The Best Mortgage Lenders in Harriman, TN
Compare verified mortgage lenders serving Harriman, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Harriman
Featured Mortgage Lenders
ORNL Federal Credit Union
ORNL Federal Credit Union
ORNL Federal Credit Union stands as one of the most trusted mortgage lenders in the Harriman area with deep community roots and exceptional member satisfaction. As a local credit union with physical branches in Harriman, they offer personalized service and competitive rates that often beat larger banks. Their mortgage specialists provide comprehensive guidance through the entire home buying process, with particular expertise in USDA loans that are well-suited for the rural areas surrounding Harriman. Members consistently praise their responsive communication, streamlined application process, and commitment to finding the right mortgage solution for each borrower's unique situation.
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The Mortgage Network
The Mortgage Network
The Mortgage Network serves the entire East Tennessee region including Harriman with exceptional expertise in rural and suburban home financing. While based in Knoxville, they regularly work with clients throughout Roane County and have established a strong reputation for their knowledgeable approach to USDA and VA loans that are popular in the Harriman area. Their team of experienced loan officers provides personalized attention throughout the mortgage process, with customers frequently noting their efficiency, transparency, and ability to secure competitive rates. They excel at guiding first-time homebuyers through the complexities of mortgage approval while offering a comprehensive range of loan products.
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Guild Mortgage Company
Guild Mortgage Company
Guild Mortgage brings six decades of lending expertise to the Harriman market through their strong Knoxville presence that serves the broader East Tennessee region. As a nationwide lender with deep local roots, they combine the resources of a large institution with personalized service that rivals local brokers. They're particularly noted for their exceptional customer service and wide range of loan programs, including specialized options for rural properties common in the Harriman area. Guild consistently receives high marks for their responsive communication, efficient processing, and ability to close loans on time. Their experienced loan officers have extensive knowledge of the local real estate market and provide comprehensive guidance from application to closing.
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Frequently Asked Questions
Common questions about mortgage lending in Harriman, TN
What are the current mortgage rates like in Harriman, TN, and how do they compare to the national average?
Mortgage rates in Harriman are generally aligned with national averages, but local lenders may offer competitive rates due to the area's lower cost of living and property values. It's common to see rates slightly below the national average, especially for well-qualified buyers. Working with a local credit union or community bank in Roane County can sometimes yield more favorable terms.
Are there any down payment assistance programs specifically for Harriman or Roane County homebuyers?
Yes, the Tennessee Housing Development Agency (THDA) offers the Great Choice Home Loan program, which includes down payment assistance for eligible buyers in Harriman. Additionally, local programs may be available through the City of Harriman or Roane County, often targeting first-time homebuyers or those purchasing in specific revitalization areas to promote homeownership.
How does the appraisal process work in Harriman given its mix of historic homes and newer constructions?
Appraisals in Harriman require appraisers familiar with the local market's unique characteristics, including historic properties near downtown and newer builds in surrounding subdivisions. They must find comparable sales ("comps") within Roane County, which can be challenging for unique historic homes, potentially affecting the loan amount. Using a lender with local experience is crucial for a smooth process.
What should I know about property taxes and insurance when calculating my monthly mortgage payment in Harriman?
Roane County property taxes are relatively moderate, with a 2023 rate of approximately $2.50 per $100 of assessed value. Your lender will include these in your escrow payment. For insurance, consider that some older homes may require additional inspections or higher premiums for features like outdated electrical systems, which is common in Harriman's historic districts.
Are USDA Rural Development loans a viable option for buying a home in Harriman, TN?
Absolutely. Most of Harriman and the surrounding Roane County areas are eligible for USDA loans, which offer 100% financing with no down payment. This is a popular and advantageous program for the area, making homeownership more accessible given the region's rural designation. It's an excellent option for buyers meeting income eligibility requirements looking in qualifying locations.
Why Choose a Mortgage Lender in Harriman?
Local Market Knowledge
Lenders who understand Harriman'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 Harriman and get competitive rates on your home loan.