The Best Mortgage Lenders in Susan, VA
Compare verified mortgage lenders serving Susan, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Susan
Featured Mortgage Lenders
BayPort Credit Union
BayPort Credit Union
BayPort Credit Union is one of the most highly-rated mortgage lenders serving the Middle Peninsula region including Susan, Virginia. With over 90 years of serving Virginia communities, they offer personalized mortgage solutions with exceptional customer service. Their local branch network throughout the Tidewater area provides convenient access for Susan residents, and they consistently receive top marks for their competitive rates, transparent process, and knowledgeable loan officers who understand the unique needs of rural Virginia homebuyers.
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First Heritage Mortgage
First Heritage Mortgage, LLC
First Heritage Mortgage is a Virginia-based lender with an outstanding reputation for serving rural communities throughout the state, including Middlesex County where Susan is located. They specialize in navigating the unique challenges of rural property financing and have extensive experience with USDA loans, which are particularly relevant for the Susan area. Their team of local loan officers provides personalized service and they're known for their fast closings, competitive rates, and exceptional communication throughout the mortgage process.
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Atlantic Bay Mortgage Group
Atlantic Bay Mortgage Group, LLC
Atlantic Bay Mortgage Group has built a strong reputation across Virginia, with particular expertise in serving the coastal and rural communities of the Middle Peninsula and Northern Neck regions. They have extensive experience with the types of properties common in the Susan area and offer specialized loan programs for waterfront and rural properties. Their local loan officers understand the specific appraisal and insurance considerations for the region, and they're consistently praised for their responsive service, competitive rates, and ability to handle complex mortgage scenarios with professionalism.
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Frequently Asked Questions
Common questions about mortgage lending in Susan, VA
Are there any special mortgage programs for first-time homebuyers in Susan, VA?
Yes, the Virginia Housing Development Authority (VHDA) offers several programs accessible to Susan residents, including the VHDA FHA and Conventional loans with down payment assistance grants. These programs are particularly valuable in Susan's market, helping buyers compete with favorable terms and lower upfront costs. Local lenders are well-versed in these options and can guide you through the application.
How do property taxes in Gloucester County impact my monthly mortgage payment in Susan?
Gloucester County's property tax rate is a key component of your escrow payment. The current rate is $0.58 per $100 of assessed value, which is relatively moderate for the region. When calculating your total monthly mortgage payment (PITI), your lender will estimate these taxes based on the home's assessed value, which is crucial for accurate budgeting in Susan's housing market.
What is the typical down payment needed for a home in Susan, VA?
While 20% down is standard to avoid mortgage insurance, many buyers in Susan utilize loans with 3%, 3.5%, or 5% down, especially with VHDA or FHA loans. Given Susan's more rural setting and median home prices, local lenders often work with buyers on these low-down-payment options. The exact amount will depend on your loan program, credit, and the specific property.
Are USDA rural housing loans available for properties in Susan, VA?
Absolutely. Susan's location in Gloucester County is eligible for USDA Rural Development loans, which offer 100% financing (no down payment). This is a major advantage for qualifying buyers looking in this area, as it makes homeownership more accessible. A local mortgage officer can confirm a specific property's eligibility using the USDA's online map.
How does the appraisal process work for a home in a rural area like Susan?
Appraisals in Susan can be more complex due to the rural setting and the potential for unique properties with well and septic systems. Lenders will use appraisers familiar with the local market who can properly compare sales of similar homes, which may be farther apart. The condition and certification of the water and wastewater systems will be a key focus of the appraisal and loan approval process.
Why Choose a Mortgage Lender in Susan?
Local Market Knowledge
Lenders who understand Susan'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 Susan and get competitive rates on your home loan.