HOME LOAN SERVICES

WE'VE REIMAGINED

HOME FINANCING

Who We Are

Home Loan Zone, Inc., of Richmond, Virginia, is a mortgage brokerage company offering high-quality home loan services to residential clients. Our mission is to help turn today’s dreams into tomorrow’s reality by facilitating home ownership.

As leaders in the industry, we know what it takes to get you into a home and keep you informed on options once you purchase. We’ve reimagined home financing to meet your needs. Our enthusiasm for excellent, individualized client care and efficiency makes Home Loan Zone, Inc., the best choice for your home financing needs.

Through our personal, specialized approach, we help you to understand the full range of loan products and terms, and we assist you in making the right decisions to meet your goals. Once you select the loan that is right for you, we will keep you informed throughout the entire loan process.

At Home Loan Zone, Inc., our mortgage experts are educated, licensed, experienced and well-informed about current regulations and programs. Our high standards and professionalism make your experience with us a safe and secure financial choice. Whether you are purchasing a new home, refinancing an old one, or adding to your real estate portfolio, we are here to help you throughout the mortgage process.

Why Choose Us?

Home Loan Zone is an independent mortgage brokerage company. That means we shop lending sources and loan programs through multiple lenders to find the best rates for our clients.

As an independent broker, we don’t have the high costs normally associated with larger banks, which means savings for our clients in the form of better rates and lower closing costs.

We work with many investors, allowing us to offer the best rates on all types of loans and loan programs, including

  • Conventional Fixed-Rate with terms ranging from 10 to 30 yearsof 30, 20, 15 and 10 years
  • Conventional Adjustable-Rate with terms of 1 to 5 years
  • High-Balance and Jumbo Loans
  • Government-Backed FHA
  • VA and USDA Loans
  • Renovation Loans

FAQs

Finding out how much you can afford is the most important step to buying a home. Establishing your purchase power upfront, including how much money will be required for a down payment and closings costs, will help you make the right decision on which house is right for you!

Generally speaking, you can purchase a home with a value of two or three times your annual household income. However, the amount that you can borrow also will depend upon your employment history, credit history, current savings and debts, and the amount of down payment you are willing to make. You may also be able to take advantage of special loan programs for first-time buyers to purchase a home with a higher value. Give us a call, and we can help you determine exactly how much you can afford.

With a fixed-rate mortgage, the interest rate stays the same during the life of the loan. With an adjustable-rate mortgage (ARM), the interest changes periodically, typically in relation to an index. While the monthly payments that you make with a fixed-rate mortgage are relatively stable, payments on an ARM loan will likely change. There are advantages and disadvantages to each type of mortgage, and the best way to select a loan product is by talking to us.

An index is an economic indicator that lenders use to set the interest rate for an ARM. Generally, the interest rate that you pay is a combination of the index rate and a pre-specified margin. Three commonly used indices are the One-Year Treasury Bill, the Cost of Funds of the 11th District Federal Home Loan Bank (COFI), and the London InterBank Offering Rate (LIBOR).

There is no simple formula to determine the type of mortgage that is best for you. This choice depends on a number of factors, including your current financial picture and how long you intend to keep your house. Home Loan Zone can help you evaluate your choices to make the most appropriate decision.

For most homeowners, the monthly mortgage payments are made up of three separate parts:

  • Principal: Repayment on the amount borrowed.
  • Interest: Payment to the lender for the amount borrowed.
  • Taxes & Insurance: Monthly payments are normally made into a special escrow account for items like hazard insurance and property taxes. This feature is sometimes optional, in which case the fees will be paid by you directly to your county tax assessor and property insurance company.

The amount of cash needed depends on a number of factors. Generally speaking, you will need to supply:

  • Earnest Money: The deposit that is supplied when you make an offer on the house.
  • Down Payment: A percentage of the cost of the home that is due at settlement.
  • Closing Costs: Costs associated with processing paperwork to purchase or refinance a house.

WHAT CLIENTS ARE SAYING

Nicola is awesome--from preapproval to closing, her passion, care for clients, communication, creativity and more is a bright shining star!

Hope E.
December 2014

Nicola is a top notch mortgage professional in my book. If you want someone who under promises and over delivers call Nicola!

Ashley P.
February 2016

She is determined, organized, and experienced lady. She gets all the necessary documents ahead of time. She is always ahead of her schedule. She cooperates with her clients and meet their demands. I am so glad to work with her on my loan process. Closing costs were lower than expected. I recommend her to any new house purchaser.

Peter
April 2019

One lender that I can honestly say goes above and beyond the call of duty with each and every client! Nicola is very hands on and you will feel the connection on day 1!

April L.
April 2014

It is such a pleasure to work with Kristin. She is very helpful and very attentive during the homebuying and refinancing process. This is the second time I have utilize her services and she has made Extremely easy to go through. Kristin is very helpful and will always keep you fully informed of the newest developments of the process. I would highly recommend Kristin in your next Homebuying or refinancing. Thank you very much Kristin for all your help. This will not be the last time I utilize your services.

Ray
April 2019

Buying a home can be stressful but working with Kristin, she made it a breeze! She was always on top of things, genuinely wants what’s finanically best for her clients and is very knowledgeable at her job! We could never have asked for anyone better and she will have our business for life! Thank you for everything, Kristin!

Sheri M.
January 2019

Couldn't have been more blessed with Nicola, she is absolutely the best there is in this field. Put your home future in her hands and she will deliver!

Lindsey H.
June 2015

Nicola is amazing! We contacted her from the start to see how interest rates were and to help us figure out how much we would be comfortable spending. Late night texts and phone calls, she was so available and personable. I'm thankful to have her a phone call away throughout our process. Highly recommended Home Loan Zone!

Stephanie C.
July 2016

I was very fortunate to have been referred to Nicola..... And since then I have discovered the value she brings to the relationship with my buyers. We have all been very happy with her expertise, knowledge, and the great service she provides us in updating throughout the transaction. Anytime I have a choice in the lender with my clients..... I will always choose Nicola......

Susan L.
June 2014

Kristin made this process seamless from the beginning. Brand new to this process she kept me educated and updated every step of the way. Easily accessible at all times of the day through e-mail/phone/texting. She even went out of her way to answer all of my parent's questions. I felt confident in my choice of mortgages and insurance because of her thoroughness and expertise. Even when I had a last minute request she was willing and quick to make changes.

Rebekah R.
May 2018

Nicola McCloskey is a top notch mortgage broker! She has helped me twice, once when purchasing my home, and another time as I helped a friend purchase her home. Any time anyone asks me if I know a good lender, she's the first that springs to mind. Nicola always keeps you updated every step of the way, and makes the process easy to understand.

Tim D.
June 2019

'm so grateful to have been introduced to Nicola, Owner of Home Loan Zone almost a year ago. As a Realtor it's great to have a name you can trust to share with your clients! She works fast and professional and certainly wherever she can! I recommend her & Home Loan Zone to anyone seeking to buy!

Shaunda H.
June 2015

When my husband and I decided we were ready to move to a bigger house in 2016, our realtor recommended Nicola McCloskey with Home Loan Zone. I'm so glad she did because we could not have asked for a better lender to work with. My husband had bought a house before, but this was all brand new to me. Nicola went above and beyond my expectations. She was always available to answer my never ending questions! She did at least 10 different work ups for us when we were trying to decide on a down payment and monthly mortgage. She made the whole process so easy for us! I highly recommend Home Loan Zone, and would refer anyone to Nicola McCloskey. We closed on time, got an excellent interest rate, and it was all within our budget! We are highly satisfied!

Marianne W.
February 2017

Kristin was amazing. As a first time home buyer I had a lot of questions, she always took time to answer them and was so pleasant to me. She helped guide me through the process. I had alway heard horror stories about the home buying process but with only a slight snag in the process, it was a family estate purchase, the whole experience went pretty much smooth.

Theresa L.
October 2018