The Best Mortgage Lenders in Union, WV
Compare verified mortgage lenders serving Union, West Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Union
Featured Mortgage Lenders
WV Federal Credit Union
WV Federal Credit Union
WV Federal Credit Union is one of West Virginia's most trusted mortgage lenders with extensive experience serving rural communities throughout the state. While based in Charleston, they actively serve Union and surrounding counties with personalized mortgage solutions. Their strong community focus, competitive rates for West Virginia residents, and expertise with USDA rural development loans make them particularly well-suited for Union homebuyers. Members consistently praise their local underwriting decisions and personalized service approach.
Loan Types:
City National Bank
City National Bank of West Virginia
As one of West Virginia's largest community banks, City National Bank has deep roots serving communities across the state, including Union and Monroe counties. They offer local mortgage decision-making and maintain strong relationships with real estate professionals throughout southern West Virginia. Their construction lending expertise is particularly valuable in rural areas like Union, and customers appreciate their straightforward application process and commitment to West Virginia communities.
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Union Home Mortgage
Union Home Mortgage Corp.
Union Home Mortgage has a strong presence throughout West Virginia with local loan officers who understand the unique needs of rural homebuyers in communities like Union. They specialize in USDA rural development loans, which are particularly relevant for Union area properties, and have earned excellent reviews for their responsive service and competitive rate options. Their experienced team handles the entire process locally, ensuring smooth closings and personalized attention for each borrower.
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Frequently Asked Questions
Common questions about mortgage lending in Union, WV
What are typical mortgage rates for homebuyers in Union, WV, and how do they compare to state or national averages?
Mortgage rates in Union, WV, are generally very competitive and often slightly below national averages due to the area's lower cost of living and property values. As a rural community, local lenders understand the market well, but it's always wise to compare offers from local credit unions, regional banks, and national lenders. Securing a pre-approval is the best way to lock in a personalized rate quote.
Are there any special down payment assistance or first-time homebuyer programs available specifically for Union, WV, residents?
Yes, Union and Monroe County residents have excellent access to the West Virginia Housing Development Fund (WVHDF) programs, which offer competitive interest rates and down payment/closing cost assistance to eligible first-time and repeat buyers. Additionally, local USDA Rural Development loans are a popular choice here, as much of the area qualifies for 100% financing with no down payment required.
How does the appraisal process work in Union, given its rural setting and potentially fewer comparable home sales?
Appraisals in a rural town like Union can be more nuanced, as appraisers may need to look at comparable sales ("comps") from a wider geographic area, including nearby towns like Peterstown or Gap Mills. Using a local lender familiar with Monroe County is beneficial, as they work with appraisers who understand how to properly value properties with land, outbuildings, and unique rural characteristics.
What type of property issues should I be especially mindful of during a home inspection when getting a mortgage in Union?
Given the age of many homes and the rural landscape, pay close attention to well and septic system conditions, as lenders will require these to be functioning properly. Also, be vigilant for signs of moisture or foundation issues in older stone or brick foundations common in historic Union homes. A thorough inspection is crucial for mortgage approval and your long-term peace of mind.
Are there any local Union or Monroe County property tax considerations that affect my monthly mortgage payment?
Property tax rates in Monroe County are relatively moderate, but it's important to understand that your mortgage lender will escrow for taxes based on the assessed value after purchase, which may differ from the previous owner's bill. The Monroe County Assessor's office can provide current millage rates, and your lender will calculate the precise amount to include in your monthly payment.
Why Choose a Mortgage Lender in Union?
Local Market Knowledge
Lenders who understand Union'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 Union and get competitive rates on your home loan.