C&F Bank Home Mortgages: Conventional, FHA, VA and VHDA Loans for Virginia Homebuyers

C&F Bank provides a full range of mortgage products for Virginia homebuyers. Conventional fixed-rate and adjustable-rate mortgages serve borrowers with strong credit. FHA loans offer low down payments for first-time buyers. VA loans deliver zero-down financing for eligible veterans and military families. VHDA programmes provide below-market rates and down payment assistance. Every mortgage is underwritten locally by Virginia loan officers, with pre-approval typically within 48 hours. Manage your mortgage through CFFC online banking. Citizens and Farmers Bank. Member FDIC. NMLS #399805. Equal Housing Lender.

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Virginia family receiving C&F Bank mortgage pre-approval at a local branch for their new home purchase

Product	Down Payment	Rate Type	Term Options	PMI Required	Best For
Conventional Fixed	5% – 20%	Fixed	15, 20, 30 years	Yes (under 20% down)	Strong credit borrowers
Conventional ARM	5% – 20%	Adjustable (5/1, 7/1, 10/1)	30 years	Yes (under 20% down)	Short-term ownership
FHA Loan	3.5%	Fixed or ARM	15, 30 years	MIP required	First-time buyers
VA Loan	0%	Fixed or ARM	15, 30 years	No	Veterans & military
VHDA Loan	0% – 3.5%	Below-market fixed	30 years	Varies	First-time VA buyers
Jumbo Mortgage	10% – 20%	Fixed or ARM	15, 30 years	No	High-value properties
Construction-to-Permanent	10% – 20%	Fixed (permanent phase)	30 years	Varies	New construction

All mortgage products subject to credit approval. Rates, terms and conditions vary based on creditworthiness, property type and loan amount. Contact 804-843-2360 for current rates. C&F Bank NMLS #399805. Equal Housing Lender.

C&F Bank conventional mortgages are available in fixed-rate and adjustable-rate configurations. Fixed-rate options in 15, 20 and 30-year terms provide predictable monthly payments for the life of the loan. Adjustable-rate mortgages (5/1, 7/1 and 10/1 ARM) offer a lower initial rate that adjusts after the fixed period, making them suitable for buyers who plan to sell or refinance within five to ten years.

A 20% down payment eliminates the need for private mortgage insurance (PMI), reducing your monthly cost. If you put down less than 20%, PMI is required until you reach 20% equity. C&F Bank conventional loans conform to Fannie Mae and Freddie Mac guidelines, ensuring competitive pricing and smooth processing.

Because C&F Bank underwrites locally, your mortgage officer can move quickly on complex scenarios: self-employed borrowers, multiple income sources, investment properties and rural Virginia parcels that national lenders often struggle with. Pre-approval letters typically issue within 48 hours, giving you a competitive edge in Virginia's active housing markets.

Conventional Mortgage Features

Fixed-rate terms: 15, 20 and 30 years
ARM options: 5/1, 7/1 and 10/1
Down payment from 5% (3% for first-time buyers)
No PMI with 20% down
Local Virginia underwriting
48-hour pre-approval
Rate lock options up to 60 days
Manage payments via CFFC online banking
Refinance options available

FHA Loans

FHA loans are insured by the Federal Housing Administration and require as little as 3.5% down. They are designed for borrowers with moderate credit scores who may not qualify for conventional financing. C&F Bank is an FHA-approved lender, and our mortgage officers are experienced in navigating FHA property requirements and appraisal standards. Homebuyer education resources are available through HUD.gov.

VA Loans

Virginia is home to one of the nation's largest military populations, with major installations in Hampton Roads, Quantico and the Richmond area. C&F Bank VA loans offer eligible veterans, active-duty service members and surviving spouses zero down payment, no PMI and competitive interest rates. The VA funding fee can be financed into the loan. Our team understands the VA appraisal process and works closely with the Department of Veterans Affairs to ensure smooth closings.

VHDA Loans

The Virginia Housing Development Authority offers below-market interest rates and down payment assistance to eligible Virginia homebuyers. First-time buyers (defined as not having owned a home in the past three years) are the primary beneficiaries, though some programmes are available to repeat buyers in targeted areas. VHDA loans can be structured as conventional or FHA products.

C&F Bank is an approved VHDA originator, meaning we can offer the full suite of VHDA programmes directly. Down payment assistance grants through VHDA do not require repayment if you remain in the home for a specified period. Your C&F Bank mortgage officer will determine which VHDA programme — if any — you qualify for during the pre-approval process.

Jumbo and Construction Loans

For properties exceeding conforming loan limits, C&F Bank offers portfolio jumbo mortgages with competitive rates and flexible terms. Construction-to-permanent loans finance both the building phase and the permanent mortgage in a single closing, simplifying the process for Virginia homeowners building custom homes.

Step 1: Pre-Approval

Submit your application at any C&F Bank branch or by calling 804-843-2360. Provide income documentation (pay stubs, W-2s, tax returns), asset statements and identification. Your mortgage officer reviews your file and issues a pre-approval letter within 48 hours. This letter shows sellers you are a qualified buyer, strengthening your offer in competitive markets.

Step 2: Property Search and Offer

With pre-approval in hand, work with your real estate agent to find your Virginia home. When you make an offer, include your C&F Bank pre-approval letter. Once the seller accepts, we order the appraisal and title work.

Step 3: Underwriting and Processing

Your loan file moves to underwriting, where a C&F Bank officer reviews all documentation, the appraisal and the title report. Because underwriting happens locally in Virginia, questions are resolved quickly — often the same day. You receive a Loan Estimate within three business days of application and a Closing Disclosure at least three business days before closing.

Step 4: Closing

Sign your final documents at the settlement attorney's office. C&F Bank typically closes mortgages within 30 to 45 days of application, though some loans close faster. After closing, manage your mortgage payments through CFFC online banking: set up autopay, view your amortisation schedule, download tax documents and track escrow activity from your dashboard.

What mortgage products does C&F Bank offer?

C&F Bank offers conventional fixed and adjustable-rate mortgages, FHA loans, VA loans, VHDA loans, jumbo mortgages and construction-to-permanent loans. All products are underwritten locally by Virginia mortgage officers. Contact 804-843-2360 for current rates and programme details.

How long does C&F Bank mortgage pre-approval take?

C&F Bank typically provides mortgage pre-approval within 48 hours of receiving a complete application. Local underwriting keeps turnaround faster than national lenders. A pre-approval letter strengthens your offer in competitive Virginia markets.

Does C&F Bank offer VA home loans?

Yes. C&F Bank is an approved VA lender offering zero-down-payment mortgages to eligible veterans, active-duty service members and surviving spouses. No PMI is required. Virginia's large military presence makes VA lending a core part of our mortgage business.

What is VHDA and does C&F Bank participate?

VHDA (Virginia Housing Development Authority) provides below-market rates and down payment assistance to eligible Virginia homebuyers. C&F Bank is an approved VHDA originator and can offer the full suite of VHDA programmes at any of our 30 branches.

What down payment do I need for a C&F Bank mortgage?

Down payment requirements vary: conventional 5% to 20% (3% for some first-time buyer programmes), FHA 3.5%, VA 0%, VHDA 0% to 3.5%, jumbo 10% to 20%. Your C&F Bank mortgage officer will identify the lowest down payment option you qualify for based on your financial profile and the property.

Checking Accounts

Set up automatic mortgage payments from your C&F Bank checking account for convenience and potential rate benefits.

Savings Accounts

Build your down payment fund in a C&F Bank savings account with competitive APY and FDIC insurance.

Personal Loans

Finance home improvements after closing with a C&F Bank personal loan — fixed rates, no prepayment penalties, same-week funding.

C&F Bank Home Mortgages: Conventional, FHA, VA and VHDA Loans for Virginia Homebuyers

Compare C&F Bank Mortgage Products

Conventional Mortgages: Fixed and Adjustable Rate