Finding the right mortgage lender is just as important as finding the right home. With rates, fees, and service quality varying dramatically between lenders, choosing wisely can save you thousands of dollars and countless headaches. Whether you're buying your first Bristol home, refinancing, or moving up to a larger property, understanding your lender options is critical.
Bristol homebuyers have access to national mortgage giants, regional banks with deep Virginia roots, local community banks that know Bristol's market intimately, and credit unions offering member-focused service. This guide breaks down the best mortgage lenders serving Bristol in 2025, from online lenders with rock-bottom rates to local banks where you can walk in and meet your loan officer face-to-face.
No impact on credit score to check
The Single Most Important Mortgage Tip
Get quotes from at least 3-5 lenders before choosing.
Even a 0.25% rate difference on a $200,000 Bristol home costs you:
A 0.50% difference costs $64/month ($768/year) or $23,040 over 30 years.
Lender fees vary $1,000-$3,000 between lenders on typical Bristol mortgages:
Lender A: 0.5% origination + $800 fees = $1,800 on $200K
Lender B: 1.0% origination + $1,200 fees = $3,200 on $200K
Difference: $1,400 upfront
Examples: Rocket Mortgage, Better.com, Guaranteed Rate, LoanDepot
Best For: Tech-savvy buyers who want lowest rates and don't need hand-holding, straightforward purchases with strong credit and stable income.
Examples: First Bank & Trust Company, New Peoples Bank, Carter Bank & Trust
Best For: Buyers who want local service and Bristol market expertise, complex financial situations, those who value relationships over rock-bottom rates.
Examples: Navy Federal Credit Union, Pentagon Federal Credit Union, Virginia Credit Union
Best For: Military members/families (Navy Federal, Pentagon Federal), those who qualify for membership, buyers who prioritize service and rates over speed.
Best For: Fast online process, tech-savvy buyers
Bristol Fit: Excellent for straightforward purchases with strong credit. Fast closing timeline helps in competitive situations.
Current Reputation: 4.7/5 stars average, #1 in mortgage volume in U.S.
Best For: Lowest rates, no origination fees
Bristol Fit: Great for buyers who want absolute lowest cost and are comfortable with online-only process.
Best For: Military buyers using VA loans
Bristol Fit: Excellent for Bristol-area military members. Strong VA appraisal expertise helps with Bristol's older housing stock.
Current Reputation: 4.8/5 stars, highest satisfaction among VA lenders.
Best For: Military buyers wanting lowest VA rates
Bristol Fit: Best choice for Bristol military buyers who qualify. Lowest rates + best service combination.
Current Reputation: 4.9/5 stars, highest overall member satisfaction.
Locations: Multiple Bristol-area branches
Best For: Local service, Bristol market expertise
Bristol Fit: Excellent for buyers who value face-to-face service and Bristol-specific knowledge. Best for complex situations.
Locations: Bristol area branches
Best For: Community banking, local relationships
Bristol Fit: Good for buyers who bank locally and want relationships. Best for unique situations requiring local expertise.
Eligibility: Military members, veterans, and family
Best For: VA loans with absolute lowest rates
Bristol Application: Eligible Bristol-area military should start here. Savings on VA loan over 30 years: $10,000-$25,000 vs other lenders.
Eligibility: Military members, veterans, and family (plus some civilian options)
Best For: VA loans, low-rate conventional
Bristol Application: Second-best option for military buyers if Navy Federal doesn't have what you need.
Rate-Focused:
Online lenders (Better, Rocket) or credit unions (Navy Federal)
Service-Focused:
Local banks (First Bank & Trust) or credit unions
VA Loan:
Navy Federal #1, Veterans United #2
Complex Situation:
Local banks (First Bank & Trust), mortgage brokers
Do This in One Week: Multiple credit inquiries in 14-45 days count as single inquiry for credit score purposes.
Request "Loan Estimate": Required within 3 days of application, standardized form.
| Lender | Rate | APR | Lender Fees | Total Closing |
|---|---|---|---|---|
| Better.com | 6.35% | 6.42% | $500 | $4,200 |
| First Bank & Trust | 6.625% | 6.75% | $2,800 | $7,400 |
| Rocket Mortgage | 6.40% | 6.53% | $2,100 | $6,700 |
| Navy Federal (VA) | 5.50% | 5.61% | $600 | $3,800 |
Bristol homes trend older (many pre-1980). Not all lenders handle older homes well.
With 78-121 days on market, you're not competing in bidding wars.
What This Means: Don't need fastest lender. Can prioritize rate/cost over speed. More time to compare multiple lenders thoroughly.
Bristol's proximity to Tennessee military installations means many buyers qualify for VA loans.
Problem: May be leaving thousands on the table.
Solution: Always compare at least 3-5 lenders.
Problem: Advertised rates require perfect credit, large down payment.
Solution: Get written Loan Estimate with YOUR specific situation.
Problem: Lender with lower rate may have $3,000 higher fees.
Solution: Compare total closing costs on Loan Estimate.
Problem: May not get you best deal.
Solution: Get quote from friend/family lender, but also compare with 2-3 others.
Problem: Lender with great rate might have terrible service.
Solution: Spend 15 minutes reading Google and BBB reviews.
Problem: Online lenders may struggle with Bristol's unique properties.
Solution: Include at least one local bank in your comparison.
Connect with multiple lenders and compare rates, fees, and service to find the best mortgage option for your Bristol home.
No impact on credit score to check
Last updated: November 26, 2025
Disclaimer: This guide provides general information about mortgage lenders serving Bristol, Virginia as of November 2025. Lender rates, fees, programs, and reputations change frequently. This website generates leads for mortgage lenders and receives compensation for referrals. Always compare current rates and terms from multiple licensed mortgage lenders before choosing.