Home financing in Henry County.
County-by-county financing guides. No paperwork. No social. No ID.
1 institutions are headquartered inside the Henry County line, and 1 more keep a branch here. Below, we say which is which.
Not this lane? Business FinancingPersonal Financing
The doors in Henry County.
The CDFIs, credit unions, and microlenders that actually say yes — county by county, in two languages. We are not a lender. Nobody paid to be listed. And where a county has no good doors, we say so.
- 2
- DOORS HERE
- 1
- BASED HERE
- 73
- VA COUNTIES WITH DOORS
- Lane
- Home Financing
- People
- 51Kresidents of Henry County
- Elsewhere in VA
- Fairfax County →16 doors — the biggest list of any other county in Virginia
- State
- Virginia →73 of 133 counties hold a door in this lane
- Valleystar Credit UnionPersonal · Home · Business capital
Based elsewhere, with a member-facing office inside the Henry County line. You can walk in.
- Urw Community Credit UnionMinority depositoryPersonal · Home · Business capital
- Ascendus Inc.SBA microlenderCommunity lending · Business capital
- Business Seed Capital, Inc.Community lending · Business capital
- Community Investment CollaborativeSBA microlenderCommunity lending · Business capital
- ECDC Enterprise Development GroupSBA microlenderCommunity lending · Business capital
- Life Asset, Inc.SBA microlenderCommunity lending · Business capital
- People Incorporated Financial ServicesSBA microlenderCommunity lending · Business capital
- Shenandoah Community Capital Fund, Inc.SBA microlenderCommunity lending · Business capital
- Virginia Affordable Housing Loan FundCommunity lending · Business capital
- Mission Asset FundAccepts ITIN
Zero-interest lending circles and credit building. SSN or ITIN accepted. Works through nonprofit partners across the country.
Personal - Accion Opportunity FundAccepts ITIN
Nonprofit small-business lender. Accepts ITIN in place of SSN. Serves most states, in English and Spanish.
Business capital - Grameen AmericaAccepts ITIN
Microloans for women entrepreneurs. Requires photo ID and proof of address — no SSN requirement. Branches in major metro areas.
Business capital
How to read this list.
We do not ask for your name, your email, or your number. Nothing on this page changes based on who you are.
A door is headquartered here when its head office sits inside the county line. The rest are based elsewhere and keep a branch you can walk into. We list both, and we label which is which.
Every institution on this page comes from public federal data — the CDFI Fund certified list (Aug 2026), NCUA credit union data (Jun 2026), and the SBA microloan intermediary list (Sep 2026) — plus a short national tier we verified by hand. We refresh each list as its agency publishes. No listing is paid.
Who actually approves home loans in Henry County.
home-purchase applications that reached a decision were turned down: 99 of 442.
- Applications
- 583
- Loans made
- 315
- Median rate
- 6.5%
- Credit history31.3%
- Information they couldn't verify27.3%
- Too much debt for the income22.2%
- Alcova Mortgage1391052.4%6.6%
- Rocket Mortgage956425.6%6.6%
- United Shore Financial Services472921.6%5.8%
- Mortgage Research Center552824.3%6.5%
- ValleyStar Credit Union482728.9%7.5%
- Atlantic Union Bank302122.2%7.5%
- C & F Mortgage18160%6.1%
- The Fidelity Bank211615%6.7%
- Atlantic Bay Mortgage Group19150%6.8%
- Carter Bank & Trust181318.8%6.9%
The 10 lenders that made the most home loans in Henry County in 2025, buying and refinancing together. The mark on each bar is the whole county's denial rate (29.3%). Home loans only: first-lien, owner-occupied, one-to-four-unit homes, as reported under the federal HMDA law. Small lenders below its reporting threshold — many of the credit unions above — don't report, so their loans aren't counted here. Rates are for loans made. Source: HMDA 2025 public loan records (FFIEC).
Buying a home in Henry County, Virginia is a real goal for many working families, solo contractors, and small investors in the Martinsville-Henry County area. This guide walks you through what home financing looks like here, who can qualify — including borrowers without a Social Security number — and which local lenders, credit unions, and nonprofit organizations actually serve this community. We also cover Virginia-specific programs that can lower your costs, and we flag the warning signs of predatory lending so you can protect yourself throughout the process.
What Is Home Financing?
Home financing means borrowing money to buy, build, or improve a home, then repaying that loan over time — usually 15 to 30 years — with interest. The loan is secured by the property itself, which means the lender can claim the home if you stop making payments. The most common products are:
- 01**Conventional mortgages**
Offered by banks and credit unions, typically requiring a credit score of 620 or higher and a down payment of 3–20%.
- 02**FHA loans**
Insured by the federal government, allowing lower credit scores (580+) and down payments as low as 3.5%. FHA is a common entry point for first-time buyers in rural Virginia counties.
- 03**USDA Rural Development loans**
Henry County is largely eligible for USDA's Section 502 program, which can offer 0% down payment to qualifying buyers in rural and semi-rural areas.
- 04**VA loans**
For eligible veterans and active-duty military, offering 0% down and no private mortgage insurance.
- 05**ITIN loans**
Designed for borrowers who do not have a Social Security number but do have an Individual Taxpayer Identification Number (ITIN). Several lenders in Virginia actively offer these products.
- MISSING ONE?Ask Iris which one you're missing.ASK A QUESTION ↓
Forget what the banks say.
Henry County sits in the Southern Virginia Piedmont region. The local economy has historically been shaped by furniture and textile manufacturing, with a growing base in healthcare, distribution, and small contracting businesses. This matters for your financing application because lenders look closely at income stability and employment type.
You may qualify if you:
- Are a W-2 employee with steady income from a local employer such as Martinsville Memorial Hospital, Bassett Furniture, or a regional contractor.
- Are a self-employed sole proprietor or solo contractor — lenders will want 2 years of tax returns showing consistent income.
- Are a seasonal or gig worker — some CDFI and ITIN-friendly lenders use bank statements (12–24 months) in place of traditional tax documents.
- Have an ITIN instead of a Social Security number — ITIN mortgage products exist and are offered by select Virginia lenders and credit unions (see Section 4).
- Have limited or thin credit history — some lenders can use alternative credit data such as rent payment history, utility bills, and insurance payments.
Income limits may apply for programs like USDA or Virginia Housing loans, but Henry County's relatively modest median household income (~$42,000–$46,000) means many working families fall within qualifying ranges.
Debt-to-income ratio (DTI): Most conventional lenders want your total monthly debt payments (including the new mortgage) to be no more than 43–45% of your gross monthly income. FHA allows up to 50% in some cases with compensating factors.
Get your papers in order.
Gathering your paperwork early saves time and stress. Here is what most lenders will ask for:
For all borrowers:
- Government-issued photo ID (passport, driver's license, or consular ID/matrícula consular)
- ITIN or Social Security number
- Two years of federal tax returns (personal and business if self-employed)
- Two most recent W-2s or 1099s
- Two to three months of recent bank statements
- Most recent pay stubs (last 30 days)
- Proof of any other income (rental income, child support, disability, etc.)
- Landlord contact information or 12 months of canceled rent checks (if renting)
For self-employed contractors:
- Two years of business tax returns (Schedule C, Form 1065, or S-corp returns)
- Year-to-date profit and loss statement
- Business bank statements (12–24 months)
- Business license if applicable
For the property:
- Signed purchase agreement (once you have an offer accepted)
- Homeowners insurance quote
- Any HOA documents if applicable
If you are using an ITIN, bring your ITIN assignment letter from the IRS and additional proof of identity. A local housing counselor can help you organize your paperwork before you ever sit down with a lender — this free service is available through Virginia Housing-approved agencies.
The doors worth knowing.
This is the most important section of this guide.
ALL 2 DOORS, BY NAME AND BY TOWN- 2
- DOORS HERE
- 71
- ACROSS VA
Based in Danville, Virginia. A credit union — owned by its members rather than by shareholders, which is exactly what changes the conversation after a bank has said no. It is a minority depository.
BEST FORA personal loan, or building a credit file from nothing, and buying, repairing or refinancing a home.Based in Martinsville, Virginia. A member-owned credit union, which means the people deciding on your file answer to depositors in the same towns you work in.
BEST FORBuying, repairing or refinancing a home, and working capital, equipment and payroll for a small business.
Don't fall into these traps.
Henry County is a modest-income community, and unfortunately that makes it a target for lenders and intermediaries who profit from confusion or desperation. Here is what to watch for:
1. Unusually high fees at closing.
Legitimate lenders are required to give you a Loan Estimate within 3 business days of your application. Compare the fees carefully. Origination fees above 1–2% of the loan amount are worth questioning.
2. Prepayment penalties.
Avoid any loan that charges you a penalty for paying it off early. Reputable mortgage products — especially FHA, USDA, VA, and Virginia Housing loans — do not carry prepayment penalties.
3. "Guaranteed approval" promises.
No legitimate lender can guarantee approval before reviewing your income, credit, and documents. This phrase is a red flag for predatory or fraudulent products.
4. Deed-based scams targeting immigrant homebuyers.
Some bad actors offer "rent-to-own" or "land contract" arrangements where the buyer makes payments for years but never receives a clear deed. Always have any purchase agreement reviewed by a licensed Virginia real estate attorney before signing.
5. Notario fraud.
In Latin American countries, a notario público holds legal authority similar to a lawyer. In the United States, a notary public does not. Be very cautious of anyone calling themselves a "notario" who offers to help with your mortgage, immigration, or legal documents. This is a common fraud vector targeting Spanish-speaking communities.
6. Pressure to decide quickly.
A real lender will give you time to review your Loan Estimate, compare offers, and ask questions. Anyone pushing you to sign immediately should be avoided.
7. Steering toward high-cost loans.
If you qualify for an FHA or USDA loan but a broker is pushing a higher-rate product with fewer consumer protections, ask why. You have the right to understand all your options.
What to do instead. Contact a HUD-approved housing counselor through Piedmont Community Services or Blue Ridge Housing before you start working with any lender. This free service gives you an independent advocate on your side.
The rules where you are.
Virginia has several protections and programs that directly benefit homebuyers in Henry County.
Virginia Housing Down Payment Assistance (DPA):
Virginia Housing offers a Down Payment Assistance grant — not a loan — of up to 2–2.5% of the purchase price for eligible first-time buyers. This can cover the bulk of your out-of-pocket upfront cost. Income and purchase price limits apply, but Henry County's lower home prices (~$120,000–$200,000 median) generally keep buyers within qualifying ranges.
Virginia Housing Plus Second Mortgage:
For buyers who need more than the grant covers, Virginia Housing also offers a second mortgage at a low fixed rate to cover down payment and closing costs. This is stacked on top of your first mortgage — ask your lender about combining these.
Granting Freedom (Virginia Housing):
A grant for eligible veterans and active-duty service members to make accessibility modifications to their home — not a purchase program, but worth knowing if you are a veteran homebuyer.
Virginia Homeowner Assistance Fund (HAF):
If you are an existing homeowner in Henry County experiencing hardship, the Virginia HAF program (administered through the Department of Housing and Community Development) offers mortgage payment assistance to prevent foreclosure. Visit dhcd.virginia.gov for current availability.
Virginia State Corporation Commission (SCC) Oversight:
Mortgage lenders and brokers operating in Virginia must be licensed through the Virginia SCC's Bureau of Financial Institutions. You can verify any lender's license at scc.virginia.gov/pages/Mortgage-Industry. This is one of the fastest ways to confirm you are working with a legitimate company.
Property Tax Relief:
Henry County offers a real estate tax relief program for elderly and disabled homeowners. If you or a household member is 65+ or permanently disabled, ask the Henry County Commissioner of the Revenue about eligibility. This reduces your ongoing cost of homeownership significantly.
The short version.
- 01
Here is the short version of everything in this guide:
- 02
Buying a home in Henry County, Virginia is achievable for working families, solo contractors, and small investors — including those with an ITIN, limited credit history, or self-employment income. The most important step is connecting with a local lender or nonprofit housing counselor who knows this community and its economy.
- 03
1. Call Virginia Housing at 1-800-227-8432 to find an approved local lender and learn about down payment assistance.
- 04
2. Contact Carter Bank & Trust or a local credit union in Martinsville for a no-obligation conversation about mortgage options.
Same county, another question.
Business FinancingLoans, lines of credit, and capital for small businesses and contractorsSEE IT IN HENRY COUNTY →
Personal FinancingPersonal loans, credit building, and ITIN-friendly financing optionsSEE IT IN HENRY COUNTY →73VA COUNTIES WITH DOORSThe whole stateEvery county in Virginia, in this same lane.71 institutions fund homes and repairs inside Virginia county lines.OPEN THE STATE →Still don't see your situation?
Ask Iris. She'll explain it the way it should have been explained the first time.