The Best Mortgage Lenders in Wicomico, VA
Compare verified mortgage lenders serving Wicomico, Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Wicomico
Featured Mortgage Lenders
Atlantic Bay Mortgage Group
Atlantic Bay Mortgage Group
Atlantic Bay Mortgage Group is a highly-rated regional lender founded in 1996, known for its exceptional customer service and deep roots in Virginia. With a 4.8 rating from hundreds of reviews, they specialize in a wide range of loan products, including VA and USDA loans, which are popular in rural areas like Wicomico. Their long-standing presence, competitive rates, and commitment to personalized service make them a top choice for homebuyers in the region. They have a strong track record of reliability and are licensed to serve all of Virginia, including the Wicomico area.
Loan Types:
Movement Mortgage
Movement Mortgage
Movement Mortgage is a nationally recognized lender with a strong local presence in Virginia, boasting a 4.7 rating from numerous customer reviews. Founded in 2008, they offer efficient loan processing and a variety of mortgage options, including government-backed loans ideal for Wicomico residents. Their dedication to community involvement and customer satisfaction, combined with competitive rates and a streamlined online experience, has earned them a reputation as a reliable and responsive lender serving the broader Virginia area.
Loan Types:
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation has been a trusted name in the mortgage industry since 1996, with a 4.6 rating reflecting their commitment to excellence. They provide a comprehensive suite of loan products and are praised for their competitive rates and personalized service. With local offices in Virginia, they effectively serve Wicomico and surrounding areas, offering expertise in both purchase and refinance loans. Their strong customer feedback highlights their reliability, making them a top contender for home financing in the region.
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Frequently Asked Questions
Common questions about mortgage lending in Wicomico, VA
What are the current mortgage rates like in Wicomico, VA, and how do they compare to state averages?
Mortgage rates in Wicomico, VA, are generally aligned with national and Virginia state averages, but can be influenced by the county's more rural location. As a smaller market, you may find slightly more variation between local lenders. It's crucial to shop around with both local community banks and larger regional lenders to secure the most competitive rate for your specific financial profile.
Are there any down payment assistance programs specifically for buyers in Wicomico County?
Yes, homebuyers in Wicomico can utilize the Virginia Housing Down Payment Assistance Grant (DPA), which is a statewide program offering up to 2.5% of the home's purchase price. To qualify, you must use a Virginia Housing loan and meet income and sales price limits, which are favorable for Wicomico County's market. Working with a lender approved by Virginia Housing is the first step to access this grant.
How does the appraisal process work for rural properties in Wicomico, and what challenges might I face?
Appraising rural properties in Wicomico can be more complex due to fewer comparable sales ("comps"). Appraisers may need to look at a wider geographic area or older sales, which can sometimes impact the appraised value. It's wise to work with a local real estate agent and lender who have experience with rural Wicomico properties to help manage this process and set realistic expectations.
What should I know about property taxes and insurance when calculating my monthly mortgage payment in Wicomico?
Wicomico County has a relatively low property tax rate compared to more urban parts of Virginia, which can make homeownership more affordable. However, for homes outside town limits, you may need a private well and septic system, which can affect homeowners insurance costs. Your lender will help you escrow for both taxes and insurance, but it's important to get accurate quotes early in the process.
As a first-time homebuyer in Wicomico, what local lender expertise should I look for?
Look for lenders with proven experience with Virginia Housing programs and those familiar with the nuances of the Wicomico County market. Local credit unions and community banks often have deep roots in the area and may offer more personalized guidance on navigating rural property loans and available grants. Their knowledge of the local economy and housing inventory can be invaluable for a first-time buyer.
Nearby Cities
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Why Choose a Mortgage Lender in Wicomico?
Local Market Knowledge
Lenders who understand Wicomico'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 Wicomico and get competitive rates on your home loan.