The Best Mortgage Lenders in Martinsburg, WV
Compare verified mortgage lenders serving Martinsburg, West Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Martinsburg
Featured Mortgage Lenders
Guild Mortgage
Guild Mortgage Company
Guild Mortgage is a highly-rated national lender with a strong local presence in Martinsburg, known for exceptional customer service and a wide range of loan options. With over 60 years in the mortgage industry, they have built a reputation for reliability, competitive rates, and personalized support. Their Martinsburg office is staffed by experienced loan officers who understand the local market, making them a top choice for homebuyers in the Eastern Panhandle. They consistently receive high marks for transparency and efficiency in the loan process.
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First United Bank & Trust
First United Bank & Trust
First United Bank & Trust is a well-established regional bank with deep roots in West Virginia, offering comprehensive mortgage services in Martinsburg. With over a century of experience, they provide personalized lending solutions and competitive rates, backed by strong community ties. Customers praise their knowledgeable staff and straightforward application process. Their long history and high customer satisfaction ratings make them a trusted lender for first-time homebuyers and refinancing needs in the area.
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WesBanco
WesBanco Bank, Inc.
WesBanco is a reputable regional bank with a significant presence in Martinsburg, offering a full suite of mortgage products and services. With over 150 years in banking, they combine traditional values with modern lending technology, ensuring a smooth and efficient home loan experience. Their local branch provides accessible support and competitive rates, with positive reviews highlighting their responsiveness and expertise. WesBanco is a reliable choice for those seeking a stable and community-focused mortgage lender in the Eastern Panhandle.
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Frequently Asked Questions
Common questions about mortgage lending in Martinsburg, WV
Are there any first-time homebuyer programs specific to Martinsburg or Berkeley County that can help with down payments?
Yes, the West Virginia Housing Development Fund (WVHDF) offers several statewide programs, like the Homeownership Program, which Martinsburg buyers can utilize. These often provide competitive interest rates and down payment/closing cost assistance. Additionally, local lenders may have knowledge of specific grants or programs tailored to the Eastern Panhandle region.
How do property tax rates in Martinsburg and Berkeley County impact my overall mortgage payment?
Berkeley County's property tax rates are relatively moderate for West Virginia, but they are a key component of your monthly escrow payment. The current rate is important for calculating your total PITI (Principal, Interest, Taxes, Insurance). Your lender will use the assessed value and the county's levy rate to accurately estimate this portion of your monthly obligation.
What is a typical down payment percentage needed for a conventional loan on a home in Martinsburg's current market?
While 20% down is ideal to avoid private mortgage insurance (PMI), many buyers in Martinsburg successfully secure conventional loans with down payments as low as 3-5%. The required percentage can depend on credit score, debt-to-income ratio, and the specific property. Given the area's comparatively affordable home prices, saving for a down payment is often more achievable here than in larger metro areas.
Does Martinsburg's proximity to military bases like the Coast Guard's NTC affect mortgage lending options?
Absolutely. Many lenders in the Martinsburg area are well-versed in VA loans, which are a tremendous benefit for active-duty military, veterans, and eligible spouses stationed at or near the National Conservation Training Center (NTC) or other bases. These loans typically require no down payment and have favorable terms, making them a popular choice in the local market.
Are USDA rural development loans available for homes in the Martinsburg area?
Yes, parts of Berkeley County, including areas on the outskirts of Martinsburg, are eligible for USDA loans, which offer 100% financing (no down payment). A local mortgage lender can help determine if a specific property address qualifies under the USDA's rural area designation, which can be a significant advantage for eligible buyers with moderate incomes.
Nearby Cities
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Why Choose a Mortgage Lender in Martinsburg?
Local Market Knowledge
Lenders who understand Martinsburg'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 Martinsburg and get competitive rates on your home loan.