Top 5 FHA Lenders in Virginia 2019

mixed-race-family-young-smiling-outside-homeowners (1).jpg

Home Buyers looking for the best lenders in Virginia have a lot of shopping around to do. Virginia is home to a little over 8 million people, and with today’s mortgage rates as low as they are, the housing market is ready for serious home buyers. Home values have increased by roughly 4.1 percent between December of 2017 through 2018 and are forecasted to rise another 3.1% through 2019.

The upward trend of rising home values makes it the prime time for home buyers on the market for a mortgage loan to do everything they can to keep their housing costs as low as possible. Getting a great mortgage would probably be the best place to start. And, since FHA loans offer low interest rates, down payments as little as 3.5%, and an ultra-low 580 credit score requirement, they’re often some of the most desirable loans for home buyers like you.

In this article, we’ll review the best FHA approved lenders in Virginia and how they can help you on your quest to home ownership.

2019 Virginia FHA Lender Best Picks

  • Best for First Time Home Buyers: Loan Depot

  • Best Online Experience: Guaranteed Rate

  • Best Local Lender: Integrity Home Mortgage Corporation

  • Best Face-to-Face Experience: U.S. Bank

  • Best Overall Performance: Quicken Loans/Rocket Mortgage

#1 Virginia FHA Lender: Loan Depot

As large as Loan Depot has become since it’s inception, there is no surprise that it would make a list such as this one. Truly a powerhouse when it comes to home finance, Loan Depot is no stranger to FHA mortgages and the borrowers who need them.

The loan officers under the employ at Loan Depot are highly knowledgeable and well-trained individuals. Their expertise is shown clearly in the speed and ease of the mortgage transactions they take part in, And their uncompromised goal of providing down to the decimal quotes that hold true through closing, leaving the borrower with no surprises.

Customer service is a big deal for the loan depot team, and they typically do not disappoint. Past clients have been stunned by the lower than expected rates and fees, combined with speedy closings.

#2 Virginia FHA Lender: U.S. Bank

With a history dating all the way back to 1863, U.S. Bank is the farthest thing from the new kid on the block. Its strong presence in today’s mortgage market is a testament to their deep commitment to providing affordable home loans with excellent service.

U.S. Bank is well known for their knowledgeable staff and expert loan officers. Chances are, no matter what a borrower’s financial situation may look like, they can come up with a solution.

Experience often trumps trendy advancements, and the face-to-face personalized mortgage services offered by U.S. Bank are a shining example of this. Home buyers never have to worry about a lack of communication or being rushed, and will be treated with the same respect and due diligence as their big-name clients.

#3 Virginia FHA Lender: Guaranteed Rate

A Kingpin of the online mortgage trend that plays a large role in FHA financing is Guaranteed Rate. Their participation in the digital mortgage wave leaves many other platforms lacking by comparison.

Guaranteed Rate is also extremely experienced with the origination of FHA loans. FHA financing through one of the best digital mortgage platforms available makes them serious competition to other FHA lenders, and highly favored among repeat and first time home buyers. FHA products are one of highest selling loans through guaranteed rate.

The online platform makes securely uploading the important financial documentation requested for a loan approval fast and easy. Borrowers can even check their credit scores through the service, rather than go elsewhere. Guaranteed Rate is one of the rare few digital mortgage platforms where a mortgage loan can be closed without ever needing to speak with someone unless requested by the home buyer.

#4 Virginia FHA Lender: Quicken Loans/Rocket Mortgage

The amazing team over at quicken loans has truly set the standard for the online mortgage experience. In the State of Washington, Rocket Mortgage (a division of Quicken Loans) and Quicken Loans have made the otherwise long and tedious process of FHA financing as simple and straightforward as possible.

The online FHA loan process is highly geared towards a streamlined user experience. Progress on the status of an FHA loan application can be easily tracked online, and preapproval for an FHA loan can be completed in a matter of minutes.

The service even keeps applicants posted with any documentation they may have forgotten or still need to provide. The really impressive part happens to be the support staff that can be reached by phone or through the website that is always standing by to offer their advisory services and answer any questions a potential borrower may have.

#5 Virginia FHA Lender: Integrity Home Mortgage Corporation

There is no doubt that the loan officers employed by Integrity Home Mortgage Corporation are chock full of integrity, as many client reviews confirm. Their staff is comprised of forward-thinkers who take the time to secure the best mortgage loans for their clients.

One of the biggest strengths found in the group at Integrity is adaptability. They put their cards on the table and don’t cut any corners, gaining their wins through hard work and dedication.

Borrowers will be met with a high energy team who have the right answers to the vast sea of mortgage questions. And as many previous clients have pointed out, they’re even able to provide mortgages with lower than average fees.

Shop Around Before You Get a Virginia FHA Loan

Our picks for the best FHA lenders in Virginia may not necessarily represent the best lender for your financial situation, goals, and desires. Everyone’s story is unique, and sometimes the best mortgage terms can be found in the most obscure places. As a home buyer, regardless of experience or lack thereof, the best plan of action is to shop around with multiple lenders to find out which one can provide the ideal home loan that comes with the terms and affordability that best suits any particular financial situation.

While looking at reviews can be a huge help, getting a one on one consultation could mean saving thousands. If you’d like some help in locating the best FHA lender in your area, don't hesitate to contact a home.loans mortgage expert!