Call Now (540) 838-5868

 

Mortgage Broker Blacksburg, Marion & Abingdon VA | Virginia Home Loans

We are a locally owned and operated mortgage company licensed to provide services throughout the state of Virginia, but we mainly serve Southwest Virginia. Our offices are in Blacksburg, Marion and Abingdon.

Schedule a FREE Consultation
(540) 838-5868

First Time Home Buyer
Loans

Apply Now

Let’s do this!

We understand buying your first home can be as scary as it is exciting, there are always tons of questions and real emotions behind those questions.

Where do I start?

How much can I afford?

Are there 100% loan options
for first-time homebuyers?

How much money
down do I need?

Should I work
with a realtor?

Should I buy instead
of renting?

What’s the process?

Is my credit score good enough
to qualify for a loan?

How much will my mortgage
payment be each month?

What are the costs and
benefits of owning a home?

We’ve got you covered!

We understand the only way to feel confident is to have knowledge and certainty. We’ll answer all your questions upfront, tell you things you might not know to ask, go through all the loan options along with the monthly payments, rates, down payments, etc, weigh out which option is best for you financially, calculate the difference between renting vs owning, discuss the housing market conditions in your area, review your credit report with you and provide you a copy, and discuss the next steps in the process. And we’re not done there, we’re going to be with you through the entire journey, coordinating, advising, and making sure this is a smooth and seamless experience.

We’ve helped thousands of first-time homebuyers buy their first home in Virginia and we love it! We geek out about real estate and we’ll share as much of our knowledge as you want to know. If you’re buying your first home in Virginia we’d love to help!

First Time Homebuyer Programs in VA

Choosing the best first-time homebuyer loan is super important. We will help you determine which loan is best for you and why.

While you may opt for a conventional mortgage or jumbo loan for your first home, there are certain government programs which may help you out. We can help you to assess these options and see what you might qualify for.

USDA

The USDA loan program is a 100% loan program. This program is designed for “rural areas” however almost all of southwest Virginia is eligible for a USDA loan including Christiansburg, Radford, Abingdon, Wytheville, Marion, and the surrounding areas. If you are eligible for a USDA loan, it’s definitely a great option to purchase your first home. You could have zero down payment, an excellent 30 year fixed rate, and the seller can pay all of your closing costs.

FHA

Is the most popular program for first-time home buyers in Virginia due to the low down payment requirement of 3.5% of the sales price and less restrictive credit requirements. If you are not eligible for a USDA loan or the property is located within the City of Roanoke, Salem, Bristol or the town of Blacksburg, VA FHA may be a great option.

VA

The VA loan is a zero down payment mortgage option available to veterans, service members, and eligible surviving spouses. If you are eligible for a VA loan and want to get a 100% loan, the VA loan is absolutely your best loan option. The benefits of a VA loan include affordable interest rates, a zero down payment, and no mortgage insurance which makes the payment lower than any other loan option.

Conventional

With a conventional loan, first-time homebuyers can put down as little as 3% down on a home. The benefits of a conventional loan over a government insured loan such as VA, FHA or USDA is not having to pay a fee to obtain the loan and there are no restrictions on the location of the property, loan amounts, or income limits as with the government insured loan programs. Conventional loans are eligible in all areas of Virginia.

Rent Vs. Owning a Home

Renting may require less responsibility for maintenance of the property and if you are planning on only living in the same area for 1-2 it can be financially the best option. However, if you are going to live in the same area for 3 years or more owning is normally the best option financially. The difference of owning vs. renting isn’t as simple as comparing your rental payment vs your mortgage payment, you need to consider the appreciation of the property over time, the principle you are paying down each month, and the possible tax benefits of owning. When you add these up and consider all aspects, owning vs. renting can mean a difference of tens of thousands even $100K difference in 5 years, depending on rental rates and home prices. We can show you the difference and help determine if buying a home is the best financial move for you.

Ready to apply for a first-time
homebuyer loan?

Apply Now

With offices in Blacksburg, Marion, and Abingdon we provide home loans to all of Southwest Virginia including Christiansburg, Roanoke, Wytheville, Bristol, and the surrounding areas.

Have questions about a First-time
homebuyer loan?

Contact Us

Jason H.
Highly recommend. Excellent rates and reasonable fees, quick responses to questions, helped overcome a couple small complications, overall a very smooth process.
Joe S.
I cannot say enough positive things about Josh Rowland and his wife Jessica. My family and I went through one of the most stressful and chaotic events all in the middle of trying to purchase a home 700 miles away. They not only were professional at every step, but compassionate at every step as well. They fought for us with their diligence and resolve. I am forever grateful for their work, help, and friendship. 100% RECCOMEND. God bless their future endeavors!
Christi S.
Absolutely wonderful experience. Ryan Hall (and team) have gone above and beyond at every point. He's responded quickly, explained clearly, and even managed to get us pre-approved when a competing lender couldn't. Ryan is easy to talk to and a joy to work with. Definitely will recommend this office any chance I get.
Mo R.
You don't even feel the mortgage process up&down if you work with Ryan and his team, the best experience. Thanks so much Ryan for your support and help cause that made the home buying so smooth. Highly highly recommend them. 5 out 5 for sure.
Katherine P.
We worked with Brian Hall to get our mortgage and it was beyond my expectations! We originally had gotten a preapproval amount and interest rate quote from another lender; our realtor Brian Mchone had recommended First Residential Mortgage to us, but I didn't think we would get a lower interest offer. Ryan reached out to me with an interest offer a whole percent lower than we were quoted from the other company! That difference was enough that when we found our dream home, we were able to get our offer in and keep our monthly payment within our budget! A LOT of paperwork was required to be submitted, but it was well worth it! Ryan was available every step of the way if I had questions or clarifications. He and my realtor communicated flawlessly and the whole experience felt well handled. We were able to submit all of this online and it was very easy to use the online submissions. My husband is a veteran and we used the VA Home Loan, Ryan was well versed in working with the VA Home Loan service. All and all, I can not say enough good things about First Residential Mortgage and Ryan Hall made the stressful experience of buying a home a much easier one!
Chase B.
Ryan did a great job getting us the best rate he could. He made sure we understood everything every step of the way and was very quick to answer any questions we had, be that via email or calling.
Mark J.
Excellent customer service from start to finish. Ryan did a great job of explaining the whole process and keeping us up to date at every step of the way. Would not hesitate to recommend him to family and friends.
Tori Z.
My husband and I worked with Ryan on securing a mortgage as we bought our first home. Ryan was helpful and would answer our questions promptly and used videos and screen sharing to make sure everything was clear. We had shopped around at a few different mortgage and First Residential Mortgage offered the best rate to us. I would definitely recommend using First Residential Mortgage.
Brandon T.
Ryan and the folks at First Residential Mortgage made the process of refinancing our home seamless and quick. Took less than 30 days from the time someone recommended me to Ryan’s team to closing. The application process was easy, Ryan looked out for us all along the way and got us a great interest rate, and we were able to pay off a $30k car while maintaining almost the exact same monthly mortgage payment we had been making previously. Can’t say enough good things about them!
Cirillo- D.
Great to work with, wonderful staff and a very rate.
Maaz G.
Ryan Hall and his team are absolutely fantastic to work with. We were first time home buyers. Thanks guys!
Mike B.
Great experience. Easy to work with. Answered all my questions.
Tommy B.
Ryan was great to work with. We ran in to several issues along the way with the sellers and our income but he did everything in his power to make the process as smooth as possible and to make sure we were able to get the loan we wanted.
John B.
Ryan was very professional, yet very responsive to our questions as we moved forward through the process of signing documents. Ryan makes these video where he explains what is happening and what to expect that made it easy the home loan understand. Ryan's insight on how to approach the sellers with our offer and make it more attractive were invaluable. I highly recommend Ryan for all Veterans and others seeking a loan professional's help. You won't be disappointed. Thanks again Ryan.
Barrett I.
Ryan Hall is great to work with. He is very knowledgeable and was always available for any questions that we had throughout our refinance. I highly recommend his services.
Sloop S.
Robin L.
I had a great experience with Ryan and team at First Residential. The communication through the entire process was excellent. I will definitely be working with Ryan again in the future.
Andrew D.
The folks at First Residential are exactly what you're looking for. They are professional, patient, fast, and thorough on every front. It felt like I had good friends walking me through the process, who always had time to answer any questions I had, fight for good rates for me, and to be excited for my family. I HIGHLY recommend you use them. I know I will be for every mortgage need I ever have again.
Payne B.
I purchased a duplex investment property with the help of First Residential Mortgage. The process was quick and easy and if I had any questions the team in Blacksburg was quick to help. When I was searching for the best interest rate Ryan was by far the lowest even in a very competitive/busy market. I will be using First Residential Mortgage again on future investment properties as well as personal residence. I highly recommend giving them a call!
Stephan C.
We used this business to assist us in finding a mortgage. Ryan made sure to keep us informed in all aspects of this process. He was very professional and knowledgeable.
Kaylee R.
Mark C.
Ryan is a great wonderful person that seamlessly works with you to achieve your mortgage goals. He and his team are professional, through, and really make the experience very easy. They do a great job at First Residental Mortgage
Kaitlyn M.
Great experience. We are now first time home owners! They answered all of our questions and explained the whole process very thoroughly. Really cannot recommend Ryan and his team enough, it was really an enjoyable process working with them
El A.
Great people, they helped me every step of the process and kept me up to date on any changes. Would definitely recommend!
Dietrich L.
It was awesome working with Ryan and his team, super knowledgeable, walked me through the whole process, weighed the pros and cons of different options, easy all-digital process, answered questions insightfully, and gave me the best rate I could find. Thanks Ryan!
Jason H.
Highly recommend. Excellent rates and reasonable fees, quick responses to questions, helped overcome a couple small complications, overall a very smooth process.
Joe S.
I cannot say enough positive things about Josh Rowland and his wife Jessica. My family and I went through one of the most stressful and chaotic events all in the middle of trying to purchase a home 700 miles away. They not only were professional at every step, but compassionate at every step as well. They fought for us with their diligence and resolve. I am forever grateful for their work, help, and friendship. 100% RECCOMEND. God bless their future endeavors!
Christi S.
Absolutely wonderful experience. Ryan Hall (and team) have gone above and beyond at every point. He's responded quickly, explained clearly, and even managed to get us pre-approved when a competing lender couldn't. Ryan is easy to talk to and a joy to work with. Definitely will recommend this office any chance I get.
Mo R.
You don't even feel the mortgage process up&down if you work with Ryan and his team, the best experience. Thanks so much Ryan for your support and help cause that made the home buying so smooth. Highly highly recommend them. 5 out 5 for sure.
Katherine P.
We worked with Brian Hall to get our mortgage and it was beyond my expectations! We originally had gotten a preapproval amount and interest rate quote from another lender; our realtor Brian Mchone had recommended First Residential Mortgage to us, but I didn't think we would get a lower interest offer. Ryan reached out to me with an interest offer a whole percent lower than we were quoted from the other company! That difference was enough that when we found our dream home, we were able to get our offer in and keep our monthly payment within our budget! A LOT of paperwork was required to be submitted, but it was well worth it! Ryan was available every step of the way if I had questions or clarifications. He and my realtor communicated flawlessly and the whole experience felt well handled. We were able to submit all of this online and it was very easy to use the online submissions. My husband is a veteran and we used the VA Home Loan, Ryan was well versed in working with the VA Home Loan service. All and all, I can not say enough good things about First Residential Mortgage and Ryan Hall made the stressful experience of buying a home a much easier one!
Chase B.
Ryan did a great job getting us the best rate he could. He made sure we understood everything every step of the way and was very quick to answer any questions we had, be that via email or calling.
Mark J.
Excellent customer service from start to finish. Ryan did a great job of explaining the whole process and keeping us up to date at every step of the way. Would not hesitate to recommend him to family and friends.
Tori Z.
My husband and I worked with Ryan on securing a mortgage as we bought our first home. Ryan was helpful and would answer our questions promptly and used videos and screen sharing to make sure everything was clear. We had shopped around at a few different mortgage and First Residential Mortgage offered the best rate to us. I would definitely recommend using First Residential Mortgage.
Brandon T.
Ryan and the folks at First Residential Mortgage made the process of refinancing our home seamless and quick. Took less than 30 days from the time someone recommended me to Ryan’s team to closing. The application process was easy, Ryan looked out for us all along the way and got us a great interest rate, and we were able to pay off a $30k car while maintaining almost the exact same monthly mortgage payment we had been making previously. Can’t say enough good things about them!
Cirillo- D.
Great to work with, wonderful staff and a very rate.
Maaz G.
Ryan Hall and his team are absolutely fantastic to work with. We were first time home buyers. Thanks guys!
Mike B.
Great experience. Easy to work with. Answered all my questions.
Tommy B.
Ryan was great to work with. We ran in to several issues along the way with the sellers and our income but he did everything in his power to make the process as smooth as possible and to make sure we were able to get the loan we wanted.
John B.
Ryan was very professional, yet very responsive to our questions as we moved forward through the process of signing documents. Ryan makes these video where he explains what is happening and what to expect that made it easy the home loan understand. Ryan's insight on how to approach the sellers with our offer and make it more attractive were invaluable. I highly recommend Ryan for all Veterans and others seeking a loan professional's help. You won't be disappointed. Thanks again Ryan.
Barrett I.
Ryan Hall is great to work with. He is very knowledgeable and was always available for any questions that we had throughout our refinance. I highly recommend his services.
Sloop S.
Robin L.
I had a great experience with Ryan and team at First Residential. The communication through the entire process was excellent. I will definitely be working with Ryan again in the future.
Andrew D.
The folks at First Residential are exactly what you're looking for. They are professional, patient, fast, and thorough on every front. It felt like I had good friends walking me through the process, who always had time to answer any questions I had, fight for good rates for me, and to be excited for my family. I HIGHLY recommend you use them. I know I will be for every mortgage need I ever have again.
Payne B.
I purchased a duplex investment property with the help of First Residential Mortgage. The process was quick and easy and if I had any questions the team in Blacksburg was quick to help. When I was searching for the best interest rate Ryan was by far the lowest even in a very competitive/busy market. I will be using First Residential Mortgage again on future investment properties as well as personal residence. I highly recommend giving them a call!
Stephan C.
We used this business to assist us in finding a mortgage. Ryan made sure to keep us informed in all aspects of this process. He was very professional and knowledgeable.
Kaylee R.
Mark C.
Ryan is a great wonderful person that seamlessly works with you to achieve your mortgage goals. He and his team are professional, through, and really make the experience very easy. They do a great job at First Residental Mortgage
Kaitlyn M.
Great experience. We are now first time home owners! They answered all of our questions and explained the whole process very thoroughly. Really cannot recommend Ryan and his team enough, it was really an enjoyable process working with them
El A.
Great people, they helped me every step of the process and kept me up to date on any changes. Would definitely recommend!
Dietrich L.
It was awesome working with Ryan and his team, super knowledgeable, walked me through the whole process, weighed the pros and cons of different options, easy all-digital process, answered questions insightfully, and gave me the best rate I could find. Thanks Ryan!