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Guiding You Through

Your Homebuying Journey

Please fill out the form below to speak with aTowne Mortgage Professional

Learn About Our Loan Products

CONVENTIONAL
  • Up to 97% financing of your loan
  • Stable rate and principle payments
  • Easy-to-understand loan terms
  • Locks interest rate for the life
  • Competitive interest rates
  • 15 or 30 year terms
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FHA (Federal Housing Administration)
  • As little as 3.5% down payment
  • Less than perfect credit can apply
  • Guaranteed by the Federal Housing Authority
  • Seller can pay borrower closing costs
  • Fixed rate and adjustable rate options
Learn More
VA (Veterans Affairs)
  • Available to active and retired military
  • Up to 100% financing available
  • No private mortgage insurance
  • Reasonable Credit Qualifications
  • No Early payoff penalties
  • No downpayment required on most loans
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VH (Virginia Housing)
  • Available to Virginia residents
  • VA, FHA or conv. options for first time buyers
  • Low interest rates
  • Flexible down payment options
  • Income and sales price restrictions
Learn More
ARM (Adjustable Rate Mortgage)
  • Lower initial interest rates than fixed-rate mortgage
  • Flexibility for buyers who plan to move
  • Great for buyers who anticipate income increasing
  • Seller can pay borrower closing costs
  • Fixed rate and ARM options
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USDA (United States Department of Agriculture)
  • Created for rural areas
  • Up to 100% financing available
  • Little or no down payment options
  • Flexible credit guidelines
  • Seller can pay borrower closing costs
Learn More
Learn more about TowneBank Mortgage and how we can help you find the perfect home loan.
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Programs, rates, and fees are subject to change at any time without notice. This information provided is deemed reliable but not guaranteed. The information on this website is not an advertisement to extend customer credit as defined by Section 12 CFR 1026.2 Regulation Z. All mortgage financing is subject to credit and underwriting approval. Receipt of borrower’s application or inquiry does not represent an approval for financing or rate guarantee. TowneBank Mortgage is an Equal Housing Lender and Equal Opportunity Lender. Links and content are being provided for informational purposes only. TowneBank Mortgage has no control over any other website and is not able to endorse, guarantee or monitor content, availability, viewpoints, products or services that are offered or expressed on any site other than this one.

Conventional Mortgages – 

The biggest benefit of a conventional rate mortgage is the fact that the interest rate does not change over time. This allows you to budget your finances and make a consistent, fixed payment over the duration of your loan. Conventional rate mortgages allow you to lock in an interest rate and principal payment for the entire life of your loan. Your rate and principal payment never increase, even if the market changes.

 

To learn even more, fill out the the form below to speak with a TowneBank lending specialist. We will get back to you as soon as possible.

 

Thank you for choosing TowneBank Mortgage!

 

 

FHA Mortgages – 

FHA insured loans often give potential homeowners the option of making a lower down payment than they would need to make if using a traditional, non-FHA insured mortgage. FHA loans don’t just benefit the potential homeowner – they also are beneficial for the economy as a whole. They stimulate economic development in the form of expanding tax bases and creating jobs.

 

To learn even more, fill out the the form below to speak with a TowneBank lending specialist. We will get back to you as soon as possible.

 

Thank you for choosing TowneBank Mortgage!

VA Loans – 

VA loans are designed to provide long-term home financing to qualified veterans and, in some cases, their surviving unmarried spouses. In many instances, their interest rates can be better than other conventional loans. VA loans offer a number of advantages over other types of mortgages, including:

  • No penalty fee if you pay the loan off early
  • No private mortgage insurance requirements
  • Less than perfect credit can apply
  • VA may be able to provide some assistance if mortgage payment problems arise

Certificate of Eligibility
In order to apply for a VA-sponsored loan, you will need to obtain a Certificate of Eligibility (COE). Your COE verifies to lenders that you meet the requirements necessary to obtain a VA-sponsored loan. Applying for a COE is straightforward and can be done online, through the mail or through a lender. Active duty military personnel and current National Guard members or Reservists who have never been Federal active service will need to present a current statement of service in order to obtain a COE. Veterans and current or former National Guard members and Reservists that have been activated for Federal active service will need to present a DD Form 214 confirming their past service.

 

To learn even more, fill out the the form below to speak with a TowneBank lending specialist. We will get back to you as soon as possible.

 

Thank you for choosing TowneBank Mortgage!

VH Loans – 

VH offers affordable housing opportunities for Virginians who otherwise might not be able to afford quality housing. They also provide developers of low- to moderate-income housing with access to financial resources and tax incentives. To learn more about our programs, follow the links below or choose a program from the Quick Launch links on the right. A few notable benefits include:

  • Lower monthly payments and no MI required
  • 97% LTV financing
  • Less cash required at closing than FHA
  • Fixed-rate 30-year loan term

To learn even more, fill out the the form below to speak with a TowneBank lending specialist. We will get back to you as soon as possible.

Thank you for choosing TowneBank Mortgage!

ARM Loans – 

Because the borrower assumes more risk with this type of mortgage, adjustable rate mortgages offer prospective homeowners some notable benefits. Adjustable rate mortgages typically offer lower initial interest rates and monthly payments than fixed rate mortgages in exchange for possible future rate adjustments. With an adjustable rate mortgage, the initial interest rate is fixed for a set period, such as 3 to 10 years, and the interest rate adjusts up or down depending on market conditions after that. Adjustable rate mortgages can be a great option for homebuyers who plan to relocate or move in the future or who expect their income to increase.

 

To learn even more, fill out the the form below to speak with a TowneBank lending specialist. We will get back to you as soon as possible.

 

Thank you for choosing TowneBank Mortgage!

USDA Loans – 

Program guidelines for USDA loans are very specific, but don’t let that stop you from achieving your homeownership goals.Basic qualifications include:

  • The property being purchased must be in a rural area as defined by the USDA
  • The property must be owner-occupied. Investment or vacation properties are not eligible for USDA loans
  • You must meet the income restrictions for the county the property is located in.
  • Each county has a maximum income limit defined by the USDA
  • This maximum income limit depends on the cost of living, median income and other economic characteristics of the county the property is located in

USDA loans offer a number of unique benefits that set them apart from standard home loans. USDA loans require no down payment, so qualified individuals can finance up to 100% of the home’s total purchase price. This makes them one of the more desirable loans available to homeowners.

 

To learn even more, fill out the the form below to speak with a TowneBank lending specialist. We will get back to you as soon as possible.

 

Thank you for choosing TowneBank Mortgage!