The Best Mortgage Lenders in Jellico, TN
Compare verified mortgage lenders serving Jellico, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Jellico
Featured Mortgage Lenders
Mortgage Solutions Financial
Mortgage Solutions Financial
Mortgage Solutions Financial is a highly-rated regional mortgage lender serving East Tennessee, including Jellico. With nearly two decades of experience, they specialize in personalized mortgage solutions and have built a strong reputation for exceptional customer service. They offer a comprehensive range of loan products including specialized rural housing loans that benefit Jellico area homebuyers. Their team of experienced loan officers provides competitive rates and guided support throughout the entire mortgage process, making them a top choice for Campbell County residents.
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ORNL Federal Credit Union
ORNL Federal Credit Union
ORNL Federal Credit Union is one of East Tennessee's most established and trusted financial institutions, serving Jellico and surrounding communities. With over seven decades of operation, they offer competitive mortgage rates and personalized service through their local branch network. As a member-owned cooperative, they prioritize member satisfaction over profits, resulting in exceptional customer reviews and loyalty. Their mortgage specialists are known for providing comprehensive guidance through the home buying process, including specialized programs for first-time homebuyers that are particularly valuable in the Jellico market.
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Clayton Bank and Trust
Clayton Bank and Trust
Clayton Bank and Trust is a well-respected regional community bank that serves East Tennessee communities including Jellico. Founded in 1994, they have built a strong reputation for local decision-making and community-focused lending. Their mortgage department offers competitive rates and flexible terms, with loan officers who understand the unique aspects of rural Tennessee real estate markets. They excel at providing personalized service and maintaining long-term relationships with customers throughout Campbell County and the surrounding region, making them a reliable choice for Jellico area home financing needs.
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Frequently Asked Questions
Common questions about mortgage lending in Jellico, TN
Are there any special mortgage or down payment assistance programs for homebuyers in Jellico, TN?
Yes, homebuyers in Jellico may qualify for the Tennessee Housing Development Agency (THDA) Great Choice Home Loan program, which offers competitive interest rates and down payment assistance. Additionally, as a rural area, Jellico properties often qualify for USDA Rural Development loans, which require no down payment and are a popular choice for eligible buyers in the area.
How do property taxes in Campbell County affect my monthly mortgage payment in Jellico?
Campbell County has relatively low property tax rates compared to national averages, which helps keep escrow payments manageable. For a typical Jellico home, property taxes often add only a modest amount to your total monthly mortgage payment, but your lender will provide an exact estimate based on the specific property's assessed value.
What are typical mortgage rates offered by local lenders in Jellico?
Mortgage rates in Jellico are generally aligned with national averages, but local community banks and credit unions, such as Citizens Bank of New Tazewell or UCBI, may sometimes offer competitive relationship discounts. It's advisable to compare rates from both local institutions and larger national lenders to secure the best possible terms for your situation.
As a first-time homebuyer in Jellico, what should I know about the local market and financing?
The Jellico market features affordable entry-level homes, making FHA loans a common and practical financing choice for first-time buyers due to their lower down payment requirements (as low as 3.5%). It's also important to get a thorough home inspection, as some older housing stock in the area may have maintenance needs that could affect loan approval.
Does Jellico's location in a flood zone impact the mortgage process?
Properties located in or near the floodplain of the Clear Fork River or other creeks may require flood insurance as a condition of the mortgage. Your lender will order a flood zone determination during processing, and if required, this insurance premium must be included in your monthly escrow payment, adding to your overall housing cost.
Why Choose a Mortgage Lender in Jellico?
Local Market Knowledge
Lenders who understand Jellico'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 Jellico and get competitive rates on your home loan.