The Best Mortgage Lenders in Raven, VA
Compare verified mortgage lenders serving Raven, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Raven
Featured Mortgage Lenders
Union Bank & Trust Mortgage Team
Union Bank & Trust
Union Bank & Trust is a highly-rated regional bank with strong presence in Southwest Virginia, serving Raven and surrounding Tazewell County communities. They maintain exceptional 4.8-star ratings across multiple review platforms with particular praise for their personalized service and competitive rural lending programs. Their mortgage team specializes in USDA and VA loans, which are particularly valuable for Raven area homebuyers, and they offer local underwriting decisions with deep understanding of the region's unique housing market.
Loan Types:
TruPoint Mortgage Division
TruPoint Bank
TruPoint Bank has been serving Southwest Virginia communities for nearly three decades with multiple branches conveniently located near Raven. They earn consistent 4.7-star ratings for their mortgage services, particularly noted for transparent communication and competitive rates. Their local loan officers have extensive experience with rural property financing and offer specialized first-time homebuyer programs. The bank maintains strong community ties throughout Tazewell County and provides the advantage of local decision-making with personalized service.
Loan Types:
First Community Bank Mortgage Center
First Community Bank
First Community Bank operates multiple branches throughout Southwest Virginia and maintains a dedicated mortgage center serving Raven and Tazewell County. With 4.6-star ratings, they're particularly praised for their expertise in rural property financing and construction loans, which are valuable for the Raven area market. Their mortgage team offers specialized knowledge of USDA rural development programs and provides local processing with quick turnaround times. The bank has built a strong reputation for reliable service and community involvement throughout the region.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Raven, VA
What are the typical down payment requirements for homes in Raven, VA, given the rural market?
In Raven's rural market, many properties are eligible for USDA Rural Development loans, which offer 100% financing with no down payment required, a major advantage. Conventional loans typically require 3-5% down, but local lenders are familiar with appraising unique rural properties which can influence loan-to-value ratios. It's crucial to work with a lender experienced in the county's specific property types.
Are there any special first-time homebuyer programs or grants available specifically in Tazewell County or Raven?
Yes, the Virginia Housing Development Authority (VHDA) offers its grant and loan programs statewide, including in Raven. Eligible buyers can access VHDA's Down Payment Assistance Grant (DPAG) and favorable loan rates. Additionally, some local community banks may offer portfolio loans or special programs for first-time buyers purchasing in the county, so it's worth asking lenders about localized options.
How does the appraisal process work for a mortgage on Raven's more remote or unique properties, like land with a mobile home?
Appraisals in Raven can be complex due to fewer comparable sales ("comps") for remote parcels or manufactured homes. Lenders will require an appraiser familiar with Tazewell County who can properly assess land value, well/septic systems, and the condition of non-traditional dwellings. This process may take longer and could occasionally impact the final loan amount compared to a standard suburban home.
What type of property taxes and insurance should I budget for when getting a mortgage in Raven?
Tazewell County property taxes are relatively low, but you must budget for them being paid through your escrow account. For insurance, standard homeowners insurance is required, but for properties on several acres or with outbuildings, you may need a farm or rural policy. If your home uses a well and septic, consider optional septic failure or water system insurance, which some lenders recommend.
Are mortgage interest rates in Raven, VA, different from the national average?
Mortgage rates are primarily set by national markets, so they are generally consistent. However, your final rate in Raven can be influenced by local factors like the lender's access to secondary markets for rural loans and the specific loan program you use (e.g., USDA or VA loans often have competitive rates). Shopping with local credit unions and community banks that deeply understand the area can sometimes yield more favorable terms.
Why Choose a Mortgage Lender in Raven?
Local Market Knowledge
Lenders who understand Raven'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 Raven and get competitive rates on your home loan.