The Best Mortgage Lenders in Hillsboro, TN
Compare verified mortgage lenders serving Hillsboro, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Hillsboro
Featured Mortgage Lenders
Mortgage Department
Pinnacle Financial Partners
Pinnacle Financial Partners is a highly-rated regional bank founded in 2000, serving the Hillsboro area with a strong presence in Middle Tennessee. Known for competitive rates and personalized service, they excel in customer satisfaction with a 4.7 rating from 180 reviews. Their experienced loan officers specialize in various loan types, including first-time homebuyer programs, and they are praised for their local market expertise and efficient closing processes.
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Mortgage Services
Ascend Federal Credit Union
Ascend Federal Credit Union, founded in 1951, is a top-rated local lender deeply embedded in the Hillsboro community, with a branch in nearby Manchester. Boasting a 4.9 rating from 150 reviews, they offer member-focused mortgage solutions with competitive rates and low fees. Their long-standing reputation for reliability, personalized customer service, and support for local homebuyers makes them a trusted choice for various loan types, including VA and USDA loans popular in rural areas like Hillsboro.
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Loan Officer Team
New American Funding
New American Funding is a nationally recognized mortgage lender founded in 2003, with a strong track record of serving Tennessee communities like Hillsboro. Rated 4.8 from 120 reviews, they are praised for their competitive rates, diverse loan options, and exceptional customer service. Their local loan advisors provide tailored solutions, including programs for low-to-moderate income borrowers, and they are known for their quick turnaround times and high customer satisfaction.
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Frequently Asked Questions
Common questions about mortgage lending in Hillsboro, TN
What are the typical down payment requirements for homes in Hillsboro, TN, given its rural market?
In Hillsboro's more affordable rural market, many conventional loans can be secured with a 5% down payment, and FHA loans require as little as 3.5% down. For eligible buyers, USDA loans offer a significant local advantage with 0% down payment required, as Hillsboro and Coffee County are USDA-eligible areas, making homeownership more accessible.
Are there any first-time homebuyer programs specifically for Hillsboro residents?
Yes, the Tennessee Housing Development Agency (THDA) offers the Great Choice Home Loan program, which provides competitive interest rates and down payment assistance to eligible first-time buyers in Hillsboro. Additionally, local lenders often have knowledge of regional or county-specific grants or soft-second mortgage programs that can help with closing costs in Coffee County.
How do property taxes in Coffee County affect my monthly mortgage payment in Hillsboro?
Coffee County has relatively low property tax rates compared to urban areas in Tennessee. The current combined county and city rate is approximately $2.48 per $100 of assessed value (40% of appraised value). This means your escrow payment for taxes will be lower, making your total monthly mortgage payment more manageable compared to buyers in higher-tax counties.
What should I know about getting a mortgage for a manufactured or modular home in Hillsboro?
Financing for manufactured homes in Hillsboro is common but has specific requirements. The home must be permanently affixed to a foundation and titled as real estate. Local lenders familiar with rural properties can guide you through using FHA, VA, or USDA loans for this purpose, which are often more flexible than conventional loans for manufactured homes in this market.
How does the appraisal process work in Hillsboro's rural setting, and what challenges might arise?
Appraisals in rural Hillsboro can be more complex due to fewer comparable home sales ("comps"). An appraiser may need to look at properties in a wider geographic area or older sales, which can sometimes affect the valuation. Working with a lender experienced in rural Tennessee markets is crucial, as they understand how to properly underwrite and appraise properties in areas like Coffee County.
Why Choose a Mortgage Lender in Hillsboro?
Local Market Knowledge
Lenders who understand Hillsboro'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 Hillsboro and get competitive rates on your home loan.