The Best Mortgage Lenders in Henry, TN
Compare verified mortgage lenders serving Henry, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Henry
Featured Mortgage Lenders
Henry County Bank Mortgage Team
Henry County Bank
Henry County Bank is a locally-owned community bank that has been serving Henry and surrounding counties for over 120 years. As the primary financial institution headquartered in the region, they offer personalized mortgage services with local underwriting and decision-making. Their mortgage team has extensive experience with rural property financing and understands the unique needs of Henry County residents. Customers consistently praise their responsive service, competitive rates, and deep community commitment, making them the top choice for local home financing.
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First Bank Mortgage Division
First Bank
First Bank has been serving Northwest Tennessee for over 115 years with multiple branches throughout Henry County. Their mortgage division offers comprehensive lending solutions with the advantage of local processing and underwriting. They are particularly strong in agricultural and rural property lending, which is essential for Henry area residents. The bank maintains excellent relationships with local real estate professionals and provides competitive construction-to-permanent loan options. Customer reviews highlight their knowledgeable staff and smooth closing processes.
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Churchill Mortgage - Paris Office
Churchill Mortgage Corporation
Churchill Mortgage has built a strong reputation throughout Middle and West Tennessee with their dedicated Paris office specifically serving Henry County and surrounding areas. They specialize in personalized mortgage solutions with a focus on educational guidance throughout the homebuying process. Their local loan officers have deep knowledge of Henry's real estate market and maintain strong relationships with area real estate agents. Churchill is particularly noted for their expertise in VA and USDA rural development loans, which are popular options in the Henry area. Customers consistently rate them highly for communication and closing efficiency.
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Frequently Asked Questions
Common questions about mortgage lending in Henry, TN
Are there any special mortgage programs for first-time homebuyers in Henry, TN?
Yes, the Tennessee Housing Development Agency (THDA) offers the Great Choice Home Loan program, which is widely used in Henry. This program provides competitive interest rates, down payment assistance, and flexible credit guidelines, making it an excellent option for first-time buyers in the area. Many local lenders in Henry County are approved THDA lenders and can guide you through the application process.
How do property taxes in Henry, TN, affect my monthly mortgage payment?
Henry County has relatively low property tax rates compared to national averages, which can positively impact your overall monthly payment. For the 2023 tax year, the rate in Henry County is approximately $0.77 per $100 of assessed value. Your lender will include an estimate of these taxes in your monthly escrow payment, and it's wise to confirm the exact rate for the specific property, as rates can vary slightly between the city of Henry and the county.
What is the typical down payment needed for a home in Henry's market?
While 20% down is ideal to avoid private mortgage insurance (PMI), many buyers in Henry utilize programs that allow for much lower down payments. Conventional loans can go as low as 3-5% down, and FHA loans require only 3.5% down. Given the area's affordable home prices, saving for a down payment on a median-priced home in Henry is often more achievable than in larger Tennessee cities.
Does living in a rural area like Henry make me eligible for any specific mortgage loans?
Absolutely. Many properties in and around Henry qualify for USDA Rural Development loans, which offer 100% financing (no down payment) for eligible borrowers and properties. This is a significant advantage for buyers looking in Henry County, as it includes areas just outside the main town. A local lender can help determine if a specific property meets the USDA's eligibility map guidelines.
How do local lenders in Henry compare to big national banks for getting a mortgage?
Working with a local lender or mortgage broker in Henry County can provide distinct advantages, such as deeper knowledge of property valuations in specific neighborhoods like Puryear or Springville, and familiarity with local appraisers and title companies. They often have more flexibility and personalized service, which can streamline the closing process, a benefit in Tennessee's competitive but more moderate-paced market compared to major metros.
Why Choose a Mortgage Lender in Henry?
Local Market Knowledge
Lenders who understand Henry'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 Henry and get competitive rates on your home loan.