The Best Mortgage Lenders in White Marsh, VA
Compare verified mortgage lenders serving White Marsh, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in White Marsh
Featured Mortgage Lenders
Atlantic Bay Mortgage Group
Atlantic Bay Mortgage Group
Atlantic Bay Mortgage Group is one of Virginia's most highly-rated mortgage lenders with an exceptional reputation throughout the state. Founded in Virginia Beach, they have consistently maintained top ratings for customer service and competitive rates. They specialize in all major loan types and have particular expertise with VA loans, making them an excellent choice for military families and veterans. Their local processing teams and personalized service approach have earned them thousands of positive reviews and numerous industry awards for customer satisfaction.
Loan Types:
TowneBank Mortgage
TowneBank Mortgage
TowneBank Mortgage has deep roots in Virginia and serves the entire Hampton Roads region including the White Marsh area. As part of the larger TowneBank organization, they offer the stability of a well-established financial institution with the personalized service of a local lender. They are particularly strong in construction lending and custom home financing, making them ideal for buyers building new homes. Their local decision-making process and community-focused approach have earned them excellent customer reviews and strong regional recognition.
Loan Types:
BayPort Credit Union
BayPort Credit Union
BayPort Credit Union has been serving Southeastern Virginia communities for nearly a century, offering competitive mortgage rates and exceptional member service. As a not-for-profit financial cooperative, they typically offer lower fees and more favorable terms than traditional banks. They have extensive experience with all loan types and provide personalized mortgage guidance throughout the entire process. Their local branches and deep community involvement make them a trusted choice for home financing in the White Marsh service area, with particularly strong programs for first-time homebuyers.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in White Marsh, VA
Are there any special mortgage programs for first-time homebuyers in White Marsh, VA?
Yes, first-time homebuyers in White Marsh can utilize the Virginia Housing Development Authority (VHDA) programs, which are popular statewide. These include VHDA's Down Payment Assistance Grant, which can provide up to 2.5% of the loan amount for down payment and closing costs. Given White Marsh's rural setting in Gloucester County, some lenders may also offer USDA loans, which require no down payment for eligible buyers in designated rural areas.
How do property taxes in Gloucester County affect my monthly mortgage payment in White Marsh?
Gloucester County has a relatively low property tax rate compared to more urban parts of Virginia, which is a benefit for White Marsh homeowners. For the 2024 tax year, the rate is $0.58 per $100 of assessed value. Your lender will calculate an escrow payment based on this rate and the assessed value of your home, which will be included in your monthly mortgage payment, helping you budget consistently.
What is the typical down payment needed for a home in White Marsh's market?
While 20% down is standard to avoid private mortgage insurance (PMI), many buyers in White Marsh secure conventional loans with as little as 3-5% down, especially for first homes. Given the area's mix of single-family homes and more affordable properties, local lenders are accustomed to working with these lower down payment options. For the area's higher-value waterfront properties along the Severn River or Timberneck Creek, a larger down payment is often expected.
Does White Marsh's location in a coastal area require special insurance that affects mortgage approval?
Yes, due to White Marsh's proximity to the Chesapeake Bay and its tributaries, lenders will typically require a separate flood insurance policy if the property is in a FEMA-designated Special Flood Hazard Area (SFHA). This is mandatory for mortgage approval in those zones and will be escrowed into your monthly payment. Even if not mandatory, lenders may strongly recommend it given the local flood risk.
Are jumbo loans common in White Marsh, VA, and what are the requirements?
Jumbo loans are relevant for higher-priced waterfront or large-acreage properties in the White Marsh area that exceed the conforming loan limit ($$766,550 for 2024 in Gloucester County). Local lenders familiar with the market can arrange these, but they typically require excellent credit (often 700+), a larger down payment (usually 10-20%), and significant cash reserves. Appraisals for these properties can also be more complex due to the unique comparables.
Nearby Cities
Explore mortgage lenders in cities near White Marsh, VA
Why Choose a Mortgage Lender in White Marsh?
Local Market Knowledge
Lenders who understand White Marsh'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 White Marsh and get competitive rates on your home loan.