NMHL Mortgage Lending
Mortgage Lender in Chesapeake, VA
Local expertise and competitive rates for Chesapeake homebuyers.
Chesapeake, Virginia, is a thriving coastal city with a diverse housing market. As of 2023, the median home price in Chesapeake stands at approximately $342,000, reflecting a steady increase in property values. At National Mortgage Home Loans (NMHL), we understand the unique needs of Chesapeake borrowers and offer a range of mortgage options tailored to this market.
Our expertise extends to helping underserved borrowers, including first-time homebuyers, self-employed individuals, and veterans. With NMHL, Chesapeake residents can access competitive rates and personalized service, whether they're purchasing a new home in the Hickory neighborhood or refinancing an existing property in Great Bridge.
NMHL's local knowledge and mortgage expertise make us the go-to lender for Chesapeake borrowers. We offer a variety of loan programs, including FHA, VA, and conventional loans, to suit different financial situations. Our team is committed to guiding you through the mortgage process, from pre-approval to closing.
Chesapeake Housing Market Overview
Explore mortgage options in Chesapeake, VA with NMHL. Our local expertise helps you navigate the Chesapeake real estate market with competitive rates and personalized service.
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Your Local Mortgage Partner
We understand the local market dynamics that affect your home purchase. Our team provides personalized loan options based on local property values and regulations.
Available Loan Programs in Chesapeake
Explore mortgage options tailored to Chesapeake homebuyers
First Time Home Buyer Mortgages
Special loan programs helping newcomers purchase their first home with favorable terms and support.
Learn MoreRefi-Shield
Learn MoreAdjustable-Rate Mortgage (ARM)
Financial flexibility and optimal rates with an Adjustable-Rate Mortgage – Your key to a dynamic homeownership journey
Learn MoreHigh-Value Appraisal Program
Learn MoreInterest Only Mortgages
Interest-only mortgages allow borrowers to pay only the interest for a set period, reducing initial monthly payments.
Learn MoreHome Equity Loans
Access the equity in your home with a fixed-rate home equity loan. Get a lump sum with predictable monthly payments for ...
Learn MoreFHA Loans
Federal Housing Administration (FHA) loans are government-backed mortgages designed to help first-time homebuyers and th...
Learn MoreFixed-Rate Mortgage
Lock in your interest rate for the life of the loan with a fixed-rate mortgage. Predictable monthly payments make budget...
Learn MoreBridge Loans
Bridge the gap between buying your new home and selling your current one. Short-term financing that gives you the flexib...
Learn MoreVA Loans
VA loans are a benefit earned by veterans, active-duty service members, and eligible surviving spouses. Backed by the De...
Learn MoreConventional Loans
Conventional loans are not backed by government agencies and typically offer the most flexibility for qualified borrower...
Learn MoreITIN Loans
Purchase a home using your Individual Taxpayer Identification Number (ITIN) without a Social Security Number. NMHL is co...
Learn MoreJumbo Loans
Jumbo loans exceed conforming loan limits and are designed for luxury properties and homes in high-cost areas. With comp...
Learn MoreDSCR Investment Loans
Debt Service Coverage Ratio (DSCR) loans qualify based on rental income rather than personal income. Perfect for real es...
Learn MoreBank Statement Loans
Bank statement loans are designed for self-employed borrowers and business owners who have difficulty documenting income...
Learn MoreReverse Mortgages
For homeowners 62 and older, reverse mortgages allow you to access your home equity without monthly payments. Stay in yo...
Learn MoreUSDA Mortgages
USDA Rural Development loans help moderate-income buyers purchase homes in eligible rural and suburban areas. With no do...
Learn MoreHeloc
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Chesapeake Neighborhoods: A Diverse Housing Market
Chesapeake is a diverse city with a range of neighborhoods to suit different lifestyles and preferences. Popular areas include Great Bridge, Hickory, and South Norfolk, each with its unique character and housing market trends. NMHL has extensive knowledge of these neighborhoods and can help you find the right mortgage solution for your new home.
- Great Bridge: Known for its historic downtown and waterfront properties
- Hickory: A growing area with new developments and family-friendly communities
- South Norfolk: A diverse neighborhood with a mix of older and newer homes
NMHL's local expertise can help you navigate the Chesapeake housing market and find the best mortgage options for your needs.
Mortgage Options for Underserved Borrowers in Chesapeake
At NMHL, we understand that not all borrowers fit the traditional mortgage mold. That's why we offer specialized loan programs for self-employed individuals, veterans, and those with bad credit. Our mortgage experts can help you explore these options and determine the best fit for your financial situation.
Our programs include:
- Self-Employed Mortgage: For borrowers with non-traditional income sources
- VA Loans: For eligible veterans and service members
- Bad Credit Mortgage: For borrowers with credit challenges
Don't let credit challenges or non-traditional income hold you back from achieving homeownership. Contact NMHL to explore your mortgage options.
Down Payment Assistance Programs in Virginia
The Virginia Housing Development Authority (VHDA) offers various down payment assistance programs to help homebuyers in Chesapeake and across Virginia. These programs can provide grants or matching funds to help with down payment and closing costs.
NMHL can help you navigate these programs and determine your eligibility. Some popular options include:
- VHDA Down Payment Assistance Grant: Up to $7,500 in assistance
- Virginia Individual Development Account (VIDA) Program: Matching funds for down payment and closing costs
Don't have enough savings for a down payment? NMHL can help you explore down payment assistance programs and find a mortgage solution that works for you.
Chesapeake's Thriving Housing Market: Trends and Insights
Chesapeake's housing market is experiencing steady growth, driven by its strong economy and desirable quality of life. The median home price has increased by 5% over the past year, with some neighborhoods seeing even higher appreciation rates.
NMHL's local market expertise can help you understand these trends and make informed decisions about your mortgage. Whether you're buying or refinancing, we can help you navigate the Chesapeake housing market with confidence.
Stay ahead of the curve with NMHL's market insights and mortgage expertise. Contact us to discuss your mortgage options in Chesapeake.
Frequently Asked Questions
Mortgage rates in Chesapeake vary depending on the loan program and borrower profile. At NMHL, we offer competitive rates starting from 6.5% APR for conventional loans. Contact us for a personalized rate quote and to discuss your mortgage options.
NMHL offers mortgage options for borrowers with less-than-perfect credit. Our Bad Credit Mortgage program considers credit scores as low as 580. We also offer credit counseling services to help improve your credit score and increase your chances of approval.
The average effective property tax rate in Chesapeake is 0.80%, which is slightly higher than the Virginia state average. Homeowners in Chesapeake can expect to pay around $2,736 per year in property taxes on a $340,000 home. NMHL can help you factor property taxes into your mortgage calculations.
Yes, Chesapeake borrowers can access various down payment assistance programs. The Virginia Housing Development Authority (VHDA) offers down payment assistance grants up to $7,500 for qualified homebuyers. NMHL can help you explore these options and determine your eligibility.
Chesapeake is served by the Chesapeake City Public Schools district, which is known for its high-quality education. Homes located in highly-rated school zones tend to appreciate in value over time. NMHL can help you understand how school districts impact home prices in Chesapeake and factor this into your mortgage planning.
NMHL offers specialized mortgage programs for first-time homebuyers, including FHA loans with down payments as low as 3.5%. We also provide education and counseling to help first-time buyers navigate the mortgage process and achieve homeownership.
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Ready to Buy in Chesapeake?
Let NMHL help you navigate the Chesapeake housing market with expert guidance and competitive rates.