Home Mortgage Loans

• Competitive rates for home purchase, refinance, or construction
• Available for a primary residence, second homes, vacation homes, or investment properties
• A wide range of terms customized to your unique situation
• Variety of financing programs available:
  • Conventional mortgages
  • Commercial mortgages
  • Fixed-rate mortgages
  • Adjustable 1rate mortgages (ARMs)
  • USDA Rural Housing Loans
  • FHA Loans
  • VA Loans
  • Construction Loans
• Helpful loan advisors with working knowledge of the Central Virginia real estate market
• Free pre-approval for extra confidence when buying your home
• Refinance your current home to potentially lower your rate
• Quick, local decision-making and processing
• Attentive, friendly service from start to finish

Meet with a Mortgage Originator

If you’re ready to purchase a new home, our mortgage lending team is ready to assist you. Call us at (434) 455-1700 to speak with a member of our team — or apply now.

Available to residents of Bedford, Forest, Lynchburg, and Staunton.

Conventional and Non-Conventional Mortgages

Buying a home is a big part of the American Dream and is among the most significant investments you will make in your life. At Select Bank, we know buying a home is a big step, whether you’re a first-time buyer or you’ve purchased a home before. We are proud to offer conventional and non-conventional mortgage options. All decisions are handled locally with our mortgage lending team, who will work with you to find the best option for you.

Fixed-Rate Mortgages

If you want to make a regular payment each month, fixed-rate mortgages are a great option, as they allow you to pay a consistent amount. Fixed-rate mortgages often have longer terms, and even payments make it easier for your monthly budgeting. 

Adjustable-Rate Mortgages

Your interest rate, thus your repayment amount, changes from month to month with an adjustable-rate mortgage. This loan option is more common among homeowners considering short-term ownership or for those expecting an increase in their income.

In-House Loans

Having problems with approval and underwriting? Please speak with us about our non-conforming, In-House Mortgage with local decision making.  We close your loan in 30 days, with local underwriting, local appraisers, and we keep your mortgage here for the life of the loan.

FHA Loans

Designed to help buyers overcome the challenges associated with purchasing a new home, FHA loans provide buyers without a lot of assets the ability to buy a home. FHA loans offer low down payments and the opportunity for closing costs to be covered by agency grants.

VA Loans

Available to veterans of the U.S. Military or their surviving spouses, VA loans offer 100 percent financing with no down payment requirements.

USDA Loans

If you’re looking at purchasing a rural home, USDA loans are a great option that offers 100 percent financing and covers many of the closing costs. In many cases, there is no down payment required, and monthly payments are lower compared to other mortgage options.

Commercial Mortgages

Select Bank also has mortgages available for business owners looking to move into a new space. Learn more by visiting our business loans page.