The Best Mortgage Lenders in Scarbro, WV
Compare verified mortgage lenders serving Scarbro, West Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Scarbro
Featured Mortgage Lenders
Randy Ball
City National Bank of West Virginia
City National Bank of West Virginia is a locally-owned community bank with deep roots in Fayette County and surrounding areas. As one of the most trusted mortgage lenders in the region, they offer personalized service and local underwriting decisions. Their mortgage team, including experienced loan officer Randy Ball, specializes in helping rural homeowners in communities like Scarbro with various loan programs including USDA loans which are particularly relevant for the area. With over 25 years of experience, they understand the unique property needs in Southern West Virginia.
Loan Types:
Jason Cantley
Clear Mountain Bank
Clear Mountain Bank has been serving Southern West Virginia communities for over two decades with a strong focus on local mortgage lending. Their Oak Hill branch is conveniently located near Scarbro and their loan officers have extensive experience with rural property financing. They offer competitive rates and personalized service with local decision-making. The bank is particularly known for their expertise in FHA and VA loans, and they maintain excellent relationships with local real estate professionals throughout Fayette County.
Loan Types:
Mortgage Department
Summit Community Bank
Summit Community Bank, while headquartered further south, has a strong presence throughout Southern West Virginia and actively serves Fayette County residents. Their mortgage team offers comprehensive lending solutions with a focus on building long-term relationships. They are particularly strong in construction lending and offer various first-time homebuyer programs. The bank has received numerous local awards for customer service and community involvement, making them a trusted choice for Scarbro area homeowners seeking reliable mortgage financing with competitive terms.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Scarbro, WV
What are the typical down payment requirements for homes in Scarbro, WV, given the local market?
In Scarbro's affordable market, many conventional loans require a 3-5% down payment, but local lenders often work with buyers to utilize USDA Rural Development loans, which require **0% down** for eligible properties and borrowers. FHA loans with 3.5% down are also very common here, making homeownership accessible even with modest savings.
Are there any special mortgage programs for first-time homebuyers in Scarbro?
Yes, the West Virginia Housing Development Fund (WVHDF) offers several programs ideal for Scarbro buyers, including down payment assistance grants and affordable fixed-rate mortgages with below-market interest rates. These programs have income and purchase price limits that many Scarbro homes easily meet, providing significant savings for qualifying first-time buyers.
How does the appraisal process work for a manufactured or mobile home in Scarbro, which is common in Fayette County?
Appraising manufactured homes in Scarbro requires a specialist familiar with local land and home values in rural areas. Lenders will require the home to be permanently affixed to a foundation and titled as real estate. Using a local lender experienced with these transactions in Fayette County is crucial to navigate the specific requirements and ensure a smooth process.
What local factors in Scarbro might affect my property taxes and homeowners insurance costs?
Fayette County property taxes are relatively low, but it's important to verify if a home is in a flood zone, as some areas near streams may require flood insurance, impacting your monthly payment. Insurance costs can also be influenced by the age and type of heating (e.g., oil, electric) common in older Scarbro homes. A local insurance agent can provide accurate quotes.
Are interest rates different in Scarbro compared to larger West Virginia cities like Charleston?
Mortgage interest rates are generally standardized nationally, but your final rate in Scarbro will depend more on your credit profile and loan type. However, using a local community bank or credit union that services loans in Fayette County can sometimes offer competitive terms or more flexible underwriting for unique property types common in the area, which can be advantageous.
Why Choose a Mortgage Lender in Scarbro?
Local Market Knowledge
Lenders who understand Scarbro'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 Scarbro and get competitive rates on your home loan.