The Best Mortgage Lenders in Bristol, TN
Compare verified mortgage lenders serving Bristol, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Bristol
Featured Mortgage Lenders
Fairway Independent Mortgage
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a top-rated lender with over 28 years of experience, renowned for its exceptional customer service, competitive rates, and extensive loan options. They have a strong local presence in the Tri-Cities area, including Bristol, with dedicated experts who understand the regional market. Their high ratings stem from efficient processing, personalized guidance, and a commitment to community involvement, making them a trusted choice for homebuyers in Bristol.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is highly regarded for its fast, streamlined loan processes and customer-centric approach. With 16 years of experience, they offer a wide range of mortgage products and have a significant presence in the Tri-Cities region, serving Bristol residents with local expertise. Their strong reviews highlight transparency, competitive pricing, and a focus on building relationships, ensuring a smooth home financing experience.
Loan Types:
New American Funding
New American Funding, LLC
New American Funding stands out for its diverse loan offerings and inclusive lending practices, with over two decades of experience. They serve the Bristol area through local offices, providing personalized service and competitive rates. Praised for their strong customer support and flexibility, they have built a reputation for helping a wide range of borrowers, including first-time homebuyers and those with unique financial situations, backed by numerous positive reviews.
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Frequently Asked Questions
Common questions about mortgage lending in Bristol, TN
Are there any first-time homebuyer programs specific to Bristol, TN that can help with down payments?
Yes, the Tennessee Housing Development Agency (THDA) offers the Great Choice Home Loan program, which is widely used in Bristol. This program provides competitive interest rates, down payment assistance in the form of a second mortgage, and is available to buyers meeting income and purchase price limits. Bristol buyers should also inquire with local lenders about any city-specific grants or partnerships.
How does Bristol's position as a twin city (with Bristol, VA) affect the mortgage process or lender choice?
While the cities are separate states, many lenders are licensed to operate in both Tennessee and Virginia and are familiar with the unique bi-state market. However, it's crucial to ensure your lender is properly licensed for the specific state of the property. Property taxes, recording fees, and some first-time buyer programs will differ based on the Tennessee side.
What are typical closing costs for a mortgage in Bristol, TN, and are there any local fees to anticipate?
Closing costs in Bristol typically range from 2% to 5% of the loan amount. In addition to standard fees, you will pay Sullivan County and City of Bristol property taxes in advance. Bristol does not have a local transfer tax, which can be a savings compared to some other regions, but always review your Loan Estimate for lender and third-party fees.
With Bristol's varied housing stock from historic homes to new developments, are there special mortgage considerations for older properties?
Yes, if you're purchasing a historic home in areas like the Fairmount District, a standard appraisal may require additional inspections for foundational or structural integrity. Some renovation loans, like the FHA 203(k), can be beneficial for updating older homes while keeping them within Bristol's historic guidelines. Always discuss the property's age and condition with your lender upfront.
How competitive is the mortgage rate environment in Bristol compared to the national average, and what impacts local rates?
Mortgage rates in Bristol generally align with national averages but can be influenced by local competition among lenders and the borrower's financial profile. Factors specific to the local market, like property appraisals coming in at value in Bristol's steady market, can help secure favorable terms. It's advisable to compare rates from a mix of local community banks, credit unions, and national lenders.
Why Choose a Mortgage Lender in Bristol?
Local Market Knowledge
Lenders who understand Bristol's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Tennessee.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Bristol and get competitive rates on your home loan.