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9 best mortgage lenders in Virginia

One of these lenders is likely to be your best bet if you’re hoping to buy a home in Virginia.

From the Chesapeake Bay to the foothills of Appalachia, the best mortgage lenders in Virginia can help you buy a home you’ll love.

What are the best mortgage lenders in Virginia?

How we pick mortgage lenders

We chose these mortgage lenders based on their rates, fees, requirements and website features. We also considered customer reviews from Zillow, Trustpilot and the Better Business Bureau (BBB), among other sites. Learn more about our rating methodology.

Best online experience

Better

See rates
on Better's secure site
There are hundreds of mortgage lenders in Virginia, but few have a website as user-friendly as the one developed by Better. Better’s website ranks as the best in terms of both features and usability. Whether you pull up the website on a laptop, tablet or smartphone, you’ll likely find it easy to navigate, and the application process is equally intuitive. Plus, Better can price-match other mortgage providers, and this lender waives origination fees in many instances.

Best marketplace

LendingTree

See rates
on LendingTree's secure site

Unlike the other mortgage providers on this list, which are all direct lenders, LendingTree is a mortgage marketplace that lets you compare rates from various lenders throughout Virginia. Simply answer a few questions about the type of loan you’re in the market for, and LendingTree will present you with a list of lenders and their rates.

LendingTree can save you a ton of time when comparing lenders, but the company shares your contact information with third parties, which is a major turn-off for many of its customers.

Rocket Mortgage

See rates
on Rocket Mortgage's secure site

There are many well-liked mortgage lenders in Virginia, but Rocket Mortgage by Quicken Loans ranks as the most popular of the pack. This lender has a strong presence in the state, partially because it makes the borrowing process simple.

When you apply for a loan from Rocket Mortgage, you could qualify for a conditional prequalification in mere minutes. Plus, Rocket Mortgage offers more home loan programs than many other Virginia lenders, and you may even get approved if you have a low credit score.

Best for customer service

Veterans United

See rates
on Veterans United's secure site

Getting a great mortgage rate is a priority for many hopeful homebuyers, but customer service can be even more important. And compared to other lenders in Virginia, Veterans United has the best customer service in the state. As of December 2020, this lender has an excellent rating of 4.9 out of 5 based on more than 5,800 reviews on Trustpilot. And on Zillow, it has a score of 4.8 out of 5 based on nearly 4,000 reviews.

It's also worth noting that you aren't required to be a service member to get a mortgage with Veterans United, but vets generally get more attractive rates and terms than civilians do.

Best for first-time homebuyers

Freedom Mortgage

Buying your first home can feel overwhelming if you’re not sure where to begin. But Freedom Mortgage might put your mind at ease. This lender offers FHA loans for first-time homebuyers, which tend to be more affordable than other programs. And even borrowers with bad credit or low-to-moderate income levels may still get approved.

Best for refinancing

BNC National Bank

Perhaps you already own a home in Virginia, but you’re looking to get a better rate by refinancing. Many lenders in the state can help you, but BNC National Bank tends to be the best all-around choice. This full-service bank offers quality customer service and some of the most competitive refinancing rates in Virginia, plus it’s a top provider of government-backed VA loans.

Best for a wide range of credit scores

PennyMac

It’s no secret that your credit score plays a critical role when it comes to getting a home loan. And although many lenders in Virginia require you to have a high score to get approved, PennyMac is more lenient in this area. Even if your credit score is as low as 580, this lender may still approve you for a mortgage.

Best rates

Bank-Fund Staff Federal Credit Union

For many homebuyers, choosing a lender comes down to finding the one that offers the most competitive mortgage rates. And in Virginia, that lender is usually Bank-Fund Staff Federal Credit Union (BFSFCU).

Unfortunately, not everyone is eligible to join this financial cooperative, so BFSFCU might not be an option for you. But if you work for the World Bank Group, the International Monetary Fund or a select few other companies, you’re likely to find unbeatable rates with this lender.

Best regional lender

Freedom Bank

While there's certainly no shortage of mortgage providers in Virginia, most of the lenders that operate in the state are headquartered hundreds — or thousands — of miles away. While that's certainly not a deal-breaker for everyone, some hopeful homeowners want to work with a lender that has longstanding ties to Virginia. And among all the lenders based in the state, Freedom Bank is the best. This Chantilly-based bank focuses on helping first-time homebuyers and those seeking affordable loans. This lender also offers a streamlined application process that many customers appreciate.

How do I choose the best lender for me?

Choosing the best Virginia mortgage lender for your needs can be a challenging task, but you’ll be more likely to have a positive experience by keeping these tips in mind:
  • Peruse all reviews. Before applying for a mortgage from a particular lender, read customer reviews on sites such as Zillow, Trustpilot and the BBB.
  • Collect multiple preapprovals. By having more than one preapproval from competing lenders, you’ll be more likely to get the best rate and terms possible.
  • It never hurts to negotiate. Instead of accepting the first rate you’re offered, ask the loan officer if there’s room to reduce it by a few tenths of a point.
  • Don’t sign anything you haven’t read. Remember, your finances are on the line, so read every word of a loan agreement before signing it.

Compare mortgage lenders

Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.

Name Product Loan products offered State availability Min. credit score
SoFi
(NMLS #1121636)
SoFi
Conventional, Home equity, Refinance
Not available in: HI, MO, NM, NY, WV
620
No hidden fees, multiple loan terms, and member discounts available.
Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
620
Streamline your mortgage from quote to final payment — all from your computer or phone.
Better
(NMLS #330511)
Better
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
620
Online preapproval in minutes and no origination fees with this direct lender.
LendingTree
(NMLS #1136)
LendingTree
Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Available in all states
620
Connect with vetted home loan lenders quickly through this online marketplace.
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Compare up to 4 providers

Average rates and fees in Virginia

As of December 10, 2020, the average 30-year fixed-mortgage rate in the US is 2.92%, but it’s currently slightly lower in Virginia. According to the Consumer Financial Protection Bureau (CFPB), rates on 30-year fixed-rate mortgages in Virginia average 2.875%. And according to 2019 data from ClosingCorp, Virginia closing costs averaged 1.8% of the sales price, which is marginally lower than 2% to 5% it costs in several other states.

What about brokers?

Depending on how much time you’re willing to invest in finding the best mortgage lender for your needs, identifying the best one can take several hours, if not days or weeks. For that reason, many Virginians opt to work with mortgage brokers. Working with a broker can save you a substantial amount of time — and money — but not all brokers are trustworthy. If you’re interested in working with a broker, spend some time reading as many recent reviews as you can before doing business with them.

Bottom line

Each of the best mortgage lenders in Virginia has its advantages and drawbacks, but not all of them are likely to be right for you. Compare what they each have to offer, and apply for a home loan from the provider best suited to your situation. Start the application process now, or compare other mortgage lenders in Virginia.

Home loans ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top home loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, product selection and borrower experience.

Read the full methodology of how we rate home loan providers.

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