgage lending in New Market, VA
Are there any special mortgage considerations for buying a historic home in New Market, VA?
Yes, purchasing a home in New Market's historic district or a property with historic designation often requires a specialized appraisal and may involve stricter inspection requirements for certain loan types. Lenders familiar with the Shenandoah Valley can guide you through programs like Fannie Mae's HomeStyle Renovation loan, which can finance both purchase and repairs, crucial for maintaining historic integrity while meeting modern lending standards.
What local or state programs can help with a down payment for a first-time homebuyer in New Market?
First-time homebuyers in New Market should explore the Virginia Housing Down Payment Assistance Grant (DPAG) and the Closing Cost Assistance Grant (CCAG), which provide funds that do not need to be repaid. These state-wide programs are particularly valuable here, as they can be combined with Virginia Housing's competitive first mortgage rates to make homeownership more accessible in Shenandoah County's market.
How do mortgage rates in New Market, VA, typically compare to state and national averages?
Mortgage rates in New Market are generally aligned with national averages, as they are set by broader financial markets. However, your specific rate will depend heavily on your financial profile and the lender. Working with a local credit union, like one based in the Shenandoah Valley, can sometimes provide more personalized service and competitive offerings, especially for members with strong local ties.
What should I know about property taxes and insurance when calculating my mortgage payment in New Market?
Shenandoah County, where New Market is located, has a relatively moderate property tax rate, which is a positive for your monthly payment. However, it's wise to budget for potentially higher homeowners insurance premiums if your property is outside town limits and relies on a volunteer fire department, as this can affect the home's ISO fire protection rating and insurance costs.
Are USDA rural development loans a viable option for mortgages in New Market, VA?
Absolutely. Much of the area around the town of New Market is eligible for USDA Rural Development loans, which offer 100% financing (no down payment). This is a major advantage for buyers looking at properties in the surrounding countryside of Shenandoah County, making homeownership possible with less upfront cash while still being within a short commute to town amenities and major highways.
Nearby Cities
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Why Choose a Mortgage Lender in New Market?
Local Market Knowledge
Lenders who understand New Market'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 Market and get competitive rates on your home loan.