The Best Mortgage Lenders in Tazewell, VA
Compare verified mortgage lenders serving Tazewell, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Tazewell
Featured Mortgage Lenders
United Southwest Credit Union
United Southwest Credit Union
United Southwest Credit Union is a highly-rated local financial institution deeply embedded in Southwest Virginia communities. With over 70 years of service, they offer personalized mortgage solutions with competitive rates and exceptional member service. Their mortgage team provides one-on-one guidance through the entire home buying process, specializing in rural housing loans which are particularly relevant for Tazewell County residents. As a credit union, they prioritize member satisfaction over profits, resulting in consistently high customer ratings and loyalty.
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Highlands Mortgage Services
Highlands Mortgage Services, LLC
Highlands Mortgage Services is a highly-regarded regional mortgage broker serving Southwest Virginia, including Tazewell County. With nearly two decades of experience, they've built a strong reputation for securing competitive rates and providing exceptional customer service. Their local expertise in rural and mountain property financing makes them particularly valuable for Tazewell homebuyers. Customers consistently praise their responsive communication, thorough guidance through complex loan processes, and ability to close loans efficiently in the challenging Southwest Virginia market.
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Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a nationally recognized lender with strong Virginia presence and extensive experience serving rural communities like Tazewell. While headquartered in North Carolina, they maintain multiple Virginia offices and specialize in USDA and VA loans that are popular in Southwest Virginia. Their streamlined digital process combined with local loan officer support provides both convenience and personalized service. With thousands of positive reviews nationwide and specialized programs for first-time homebuyers, they offer competitive rates and reliable closing timelines that appeal to Tazewell County residents.
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Frequently Asked Questions
Common questions about mortgage lending in Tazewell, VA
Are there any special mortgage programs for first-time homebuyers in Tazewell, VA?
Yes, the Virginia Housing Development Authority (VHDA) offers several programs, like the VHDA FHA and Conventional loans with down payment assistance, which are widely used in Tazewell. These programs are particularly beneficial given the area's moderate home prices, helping buyers cover closing costs and reduce upfront expenses. Local lenders are well-versed in these options and can guide you through the specific income and purchase price limits that apply in Tazewell County.
How do property taxes in Tazewell County affect my monthly mortgage payment?
Tazewell County has a relatively low property tax rate compared to state and national averages, which can make homeownership more affordable. Your lender will calculate an escrow payment for taxes as part of your monthly mortgage, and they will use the county's current rate of approximately $0.58 per $100 of assessed value for estimations. It's wise to confirm the exact assessment for your chosen property, as rates can vary slightly between towns within the county.
What is the typical down payment required for a home in Tazewell's market?
While 20% down is standard to avoid private mortgage insurance (PMI), many local buyers in Tazewell utilize loans with lower requirements due to the accessible home prices. FHA loans can require as little as 3.5% down, and USDA loans offer 0% down options for eligible rural properties, which are plentiful in and around Tazewell. Local lenders often work with these government-backed loans to accommodate buyers with limited savings.
Are USDA loans a common and good option for mortgages in Tazewell, VA?
Absolutely. Given Tazewell's designation as a rural area by the USDA, many properties qualify for USDA Section 502 Guaranteed Loans, which require no down payment. This is one of the most popular mortgage products in the area, making homeownership accessible for low-to-moderate income families. You'll need to work with a lender approved for USDA loans and meet specific income eligibility limits for Tazewell County.
How does the appraisal process work for older or unique properties in Tazewell's historic areas?
Appraising older homes, such as those in historic districts or more rural, unique properties, requires an appraiser with local expertise who understands the Tazewell market. Lenders will order an appraisal that considers the condition, comparable sales in the area, and any functional obsolescence. It's important to be prepared for the appraisal to potentially come in lower than the offer price, as finding direct comps for non-standard properties can be a challenge in a smaller market.
Why Choose a Mortgage Lender in Tazewell?
Local Market Knowledge
Lenders who understand Tazewell'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 Tazewell and get competitive rates on your home loan.