USDA and FHA Pro and Con in Salem, Salem County, VA

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    What is a USDA Loan in VA?

    A USDA home loan is guaranteed by the Department of Agriculture, otherwise known as the USDA rural development loan or USDA mortgage, and is available only in rural areas. Unlike FHA loans that require a minimum 3.5% down payment, USDA mortgages require no down payment.

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    Salem Lenders

    • SalemVA Credit Union
    • 112 West Main Street, Salem, VA, 24153
    • Lends in Virginia
    • Salem VA Credit Union is a member-owned cooperative that operates on a not-for-profit basis. As a federal credit union, we are chartered, supervised and insured by the federal government through the National Credit Union Administration (NCUA). The NCUA insures member share accounts up to $250, 000 per member.

    • Kemba Roanoke Federal Credit Union
    • 2812 West Main Street, Salem, VA, 24153
    • Lends in Virginia
    • KEMBA has been providing families financial security for well over seventy-five years. Since we're a non-profit financial institution, we return our profits back to our members in the form of better rates, lower fees, and free or low-cost services. We are run by a volunteer board of directors elected by members like you.

    • Blue Eagle Credit Union
    • 2121 Electric Road, Roanoke, VA, 24018
    • Lends in Virginia
    • Blue Eagle® Credit Union has served the greater Roanoke and Lynchburg areas for nearly 70 years as a member-owned, local not-for-profit financial cooperative with a passion for enriching lives. Credit Union has served the greater Roanoke and Lynchburg areas for nearly 70 years as a member-owned, local not-for-profit financial coop

    • CRCH Employees Federal Credit Union
    • 109 Highland Avenue SW, Roanoke, VA, 24016
    • Lends in Virginia
    • This credit union is a member-owned, democratically operated, not-for-profit organization managed by a board of directors, with the specified mission of meeting the credit & savings needs of consumers, especially persons of modest means. The purpose of this credit union is to promote thrift among its members by affording them an opportunity.

    • Roanoke Valley Community Credit Union
    • 723 5th St NE, Roanoke, VA, 24016
    • Lends in Virginia
    • Roanoke Valley Community CU, a member-owned, democratically controlled financial cooperative that exists "Not for Profit, not for Charity, but for Service, " is committed to serve the financial needs of our membership. It is our responsibility to maximize the benefits to our members while maintaining financial stability.

    • Member One Federal Credit Union
    • 202 4th St NE, Roanoke, VA, 24016
    • Lends in Virginia
    • Member One Federal Credit Union is a full-service, member-owned financial institution serving the needs of its communities for more than 80 years. Member One is headquartered in Roanoke, VA and serves over 120, 000 members, is more than $1 billion in assets, operates 15 branch facilities.

    • ALCOVA Mortgage LLC
    • 308 Market Street SE., Roanoke, VA, 24011
    • Lends in Virginia
    • "ALCOVA Mortgage started with a friendship. Bound by a common background and inspired by a passion to serve, childhood friends Bobby Nicely, Billy Siple and Rob Lindstrom dreamed of one day starting a business.

      “When I bought my first house, I realized how confusing the mortgage process could be."

    • Freedom First Credit Union
    • 5240 Valleypark Drive, Roanoke, VA, 24019
    • Lends in Virginia
    • Freedom First is a member-owned, federally insured community financial institution headquartered in Roanoke, VA since its founding in 1956. What sets us apart is that our shareholders are our members — which means that we put our community first. In fact, while most banks evaluate their worth by how much money they keep

    • First Residential Mortgage Corporation
    • 1344 N Main St, Blacksburg, VA, 24060
    • Lends in Virginia
    • FRM company and we represent your best interests, not the big banks. We’ve been in business for over 20 years and we thrive on providing our clients with an outstanding mortgage experience. With offices in Blacksburg, Marion, and Abingdon we serve clients throughout Virginia. We’ve built our business by being an advocate for our clients.