The Best Mortgage Lenders in Cordova, TN
Compare verified mortgage lenders serving Cordova, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Cordova
Featured Mortgage Lenders
First Horizon Bank Mortgage
First Horizon Bank
First Horizon Bank stands out as one of the top mortgage lenders in Cordova with deep roots in Tennessee. As a regional banking powerhouse with multiple physical branches throughout the Memphis metropolitan area, they offer personalized service combined with the stability of a long-established financial institution. Their mortgage specialists provide comprehensive guidance through the entire home financing process, from pre-approval to closing. Customers consistently praise their competitive rates, local decision-making authority, and exceptional customer service. Their extensive experience with Memphis-area real estate markets makes them particularly valuable for Cordova homebuyers navigating local market conditions.
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Churchill Mortgage
Churchill Mortgage Corporation
Churchill Mortgage has built an outstanding reputation throughout the Memphis metropolitan area, including Cordova, for their transparent lending practices and educational approach to home financing. Founded by industry veteran Mike Hardwick, the company emphasizes responsible lending and financial literacy. Their local mortgage experts provide personalized service with a focus on finding the right loan product for each borrower's unique situation. Churchill receives exceptional customer reviews for their responsiveness, clear communication throughout the loan process, and competitive rate offerings. Their strong community presence and dedication to customer satisfaction make them a top choice for Cordova residents.
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Regions Mortgage
Regions Bank
Regions Bank provides comprehensive mortgage services through their Cordova branch location, offering the convenience of local, face-to-face service combined with the resources of a major regional bank. Their mortgage professionals are known for their expertise in Tennessee real estate markets and their ability to guide borrowers through complex financing scenarios. Regions receives high marks for their competitive rates, efficient processing, and strong customer support throughout the loan lifecycle. The bank's physical presence in Cordova allows for personalized service and local decision-making, while their extensive product portfolio ensures they can meet diverse borrowing needs from first-time homebuyers to experienced investors.
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Frequently Asked Questions
Common questions about mortgage lending in Cordova, TN
Are there any special down payment assistance programs for first-time homebuyers in Cordova, TN?
Yes, the Tennessee Housing Development Agency (THDA) offers the Great Choice Home Loan program, which is widely used in Cordova. This program provides competitive interest rates and down payment assistance in the form of a second mortgage that can be forgiven over time. Many local lenders in the Memphis metro area are approved THDA lenders and can guide you through the eligibility requirements, which include income limits and a homebuyer education course.
How do Cordova's property taxes impact my monthly mortgage payment?
Cordova is located within Shelby County, which has some of the highest property tax rates in Tennessee. Your lender will calculate an escrow payment based on the county's effective tax rate, which is approximately 2.5-2.7% of the assessed value. This significantly affects your total monthly payment, so it's crucial to factor this in when determining your budget for a home in Cordova's desirable neighborhoods.
What is the typical timeframe for mortgage approval and closing on a home in Cordova's competitive market?
In Cordova's active market, a streamlined pre-approval is essential. From contract to closing, you should typically plan for 30-45 days. Working with a local lender familiar with Shelby County appraisers and title companies can help avoid delays. Given the demand in popular subdivisions like Davies Plantation or Chimneyrock, sellers often favor offers with strong, local lender pre-approvals to ensure a reliable closing.
Are USDA rural development loans available for any parts of Cordova, TN?
While most of Cordova is considered suburban and does not qualify for USDA loans, some outlying eastern sections may still be eligible. The USDA eligibility map is very specific, so you must check the official website or consult with a local mortgage broker who can pinpoint eligible properties. For most Cordova homes, conventional, FHA, or VA loans are the standard financing options.
Does the risk of flooding in certain Cordova areas affect my mortgage or insurance requirements?
Yes, if your prospective home is in a FEMA-designated Special Flood Hazard Area (SFHA), such as near the Wolf River, your lender will require you to purchase flood insurance as a condition of the mortgage. This is a separate policy from homeowners insurance and can add a substantial cost. Always review the flood zone map during your due diligence, as this impacts both loan eligibility and long-term affordability.
Why Choose a Mortgage Lender in Cordova?
Local Market Knowledge
Lenders who understand Cordova'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 Cordova and get competitive rates on your home loan.