The Best Mortgage Lenders in Greenfield, TN
Compare verified mortgage lenders serving Greenfield, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Greenfield
Featured Mortgage Lenders
Mortgage Department
Regions Bank
Regions Bank stands out as one of the most established and highly-rated mortgage lenders serving Greenfield and West Tennessee. With a strong local branch presence in nearby Martin, they offer personalized service combined with the resources of a major regional bank. Their mortgage team has extensive experience with rural and agricultural properties common in the Greenfield area, and they excel in USDA loans which are particularly relevant for this region. Customers consistently praise their responsive communication, competitive rates, and smooth closing process.
Loan Types:
Mortgage Division
First Horizon Bank
First Horizon Bank has deep roots in Tennessee with a dedicated mortgage division that specifically serves rural communities like Greenfield. They are particularly strong in construction loans and permanent financing, making them ideal for new home builds in the area. Their mortgage advisors have specialized knowledge of Weakley County real estate markets and offer competitive rates for both purchase and refinance transactions. The bank receives high marks for their local decision-making capability and expertise with Tennessee-specific mortgage programs.
Loan Types:
Mortgage Services
Leaders Credit Union
Leaders Credit Union has built an exceptional reputation for mortgage lending throughout West Tennessee, including dedicated service to Greenfield residents. As a member-owned financial institution, they consistently offer some of the most competitive rates and lowest fees in the region. Their mortgage team specializes in working with first-time homebuyers and provides extensive educational resources. They are particularly praised for their personalized service, with many reviewers noting they feel like family rather than just customers. Their expertise with USDA rural development loans makes them an excellent choice for Greenfield home purchases.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Greenfield, TN
Are there any down payment assistance programs specifically for homebuyers in Greenfield, TN?
Yes, the Tennessee Housing Development Agency (THDA) offers the Great Choice Home Loan program, which is widely used in Greenfield. 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 Weakley County are approved THDA lenders and can guide you through the application process.
How do property taxes in Greenfield, TN, affect my monthly mortgage payment?
Greenfield and Weakley County have relatively low property tax rates compared to national averages, which is a significant benefit for your monthly mortgage payment. For 2023, the county rate is approximately $2.64 per $100 of assessed value. Your lender will use this rate to calculate an escrow estimate, but the overall property tax burden in Greenfield is generally considered affordable, helping to keep total monthly payments lower.
What types of properties in Greenfield might require special mortgage considerations?
If you're looking at older homes in Greenfield's historic districts or rural properties on the outskirts of town, you may need special loan considerations. For older homes, an FHA 203(k) renovation loan could be useful for updates. For rural properties with acreage, some conventional lenders may have restrictions, so exploring a USDA Rural Development loan could be an excellent option, as much of the area is eligible.
What is the typical timeframe for mortgage closing in Greenfield's real estate market?
In Greenfield's more relaxed market compared to major cities, a typical mortgage closing takes 30 to 45 days. This allows time for thorough home inspections and appraisals, which may require appraisers to travel from nearby Jackson or Martin. Working with a local lender who understands the area can help streamline the process and ensure all local title work is handled efficiently.
Are there local banks or credit unions in Greenfield that offer competitive mortgage rates?
Yes, using a local institution like First Bank or a nearby credit union such as ORNL Federal Credit Union (which serves West Tennessee) can be advantageous. These local lenders often have a deep understanding of Greenfield's property values and may offer relationship discounts or special first-time homebuyer programs. It's wise to compare their rates and service with larger national lenders to find the best fit.
Why Choose a Mortgage Lender in Greenfield?
Local Market Knowledge
Lenders who understand Greenfield'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 Greenfield and get competitive rates on your home loan.