Reliant Home Funding Editorial Team

NMLS #292473Licensed in 27 statesUpdated November 3, 2026

Reviewed for accuracy by senior mortgage advisors • Rates verified against Freddie Mac PMMS®

Top-rated conventional mortgage lenders for Virginia purchase

Q: How Do I Get Pre-Approved for a Mortgage?

To get pre-approved: 1. Gather financial documents (e.g., tax returns, pay stubs). 2. Submit an application to your chosen lender. 3. Await the lender's assessment and decision.

Q: What Is the Difference Between Pre-Approval and Pre-Qualification?

- Pre-Approval: A thorough evaluation of your financial status, resulting in a conditional commitment for a specific loan amount. - Pre-Qualification: An informal estimate of what you might afford, based on self-reported information.

As of May 28, 2026, according to Freddie Mac's Primary Mortgage Market Survey®, the 30-year fixed-rate mortgage averages 6.53%, and the 15-year fixed-rate mortgage averages 5.87%. (freddiemac.com)

For credit-qualified borrowers in Virginia with FICO scores of 700 or higher, established income, and down payments of 10% or more, securing a competitive rate on a conventional mortgage is within reach. This article provides insights into today's mortgage rates, highlights top-rated lenders in Virginia, and offers guidance to help you make informed decisions in your homebuying journey.

What Are Today's Mortgage Rates in Virginia?

Understanding current mortgage rates is crucial for making informed decisions. Here's a snapshot of the latest rates:

Mortgage Type	Average Rate	Change from Last Week
30-Year Fixed	6.53%	-0.01%
15-Year Fixed	5.87%	-0.01%

These rates are sourced from Freddie Mac's Primary Mortgage Market Survey® as of May 28, 2026. (freddiemac.com)

Monitoring these rates is essential, as even slight fluctuations can impact your monthly payments and overall loan costs.

Top-Rated Conventional Mortgage Lenders in Virginia

Selecting the right lender can significantly influence your mortgage experience. Here are some top-rated conventional mortgage lenders in Virginia:

SpringBank Mortgage LLC
Alexandria, VA
Offers a streamlined loan process with pre-approvals within one hour, providing written pre-approval certificates for purchase contracts.

Molly Llewellyn at Supreme Lending
Front Royal, VA
Provides personalized service with a focus on clear communication, ensuring borrowers understand every step of the mortgage process.

Equity Prime Mortgage LLC
Virginia
A direct lender offering a diverse array of home lending products, catering to various borrower profiles.

C&F Mortgage Corporation
Virginia
A top Virginia housing lender offering conventional loans with as low as 3% down payment, eligible for Virginia Housing’s Down Payment Assistance grant.

Dash Home Loans
Virginia
Streamlines the mortgage lending process, offering comprehensive home financing solutions with a focus on customer service.

Prime Rate Mortgage
Virginia
Provides transparent processes with live up-to-date market rates, boasting a 98.2% pre-approval to close ratio.

When evaluating lenders, consider factors such as interest rates, loan terms, customer service, and the efficiency of the application process. It's advisable to compare offers from multiple lenders to secure the best deal tailored to your financial situation.

Common Mistakes Homebuyers Make

Being aware of common pitfalls can help you navigate the mortgage process more effectively:

1. Not Shopping Around for the Best Rate

Limiting yourself to one lender can result in missed opportunities for better rates and terms.

How to Avoid:

Obtain quotes from at least three different lenders.
Compare annual percentage rates (APRs), not just interest rates.
Consider the total cost of the loan over its term.

2. Ignoring the Importance of Credit Scores

A higher credit score can significantly lower your interest rate.

How to Avoid:

Regularly monitor your credit report for accuracy.
Address any discrepancies promptly.
Maintain low credit card balances.

3. Overlooking Additional Costs

Focusing solely on the loan amount can lead to overlooking other expenses.

How to Avoid:

Budget for closing costs, property taxes, and insurance.
Account for maintenance and potential repairs.

4. Failing to Get Pre-Approved

Not obtaining pre-approval can weaken your position in a competitive market.

How to Avoid:

Seek pre-approval before house hunting.
Ensure all financial documents are up-to-date.

Frequently Asked Questions

1. How Do I Get Pre-Approved for a Mortgage?

To get pre-approved:

Gather financial documents (e.g., tax returns, pay stubs).
Submit an application to your chosen lender.
Await the lender's assessment and decision.

2. What Is the Difference Between Pre-Approval and Pre-Qualification?

Pre-Approval: A thorough evaluation of your financial status, resulting in a conditional commitment for a specific loan amount.
Pre-Qualification: An informal estimate of what you might afford, based on self-reported information.

3. How Long Does the Mortgage Application Process Take?

The process typically takes 30 to 45 days, depending on the lender and complexity of the application.

4. Can I Lock in My Interest Rate Before Closing?

No, rate locks cannot occur before the submission of a complete mortgage application. Rate locks are available after the application approval. You can obtain rate quotes based on your financial qualifications, but official rate locks are only viable after processing the mortgage application.

5. What Are Closing Costs?

Closing costs include fees for appraisals, inspections, title insurance, and other services required to finalize the loan.

Conclusion

Navigating the mortgage landscape in Virginia requires careful consideration of current rates, lender options, and common pitfalls. By staying informed and proactive, you can secure a mortgage that aligns with your financial goals.

For competitive agency conventional rates in Virginia, consider Reliant Home Funding (NMLS #292

Compliance Disclaimer: Virginia Lender License MC-7413. Reliant Home Funding, Inc. NMLS #292473. Equal Housing Lender. Licensed in Virginia. Loans subject to borrower qualifications, property evaluation, and credit approval. All rates and program guidelines subject to change without notice.