Our Loan Programs

Heltzel Mortgage offers a large variety of programs to choose from, competitive rates and fees, excellent customer service and automated underwriting and in house closing to assure that your loan closes on time.

Fixed-Rate Mortgages

Heltzel Mortgage offers Conventional, VA , FHA,  VHDA, USDA and Jumbo fixed rate loans. The traditional fixed-rate loan allows you to lock in your rate and your payment for the duration of the loan term. You can choose an “interest only option” on some of our 30 year fixed-rate loans – and this option allows YOU to manage the principal payments on a schedule that works for you. 15 year fixed-rate loans offer greater equity through a shorter payment term, so if you’re trying to pay off your loan faster, consider a 15 year fixed rate.

Adjustable Rate Mortgages (ARM)

Adjustable rate mortgages offer a lower initial payment that a fixed-rate mortgage, and most of them also offer an “interest only” option on them as well. Your rate will be fixed for a specific period of time (one year, 3 years, 5 years etc) and then will adjust based upon the changing market. The loans have caps on them, so that you know what your maximum rate will be in the future, and some ARM loans offer a fixed-rate conversion during the initial fixed-period. The ARM loan is perfect for the buyer that will not stay in the property for a long time, or for someone who needs lower payments now.

First Time Buyer Programs

Heltzel Mortgage has been a strong supporter of first time buyer programs for over 46 years. We offer all the Virginia Housing Development Authority (VHDA) programs, as well as USDA programs.  These programs offer first time buyers a chance to qualify for loans with no money down, or as little at 3.5% down. We also participate in the Federal Home Loan Bank grant program.  Some programs have specific qualification guidelines or limited funds availability, so call us for full details.

Reverse Mortgages

For home owners age 62 and older who wish to access the equity in their home without income or credit requirements. The equity can be withdrawn monthly, in lump sum, or in some combination of both – with no monthly payment required.