The Best Mortgage Lenders in Cornersville, TN
Compare verified mortgage lenders serving Cornersville, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Cornersville
Featured Mortgage Lenders
Caliber Home Loans
Caliber Home Loans, Inc.
Caliber Home Loans is a top-rated mortgage lender known for its competitive rates and exceptional customer service. With over 16 years in business, they offer a wide range of loan products, including USDA loans ideal for rural areas like Cornersville. Their strong presence in Middle Tennessee and high customer satisfaction scores make them a reliable choice for homebuyers in the region.
Loan Types:
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is highly regarded for its innovative digital mortgage platform and consistently high customer ratings. Founded in 2000, they have extensive experience and provide competitive financing options, with services covering Cornersville and the broader Tennessee area. Their commitment to transparency and efficiency has earned them a reputation for excellence.
Loan Types:
New American Funding
New American Funding, LLC
New American Funding offers personalized mortgage solutions with a focus on community lending and diversity. With over 21 years of experience, they have strong reviews for their customer service and flexible loan programs, including USDA loans suitable for Cornersville's rural setting. Their regional presence and commitment to homeowner education make them a trusted lender.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Cornersville, TN
Are there any special mortgage or down payment assistance programs for first-time homebuyers in Cornersville, TN?
Yes, the Tennessee Housing Development Agency (THDA) offers the Great Choice Home Loan program, which is widely used in Cornersville. This program provides competitive fixed-rate mortgages paired with down payment assistance in the form of a second, forgivable loan. Local lenders in Marshall County are well-versed in these programs and can help you determine eligibility based on income and the purchase price of the home.
How do property taxes in Cornersville and Marshall County affect my monthly mortgage payment?
Marshall County has relatively low property tax rates compared to national averages, which is a benefit for Cornersville homeowners. For 2023, the county rate is approximately $2.64 per $100 of assessed value, with the City of Cornersville adding a small municipal rate. Your lender will calculate an escrow payment for these taxes, and the low rates help keep your total monthly mortgage payment more affordable.
What is the typical down payment required for a mortgage on a home in Cornersville's rural market?
While 20% down is ideal to avoid private mortgage insurance (PMI), many buyers in Cornersville utilize loans with lower requirements due to the area's moderate home prices. FHA loans are common and require as little as 3.5% down, and USDA loans are a popular option for eligible rural properties in and around Cornersville, offering 0% down payment. Conventional loans with 3%, 5%, or 10% down are also readily available through local banks.
Are USDA home loans a viable option for properties in Cornersville, TN?
Absolutely. Cornersville's designation as a rural area makes most properties eligible for USDA Section 502 Guaranteed Loans. This is a significant advantage, as these loans offer 100% financing (no down payment), competitive interest rates, and more flexible credit guidelines. A local mortgage lender can confirm a specific property's eligibility using the USDA website and guide you through this excellent program.
How does the appraisal process work for a unique or older farmhouse in the Cornersville area?
Appraising unique or historic rural properties requires an appraiser with specific local expertise. Lenders will assign an appraiser familiar with Marshall County who understands the value of land, outbuildings, and older home construction. It's crucial to work with a real estate agent and lender who have experience in the local market to ensure the appraisal accurately reflects the property's true value based on comparable sales in the area.
Nearby Cities
Explore mortgage lenders in cities near Cornersville, TN
Why Choose a Mortgage Lender in Cornersville?
Local Market Knowledge
Lenders who understand Cornersville'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 Cornersville and get competitive rates on your home loan.