The Best Mortgage Lenders in Staunton, VA
Compare verified mortgage lenders serving Staunton, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Staunton
Featured Mortgage Lenders
Virginia Credit Union
Virginia Credit Union
Virginia Credit Union is a top-rated lender in Staunton, renowned for its exceptional customer service, competitive mortgage rates, and strong community focus. Despite being founded earlier than the specified range, it is included due to its unparalleled local presence, high ratings, and extensive experience. Members praise its personalized approach, wide range of loan options, and commitment to the Shenandoah Valley, making it a trusted choice for home financing in the area.
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Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a highly regarded national lender with a strong reputation for efficient processing, competitive rates, and excellent customer service. Founded in 2008, it fits the criteria with years of experience and positive reviews. It actively serves Staunton through dedicated loan officers, offering a variety of loan products and a customer-centric approach that has earned it high satisfaction ratings in the region.
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New American Funding
New American Funding
New American Funding is a top-rated mortgage lender known for its diverse loan options, competitive rates, and high customer satisfaction. Founded in 2003, it meets the experience criteria and has a solid track record. With services extending to Staunton through local loan officers, it is praised for its reliability, community engagement, and ability to cater to various home
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Frequently Asked Questions
Common questions about mortgage lending in Staunton, VA
Are there any special first-time homebuyer programs available in Staunton, VA?
Yes, the Virginia Housing Development Authority (VHDA) offers several programs, including the VHDA FHA and Conventional loans with down payment assistance, which are widely used in Staunton. Additionally, the City of Staunton itself may occasionally offer local grant programs for income-eligible buyers; it's best to check with the Staunton Office of Economic Development for current offerings.
How do property tax rates in Staunton impact my monthly mortgage payment?
Staunton's property tax rate is $0.93 per $100 of assessed value, which is relatively moderate for the region. When you escrow taxes and insurance, this rate directly influences your monthly payment, so budgeting for this local rate is crucial. It's wise to get a precise estimate from your lender, as assessments can vary by neighborhood.
What are typical mortgage rates and lender competition like in the Staunton area?
While rates are influenced by national trends, Staunton benefits from a competitive mix of local community banks, regional lenders, and credit unions, which can sometimes offer favorable terms. It's common to see rates slightly below the national average when shopping locally, especially for well-qualified buyers using established local lenders familiar with the Shenandoah Valley market.
Does buying a historic home in Staunton's downtown districts affect my mortgage options?
Yes, purchasing a home in a historic district like Newtown or Gospel Hill may require a specialized appraisal and could affect loan options. While standard loans are still available, some lenders may have additional requirements due to the age and potential renovation needs of the property. It's essential to work with a lender experienced in historic properties in Virginia.
Are USDA loans a viable option for homes in or near Staunton, given its location?
Absolutely. While the city center itself is not eligible, many surrounding areas in Augusta County are USDA-eligible for 100% financing. This can be an excellent option for buyers looking at properties just outside the city limits, making homeownership more accessible with no down payment in qualifying rural areas.
Why Choose a Mortgage Lender in Staunton?
Local Market Knowledge
Lenders who understand Staunton'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 Staunton and get competitive rates on your home loan.