The Best Mortgage Lenders in Parrott, VA
Compare verified mortgage lenders serving Parrott, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Parrott
Featured Mortgage Lenders
Jason Eanes
Movement Mortgage
Movement Mortgage is a highly-rated national lender with strong Virginia presence, and Jason Eanes specifically serves the Southwest Virginia region including Parrott. With over 128 excellent reviews and a 4.9 rating, this team is known for exceptional customer service and local market expertise. They specialize in rural property financing including USDA loans that are particularly relevant for Parrott area homes. Their digital mortgage process combined with local loan officer support provides both convenience and personalized service.
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Jennifer C. Smith
Atlantic Bay Mortgage Group
Atlantic Bay Mortgage Group has been serving Virginia communities since 1996 and Jennifer Smith has built an outstanding reputation in Southwest Virginia with nearly two decades of experience. With a 4.8 rating across 94 reviews, they are particularly strong with VA and USDA loans, making them an excellent choice for Parrott residents including military families and rural homebuyers. Their local expertise in the New River Valley and surrounding areas ensures smooth transactions for properties in more rural locations.
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Chris Hall
New American Funding
Chris Hall with New American Funding brings over a decade of mortgage experience specifically to Southwest Virginia homebuyers. With an impressive 4.7 rating and 86 reviews, this lender is known for competitive rates and exceptional service for rural and suburban properties. New American Funding has been in business since 2003 and offers a wide range of loan products with particular strength in first-time homebuyer programs and government-backed loans that work well for the Parrott market area.
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Frequently Asked Questions
Common questions about mortgage lending in Parrott, VA
What are the typical mortgage rates available for homebuyers in Parrott, VA?
Mortgage rates in Parrott are generally aligned with national averages, but local lenders may offer competitive rates due to the rural nature of the New River Valley. As of recent trends, rates for a 30-year fixed mortgage typically range from the mid-6% to low-7% APR, but securing a pre-approval from a local credit union or community bank in nearby Pulaski or Radford can provide the most accurate and favorable terms for your specific financial situation.
Are there any special loan programs for first-time homebuyers in Parrott?
Yes, first-time homebuyers in Parrott can access the Virginia Housing Development Authority (VHDA) programs, which are available statewide. These include favorable loans like the FHA Plus, which offers down payment assistance, and the VHDA Conventional Loan. Given Parrott's location in Pulaski County, buyers should also inquire with local lenders about any additional county-specific grants or assistance programs aimed at promoting homeownership in rural communities.
How does Parrott's rural location and property types affect the mortgage appraisal process?
Due to Parrott's rural setting with a mix of farmland, older homes, and unique properties, appraisals can be more complex. Lenders may require appraisers familiar with the New River Valley's rural comparables. For properties on well and septic systems, the appraisal may be contingent on passing inspections, which can influence loan approval timelines and conditions more than in urban areas.
What should I know about property taxes and insurance when calculating my mortgage payment in Parrott?
Pulaski County, where Parrott is located, has a relatively low property tax rate compared to more urban parts of Virginia, which can make monthly payments more affordable. However, homeowners insurance may be a significant factor to budget for, as rural properties often require additional coverage for outbuildings, land, or specific risks like flooding near the New River. Your lender will help you escrow these estimated amounts.
Are USDA Rural Development loans a viable option for mortgages in Parrott, VA?
Absolutely. Given Parrott's designation as a rural area, many properties qualify for USDA Rural Development loans, which offer 100% financing (no down payment) for eligible borrowers and properties. This is one of the most advantageous programs for the area, but income limits and property eligibility must be verified through the USDA's online map and a participating local lender.
Nearby Cities
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Why Choose a Mortgage Lender in Parrott?
Local Market Knowledge
Lenders who understand Parrott'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 Parrott and get competitive rates on your home loan.