The Best Mortgage Lenders in Rocky Mount, VA
Compare verified mortgage lenders serving Rocky Mount, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Rocky Mount
Featured Mortgage Lenders
Movement Mortgage
Movement Mortgage
Movement Mortgage is a highly-rated national lender with a strong local presence in the Roanoke area, serving Rocky Mount residents with exceptional customer service and competitive rates. Founded in 2008, they specialize in a wide range of loan products and are known for their streamlined online process and personalized support. Their high rating and substantial review count reflect reliability, with many customers praising their efficiency and community involvement in southwestern Virginia.
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New American Funding
New American Funding
New American Funding is a top-rated mortgage lender with a robust regional presence that extends to Rocky Mount, offering diverse loan options and a commitment to underserved communities. Established in 2003, they have built a reputation for competitive rates and excellent customer service, with many reviews highlighting their responsiveness and expertise. Their long track record and high customer satisfaction make them a trusted choice for homebuyers in the area.
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Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a highly reputable lender with deep roots in the region, serving Rocky Mount through its Roanoke branch. Founded in 1996, they offer a comprehensive suite of mortgage products and are praised for their competitive rates, local expertise, and dedication to customer satisfaction. With numerous positive reviews emphasizing their personalized approach and efficient closing processes, they stand out as a reliable option for homeowners in southwestern Virginia.
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Frequently Asked Questions
Common questions about mortgage lending in Rocky Mount, VA
Are there any special mortgage or down payment assistance programs for first-time homebuyers in Rocky Mount, VA?
Yes, the Virginia Housing Development Authority (VHDA) offers several programs, such as the VHDA Down Payment Assistance Grant, which are widely accessible to eligible buyers in Rocky Mount. These programs can provide grants or low-interest second mortgages to help with down payments and closing costs, making homeownership more attainable in Franklin County's market.
How do property taxes in the Town of Rocky Mount and Franklin County impact my monthly mortgage payment?
Franklin County and the Town of Rocky Mount have separate property tax rates, which are combined if you live within town limits. The current combined rate is moderately low compared to urban Virginia areas, but your lender will include an estimated monthly amount for taxes in your escrow payment. It's important to get the exact rate for your specific property location when calculating your total monthly cost.
What are typical mortgage rates offered by local lenders in the Rocky Mount area?
Mortgage rates in Rocky Mount are generally aligned with national averages but can vary slightly between local community banks, credit unions like American National Bank & Trust, and national lenders. Shopping around locally is beneficial, as some regional institutions may offer competitive terms or special programs for financing homes in this more rural market.
Does the appraisal process in Rocky Mount present any unique challenges due to the mix of rural and town properties?
Yes, appraisals can be challenging, especially for unique rural properties with acreage or older homes in the historic districts. Finding comparable sales ("comps") may require the appraiser to look at a wider geographic area within Franklin County. It's wise to work with a local lender familiar with these nuances to ensure a smooth valuation process.
Are USDA Rural Development loans a viable option for mortgages in Rocky Mount, VA?
Absolutely. Much of Franklin County, including areas on the outskirts of Rocky Mount, is eligible for USDA loans, which offer 100% financing with no down payment. This is a highly attractive program for eligible buyers looking at properties just outside the town limits, making it a very common and practical loan option in this region.
Why Choose a Mortgage Lender in Rocky Mount?
Local Market Knowledge
Lenders who understand Rocky Mount'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 Rocky Mount and get competitive rates on your home loan.