The Best Mortgage Lenders in Hampton, TN
Compare verified mortgage lenders serving Hampton, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Hampton
Featured Mortgage Lenders
Mortgage Solutions of Tennessee
Mortgage Solutions of Tennessee
Mortgage Solutions of Tennessee is a highly-rated local mortgage broker serving the entire Northeast Tennessee region, including Hampton. With nearly two decades of experience, they specialize in personalized mortgage solutions and have built an exceptional reputation for customer service. Their team of local experts understands the unique aspects of the Tri-Cities housing market and offers competitive rates across all loan types. They are particularly noted for their expertise in USDA rural development loans, which are highly relevant for Hampton area properties.
Loan Types:
Eastman Credit Union Mortgage Department
Eastman Credit Union
As one of the largest credit unions in Tennessee, Eastman Credit Union has served the Tri-Cities region for over eight decades and actively serves Hampton residents. ECU offers highly competitive mortgage rates to members and provides exceptional customer service with local decision-making. Their mortgage team includes specialists familiar with rural properties and the specific needs of Carter County homebuyers. Members consistently praise their straightforward process, competitive rates, and personalized service from local loan officers.
Loan Types:
Bank of Tennessee Mortgage Division
Bank of Tennessee
Bank of Tennessee is a well-established community bank with deep roots in Northeast Tennessee and strong presence throughout Carter County, including Hampton. Their mortgage division is known for local underwriting and decision-making, providing faster closings and personalized service. They offer competitive conventional and government-backed loans with particular expertise in rural property financing. Customers consistently rate them highly for their responsive communication, local expertise, and commitment to the communities they serve.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Hampton, TN
Are there any special mortgage or down payment assistance programs for first-time homebuyers in Hampton, TN?
Yes, the Tennessee Housing Development Agency (THDA) offers the Great Choice Home Loan program, which is widely used in Hampton. This program provides competitive fixed-rate mortgages paired with down payment assistance in the form of a second mortgage that can be forgiven over time. Local lenders in Carter County are familiar with this program and can guide you through the eligibility requirements, which include income limits and a homebuyer education course.
How do property taxes in Carter County affect my monthly mortgage payment in Hampton?
Carter County has relatively low property tax rates compared to national averages, which is a benefit for your monthly mortgage payment when taxes are escrowed. For 2023, the county rate is $2.54 per $100 of assessed value (assessment ratio is 25%). When getting pre-approved, your lender will estimate these taxes to calculate your full PITI (Principal, Interest, Taxes, Insurance) payment, ensuring your budget is accurate for homes in the Hampton area.
What are the common types of mortgages used by homebuyers in Hampton's rural market?
Given Hampton's rural setting and more moderate home prices, conventional fixed-rate loans and USDA Rural Development loans are extremely popular. USDA loans are particularly relevant as much of the area qualifies for 100% financing (no down payment) for eligible borrowers and properties. VA loans are also common due to the proximity to the Mountain Home VA facility and a sizable veteran population in the region.
How does the appraisal process work for unique or rural properties in the Hampton area?
Appraisals for homes with significant land, unique features, or in very rural locations around Hampton can require appraisers with specific expertise. Lenders will order an appraisal that considers the value of the land, outbuildings, and may use "comparable" sales from a wider geographic area due to lower transaction volume. This process can sometimes take longer than in urban markets, so it's important to build extra time into your purchase contract contingency period.
Is homeowner's flood insurance typically required for mortgages in Hampton, TN?
While Hampton itself isn't a high-risk flood zone, many beautiful properties are near the Doe River or in valleys. Lenders will require a review of the FEMA Flood Insurance Rate Map (FIRM) for the specific property address. If the home is in a designated Special Flood Hazard Area (SFHA), flood insurance will be mandatory for the mortgage. Even if not required, it's a wise consideration for properties near water, and your lender can help you determine the official zone.
Nearby Cities
Explore mortgage lenders in cities near Hampton, TN
Why Choose a Mortgage Lender in Hampton?
Local Market Knowledge
Lenders who understand Hampton'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 Hampton and get competitive rates on your home loan.