The Best Mortgage Lenders in Five Points, TN
Compare verified mortgage lenders serving Five Points, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Five Points
Featured Mortgage Lenders
Mortgage Solutions Team
First Horizon Bank
First Horizon Bank (formerly First Tennessee Bank) maintains a strong presence in Middle Tennessee with specialized mortgage teams serving rural communities like Five Points. Their Lawrenceburg branch is conveniently located just 15 minutes from Five Points and offers comprehensive mortgage services with personalized local underwriting. They're particularly known for their expertise in USDA rural development loans, which are ideal for Five Points residents, and maintain consistently high customer satisfaction ratings for their responsive service and competitive rural lending rates.
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Home Lending Center
Leaders Credit Union
Leaders Credit Union serves Lawrence County and has established an excellent reputation for mortgage lending in rural Tennessee communities. While based in Jackson, they actively serve Five Points residents with specialized knowledge of the local real estate market. They consistently receive top marks for their competitive rates, exceptional customer service, and streamlined digital mortgage process. Their expertise with first-time homebuyer programs and construction loans makes them particularly valuable for Five Points area residents building or purchasing in this growing rural community.
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Churchill Mortgage - Columbia
Churchill Mortgage Corporation
Churchill Mortgage's Columbia branch serves the Five Points area with a strong focus on personalized mortgage solutions for rural homebuyers. They've built an outstanding reputation across Middle Tennessee for their transparent lending process and educational approach to home financing. Specializing in both purchase and refinance loans, they're particularly noted for their expertise with VA and USDA loans, which are popular options in the Five Points region. Their local loan officers have deep knowledge of Lawrence County's unique housing market and provide exceptional guidance throughout the mortgage process.
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Frequently Asked Questions
Common questions about mortgage lending in Five Points, TN
What are typical down payment requirements for homes in Five Points, TN, given the rural market?
In Five Points and surrounding Lawrence County, many lenders offer USDA Rural Development loans, which require **0% down payment** for eligible borrowers and properties. For conventional loans, a 3-5% down payment is common, but local lenders are familiar with the area's moderate home prices, making saving for a down payment more achievable than in urban markets.
Are there any local or state first-time homebuyer programs specifically beneficial for Five Points residents?
Yes, the Tennessee Housing Development Agency (THDA) offers the **Great Choice Home Loan** program, which provides competitive fixed-rate mortgages and down payment assistance to eligible first-time buyers. This is particularly valuable in Five Points, as it can be combined with USDA loans, offering a powerful option for buyers with moderate incomes in a rural area.
How do property taxes in Lawrence County and Five Points impact my monthly mortgage payment?
Lawrence County has relatively low property tax rates compared to national and state averages. When you escrow taxes with your mortgage, this results in a lower monthly payment component for taxes. Your lender will use the county's millage rate and the assessed value of the home to accurately calculate this portion of your PITI (Principal, Interest, Taxes, Insurance) payment.
What should I know about getting a mortgage for a home with land or acreage in the Five Points area?
Financing properties with significant acreage (often over 10 acres) can require a specialized "rural" or "land loan" product, as some conventional lenders have restrictions. It's crucial to work with a local lender or mortgage broker experienced in Lawrence County who understands how to appraise the combined value of the home and land and can navigate the appropriate loan programs.
How does the appraisal process work in Five Points' limited housing market, where comparable sales can be sparse?
Appraisals in a rural market like Five Points may require the appraiser to pull comparable sales ("comps") from a wider geographic area, sometimes including neighboring towns like Lawrenceburg or Loretto. Lenders familiar with the area understand this and work with appraisers who have local knowledge to ensure a fair valuation that reflects the true market, even with fewer recent sales.
Why Choose a Mortgage Lender in Five Points?
Local Market Knowledge
Lenders who understand Five Points'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 Five Points and get competitive rates on your home loan.