The Best Mortgage Lenders in Butler, TN
Compare verified mortgage lenders serving Butler, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Butler
Featured Mortgage Lenders
Eastman Credit Union Mortgage Team
Eastman Credit Union
Eastman Credit Union is one of the highest-rated financial institutions serving Northeast Tennessee, including Butler and Johnson County. With over 85 years of operation, ECU has built an exceptional reputation for personalized mortgage services and competitive rates. They offer a comprehensive range of loan products with special expertise in USDA rural development loans that are particularly beneficial for Butler area residents. Their local presence in nearby Johnson City ensures accessible in-person service while maintaining deep community ties throughout the region.
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First Horizon Mortgage Division
First Horizon Bank
First Horizon Bank has served Tennessee communities for over a century and maintains a strong presence in Northeast Tennessee. As one of the region's most established mortgage lenders, they offer extensive experience with rural property financing that suits the Butler market. Their local mortgage specialists understand the unique aspects of mountain and rural property lending in Johnson County. First Horizon receives consistent praise for their responsive service, competitive rate options, and seamless loan processing from application to closing.
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Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation operates a highly-rated local branch in Johnson City that actively serves the Butler and Johnson County area. With exceptional customer satisfaction ratings and numerous industry awards, Fairway is renowned for their efficient loan processing and competitive pricing. Their local loan officers have specific expertise in mountain and rural property financing, making them an excellent choice for Butler residents. The company receives consistent praise for their transparent communication, flexible loan options, and ability to close loans quickly.
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Frequently Asked Questions
Common questions about mortgage lending in Butler, TN
What are the typical mortgage rates and down payment requirements for homes in Butler, TN?
Mortgage rates in Butler generally align with national averages but can be influenced by local lender competition and property types. For the area's more rural and manufactured homes, some lenders may require slightly higher down payments, often 5-10%, compared to traditional site-built homes. It's advisable to compare offers from local credit unions, regional banks, and national lenders.
Are there any special loan programs for first-time homebuyers in Butler?
Yes, the Tennessee Housing Development Agency (THDA) offers the Great Choice Home Loan program, which is widely accessible in Butler. This program provides competitive interest rates, down payment assistance, and flexible credit guidelines, which is particularly helpful for buyers in Johnson County where incomes may be more modest. A local lender approved by THDA can guide you through the specific eligibility requirements.
How does the appraisal process work for a rural property or land in the Butler area?
Appraising rural properties around Butler can be more complex due to varying land sizes, well and septic systems, and comparable sales being farther apart. Lenders often require appraisers with specific experience in rural markets. Be prepared for the process to potentially take longer and for the appraisal to carefully consider the value of the land itself, not just the structure.
What should I know about getting a mortgage for a manufactured home in Butler?
Financing a manufactured home in Butler requires specific loan programs, such as an FHA Title II loan or a conventional loan if the home is permanently affixed to a owned foundation and meets HUD code. Not all lenders offer these loans, so you'll need to find a specialist. The home's age, condition, and how it is titled (as real or personal property) are critical factors for approval.
Are there local grants or assistance programs specific to Johnson County or Butler for homebuyers?
While state-level programs like THDA are primary, it's worth checking with the Johnson County Community Development office or local non-profits for any targeted assistance or rehabilitation grants, especially for homes in need of repair. Occasionally, USDA Rural Development loans, which offer 100% financing, are available for eligible low-to-moderate income buyers in the designated rural areas around Butler.
Nearby Cities
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Why Choose a Mortgage Lender in Butler?
Local Market Knowledge
Lenders who understand Butler'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 Butler and get competitive rates on your home loan.