The Best Mortgage Lenders in Cedarville, WV
Compare verified mortgage lenders serving Cedarville, West Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Cedarville
Featured Mortgage Lenders
Mortgage Department
United Bank
United Bank is one of West Virginia's largest and most established regional banks with a strong presence throughout the state, including service to Cedarville and Gilmer County. With over 35 years of mortgage lending experience, they offer comprehensive home loan programs including specialized rural development loans perfect for the Cedarville area. Their local loan officers understand West Virginia's unique housing market and provide personalized service with competitive rates. United Bank maintains an excellent reputation for customer satisfaction and community commitment throughout the Mountain State.
Loan Types:
Mortgage Services
WesBanco Bank
WesBanco has been serving West Virginia communities for over 150 years with a robust mortgage division that specifically serves rural areas like Cedarville. They offer specialized USDA rural development loans that are particularly beneficial for homebuyers in Gilmer County. With local branches throughout the region and mortgage experts who understand West Virginia's housing landscape, WesBanco provides competitive rates and personalized service. Their long-standing commitment to West Virginia communities and extensive experience with various loan programs makes them a top choice for Cedarville area home financing.
Loan Types:
Mortgage Lending Department
WV Central Credit Union
WV Central Credit Union offers exceptional mortgage services to members throughout West Virginia, including Cedarville residents. As a member-owned financial cooperative, they typically offer more competitive rates and lower fees than traditional banks. Their mortgage team has extensive experience with rural property financing and understands the specific needs of Gilmer County homebuyers. With outstanding customer satisfaction ratings and personalized service approach, WV Central Credit Union provides comprehensive mortgage solutions including specialized programs for first-time homebuyers and rural development loans ideal for the Cedarville area.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Cedarville, WV
Are there any special mortgage programs for first-time homebuyers in Cedarville, WV?
Yes, West Virginia offers the HOMEownership Down Payment/Closing Cost Assistance Program, which is available to eligible first-time buyers in Cedarville. This program can provide up to $10,000 in a deferred, forgivable loan for down payment and closing costs. Additionally, local lenders often work with statewide programs like the West Virginia Housing Development Fund (WVHDF) which offers competitive rates and down payment assistance.
How does Cedarville's rural location affect the mortgage appraisal process?
Due to Cedarville's rural setting in Gilmer County, appraisals can be more complex and sometimes take longer. Appraisers may need to look at comparable properties ("comps") from a wider geographic area, including towns like Glenville, which can impact the valuation. It's important to work with a lender experienced in rural properties who understands how to navigate these appraisals effectively.
What are typical property taxes like for a home in Cedarville, and how do they impact my monthly mortgage payment?
Property taxes in Gilmer County, where Cedarville is located, are relatively low compared to national averages. For 2023, the county rate is approximately $0.59 per $100 of assessed value (which is 60% of market value). This means your monthly escrow payment for taxes on a typical Cedarville home will be modest, making overall housing costs more affordable despite potential higher insurance costs for rural properties.
Are USDA Rural Development loans a good option for buying a home in Cedarville?
Absolutely. Cedarville's location makes nearly all properties eligible for USDA Section 502 Guaranteed Loans, which offer 100% financing with no down payment required. This is one of the most advantageous programs for buyers in the area, given the town's population and income limits. Local lenders are very familiar with this program, which can make the homebuying process more accessible.
How competitive is the mortgage market in Cedarville, and should I use a local lender?
While Cedarville is a small community, you have access to lenders from nearby areas like Glenville, Weston, and Clarksburg. Using a local or regional lender familiar with Gilmer County is highly advantageous. They understand the local market nuances, have established relationships with appraisers and title companies, and are often more familiar with state-specific assistance programs than large national banks.
Why Choose a Mortgage Lender in Cedarville?
Local Market Knowledge
Lenders who understand Cedarville'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 West Virginia.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Cedarville and get competitive rates on your home loan.