The Best Mortgage Lenders in Seaford, VA
Compare verified mortgage lenders serving Seaford, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Seaford
Featured Mortgage Lenders
BayPort Credit Union Mortgage Department
BayPort Credit Union
BayPort Credit Union is one of the most highly-rated mortgage lenders serving the Hampton Roads region, including Seaford. With exceptional customer satisfaction ratings and deep roots in the local community, they offer personalized service and competitive rates. Their mortgage team specializes in VA loans, making them an excellent choice for military families and veterans in the Seaford area. They provide comprehensive mortgage services with local decision-making and have built a reputation for smooth closings and excellent communication throughout the loan process.
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Tidewater Home Funding
Tidewater Home Funding LLC
Tidewater Home Funding is a locally-owned and operated mortgage broker with exceptional ratings and deep expertise in the Hampton Roads market. They consistently receive perfect 5-star reviews for their attentive service, competitive rates, and extensive knowledge of the Seaford and York County area. As a mortgage broker, they have access to multiple lenders and can often secure better terms than individual banks. Their team is particularly praised for guiding first-time homebuyers through the entire process and ensuring timely closings.
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Movement Mortgage - Newport News
Movement Mortgage, LLC
Movement Mortgage has established a strong presence in the Seaford area with their Newport News branch, offering nationally-backed resources with local expertise. They are particularly known for their efficient processing and "Movement Promise" which guarantees on-time closings. With extensive experience in VA loans and conventional financing, they serve a diverse clientele throughout York County. Their local loan officers have deep knowledge of the Seaford market and provide personalized service with the backing of a national lender's resources and competitive rate offerings.
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Frequently Asked Questions
Common questions about mortgage lending in Seaford, VA
What are the current mortgage rates like for homes in Seaford, VA, and how do they compare to the national average?
Mortgage rates in Seaford, VA, are generally in line with national averages, but local lenders may offer competitive terms due to the area's stable, suburban market. It's wise to compare offers from both local credit unions, like BayPort Credit Union, and national lenders, as rates can vary slightly based on the property's proximity to flood zones or the specific neighborhood within the York County area.
Are there any special loan programs or grants for first-time homebuyers in Seaford?
Yes, first-time homebuyers in Seaford can access Virginia-wide programs like the Virginia Housing Down Payment Assistance Grant (DPA), which provides funds for down payment and closing costs. Given Seaford's location in York County, buyers should also inquire with local lenders about any county-specific or USDA Rural Development loan eligibility, as some parts of the area may qualify for these low-down-payment options.
How does Seaford's location near the water affect the mortgage process, specifically regarding flood insurance?
Since Seaford is a peninsula community along the Poquoson River and Back Creek, many homes are in FEMA-designated flood zones (typically Zone AE). Lenders will require a flood elevation certificate and mandate flood insurance as a condition of the mortgage, which is a significant and mandatory addition to your monthly housing cost that must be factored into your budget.
What is the typical down payment required for a home in Seaford's market?
While 20% down is standard to avoid private mortgage insurance (PMI), many buyers in Seaford utilize conventional loans with 3-5% down or FHA loans with 3.5% down, especially given the area's mix of moderately priced single-family homes and higher-value waterfront properties. For the waterfront homes, a larger down payment is often expected by lenders due to the higher loan amounts and perceived risk.
Are property taxes and insurance costs in Seaford, VA, typically factored differently by mortgage lenders?
Yes, lenders carefully escrow for property taxes and homeowners insurance. Seaford is in York County, which has a relatively low real estate tax rate (currently $0.77 per $100 of assessed value). However, lenders will also require and escrow for wind and hail insurance due to the coastal location, and flood insurance as noted above. These combined costs can be significantly higher than in inland communities and directly impact your debt-to-income ratio calculation.
Why Choose a Mortgage Lender in Seaford?
Local Market Knowledge
Lenders who understand Seaford'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 Seaford and get competitive rates on your home loan.