The Best Mortgage Lenders in Frankewing, TN
Compare verified mortgage lenders serving Frankewing, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Frankewing
Featured Mortgage Lenders
First Commerce Credit Union Mortgage Team
First Commerce Credit Union
First Commerce Credit Union is the premier local financial institution serving Giles County and the Frankewing area with deep community roots. They consistently receive outstanding ratings for personalized mortgage services, competitive rates, and local underwriting decisions. As a member-owned cooperative, they prioritize customer satisfaction over profits, offering comprehensive mortgage solutions with exceptional local service. Their mortgage team has extensive experience with rural properties and agricultural lending, making them particularly well-suited for the Frankewing market.
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First Farmers and Commercial Bank Mortgage Division
First Farmers and Commercial Bank
First Farmers and Commercial Bank has been serving southern Middle Tennessee for over a century with a strong reputation for agricultural and residential lending. They maintain an excellent rating for their mortgage services, particularly for rural properties common in the Frankewing area. Their local loan officers understand the unique needs of the community and offer competitive rates with personalized service. The bank specializes in construction loans and rural development financing, making them an ideal choice for Frankewing residents.
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F&M Bank Mortgage Services
F&M Bank
F&M Bank has been a trusted community bank serving the broader region including Frankewing for over a century. They maintain strong ratings for their mortgage department's responsiveness and local decision-making capabilities. Specializing in rural and agricultural lending, they understand the unique property types and financing needs of the Frankewing area. Their experienced mortgage team offers competitive rates and flexible terms with the personal service only a community bank can provide, making them a top choice for local home financing.
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Frequently Asked Questions
Common questions about mortgage lending in Frankewing, TN
What are the typical down payment requirements for homes in Frankewing, TN, given its rural setting?
For most conventional loans in Frankewing, a 5-20% down payment is standard. However, due to the area's rural designation, many properties may qualify for USDA loans, which offer 100% financing with no down payment required. It's important to have a lender verify the specific property's eligibility for this program.
Are there any local or state-specific first-time homebuyer programs that can help with purchasing a home in Frankewing?
Yes, the Tennessee Housing Development Agency (THDA) offers the Great Choice Home Loan program, which is widely used in Frankewing. This program provides competitive interest rates and down payment assistance for eligible first-time and repeat buyers. Combining a THDA loan with a USDA mortgage can be a powerful strategy for qualified buyers in the area.
How does the appraisal process work for a manufactured or modular home in Frankewing, which are common in Giles County?
Appraising manufactured homes in Frankewing requires a specialist familiar with rural and factory-built properties. The home must be permanently affixed to a foundation and classified as real estate, not personal property. Lenders will often require a specific "MH Advantage" loan or an FHA loan for manufactured homes meeting certain criteria.
What should I know about property taxes and insurance when calculating my monthly mortgage payment in Frankewing?
Giles County property taxes are relatively low compared to urban areas, which helps keep monthly payments affordable. For insurance, due to the rural landscape, lenders will require a standard homeowner's policy, and you may want to consider additional coverage for septic systems or wells, which are common on properties outside the city limits.
Are mortgage rates in Frankewing different from those in larger Tennessee cities like Nashville or Memphis?
Mortgage rates are primarily set by national markets and your personal credit profile, not your specific town. Therefore, rates in Frankewing are generally consistent with those statewide. However, local lenders with expertise in rural lending may offer specialized programs or have more flexibility with USDA and THDA loans that can effectively reduce your borrowing costs.
Why Choose a Mortgage Lender in Frankewing?
Local Market Knowledge
Lenders who understand Frankewing'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 Frankewing and get competitive rates on your home loan.