Best Mortgage rates/deals in Northern Virginia

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Best Mortgage rates/deals in Northern Virginia

Rob Halpert
Woodbridge, VA · Member since 2017 · 5 posts · 0 votes

I have a fantastic, albeit relatively short, credit history. So I believe i could be approved for the majority of mortgages out there. My question now is how do i find the best deal? 

I've been doing research on various mortgage lenders in my area (Northern Virginia) and i invariable hear that the best deals can be found from the mom and pop credit unions/banks. If anyone in the NOVA area has had a great mortgage buying experience from a specific lender i'd like to hear about it!

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    9y

    Credit unions may advertise the best rates, but you won't get an offer accepted in the DC area using one as your lender because credit unions, especially federal ones tend to screw up the transaction. In a competitive housing market it is much more more important to use a lender that can close the deal and close it on time instead of trying to shave off an eight of a point.

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  • Tanya S.
    Rental Property Investor · Arlington, VA · Member since 2013 · 121 posts · 46 votes
    9y

    Hi @Rob Halpert Cannot agree more with @Russell Brazil on this one. My very first home purchase in 2007, I used a federal credit union because of their low rates, and I almost lost the house because the credit union could not get the loan closed on time. It took numerous phone calls from my agent and myself to random people in some outsourced office halfway across the country and weeks of stress to finally get the loan closed (and only because the seller agreed to an extension at the last minute). In this competitive market, go with a local lender who can get the deal done. The best deals go quickly and fast, and you want a lender who will add to the strength of your offer, not detract from it. 

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