The Best Mortgage Lenders in Shawsville, VA
Compare verified mortgage lenders serving Shawsville, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Shawsville
Featured Mortgage Lenders
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a highly-rated national lender with a strong local presence in the Roanoke Valley, serving Shawsville and surrounding Montgomery County areas. They are particularly noted for their efficient digital mortgage process and competitive rates. With numerous 5-star reviews from Virginia clients, they specialize in first-time homebuyer programs and offer quick closing timelines. Their local loan officers have deep knowledge of the New River Valley and Roanoke Valley housing markets.
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Atlantic Bay Mortgage Group
Atlantic Bay Mortgage Group, L.L.C.
Atlantic Bay Mortgage Group has been serving Virginia homeowners for over 25 years with a strong reputation for personalized service and competitive rates. Their Roanoke office specifically serves the Shawsville area and Montgomery County. They are particularly praised for their VA loan expertise, making them an excellent choice for military families and veterans in the region. Customers consistently highlight their responsive communication and smooth closing processes.
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New American Funding
New American Funding
New American Funding is a national lender with strong Virginia presence that serves the Shawsville area through their dedicated loan officers familiar with Southwest Virginia markets. They are particularly recognized for their diverse loan programs and commitment to serving minority communities. With competitive rates and a wide range of mortgage options, they offer both online and in-person service. Their local expertise in Virginia housing markets combined with national lending power makes them a top choice for Shawsville residents.
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Frequently Asked Questions
Common questions about mortgage lending in Shawsville, VA
What are the typical down payment requirements for homes in Shawsville, VA, given its rural setting?
For most conventional loans in Shawsville, a 5-20% down payment is standard. However, the area's rural classification makes many properties eligible for USDA loans, which offer 0% down payment options for qualified buyers in designated rural areas. An FHA loan with a 3.5% down payment is also a popular choice for first-time buyers looking at more modest homes in the area.
Are there any special mortgage programs for first-time homebuyers in Montgomery County that apply to Shawsville?
Yes, the Virginia Housing Development Authority (VHDA) offers several statewide programs accessible to Shawsville buyers, including grants for down payment and closing cost assistance. Additionally, Montgomery County may have local initiatives or partnerships; it's advisable to check with a local lender familiar with the "Virginia's New River Valley" region for any county-specific first-time buyer credits or affordable housing programs.
How do property types common in Shawsville, like homes on larger lots or with acreage, affect the mortgage process?
Homes with significant acreage or unique property features (like outbuildings) may require a more specialized appraisal to ensure the value is accurately assessed, which can slightly lengthen the process. Lenders will also scrutinize the property's utilities (e.g., well and septic) more closely. It's crucial to work with a lender experienced in rural properties to navigate these specifics smoothly.
What is the current range for mortgage interest rates in Shawsville, and how do they compare to nearby cities like Roanoke?
Mortgage rates in Shawsville are generally aligned with national and state averages, as they are not set locally. As of late 2023, rates for a 30-year fixed loan typically range from the high 6% to low 7% for well-qualified buyers. They are very similar to rates in Roanoke, though your specific rate will depend more on your credit profile and loan type than your exact location within the region.
What local costs or fees should I budget for specifically when getting a mortgage in Shawsville?
Beyond standard closing costs, Shawsville homebuyers should budget for Montgomery County property taxes and an annual county fee for trash collection. If the home is outside town limits, there may be no municipal water/sewer fees, but you'll need to account for the maintenance and potential testing costs for a private well and septic system, which lenders often require to be inspected.
Nearby Cities
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Why Choose a Mortgage Lender in Shawsville?
Local Market Knowledge
Lenders who understand Shawsville'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 Shawsville and get competitive rates on your home loan.