The Best Mortgage Lenders in Paris, VA
Compare verified mortgage lenders serving Paris, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Paris
Featured Mortgage Lenders
First Heritage Mortgage
First Heritage Mortgage, LLC
First Heritage Mortgage is a top-rated local lender with deep roots in Northern Virginia, including Paris and Fauquier County. Known for exceptional customer service, personalized loan solutions, and competitive rates, they specialize in a wide range of mortgage products. Their long-standing reputation and high review scores reflect reliability and expertise in handling both purchase and refinance loans for rural and suburban homes.
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Atlantic Bay Mortgage Group
Atlantic Bay Mortgage Group, LLC
Atlantic Bay Mortgage Group is a highly respected regional lender with a strong presence in Virginia, serving Paris and surrounding areas. They offer competitive rates, a variety of loan options, and are praised for their responsive customer service and streamlined processes. With nearly three decades of experience, they have built a solid track record for helping borrowers in diverse markets, including rural communities.
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Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage combines national reach with local expertise, offering efficient online tools and dedicated loan officers for the Paris, VA area. They are recognized for fast closings, competitive rates, and excellent customer support, particularly in serving rural and small-town homebuyers. Their commitment to community involvement and high satisfaction ratings make them a reliable choice for mortgage needs.
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Frequently Asked Questions
Common questions about mortgage lending in Paris, VA
What are the typical down payment requirements for homes in Paris, VA, given its higher-than-average property values?
For the luxury and historic properties common in Paris, lenders often expect a minimum of 20% down to avoid private mortgage insurance (PMI). However, for more moderately priced homes in the surrounding Fauquier County, conventional loans with 5-10% down are possible. It's crucial to get a local lender familiar with appraisals in this unique market to ensure your down payment strategy aligns with property types here.
Are there specific mortgage considerations for buying a historic home in Paris, VA?
Yes, purchasing a historic property in Paris often requires a specialized appraisal and potentially a renovation loan, like an FHA 203(k) or Fannie Mae HomeStyle® loan, if updates are needed. Lenders may have stricter requirements regarding the home's condition and may not approve loans for properties needing major structural repairs. Working with a lender experienced in historic districts is highly recommended.
What local or state programs are available to help first-time homebuyers in Paris, VA?
First-time homebuyers should explore the Virginia Housing Development Authority (VHDA) programs, which offer competitive interest rates, down payment assistance grants, and closing cost assistance. These programs have income and purchase price limits, which are typically higher in Fauquier County than in urban areas, making them accessible for many looking to buy in the Paris area.
How do property taxes in Fauquier County impact the mortgage qualification process for a Paris home?
Fauquier County's property tax rates are a key factor in your debt-to-income ratio (DTI). While the rate is moderate, the higher assessed values of properties in and around Paris mean your monthly escrow payment for taxes will be significant. Your lender will calculate this into your total monthly obligation, which can affect how much home you qualify for compared to other regions.
Is it common to use USDA loans in Paris, VA, given its rural setting?
While Paris has a rural charm, the specific zip code and property location must be checked for USDA eligibility, as some areas may not qualify due to proximity to more developed corridors. For eligible properties on the outskirts, a USDA loan can be an excellent option with 0% down, but for homes within the village itself, conventional or FHA loans are typically more applicable.
Why Choose a Mortgage Lender in Paris?
Local Market Knowledge
Lenders who understand Paris'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 Paris and get competitive rates on your home loan.