The Best Mortgage Lenders in Clifton, TN
Compare verified mortgage lenders serving Clifton, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Clifton
Featured Mortgage Lenders
Mortgage Department
FirstBank
FirstBank is a highly-rated regional banking institution with deep roots in Tennessee and strong presence throughout the Middle and West Tennessee regions. While based in Nashville, they maintain multiple branches throughout the Clifton service area, including their nearby Savannah location. FirstBank receives exceptional ratings for their personalized mortgage services, competitive rates, and local decision-making authority. Their mortgage team has extensive experience with rural property financing, which is particularly valuable for Clifton area homebuyers. Customers consistently praise their responsive service, transparent communication, and expertise with USDA loans that benefit rural communities like Clifton.
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Mortgage Lending Division
Regions Bank
Regions Bank maintains a significant presence throughout Tennessee with multiple branches serving the Clifton area from Jackson and other nearby cities. As a major regional financial institution, they offer comprehensive mortgage services with particularly strong ratings for their digital mortgage experience and local branch support. Regions receives high marks for their competitive rate offerings, first-time homebuyer programs, and efficient closing processes. Their mortgage specialists have extensive knowledge of the West Tennessee market and are experienced with the types of properties common in the Clifton area, including rural and semi-rural homes.
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Mortgage Services
Tennessee Valley Federal Credit Union
Tennessee Valley Federal Credit Union, while headquartered in Chattanooga, serves members across multiple Tennessee counties and has established itself as a top-rated mortgage lender for rural communities. TVFCU receives excellent customer satisfaction ratings for their member-focused approach, competitive rates, and specialized knowledge of Tennessee property financing. They are particularly strong with USDA rural development loans that benefit Clifton area homebuyers, and their construction loan expertise is valuable for the growing Clifton market. Members consistently praise their personalized service, local underwriting, and commitment to finding the right mortgage solution for each borrower's unique situation.
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Frequently Asked Questions
Common questions about mortgage lending in Clifton, TN
What are typical down payment requirements for homes in Clifton, TN, given its rural market?
In Clifton's more affordable market, many conventional loans are available with down payments as low as 3-5%. For eligible buyers, USDA loans are a popular choice as they offer 100% financing (zero down payment) for homes in this designated rural area, which can be a significant advantage for local first-time buyers.
Are there any local or state-specific first-time homebuyer programs beneficial for purchasing in Clifton?
Yes, the Tennessee Housing Development Agency (THDA) offers the Great Choice Home Loan program, which provides competitive fixed-rate mortgages and down payment assistance grants to eligible first-time buyers. This is particularly useful in Clifton to help cover closing costs, which can be a hurdle despite lower home prices.
How does the appraisal process work in Clifton, given its location on the Tennessee River and mix of property types?
Appraisals in Clifton require local expertise due to the variety of properties, from riverfront lots to more traditional rural homes. An appraiser familiar with Wayne County will carefully compare similar sales ("comps"), which can sometimes be limited, and assess any unique factors like flood zones or land value, which can impact the final valuation and loan approval.
What should I know about property taxes and insurance when calculating my monthly mortgage payment in Clifton?
Wayne County property taxes are relatively low, which helps keep overall housing costs affordable. However, if your property is near the Tennessee River or in a designated flood zone, your lender will require flood insurance, which must be escrowed as part of your monthly mortgage payment and will increase your total cost.
Is it difficult to get a mortgage for a manufactured or modular home in Clifton?
Financing for manufactured homes is possible but has specific requirements. The home must be permanently affixed to a foundation and titled as real estate. USDA and FHA loans are common options for these properties in Clifton, but you'll need to work with a lender experienced in this type of rural financing to navigate the process smoothly.
Nearby Cities
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Why Choose a Mortgage Lender in Clifton?
Local Market Knowledge
Lenders who understand Clifton'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 Clifton and get competitive rates on your home loan.