Financing Your Virginia Property
Whether you crave city life, or yearn for peaceful country living, few states have as many lifestyle choices as Virginia. No matter your definition of “dream living” – condo, cabin or Colonial, eLEND can provide you with many affordable options to get you into your ideal home.
We offer a wide variety of home financing solutions for primary residences, second homes, and investment properties. Give us a call today at (800) 634-8616 for a consultation on your Virginia home loan needs.
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Home Financing Programs
Explore Some Less Well Know Home Loan Options from eLEND
eLEND’s conventional fixed-rate and adjustable rate mortgages with attractive interest rates remain among the most popular choices for Virginia homebuyers. But here are a few options you may not have known about:
- Townhouse Loans – Condominiums provide easy, modern living in Virginia, whether you dream of living by the ocean or in the vibrant suburbs just outside the nation’s capital. eLEND offers several financing options for townhomes.
- 203k Rehab Loans – If you have your eye on an old Colonial home in Williamsburg or one of Virginia’s many other historic towns, you may be able to finance repairs and improvements with a 203k Rehabilitation loan.
- VA Loans – Eligible military veterans and certain active duty service men and women can purchase a home with zero money down through a loan backed by the Veteran’s Administration. There are lots of affordable advantages to a VA loan.
- FHA Loans – Allow borrowers to purchase primary residences in the State of Virginia with as little as 3.5% down.
- USDA Loans – A 100% financing program designed for middle and lower income borrowers in rural areas of the State.
Virginia Mortgage Refinancing
Find Conventional, FHA, VA, USDA & Jumbo Refinancing Options
eLEND offers a wide variety of home refinancing programs to meet the needs of Virginia homeowners. We offer both rate-and-term and cash-out refinancing solutions to qualifying borrowers. For people who currently have FHA, USDA, or VA loans, be sure to ask us about our streamline refinancing options which may save you time and money.
Virginia Mobile Home Financing
Factory-built homes have improved dramatically in the past few years, with more luxury features and better quality materials than ever before. Fortunately, they’re still one of the most affordable options for Virginians who dream of owning their own home. It can sometimes be tough to find a lender willing to help you finance a manufactured home, but eLEND is proud to offer a specialty program just for mobile home buyers.
Mobile Home Loan Facts & Eligibility Details
We offer a specialized Federal Housing Administration loan designed just for mobile home financing that allows you the security of a fixed loan and a competitive interest rate.
Here are some of the requirements for an eLEND mobile home loan program:
- The loan must cover both the home and the permanent foundation it is set upon.
- The home must be a minimum of 400 square feet.
- The mobile home cannot be located in a mobile home park.
- The home must conform to federal safety and construction standards and must have been built after June 15, 1976.
Refinancing Your VA Mobile Home
If you already own a manufactured home in Virginia, you may be able to refinance it to make improvements, consolidate your debt or lower your monthly payment. Let an eLEND professional give you all the details over the phone, or request a quote by filling out the form on this page.
FHA Home Loans in Virginia
eLEND proudly offers insured, affordable loan options throughout the Commonwealth. If you dream of living on Virginia’s scenic coast, in the rolling hills of the Appalachians or somewhere in between, eLEND can help you purchase the home you’ve always wanted with assistance through the Federal Housing Administration.
Why Consider an FHA Loan?
If you’re a first-time homebuyer, or have some credit issues, an FHA mortgage can be a good choice for you. Since these loans are insured by the federal government, they can offer down payments as low as 3.5 percent. Those who qualify can even avoid having to pay private mortgage insurance, or PMI, although other types of insurance will be necessary.
The FHA home loan program has been around since 1934, and has grown to become one of the largest insurers in the country. An FHA loan through eLEND can help qualified Virginia residents own a home even with incomes that are considered low to moderate. FHA loans can be made on single or multi-family homes, and even most manufactured homes.
eLEND offers both 30 and 15 year fixed-rate FHA loans with attractive interest rates. If you haven’t been able to qualify for a conventional loan because of a past bankruptcy or foreclosure, you may still be able to take advantage of an FHA loan. To learn more, reach out to a caring eLEND representative by calling (800) 634-8616.
If you already have an existing FHA loan, talk with an eLEND professional about unique refinancing options that can help you free up some cash or lower your monthly expenses.
Zero Down USDA Financing in Virginia
Virginia boasts some of the prettiest small cities and towns in the nation. It’s hard to find a better quality of life than in areas like Charlottesville, Blacksburg or Roanoke. You will be pleased to know that many of the Commonwealth’s best places to live are eligible for a no money down mortgage program backed by the USDA.
Benefits of a USDA Rural Housing Loan
Mortgages insured by the USDA offers a variety of cost-saving benefits. They have aggressively priced fixed interest rates and it may be possible to finance 100 percent of the value of a home.
The program was formed to encourage people to consider the advantages of owning a home in the nation’s less-developed regions. However, even some areas just outside Richmond and Newport News fall under this category.
In most cases, a USDA Rural Housing Loan can be used for both new and existing property. Sellers may be permitted to contribute to the closing costs.
Some Basic USDA Housing Loan Guidelines
- The home you purchase must be your primary residence.
- Certain income guidelines apply, and vary by region.
- The home must be located in an area considered geographically eligible.
Consult the USDA Rural Development website for an eligibility map to see if your Virginia neighborhood qualifies.
A USDA Rural Housing loan through eLEND could be a good option if you want the security of a fixed-rate mortgage and need help with those initial out-of-pocket expenses. A seasoned eLEND expert can help you learn if you qualify. Call us today at (800) 634-8616 and let us guide you through all the eligibility requirements. You can learn more about different home financing options in Virginia here.