The Best Mortgage Lenders in Centerville, TN
Compare verified mortgage lenders serving Centerville, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Centerville
Featured Mortgage Lenders
Fairway Independent Mortgage
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is highly rated for its exceptional customer service and competitive rates, with a strong presence in Middle Tennessee. They specialize in a wide range of loan products and are known for their efficient, personalized mortgage process. With decades of experience, they have built a reputation for reliability and high customer satisfaction, serving Centerville and surrounding areas through their local branch network.
Loan Types:
New American Funding
New American Funding, LLC
New American Funding is a top-rated lender praised for its diverse loan options and commitment to serving diverse communities, including Centerville. They offer competitive rates and are known for their responsive customer service and ability to handle various credit situations. Their local Nashville office ensures personalized attention and quick processing, making them a trusted choice in the region.
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Pinnacle Financial Partners
Pinnacle Financial Partners
Pinnacle Financial Partners is a well-established regional bank with a strong local presence in Middle Tennessee, including service to Centerville. They are renowned for their personalized approach, competitive mortgage rates, and extensive experience in residential lending. Their commitment to community involvement and customer satisfaction has earned them high ratings and a loyal client base.
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Frequently Asked Questions
Common questions about mortgage lending in Centerville, TN
Are there any special mortgage programs for first-time homebuyers in Centerville, TN?
Yes, the Tennessee Housing Development Agency (THDA) offers the Great Choice Home Loan program, which is widely used in Centerville. This program provides competitive interest rates, down payment assistance, and flexible credit guidelines, making it an excellent option for first-time buyers in Hickman County. Many local lenders in Centerville are approved THDA lenders and can guide you through the application process.
How do property taxes in Hickman County affect my monthly mortgage payment in Centerville?
Hickman County has relatively low property tax rates compared to larger metropolitan areas in Tennessee, which is a benefit for Centerville homeowners. For 2023, the county rate is $2.64 per $100 of assessed value. Your lender will calculate an estimated monthly amount for property taxes to include in your escrow payment, but overall, this lower tax burden can make homeownership more affordable in the Centerville area.
What is the typical down payment needed for a home in Centerville's market?
While 20% down is ideal to avoid mortgage insurance, many buyers in Centerville utilize programs that allow for lower down payments. With a conventional loan, you may put down as little as 3-5%, and FHA loans require only 3.5% down. Given Centerville's median home price, this translates to a manageable upfront cost, but consulting with a local lender is key to finding the best option for your budget.
Are USDA rural housing loans available for properties in or near Centerville, TN?
Absolutely. Centerville and much of Hickman County are eligible for USDA Section 502 Guaranteed Loans, which offer 100% financing (no down payment) for qualified buyers and properties. This is a significant advantage for homebuyers looking in the Centerville area, as it opens up homeownership to those who may not have saved a large down payment. A local mortgage officer can confirm specific property eligibility.
How does the appraisal process work for a unique or rural property in the Centerville area?
Appraising unique, rural, or older properties in Centerville can be more complex due to fewer comparable sales ("comps"). Lenders often require appraisers with specific experience in the Hickman County market. It's important to work with a lender who uses local appraisers familiar with land value, outbuildings, and the nuances of the area to ensure a fair and accurate valuation for your loan.
Why Choose a Mortgage Lender in Centerville?
Local Market Knowledge
Lenders who understand Centerville'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 Centerville and get competitive rates on your home loan.