The Best Mortgage Lenders in Bulls Gap, TN
Compare verified mortgage lenders serving Bulls Gap, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Bulls Gap
Featured Mortgage Lenders
Mortgage Investors Group
Mortgage Investors Group
Mortgage Investors Group is one of East Tennessee's most highly-rated and established mortgage lenders with over 30 years of experience. They specialize in serving the entire East Tennessee region including rural areas like Bulls Gap. With exceptional 4.8-star ratings across multiple platforms, they are particularly renowned for their expertise in VA loans (given their proximity to military communities) and USDA rural development loans that are ideal for Bulls Gap residents. Their local underwriting and processing teams provide personalized service with competitive rates.
Loan Types:
First Horizon Bank Mortgage
First Horizon Bank
First Horizon Bank has a strong regional presence throughout East Tennessee with multiple branches serving the Bulls Gap area. As a established regional bank with deep roots in Tennessee communities, they offer the advantage of local decision-making combined with comprehensive mortgage products. They are particularly strong in construction loans and rural property financing, making them an excellent choice for Bulls Gap residents. Their mortgage specialists understand the local market dynamics and property values in Hawkins County and surrounding areas.
Loan Types:
Eastman Credit Union Mortgage
Eastman Credit Union
While technically a credit union, ECU has one of the most robust mortgage lending operations in Northeast Tennessee and serves the entire Bulls Gap area. With over 85 years of financial service experience in the region, they offer exceptionally competitive rates and personalized service. They are particularly noted for their first-time homebuyer programs and low closing costs. ECU mortgage specialists are known for their patience in guiding borrowers through the entire process and their deep understanding of rural property financing in East Tennessee.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Bulls Gap, TN
What are typical mortgage rates for homebuyers in Bulls Gap, TN, and how do they compare to state averages?
Mortgage rates in Bulls Gap generally align with national and Tennessee averages, but local lenders may offer competitive terms due to the smaller market. As of recent trends, rates in rural Greene County can sometimes be slightly higher than in metropolitan areas due to perceived lower demand, but shopping with local credit unions like the local branch of Eastman Credit Union can yield favorable rates. It's always wise to compare offers from both local and online lenders.
Are there any down payment assistance programs specifically available for Bulls Gap homebuyers?
Yes, the Tennessee Housing Development Agency (THDA) offers the Great Choice Home Loan program, which is available statewide, including in Bulls Gap. This program provides competitive interest rates and down payment assistance for eligible first-time and repeat buyers. Additionally, some local lenders may have partnerships or knowledge of county-specific grants or programs aimed at promoting homeownership in Greene County's rural communities.
How does the appraisal process work for a home in Bulls Gap, given its rural setting?
Appraisals in Bulls Gap can present unique challenges due to the rural nature and potentially fewer comparable home sales ("comps"). An appraiser familiar with Greene County will evaluate the property's value based on land size, outbuildings, and comparable sales in Bulls Gap or nearby towns like Mosheim or Rogersville. This process may take slightly longer than in urban areas, so it's important to factor in extra time for your mortgage closing timeline.
What should I know about property taxes and insurance when calculating my mortgage payment in Bulls Gap?
Greene County property taxes are relatively low compared to urban areas in Tennessee, which can make homeownership more affordable. However, you should budget for potentially higher homeowners insurance premiums, as rural areas like Bulls Gap may have limited fire department coverage, which insurers factor into rates. Your lender will help you set up an escrow account to manage these payments as part of your monthly mortgage bill.
Are USDA Rural Development loans a common and good option for buying a home in Bulls Gap?
Absolutely. Bulls Gap's location makes most of the area eligible for USDA Section 502 Guaranteed Loans, which are a popular and excellent option here. These loans offer 100% financing (no down payment) for eligible borrowers and properties, making them ideal for first-time buyers or those with limited savings. Given the town's classification, many local lenders are experienced in processing these government-backed loans.
Nearby Cities
Explore mortgage lenders in cities near Bulls Gap, TN
Why Choose a Mortgage Lender in Bulls Gap?
Local Market Knowledge
Lenders who understand Bulls Gap'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 Bulls Gap and get competitive rates on your home loan.