The Best Mortgage Lenders in Columbia, TN
Compare verified mortgage lenders serving Columbia, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Columbia
Featured Mortgage Lenders
Regions Mortgage
Regions Bank
Regions Bank stands out as one of the most established and highly-rated mortgage lenders serving Columbia directly with a physical branch location. With over 25 years of mortgage lending experience in the Tennessee market, they offer the advantage of local underwriting and decision-making combined with the resources of a major regional bank. Customers consistently praise their competitive rates, personalized service from local loan officers, and smooth closing process. Their strong community presence and extensive experience with various loan types make them a top choice for Columbia homebuyers seeking reliability and local expertise.
Loan Types:
Churchill Mortgage
Churchill Mortgage Corporation
Churchill Mortgage has built an exceptional reputation across Middle Tennessee, including strong service in Columbia, with their Dave Ramsey-endorsed approach to mortgage lending. Founded in 1992, they specialize in providing straightforward, transparent mortgage solutions with a focus on financial education and customer empowerment. Their high rating reflects consistent customer satisfaction with their detailed communication, competitive rates, and ethical lending practices. While based in Brentwood, they actively serve the Columbia market with dedicated local loan officers who understand the specific needs of Maury County homebuyers.
Loan Types:
New American Funding
New American Funding
New American Funding brings innovative mortgage solutions to Columbia homebuyers through their strong Nashville-area presence. As a direct lender with their own underwriting and funding capabilities, they offer faster processing times and more flexible guidelines than many competitors. They're particularly noted for their excellent service to first-time homebuyers and diverse loan programs, including special initiatives for minority borrowers. Their local loan team has extensive experience with the Columbia real estate market and provides personalized service with the backing of a national lender's resources and technology platform.
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Frequently Asked Questions
Common questions about mortgage lending in Columbia, TN
Are there any first-time homebuyer assistance programs specific to Columbia, TN?
Yes, the Tennessee Housing Development Agency (THDA) offers the Great Choice Home Loan program, which is widely used in Columbia. This program provides competitive fixed-rate mortgages paired with down payment assistance in the form of a second mortgage that can be forgiven over time. Many local lenders in Columbia are approved THDA lenders and can guide you through the specific income and purchase price limits that apply to Maury County.
How do property taxes in Columbia, TN, affect my monthly mortgage payment?
Maury County and the City of Columbia have relatively moderate property tax rates compared to national averages, which can make homeownership more affordable. Your lender will calculate an escrow payment for taxes as part of your monthly mortgage payment. It's important to note that property values—and thus tax assessments—have been rising with the local market, so it's wise to budget for potential increases after purchase.
What is a typical down payment needed for a home in Columbia's competitive market?
While 20% down is ideal to avoid private mortgage insurance (PMI), many buyers in Columbia successfully purchase homes with down payments as low as 3% (conventional) or 3.5% (FHA). Given the competitive nature of the market, especially for well-priced homes, a stronger down payment can make your offer more attractive to sellers. Local lenders often recommend at least 5-10% down to improve your offer's competitiveness.
Are USDA rural housing loans available in Columbia, TN, and the surrounding areas?
Absolutely. A significant portion of Maury County, including areas on the outskirts of Columbia, is eligible for USDA Section 502 Guaranteed Loans, which offer 100% financing (no down payment). This is a major advantage for eligible buyers with moderate incomes looking at properties just outside the city limits. A local mortgage officer can quickly map a specific property's address to confirm its USDA eligibility.
How does Columbia's historic district affect the mortgage process?
If you're purchasing a home in Columbia's designated historic districts (like the Athenaeum Rectory or West End), it can impact your loan. Some lenders may have specific appraisal requirements, and if the home requires renovations, you may need a renovation loan like the FHA 203(k). It's crucial to work with a lender experienced in historic properties to navigate any potential challenges with older building systems or preservation guidelines.
Why Choose a Mortgage Lender in Columbia?
Local Market Knowledge
Lenders who understand Columbia'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 Columbia and get competitive rates on your home loan.