5 Best Mortgage Lenders in Tennessee 2019
If you’re a repeat or first time home buyer looking to purchase a home in Tennessee, there are some amazing mortgage solutions available to you. Tennessee is home to around 4.8 million people, and with today’s mortgage rates as low as they are, the housing market is ready for serious home buyers. Home values have increased by roughly 6.9 percent between December of 2017 through 2018 and are forecasted to rise another 4.3% through 2019.
The rising home values make it essential for home buyers on the market for a mortgage loan to do everything they can to keep their housing costs as low as possible. Getting a great mortgage would probably be the best place to start. And, whether you’re looking for fixed rate or adjustable rate mortgages, FHA, VA, or USDA home loan options that offer amazing benefits like low interest rates or flexible down payment requirements, loans to cover the purchase and repair of a home, or even a large enough jumbo loan to purchase your dream home outright, The first step is to find the right lender.
In this article, we’ll review the best mortgage lenders in the state of Tennessee, and how they can help you on your quest to home ownership.
#1 Tennessee Mortgage Lender: Fairway Independent Mortgage Corporation
A rapidly growing name in the national home finance industry, Fairway Independent Mortgage Corporation is one of the best options for conventional, FHA, and VA financing across the country. Home buyers will agree that it’s actually pretty easy to find a Fairway location when its time to get a home loan. Beyond that, their customer service is well known to be top notch.
Fairway Independent Mortgage Corporation has stunning reviews from its client base over the years. One thing they seem to excel in is cutting down the closing costs that borrowers are expected to pay at the end of a mortgage transaction, as well as facilitation a faster closing.
Fairway may very well be the best option for first time home buyers on this list. Their attention to detail and completely transparent methodology is perfect for obtaining a mortgage loan at a great rate in a stress-free environment.
#2 Tennessee Mortgage Lender: New American Funding
The good folks over at New American Funding know how to give people a great mortgage experience. For first time home buyers, their commitment to providing affordable home financing is nearly unrivaled.
The proof is in the reviews from past clients who consistently comment on the extraordinary diligence and overall sincerity of the New American Funding team. Home buyers who choose to finance their home purchase with NAF are in the hands of a knowledgeable and hard-working group.
The New American Funding team leaves no questions unanswered and is almost never out of reach. They are also quite adept at reducing the closing costs of mortgages down to the bare minimum, in an effort to provide home loans of the highest up-front affordability.
#3 Tennessee Mortgage Lender: Gateway Mortgage Group
Gateway Mortgage Group may have only been around since the year 2000, but in that short space of under 2 decades, they have grown into one of the largest privately held mortgage companies in the country. According to them, their success comes as a direct result of their dedication to originate home loans combined with their passion for strengthening families.
The Gateway Mortgage Group team takes special care to put down roots in whatever communities where they have branches. This “localization” helps them to better do their jobs by providing a deeper understanding of the communities they are a part of, and the families that reside within them. In turn, they are able to tailor unique, personalized home loans for their clients.
Gateway Loan Officers are experts at loan origination, and know just how to cut all of the tension and stress associated with a mortgage transaction out of the picture completely.
#4 Tennessee Mortgage Lender: Loan Depot
As large as Loan Depot has become since its inception, there is no surprise that it would make a list such as this one. Truly a powerhouse when it comes to home finance, Loan Depot is no stranger to conventional and government-insured mortgages and the borrowers who need them.
The loan officers under the employ at Loan Depot are highly knowledgeable and well-trained individuals. Their expertise is shown clearly in the speed and ease of the mortgage transactions they take part in, And their uncompromised goal of providing down to the decimal quotes that hold true through closing, leaving the borrower with no surprises.
Customer service is a big deal for the Loan Depot team, and they typically do not disappoint. Past clients have been stunned by the lower than expected rates and fees, combined with speedy closings.
#5 Tennessee Mortgage Lender: Summit Mortgage, Inc.
As a company whose motto is “It has never been about us”, Summit Mortgage truly puts their clients before anything else. The team at Summit is well aware of just how stressful a mortgage transaction can be, so they endeavor to create a simple, fast, and easy mortgage experience for home buyers.
Summit Mortgage’s website is incredibly informational, with tons of insight on may different loan types, including conventional, FHA, and VA loans. There even offer guidance on any mortgage product that they offer, from any of their loan officers at home buyer’s choosing.
Past clients all seem to acknowledge the down to earth, honest, and hard-working nature of the loan officers from Summit Mortgage, and above all, the simplicity of the mortgage transaction.
Best Tennessee Mortgage Lender Picks 2019:
Best for First Time Home Buyers: New American Funding
Best Online Experience: Loan Depot
Best Local Lender: Summit Mortgage, Inc.
Best Face-to-Face Experience: Gateway Mortgage Group
Best Overall Performance: Fairway Independent Mortgage Corporation
Shop Around Before You Get a Tennessee Home Loan
Our picks for the best mortgage lenders in Tennessee may not necessarily represent the best lender for your financial situation, goals, and desires. Everyone’s story is unique, and sometimes the best mortgage terms can be found in the most obscure places. Regardless of experience or lack thereof, the best plan of action is to shop around with multiple lenders to find out which one can provide the ideal mortgage solution that comes with the terms and affordability that best suits any particular financial situation.
While looking at reviews can be a huge help, getting a one on one consultation could mean saving thousands. If you’d like some help in locating the best mortgage lender in your area, don't hesitate to contact a home.loans mortgage expert!