The Best Mortgage Lenders in Collierville, TN
Compare verified mortgage lenders serving Collierville, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Collierville
Featured Mortgage Lenders
Patriot Home Mortgage
Patriot Home Mortgage LLC
Patriot Home Mortgage is a highly-rated local mortgage broker serving Collierville and the greater Memphis area with exceptional customer service. They specialize in personalized mortgage solutions with competitive rates and have built a strong reputation for guiding clients through the entire home financing process. Their team of experienced loan officers provides comprehensive support for various loan types, making them a top choice for Collierville residents seeking local expertise and responsive service.
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First Horizon Bank Mortgage
First Horizon Bank
First Horizon Bank has a strong physical presence in Collierville with a local branch and mortgage team that serves the community. As a regional banking leader with deep roots in Tennessee, they offer competitive mortgage rates and a wide range of loan products. Their local loan officers understand the Collierville real estate market and provide personalized service with the stability of an established financial institution that has been serving Tennessee homeowners for decades.
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Guild Mortgage - Collierville
Guild Mortgage Company
Guild Mortgage's Collierville office provides exceptional mortgage services with a focus on customer education and satisfaction. As a nationally recognized mortgage lender with strong local presence, they offer competitive rates and a comprehensive range of loan options. Their team is known for transparent communication and helping clients navigate the mortgage process efficiently. With numerous positive reviews highlighting their professionalism and attention to detail, Guild Mortgage has established itself as a trusted mortgage provider in the Collierville community.
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Frequently Asked Questions
Common questions about mortgage lending in Collierville, TN
Are there any first-time homebuyer assistance programs specific to Collierville, TN?
While there are no town-specific programs, Collierville homebuyers have excellent access to statewide Tennessee Housing Development Agency (THDA) programs like the Great Choice Home Loan and the Great Choice Plus down payment assistance. These programs are particularly valuable in Collierville's competitive market, offering competitive interest rates and up to 6% of the loan amount in down payment help for eligible buyers.
How do Collierville's property tax rates affect my mortgage payment and qualification?
Collierville, located in Shelby County, has a combined property tax rate that is relatively moderate for the Memphis metro area, currently around $3.36 per $100 of assessed value. Lenders will factor this into your debt-to-income ratio (DTI). When budgeting, remember that property taxes in desirable Collierville school zones can be a significant portion of your monthly escrow payment, impacting how much home you can qualify for.
What is a typical down payment expectation for a conventional loan in Collierville's housing market?
Given Collierville's high demand and home values often above the national median, a strong down payment of 10-20% is common to make offers competitive, especially in sought-after neighborhoods like Schilling Farms or Bailey Station. While some loans allow for as little as 3-5% down, a larger down payment strengthens your offer in multiple-bid situations and can help you avoid private mortgage insurance (PMI).
Does Collierville's location in a FEMA flood zone affect the mortgage process?
Parts of Collierville, especially areas near the Wolf River and its tributaries, are in designated flood zones. If your desired property is in a Special Flood Hazard Area (SFHA), your lender will require you to purchase flood insurance as a condition of the mortgage. This is a mandatory, separate policy from homeowners insurance and will add to your monthly housing cost, so it's a critical early step in your home search.
How do mortgage rates in Collierville compare to the national average, and what local factors influence them?
Mortgage rates in Collierville are primarily set by national markets, but local competition among lenders and the town's affluent demographic profile can lead to very competitive offers. Borrowers with strong credit profiles—common in the area—often qualify for rates at or slightly below national averages. Working with a local lender familiar with appraisal values in Collierville's distinct neighborhoods can also help ensure a smooth process.
Nearby Cities
Explore mortgage lenders in cities near Collierville, TN
Why Choose a Mortgage Lender in Collierville?
Local Market Knowledge
Lenders who understand Collierville'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 Collierville and get competitive rates on your home loan.