From the moment we established our office in Brentwood, Tennessee, it felt like home to The Home Loan Expert. From its rich country music scene to amazing southern food culture and amazing historic sites, Tennessee quickly had our love as more than a Tennessee mortgage company–but also as a home.
Although housing prices in metro areas like Nashville, Cleveland, and Knoxville are becoming more expensive, you can still get a great deal on a home with a great Tennessee mortgage lender. If you’re looking for a reliable mortgage lender to help you with your mortgage application, you might just find the right one below.
Buying a Home in Tennessee
Whether you’re a first-time homebuyer or not, buying a home in Tennessee isn’t exactly something you’d want to rush into. Apart from thinking about the location and the specific features of your home, you will need to consider your budget as well as financing options.
Tennessee Real Estate
Homes in Tennessee are still relatively affordable, but the prices of homes in metropolitan areas like Knoxville, Nashville, and Franklin have grown substantially over recent years.
According to data from Redfin, the prices of homes in Tennessee increased by 23.8% year-over-year in April. In comparison to nearby states such as South Carolina and Mississippi, Tennessee also has a more active housing market. The current median listing price for homes in Tennessee is $400,000, similar to nearby North Carolina at $399,950.
Still, housing costs in Tennessee are much cheaper compared to the prices of homes in places like California and New York. According to NerdWallet, the cost of housing markets in Los Angeles, California is 242% higher than in Knoxville, Tennessee.
Best Home Loan Mortgage Options in Tennessee
It’s hard to find the loan option that best suits you and your budget. Typing the phrase “mortgage lenders near me” into your browser’s search bar won’t necessarily make it easier since you will still need to read and review each loan option you’ll find.
To help you get started, here are some of the common loan types that you should know about.
- ARM (Adjustable-Rate Mortgages): An adjustable-rate mortgage is a type of mortgage that comes with a variable interest rate. Although ARMs can be quite beneficial during their fixed rate period, they’re not the ideal loan type to get if you’re planning to pay off your mortgage for a long time.
- Government-Insured Mortgages (FHA, VA, and USDA-backed mortgages): If you’re looking for a loan type that requires lower down payments and lower closing costs, a government-insured mortgage might just be the right mortgage loan for you. Although these loan types are guaranteed by the government, they are still originated by a bank corporation or a private mortgage lender.
- Fixed-Rate Mortgages: A fixed-rate mortgage, or simply a conventional mortgage, is a mortgage with a fixed interest rate that will not change throughout the whole mortgage term. This type of mortgage option might be perfect for you if you want to make the budgeting of your mortgage as easy as possible.
- Conventional loans: Conventional loans are the exact opposite of government-insured mortgages. Although conventional loans require a higher minimum credit score than government-insured mortgages, they require less paperwork and offer more options in terms of loan structure. Because of these features, they’re the most common type of mortgage.
If you’re still unsure which loan type would go best with your plans or budget, then you may want to read and review this full list of currently available loan types. Whether you currently live in Tennessee or are just starting to think of settling here, understanding different loan types will definitely help you as a homebuyer.
Best Tennessee Mortgage Lenders
We get it. Mortgage loan applications can be frustrating to deal with. However, with the help of a reliable Tennessee mortgage and home loans company, you can make the process of your mortgage much easier.
So, before you apply for a Bank of America mortgage or for any large bank corporation loan, don’t forget to also consider smaller, more friendly Tennessee mortgage lenders with home bases in your state. Plus, if you do try to search with “mortgage lenders near me” in Tennessee, you can end up with mortgage lenders that heavily depend on advertisers.
To help you on your home buying journey, here are some top Tennessee mortgage lenders that you should know about.
The Home Loan Expert
Headquartered in Brentwood, Tennessee, The Home Loan Expert offers a wide selection of mortgage loan types for borrowers. If you’re searching for an affordable conventional mortgage, look no further. We offer mortgage loans with down payments as low as 3%, while the down payment on a Bank of America mortgage is typically 5% or more.
Apart from their conventional mortgages and adjustable-rate mortgages, The Home Loan Expert also offers other loan types such as jumbo home loans, no income verification loans, government-insured mortgages, and many more. We’re the fastest growing lender in the nation, but with brick-and-mortar locations and experts living in the communities we work with, we’re still a local Tennessee mortgage and home loans company.
Start our 5-Minute Loan Approval* application today to find the best mortgage option that works for you in no time.
Loans & Services:
- Adjustable-Rate Mortgages
- Bank Statement Mortgages
- Cash-Out Refinance
- Conventional Loans
- Debt Consolidation
- FHA Loans
- First Responder Loan Program
- Fixed-Rate Loans
- Home Purchase Loan
- Jumbo Home Loans
- No Income Verification Loans
- Union Loans
- USDA Loans
- VA Loans
- Zero Dollar
- Personalized and hands-on service.
- It’s like working with a friend who’s also a home loan expert.
- Best in class closing costs
- Variety of loan and mortgage options
- Robust down payment assistance options
- Since we offer a wide range of loan types, some prior research might be necessary so that you can choose the best loan option quickly. Or just work with one of our team members!
Minimum down payment: Ranging from 3% to 0% (for VA members)
In comparison to other VA loan providers such as Mortgage Investors Group and New American Funding, Hero Loan offers a more straightforward mortgage application process.
Hero Loan can close VA loans in as little as 14 days. Furthermore, unlike other VA loan providers, Hero Loan does not work with independent underwriting services. They have their own editorial team and underwriting department, which normally means you can get lower mortgage rates and lower pocket costs through their VA loans.
How It Works:
Hero Loan has a great roster of loans and services to offer. Some of their other financial services include:
- VA Streamline Refinancing
- Conventional Loan Refinancing
- VA Cash-Out Refinancing
- FHA Loans
Once you’ve finally picked your loan option as a borrower, you’ll need to go to their website to fill out a short application. After you’re finished with your application, a loan officer will be assigned to explain the general details of the mortgage you’ve picked.
Hero Loan will also help you obtain the all-important VA Loan Certificate of Eligibility and fill out all the other paperwork you need for your mortgage. An underwriter will also thoroughly read and review your loan application. Once the underwriter has fully evaluated your loan, you’ll just need to wait until your loan is finally closed.
- Complete all VA paperwork for clients
- Underwrite all VA loans in-house
- Can close VA Loans in as little as 14 days
- No appraisal fees or out-of-pocket fees
- Services are for active-duty military, veterans, and their families only
Minimum down payment:
$0 down payment
The Tennessee Credit Union
Although The Tennessee Credit Union is not only a Tennessee mortgage and home loans company, they’re still a good mortgage lender to consider.
The Tennessee Credit Union is headquartered in South Nashville, Tennessee. They offer a decent range of mortgage options, including fixed-rate products, adjustable-rate mortgages (ARMs), and home equity loans. If you want to finish a small improvement project in your home, make sure to also read and review their No-Equity Home Improvement Loan. It’s a type of mortgage loan that will enable you to get a small home loan without using your home as collateral.
Like other credit unions, the Tennessee Credit Union also has its own editorial team for publishing important news and financial resources. Since The Tennessee Credit Union is not a bank corporation, their savings accounts are not FDIC-insured. Instead, they’re insured by the National Credit Union Administration (NCUA), a government-backed insurer of credit unions.
Loans & Services
- Home equity loan (second mortgage)
- Conventional mortgage loan
- Home improvement loan (fund improvements with no equity)
- Excellent, personalized customer service
- Transparency with fees and rates
- Lack of online functions
- You must be a member to access their services and some loans
Ascend Federal Credit Union
Like most mortgage lenders, Ascend Federal Credit Union also offers mortgage terms anywhere from five years to 30 years, so you’ll most likely find the mortgage term you’re looking for from their mortgage options.
Apart from their fixed mortgage loans and home equity loans, they also have a fairly wide selection of VA Loans and adjustable-rate mortgages to choose from. Moreover, they provide other kinds of financial services to consumers, such as life insurance, retirement planning, and investment services.
Even though Ascend offers fewer loan types than other lenders like New American Funding, and Mortgage Investors Group, they can still be worth considering depending on your needs.
Loans & Services
- Fixed-rate and adjustable-rate mortgages
- Home equity loans
- Personal loans
- Low closing costs
- Flexible terms
- Transparent rates
- Potential loan interest refund
- Some customers cite poor customer service in their reviews
- Less loan options than other lenders like The Home Loan Expert
For a full overview of the best mortgage lenders and home loans in Tennessee, head here!
Nashville Mortgage Lenders
Local to Nashville? For a review of some of the best Nashville mortgage lenders, head here!
The Home Loan Expert in Tennessee
At The Home Loan Expert, it’s always been our goal to make the mortgage process a positive experience for our borrowers. As a direct mortgage lender (that underwrites all our loans in-house), we make sure that the needs of our customers and communities are given priority.
We provide the most competitive interest rates and the newest loan programs in Tennessee, and we always ensure that the mortgage loans we work on are closed as quickly and smoothly as possible. That’s why we’re proud to say that we are one of the fastest growing mortgage providers in the country.
Although our office is headquartered in Brentwood, our loan officers will ensure that you’ll get the expert financial guidance you need from a top mortgage lender and the friendly, quality service you’d expect from a local, regardless of where you are in the state.
We provide Tennessee mortgage services in:
Our home loan options in Tennessee include:
- Adjustable-rate mortgages
- Bank statement mortgages
- Cash-out refinance
- Conventional loans
- Debt consolidation
- FHA Loans
- First responder loan program
- Fixed-rate loans
- Home purchase loans
- Jumbo home loan
- No income verification loan
- Rate-and-term refinance
- Teacher appreciation program
- Union loan
- USDA loans
- VA loans
- Zero Dollar down loans
Our Tennessee Story
Tennessee is undeniably a vibrant state to live in, thanks to its rich country music history, culture, and people. We’ve been offering mortgage loans to customers and Tennessee residents for more than five years now, and we hope to serve even more communities in this incredibly beautiful state! After all, we are striving to become the premier and most reliable Tennessee mortgage and home loans company.
We always strive to deliver the most efficient mortgage process to every customer or Tennessee resident we work with. Now that we’ve become one of the top mortgage lenders in Tennessee, we will continue to provide the best service and the lowest interest rate possible on your mortgage.
With the help of our financial experts, editorial team, and useful set of financial tools, we will make sure that you get the best loan option available. If you’re interested in purchasing a new home or refinancing one in Nashville, Memphis, Knoxville, and everywhere in between, please just call our Loan Expert.
The Home Loan Expert
1 (800) 991-6494
Or, if you’re already interested in applying for one of our loan options, you can also fill out a loan application now to get a quick answer from our team. We look forward to helping you find and own your dream home in Tennessee!
Our Tennessee office is located at:
320 Seven Springs Way
Brentwood TN 37027