The Best Mortgage Lenders in Johnson City, TN
Compare verified mortgage lenders serving Johnson City, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Johnson City
Featured Mortgage Lenders
Eastman Credit Union Mortgage Department
Eastman Credit Union
Eastman Credit Union stands as the premier mortgage lender in the Johnson City region with deep community roots and exceptional member satisfaction. As one of Tennessee's largest credit unions with over 85 years of service, ECU offers highly competitive rates and personalized mortgage solutions. Their local mortgage specialists provide comprehensive guidance through the entire home financing process, with particular expertise in VA loans benefiting the region's military community. The credit union's not-for-profit structure allows for lower fees and better terms, while their extensive local branch network ensures convenient in-person service throughout the Tri-Cities area.
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Mortgage Investors Group - Johnson City
Mortgage Investors Group
Mortgage Investors Group has built an outstanding reputation across East Tennessee with three decades of dedicated mortgage lending expertise. Their Johnson City office features some of the region's most experienced loan officers who provide exceptional personalized service and local market knowledge. MIG consistently earns top ratings for their streamlined application process, competitive rates, and expertise with various loan programs including specialized VA and USDA rural development loans. As a locally-owned mortgage company with deep community ties, they're known for going above-and-beyond to ensure smooth closings and customer satisfaction throughout Northeast Tennessee.
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Fairway Independent Mortgage Corporation - Johnson City
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation brings national strength with local expertise to Johnson City homebuyers. With over 25 years in business and multiple local loan officers serving the Tri-Cities region, Fairway consistently delivers exceptional service and highly competitive mortgage products. They're particularly noted for their efficient processing times, extensive loan program options, and dedicated local team that understands the specific dynamics of the Northeast Tennessee housing market. The Johnson City branch maintains strong community involvement while leveraging Fairway's national resources to provide cutting-edge technology and lending solutions tailored to local homebuyer needs.
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Frequently Asked Questions
Common questions about mortgage lending in Johnson City, TN
Are there any special first-time homebuyer programs available in Johnson City, TN?
Yes, the Tennessee Housing Development Agency (THDA) offers the Great Choice Home Loan program, which is widely used in Johnson City. This program provides competitive fixed-rate mortgages, down payment assistance, and flexible credit guidelines. Many local lenders are approved THDA partners and can help you navigate the requirements, which are particularly beneficial given the city's median home prices.
How do property taxes in Washington County (Johnson City) affect my monthly mortgage payment?
Washington County, which includes Johnson City, has a relatively low property tax rate compared to national averages, which helps keep escrow payments manageable. For 2023, the combined county and city rate is approximately $2.54 per $100 of assessed value. Your lender will calculate this into your monthly payment, and it's a key factor in the overall affordability of homes in the area.
What is the typical down payment needed for a home in Johnson City's competitive market?
While 20% down is ideal to avoid private mortgage insurance (PMI), many buyers in Johnson City successfully purchase homes with 3-5% down using conventional loans, or even 0% down with VA or USDA loans. The prevalence of USDA loans is notable here, as many properties in and around Johnson City qualify for this zero-down program due to its rural designation.
Does Johnson City's growth and the presence of ETSU and Ballad Health create unique mortgage considerations?
Absolutely. The stable employment from the university and healthcare system can be favorable for loan approval. Furthermore, programs like the VA Home Loan are commonly used by staff and veterans affiliated with the VA Medical Center. Lenders in the area are also familiar with financing properties near ETSU, which can be good investments for primary residences or rental properties.
Are closing costs higher in Johnson City compared to other parts of Tennessee?
Closing costs in Johnson City are generally in line with the Tennessee average, typically ranging from 2% to 5% of the home's purchase price. A local consideration is the potential for specific inspections, like septic systems for more rural properties in the county, which can add to upfront costs. It's wise to shop lenders, as some local institutions may offer competitive closing cost credits or promotions.
Nearby Cities
Explore mortgage lenders in cities near Johnson City, TN
Why Choose a Mortgage Lender in Johnson City?
Local Market Knowledge
Lenders who understand Johnson City'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 Johnson City and get competitive rates on your home loan.