The Best Mortgage Lenders in Norton, VA
Compare verified mortgage lenders serving Norton, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Norton
Featured Mortgage Lenders
Mountain Empire Financial
Mountain Empire Financial
Mountain Empire Financial is a highly-rated local mortgage lender deeply embedded in Southwest Virginia communities. With over two decades of experience serving Norton and surrounding areas, they specialize in rural housing loans including USDA loans that are particularly beneficial for the region. Their local expertise allows them to provide personalized service and understand the unique real estate market dynamics of Wise County and Norton specifically. Customers consistently praise their responsive communication, competitive rates, and ability to guide first-time homebuyers through the entire process.
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Eastman Credit Union Mortgage Department
Eastman Credit Union
As one of the largest credit unions in the region, Eastman Credit Union has been serving members in Southwest Virginia including Norton for decades. While headquartered in Kingsport, Tennessee, they actively serve the Norton market and are known for exceptional member service and competitive mortgage rates. Their extensive experience with VA loans makes them particularly valuable for military families in the area. ECU receives high marks for their transparent process, local decision-making, and comprehensive mortgage options tailored to individual financial situations.
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Movement Mortgage - Kingsport Branch
Movement Mortgage
Movement Mortgage has established a strong regional presence serving Southwest Virginia markets including Norton from their Kingsport location. As a national lender with local expertise, they combine the efficiency of digital mortgage processes with personalized local service. They are particularly noted for their quick closing times and excellent customer service ratings. Their loan officers have extensive experience with the unique aspects of the Norton real estate market and offer specialized programs for first-time homebuyers and rural property financing that are well-suited to the area.
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Frequently Asked Questions
Common questions about mortgage lending in Norton, VA
Are there any special mortgage or down payment assistance programs for first-time homebuyers in Norton, VA?
Yes, Norton homebuyers can access the Virginia Housing Down Payment Assistance Grant (DPA), which provides up to 2.5% of the home's purchase price as a non-repayable grant. Given Norton's relatively affordable housing market, this grant can significantly reduce upfront costs. It's crucial to work with a lender approved by Virginia Housing to utilize this and other potential local programs.
How do property taxes in Norton, Virginia, affect my monthly mortgage payment?
Norton, located in Wise County, has a combined city and county property tax rate that is generally moderate compared to state and national averages. For 2023, the rate was $0.82 per $100 of assessed value. Your lender will estimate these taxes for your escrow account, and since home values in Norton are often lower, the property tax portion of your PITI payment is typically manageable.
What types of properties in Norton might require special mortgage consideration, like a renovation loan?
Norton has a mix of historic homes and older housing stock, particularly in its established neighborhoods. If you're considering a home that needs significant updates, an FHA 203(k) or Fannie Mae HomeStyle® Renovation loan could be a smart choice. These loans allow you to finance both the purchase price and the cost of renovations, which is valuable for modernizing a solid older home in the area.
Is it difficult to get a mortgage for a manufactured or mobile home in the Norton area?
While more challenging than for a traditional site-built home, financing is available. You'll need to ensure the home is permanently affixed to a foundation and classified as real property, not personal property. Local lenders and credit unions familiar with the Norton and Wise County market are often the best resources for navigating these specific loan requirements, which differ from standard mortgages.
How does Norton's rural location impact the mortgage process, like appraisals and inspections?
Norton's designation as part of a rural area can be an advantage, as many properties may qualify for USDA Rural Development loans, which offer 100% financing with no down payment. However, scheduling appraisals and inspections may take slightly longer than in urban centers, as certified professionals may need to travel from larger hubs like Kingsport or Tri-Cities. Planning for a flexible timeline is advisable.
Why Choose a Mortgage Lender in Norton?
Local Market Knowledge
Lenders who understand Norton'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 Norton and get competitive rates on your home loan.