NMHL Mortgage Lending
Mortgage Lender in Virginia Beach, VA
Local expertise and competitive rates for Virginia Beach homebuyers.
Virginia Beach, VA, is a thriving coastal city with a diverse housing market. As of the latest data, the median home price in Virginia Beach stands at approximately $340,000, reflecting a steady increase in property values over the past few years. At National Mortgage Home Loans (NMHL), we understand the unique challenges and opportunities that come with buying or refinancing a home in this vibrant market. Our team is dedicated to providing personalized mortgage solutions tailored to the needs of Virginia Beach residents, from first-time homebuyers to seasoned homeowners looking to refinance or upgrade their properties.
With a range of mortgage programs, including FHA, VA, and conventional loans, NMHL is well-equipped to serve borrowers across the credit spectrum. Whether you're a veteran looking to utilize your VA benefits or a self-employed individual seeking a mortgage that accommodates your unique financial situation, our experienced loan officers are here to guide you through the process. We pride ourselves on our ability to navigate complex financial situations and find creative solutions that help our clients achieve their homeownership goals.
As a trusted mortgage lender in Virginia Beach, NMHL is committed to delivering exceptional customer service and competitive rates. Our local expertise and deep understanding of the Virginia Beach housing market enable us to provide valuable insights and guidance throughout the mortgage process. By choosing NMHL, you can trust that you're in good hands as you navigate the journey to homeownership or refinance your existing mortgage.
Virginia Beach Housing Market Overview
Explore mortgage options in Virginia Beach, VA with NMHL. Our local expertise helps you navigate the Virginia Beach real estate market with competitive rates and personalized service.
See What You Qualify For
Takes about 5 minutes. No obligation. No credit check until you are ready.
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 Virginia Beach
Explore mortgage options tailored to Virginia Beach 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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Understanding the Virginia Beach Housing Market
The Virginia Beach housing market is characterized by a diverse range of neighborhoods, from beachfront communities to suburban areas. The median home price is around $340,000, with prices varying depending on factors like location, property type, and amenities. As a buyer, it's essential to understand the local market trends and conditions to make informed decisions.
- The Virginia Beach housing market is experiencing steady growth, with a 5% increase in median home prices over the past year.
- The average days on market for homes in Virginia Beach is around 30-60 days, indicating a relatively fast-paced market.
- New construction is on the rise, with many builders focusing on luxury homes and waterfront properties.
Stay ahead of the competition by getting pre-approved for a mortgage with NMHL. Our experienced loan officers will help you navigate the Virginia Beach housing market and find the right mortgage solution for your needs.
Popular Neighborhoods in Virginia Beach
Virginia Beach is home to a wide range of neighborhoods, each with its unique character and charm. Some of the most popular areas include:
- Croatan Beach: Known for its beachfront homes and vibrant community.
- Great Neck: A family-friendly neighborhood with highly rated schools.
- Kempsville: A suburban area with a mix of older and newer homes.
- North Beach: A coastal community with a relaxed atmosphere.
When searching for a home in Virginia Beach, consider factors like school districts, property taxes, and commute times to find the best fit for your lifestyle.
NMHL's local expertise can help you navigate the nuances of different neighborhoods in Virginia Beach and find the perfect home to suit your needs.
Mortgage Options for Virginia Beach Borrowers
At NMHL, we offer a range of mortgage programs designed to accommodate the diverse needs of Virginia Beach borrowers. Our loan options include:
- FHA loans: Ideal for first-time homebuyers or those with lower credit scores.
- VA loans: Available to eligible veterans, active-duty military, and surviving spouses.
- Conventional loans: Suitable for borrowers with strong credit and income.
- Jumbo loans: Designed for high-end borrowers or those purchasing luxury properties.
Our experienced loan officers will work with you to determine the best mortgage solution for your situation and guide you through the application process.
Don't let credit challenges hold you back from achieving your homeownership goals. NMHL's mortgage options can help you overcome obstacles and secure the financing you need.
Down Payment Assistance Programs in Virginia Beach
NMHL is committed to helping Virginia Beach borrowers overcome the hurdle of down payment and closing costs. We offer access to various down payment assistance programs, including:
- VHDA Down Payment Assistance Grant: Provides up to $7,500 in assistance.
- NMHL's own down payment assistance programs: Designed to help borrowers with limited funds.
Our loan officers will help you explore these options and determine the best fit for your situation. By combining down payment assistance with the right mortgage program, you can achieve your homeownership goals with more ease.
Take the first step towards homeownership with NMHL's down payment assistance programs. Contact us today to learn more and start your journey.
Frequently Asked Questions
The average effective property tax rate in Virginia Beach is approximately 0.80%. This means that homeowners can expect to pay around $2,720 annually in property taxes on a $340,000 home. It's essential to factor in property taxes when determining the overall cost of homeownership in Virginia Beach.
Virginia Beach is served by the Virginia Beach City Public Schools district, which is known for its strong reputation and highly rated schools. Homes located within the boundaries of top-performing schools tend to command higher prices and appreciate in value over time. When searching for a home in Virginia Beach, it's worth considering the local school district and its impact on property values.
First-time homebuyers in Virginia Beach can access various down payment assistance programs, including the Virginia Housing Development Authority (VHDA) Down Payment Assistance Grant. This program provides up to $7,500 in assistance, which can be used towards down payment and closing costs. NMHL can help you explore these options and determine the best fit for your situation.
While bad credit can present challenges, NMHL offers mortgage options for borrowers with less-than-perfect credit. We consider a range of factors beyond credit score, including income, employment history, and debt-to-income ratio. Our loan officers will work with you to identify the most suitable mortgage program and guide you through the pre-approval process.
NMHL offers a range of mortgage programs designed to accommodate the unique needs of self-employed borrowers. Our loan officers are experienced in handling complex income situations and can help you navigate the mortgage process. We consider alternative forms of income verification, such as bank statement loans, to provide more flexibility for self-employed individuals.
Getting pre-approved for a mortgage with NMHL is easy. Simply contact our team to schedule a consultation, and we'll guide you through the process. We'll review your financial situation, discuss your mortgage options, and provide a pre-approval letter to give you confidence when making an offer on a home in Virginia Beach.
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Ready to Buy in Virginia Beach?
Let NMHL help you navigate the Virginia Beach housing market with expert guidance and competitive rates.