The Best Mortgage Lenders in Vienna, VA
Compare verified mortgage lenders serving Vienna, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Vienna
Featured Mortgage Lenders
First Home Mortgage
First Home Mortgage Corporation
First Home Mortgage is a highly-rated local mortgage lender with deep roots in Northern Virginia. They maintain exceptional 4.9-star ratings across multiple review platforms and are particularly praised for their personalized service and competitive rates. As a direct lender with in-house underwriting, they offer faster closings and more flexible loan options. Their Vienna location provides convenient local service with expertise in the competitive Northern Virginia real estate market, making them a top choice for both first-time homebuyers and experienced investors.
Loan Types:
George Mason Mortgage
George Mason Mortgage, LLC
George Mason Mortgage has been serving the Northern Virginia community for over three decades with outstanding customer satisfaction ratings. They specialize in the unique needs of Vienna and surrounding Fairfax County homebuyers, offering competitive local market expertise and streamlined processing. Their strong relationships with local real estate professionals and deep understanding of Virginia-specific loan programs make them a preferred lender in the area. Customers consistently praise their responsive communication and ability to close loans efficiently in competitive markets.
Loan Types:
New American Funding
New American Funding
New American Funding brings national lending power with strong local presence in Northern Virginia, serving Vienna homeowners with competitive rates and diverse loan products. They are particularly noted for their innovative technology platform that simplifies the mortgage process and their commitment to serving diverse communities. With multiple local loan officers specializing in the Vienna market, they offer personalized service combined with the resources of a major lender. Their high customer satisfaction ratings reflect their ability to handle complex loan scenarios while maintaining excellent communication throughout the process.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Vienna, VA
What are the typical down payment requirements for a home in Vienna, VA, given the high home prices?
Due to Vienna's high median home price, which often exceeds $1 million, a standard 20% down payment can be a significant sum. However, many lenders offer conventional loans with down payments as low as 5% or 3% for qualified first-time buyers, though this will require private mortgage insurance (PMI). For higher-priced homes, jumbo loans are common and typically require a minimum of 10-20% down, depending on the lender and the borrower's financial profile.
Are there any special mortgage or down payment assistance programs for first-time homebuyers in Vienna?
Yes, the Virginia Housing Development Authority (VHDA) offers several programs, such as the VHDA FHA and Conventional loans with down payment assistance grants, which are available to eligible buyers in Vienna. Additionally, Fairfax County offers its own Mortgage Credit Certificate (MCC) program, which can provide a federal tax credit for a portion of the mortgage interest paid annually, making homeownership more affordable for qualifying first-time buyers in this expensive market.
How do property taxes in Vienna, VA, impact my monthly mortgage payment and qualification?
Vienna's property tax rate is relatively low for Northern Virginia (currently $0.0925 per $100 of assessed value), but because home assessments are high, the annual tax bill is substantial. Lenders will include this estimated monthly escrow payment in your debt-to-income (DTI) ratio calculation. It's crucial to factor in an extra $500-$1,500 or more per month for taxes and insurance when budgeting for your total mortgage payment in Vienna.
Is it common to use jumbo loans in Vienna, and how do their rates compare to conforming loans?
Yes, jumbo loans are extremely common in Vienna, as most home sales prices exceed the conforming loan limit (currently $1,149,825 for Fairfax County). Jumbo loan rates are often very competitive with, and sometimes even lower than, conforming rates for well-qualified borrowers with excellent credit, high incomes, and substantial reserves. You'll need to shop lenders who specialize in jumbo products, as their underwriting standards can be more stringent.
What local factors should I consider when choosing a lender for a Vienna home purchase?
Choose a lender with extensive experience in Northern Virginia's competitive and fast-paced market. They should be highly familiar with Vienna's specific appraisal challenges, as preserving contract contingencies is critical. A local lender who understands the nuances of dealing with title companies, HOAs common in Vienna's many townhome communities, and the rapid closing timelines expected by sellers will provide a significant advantage.
Why Choose a Mortgage Lender in Vienna?
Local Market Knowledge
Lenders who understand Vienna'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 Vienna and get competitive rates on your home loan.