The Best Mortgage Lenders in Orlean, VA
Compare verified mortgage lenders serving Orlean, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Orlean
Featured Mortgage Lenders
Atlantic Bay Mortgage Group
Atlantic Bay Mortgage Group, LLC
Atlantic Bay Mortgage Group is a highly-rated lender with a strong local presence in Fauquier County, serving Orlean and surrounding areas since 1996. They are known for their personalized customer service, competitive rates, and expertise in various loan programs, including VA and USDA loans popular in rural Virginia. With numerous positive reviews highlighting their efficiency and support, they have built a reputation as a trusted partner for homebuyers in the region.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a nationally recognized lender with a robust presence in Virginia, offering fast and reliable mortgage services to Orlean residents. Founded in 2008, they excel in customer satisfaction, with reviews praising their streamlined process and dedicated loan officers. They provide a wide range of loan options and are committed to community engagement, making them a top choice for competitive rates and exceptional service.
Loan Types:
New American Funding
New American Funding, LLC
New American Funding has been serving Virginia homebuyers since 2003, with a focus on affordable lending solutions and excellent customer care. They offer diverse loan products tailored to the Orlean area, including FHA and VA loans, and are praised for their responsive support and competitive rates. Their strong track record and high review scores make them a reliable option for mortgages in the region.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Orlean, VA
What are the typical down payment requirements for homes in Orlean, VA, given its rural market?
In Orlean's rural market, many lenders offer USDA loans, which require 0% down payment for eligible properties and borrowers. For conventional loans, a 5-10% down payment is common, but some local lenders may offer portfolio loans with flexible terms due to the area's lower median home prices. It's important to work with a lender familiar with appraisals in Fauquier County.
Are there any special mortgage programs for first-time homebuyers in Orlean?
Yes, the Virginia Housing Development Authority (VHDA) offers several programs, like the VHDA FHA and Conventional loans with down payment assistance grants, which are accessible to Orlean buyers. These can be combined with VHDA's Mortgage Credit Certificate (MCC) for a federal tax credit. Local lenders and realtors can help navigate these state-wide programs, which are particularly valuable in this market.
How does Orlean's location in a high-cost county affect conforming loan limits?
Orlean is in Fauquier County, which for 2024 has a conforming loan limit of $766,550 for a single-family home, matching the standard limit for most of the U.S. This is sufficient for most properties in Orlean, but for higher-value estates or land, a jumbo loan may be required. Working with a lender experienced in both conforming and rural jumbo products is advisable.
What should I know about getting a mortgage for a property with acreage in Orlean?
Financing a home with significant acreage (often 5+ acres) in Orlean can require a specialized lender, as some conventional programs have limits on land value. Portfolio lenders or those offering "non-warrantable" loans are more common for these properties. The appraisal must adequately support the value of both the home and the land, which can be a more complex process in rural areas.
Are mortgage rates in Orlean, VA, different from nearby urban areas like Northern Virginia?
Mortgage rates are primarily set by national markets, so they are generally consistent. However, your final rate in Orlean can be influenced by local lender competition and property-specific factors like a well and septic system, which are common. Using a local credit union or community bank in Fauquier County can sometimes provide competitive terms and personalized service for rural properties.
Why Choose a Mortgage Lender in Orlean?
Local Market Knowledge
Lenders who understand Orlean'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 Orlean and get competitive rates on your home loan.