Virginia Mortgage Rates

August 1, 2015 01:44 AM Eastern

Refinance rates now in RICHMOND, VA [Change this]

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Home Price (Purchase)
When you get a mortgage to purchase a home, the lender uses the lower of the agreed-upon purchase price or the property's appraised value to determine your maximum loan amount. The loan amount divided by the property home price equals your loan-to-value ratio, or LTV. That ratio is one of the major factors that lenders use to set your mortgage rate. If your LTV exceeds 80 percent, you'll probably be required to pay mortgage insurance, which increases your monthly payment. If the property appraises for less than the agreed-on purchase price, you are not usually required to complete the purchase.
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Home Value (Refinance)
This is your estimate of the current value of your property. When you refinance, your home is almost always evaluated by a licensed appraiser. The refinance loan amount divided by the property's appraised value equals your loan-to-value ratio (LTV), and that number is one of the major factors that determine your mortgage rate. To get an accurate refinance rate quote, your home value estimate must be reasonably accurate.
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Down Payment
The down payment is the amount you pay upfront when you finance property. Your purchase price minus your down payment equals your mortgage amount. The higher your down payment, the more likely you are to be approved for a home loan. If your down payment is less than 20 percent of the purchase price, you'll probably be required to pay for mortgage insurance, which increases your monthly payment.
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Credit Score
Your credit score is a number designed to measure your credit-worthiness. It's based on a formula that combines many factors, including your payment history, amount of credit used and number of accounts. This number is used by lenders to calculate the probability that you'll default on your mortgage. Most lenders won't approve mortgages to applicants with credit scores lower than 620. Your credit score is one of the most important factors that determines your mortgage rate - applicants with higher scores are offered better mortgage rates.

30 Year Fixed

Interest Rate
3.375%
APR
3.563%
Monthly Payment
$884
Smarter Mortgages
30 Year Fixed
Be the first to write a review.
NMLS: 104234
Interest Rate
3.375%
APR
3.563%
Monthly Payment
$884
(855) 610-2935 Contact
Smarter Mortgages
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $884
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $884
Lender Fees $4,625
Lender Credit $250
Total Closing Fees* $4,375
*Other 3rd party fees may apply
Smarter Mortgages
Email Lender

About the Lender

An INC 5000 Company for the Past Four Years! At Smarter Mortgages, we've centralized the entire mortgage process from start to finish. Unlike traditional banks or brokers who must send your applications to several different locations for approval and closing, we have every step located under one roof. This allows us to provide a consistent process, lower costs, and greatly reduce the possibility of errors or delays. Our licensed Mortgage Managers are located beside our entire operations team and have access to our underwriters, loan committee and management team. This is not the industry norm, however, we feel that there must be open and timely communication to ensure quick decisions and one time closings.
Smarter Mortgages
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Lender Reviews

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Sebonic Financial
30 Year Fixed (FHA)
Interest Rate
3.250%
APR
4.220%
Monthly Payment
$1,005
(866) 544-4064 Contact
Sebonic Financial
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $871
Estimated Mortgage Insurance Payments $134
Total Monthly Mortgage Payment $1,005
Lender Fees $6,202
Lender Credit $0
Total Closing Fees* $6,202
*Other 3rd party fees may apply
Sebonic Financial
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About the Lender

Sebonic Financial is a division of Cardinal Financial Company, a full service mortgage banking firm in operation since 1987.  The company is an approved seller/servicer for Fannie Mae, Freddie Mac and Ginnie Mae. Cardinal is also an approved lending institution for the Department of Housing and Urban Development/Federal Housing Administration and the Department of Veteran Affairs/Veterans Administration with FHAs Direct Endorsement and VA Automatic Lender Authority.  Cardinal is an authorized lender for the USDA/Rural Housing Program, the Pennsylvania Housing Finance Agency and the New Jersey Mortgage Housing Finance Agency.

 

Cardinal is licensed by the Departments of Banking in many states, mainly in the eastern and southeastern United States.  Its retail and wholesale divisions originate first mortgage loans for qualified borrowers.

Sebonic Financial
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Lender Reviews

Worked for me

Yes, I recommend this lender

After a bad try at a loan with Loan Depot it was a pleasure to deal with these people. Rate and costs were ok.

By: Anonymous (Miami)

Very Honest

Yes, I recommend this lender

They met all of their commitments. Totally issue and stress free process.

By: Alan (South Carolina)

The MOST ill-informed loan officers!

Yes, I recommend this lender

Last week I called and spoke to a loan officer bc I had a special situation involving a personal BK that was discharged 4 years prior.. so per FNMA guidelines I was passed the waiting period and eligible for a new mortgage. I wanted to sell my house (iib) and before we even got to the loan qualification part.. the loan officer told me I could NOT sell my house as I am no longer the owner. The bank is the rightful owner since I went through bk. I told him he was wrong and I disagreed.. He check with his underwriter.. and confirmed he was correct. YOU LOST A LOAN BUDDY DUE TO YOUR LACK OF KNOWLEDGE! I would imagine other loan officers at Sebonic have the same training. DON'T WASTE YOUR TIME WITH THESE PEOPLE. GO TO A FIRM THAT FULLY UNDERSTAND THE BUSINESS!

By: TLBC (RALEIGH, NC)
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Consumer Direct Mortgage, a division of FirstBank
30 Year Fixed (FHA)
Interest Rate
3.250%
APR
4.156%
Monthly Payment
$1,005
(855) 997-1825 Contact
Consumer Direct Mortgage, a division of FirstBank
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $871
Estimated Mortgage Insurance Payments $134
Total Monthly Mortgage Payment $1,005
Lender Fees $4,724
Lender Credit $0
Total Closing Fees* $4,724
*Other 3rd party fees may apply
Consumer Direct Mortgage, a division of FirstBank
Email Lender

About the Lender

At Consumer Direct Mortgage, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention.You are our priority and we know that superior service, delivering what was offered, coupled with the lowest overall cost is the way to keep you as a customer for life. In a lending environment where everyone is offering the same core products and programs, we know that we have to separate ourselves with an unwavering commitment to services and delivering the lowest overall total cost to close every day. Our sales and operations team is comprised of veteran Mortgage Professionals that are committed to this philosophy and understand what it takes to get the job done on time and at the agreed upon terms and conditions presented.
Consumer Direct Mortgage, a division of FirstBank
Email Lender Write a Review

Lender Reviews

Highly recommend!

Yes, I recommend this lender

Incredibly attentive. An absolute joy to work with. Highly recommend!

By: hk4394 (Milton, FL)

Mikes Refinance

Yes, I recommend this lender

Had a great experience with Consumer Direct. It was a non painful refinance and a great rate. Pat and Jamie were a pleasure to work with and always responded to me in a timely manner, whether it be by email or phone. 2 thumbs up!!!!

By: Anonymous (Boynton Beach, FL)

Mikes Refinance

Yes, I recommend this lender

I had a great experience working with Consumer Direct. Very professional, caring and actually returned my calls right away when I had any questions or concerns about my loan. I would highly recommend this company. (and I got a great rate!!!!) Mike

By: Robinson (Boynton Beach, FL)
See All Reviews

15 Year Fixed

Interest Rate
2.500%
APR
2.851%
Monthly Payment
$1,334
Smarter Mortgages
15 Year Fixed
Be the first to write a review.
NMLS: 104234
Interest Rate
2.500%
APR
2.851%
Monthly Payment
$1,334
(855) 610-2935 Contact
Smarter Mortgages
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $1,334
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,334
Lender Fees $4,875
Lender Credit $0
Total Closing Fees* $4,875
*Other 3rd party fees may apply
Smarter Mortgages
Email Lender

About the Lender

An INC 5000 Company for the Past Four Years! At Smarter Mortgages, we've centralized the entire mortgage process from start to finish. Unlike traditional banks or brokers who must send your applications to several different locations for approval and closing, we have every step located under one roof. This allows us to provide a consistent process, lower costs, and greatly reduce the possibility of errors or delays. Our licensed Mortgage Managers are located beside our entire operations team and have access to our underwriters, loan committee and management team. This is not the industry norm, however, we feel that there must be open and timely communication to ensure quick decisions and one time closings.
Smarter Mortgages
Email Lender Write a Review

Lender Reviews

Be the first to write a review. See All Reviews
Consumer Direct Mortgage, a division of FirstBank
15 Year Fixed
Interest Rate
2.750%
APR
2.912%
Monthly Payment
$1,358
(855) 997-1825 Contact
Consumer Direct Mortgage, a division of FirstBank
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $1,358
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,358
Lender Fees $2,250
Lender Credit $0
Total Closing Fees* $2,250
*Other 3rd party fees may apply
Consumer Direct Mortgage, a division of FirstBank
Email Lender

About the Lender

At Consumer Direct Mortgage, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention.You are our priority and we know that superior service, delivering what was offered, coupled with the lowest overall cost is the way to keep you as a customer for life. In a lending environment where everyone is offering the same core products and programs, we know that we have to separate ourselves with an unwavering commitment to services and delivering the lowest overall total cost to close every day. Our sales and operations team is comprised of veteran Mortgage Professionals that are committed to this philosophy and understand what it takes to get the job done on time and at the agreed upon terms and conditions presented.
Consumer Direct Mortgage, a division of FirstBank
Email Lender Write a Review

Lender Reviews

Highly recommend!

Yes, I recommend this lender

Incredibly attentive. An absolute joy to work with. Highly recommend!

By: hk4394 (Milton, FL)

Mikes Refinance

Yes, I recommend this lender

Had a great experience with Consumer Direct. It was a non painful refinance and a great rate. Pat and Jamie were a pleasure to work with and always responded to me in a timely manner, whether it be by email or phone. 2 thumbs up!!!!

By: Anonymous (Boynton Beach, FL)

Mikes Refinance

Yes, I recommend this lender

I had a great experience working with Consumer Direct. Very professional, caring and actually returned my calls right away when I had any questions or concerns about my loan. I would highly recommend this company. (and I got a great rate!!!!) Mike

By: Robinson (Boynton Beach, FL)
See All Reviews

5/1 ARM

Interest Rate
2.250%
APR
2.866%
Monthly Payment
$764
Smarter Mortgages
5/1 ARM
Be the first to write a review.
NMLS: 104234
Interest Rate
2.250%
APR
2.866%
Monthly Payment
$764
(855) 610-2935 Contact
Smarter Mortgages
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $764
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $764
Lender Fees $2,125
Lender Credit $750
Total Closing Fees* $1,375
*Other 3rd party fees may apply
Smarter Mortgages
Email Lender

About the Lender

An INC 5000 Company for the Past Four Years! At Smarter Mortgages, we've centralized the entire mortgage process from start to finish. Unlike traditional banks or brokers who must send your applications to several different locations for approval and closing, we have every step located under one roof. This allows us to provide a consistent process, lower costs, and greatly reduce the possibility of errors or delays. Our licensed Mortgage Managers are located beside our entire operations team and have access to our underwriters, loan committee and management team. This is not the industry norm, however, we feel that there must be open and timely communication to ensure quick decisions and one time closings.
Smarter Mortgages
Email Lender Write a Review

Lender Reviews

Be the first to write a review. See All Reviews
Consumer Direct Mortgage, a division of FirstBank
5/1 ARM
Interest Rate
2.500%
APR
3.014%
Monthly Payment
$791
(855) 997-1825 Contact
Consumer Direct Mortgage, a division of FirstBank
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $791
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $791
Lender Fees $2,856
Lender Credit $0
Total Closing Fees* $2,856
*Other 3rd party fees may apply
Consumer Direct Mortgage, a division of FirstBank
Email Lender

About the Lender

At Consumer Direct Mortgage, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention.You are our priority and we know that superior service, delivering what was offered, coupled with the lowest overall cost is the way to keep you as a customer for life. In a lending environment where everyone is offering the same core products and programs, we know that we have to separate ourselves with an unwavering commitment to services and delivering the lowest overall total cost to close every day. Our sales and operations team is comprised of veteran Mortgage Professionals that are committed to this philosophy and understand what it takes to get the job done on time and at the agreed upon terms and conditions presented.
Consumer Direct Mortgage, a division of FirstBank
Email Lender Write a Review

Lender Reviews

Highly recommend!

Yes, I recommend this lender

Incredibly attentive. An absolute joy to work with. Highly recommend!

By: hk4394 (Milton, FL)

Mikes Refinance

Yes, I recommend this lender

Had a great experience with Consumer Direct. It was a non painful refinance and a great rate. Pat and Jamie were a pleasure to work with and always responded to me in a timely manner, whether it be by email or phone. 2 thumbs up!!!!

By: Anonymous (Boynton Beach, FL)

Mikes Refinance

Yes, I recommend this lender

I had a great experience working with Consumer Direct. Very professional, caring and actually returned my calls right away when I had any questions or concerns about my loan. I would highly recommend this company. (and I got a great rate!!!!) Mike

By: Robinson (Boynton Beach, FL)
See All Reviews
Mortgage rate quotes displayed on LendingTree LoanExplorer℠, including loan pricing data, rates and fees, are provided by third party data providers including, but not limited to, Mortech®, a registered trademark of Zillow®, LoanXEngine, a product of Mortgage Builder Software, Inc., and LoanTek, Inc.

Mortgage Rate Trends

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VA Mortgage Rates for Home Ownership Loans
Virginia was ranked one of the best states to live in by Money Magazine’s "Best Places to Live" survey respondents in 2006 and 2007. It is home to beautiful mountains, rushing rivers, pristine beaches and 34 state parks. It’s no wonder that tourism is one of the state's most profitable industries.

Residents of this beautiful state can take advantage of various programs available to help them become homeowners. The Virginia Housing Development Authority offers loans with 30-year, fixed-rate terms. These conventional fixed loans are offered at below market interest rates, with low monthly payments, and are available for applicants with good credit and who meet the income requirements.

FHA Virginia Mortgage Interest Rates
In addition to the conventional fixed loan programs, the Virginia Housing Development Authority offers programs in conjunction with Federal Housing Administration (FHA) Insured Loans. These types of loans offer the following features:

• less strict approval qualifications
• low down payments
• fixed monthly payments
• competitive VA mortgage rates

The FHA Plus loan is available to assist Virginia home buyers with their down payment and closing costs. This type of loan qualifies as a second mortgage, and also features low, fixed monthly payments.

Veterans Affairs (VA) Loan Programs and Virginia Mortgage Interest Rates
Virginia has long been part of America's military history, dating back to the Revolutionary War. It’s no wonder that special programs are in place to help veterans become homeowners in return for their service to our nation. The Department of Veterans Affairs has loans that:

• are below the market for Virginia mortgage interest rates
• offer fixed monthly payments
• allow up to 100 percent financing

VA loans are made available through participating lenders who agree to work with and are approved by the Department of Veterans Affairs, which acts as a guarantor of your loan once it’s approved by the lender.

VA Mortgage Rates for Rural Housing Services Guarantee Loans
Rural Housing Services (RHS) Guarantee loans have below market VA mortgage interest rates, and are designed to help VA residents acquire, build or improve single family dwellings in state-approved rural areas. Similar to the VA loan, the RHS loan program offers loans that:

• are obtained through participating lenders, and guaranteed by the government
• may offer $0 down payments
• require low, fixed monthly payments