The Best Mortgage Lenders in Kelso, TN
Compare verified mortgage lenders serving Kelso, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Kelso
Featured Mortgage Lenders
Mortgage Department
First National Bank of Pulaski
First National Bank of Pulaski is a highly-rated community bank serving southern Middle Tennessee, including Kelso and Lincoln County. With over a century of local banking experience, they offer personalized mortgage services with competitive rates and deep understanding of rural property financing. Their mortgage team receives exceptional reviews for responsive communication and guiding borrowers through the entire process. As a local institution, they understand the unique aspects of financing properties in the Kelso area and maintain strong relationships with local real estate professionals.
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Mortgage Lending Team
Fayetteville Mortgage & Investment
Fayetteville Mortgage & Investment is a dedicated mortgage brokerage serving Lincoln County and surrounding areas, including Kelso. With nearly 25 years of experience, they have built an outstanding reputation for securing competitive rates and providing exceptional customer service. They specialize in rural property financing and USDA loans, which are particularly relevant for the Kelso area. Customers consistently praise their attention to detail, transparent communication, and ability to close loans efficiently. Their local expertise and extensive lender network make them a top choice for Kelso residents.
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Mortgage Services
ORNL Federal Credit Union
ORNL Federal Credit Union is one of Tennessee's largest credit unions with a strong presence across 21 counties in East Tennessee, serving Lincoln County and Kelso residents. With over 75 years of financial service experience, they offer competitive mortgage rates and exceptional member service. Their mortgage team receives high marks for personalized attention and expertise in various loan programs, including specialized options for rural properties. As a member-owned cooperative, they prioritize customer satisfaction over profits, resulting in consistently high ratings and loyal members throughout their service area.
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Frequently Asked Questions
Common questions about mortgage lending in Kelso, TN
What are the typical mortgage rates available for homebuyers in Kelso, TN, and how do they compare to state averages?
Mortgage rates in Kelso are generally competitive with the Tennessee state average, often influenced by the rural nature of the area. As of recent trends, rates for a 30-year fixed mortgage in Lincoln County typically range from the mid-6% to low-7% APR, but can vary based on credit score and loan type. It's advisable to compare offers from local lenders and regional credit unions, as they may have specific programs for rural communities like Kelso.
Are there any down payment assistance programs specifically for buyers in Kelso, TN?
Yes, homebuyers in Kelso can access statewide Tennessee programs like the Great Choice Home Loan program, which offers down payment assistance. Additionally, as part of Lincoln County, buyers may qualify for USDA Rural Development loans, which require no down payment for eligible properties in designated rural areas—a perfect fit for much of the Kelso region. Consulting with a local mortgage officer familiar with these programs is key to navigating eligibility.
How does Kelso's rural location impact the home appraisal process for a mortgage?
Appraisals in Kelso can be more complex due to its rural setting and potentially fewer comparable home sales ("comps"). Lenders may need to look at properties in a wider geographic area, such as Fayetteville or Lynchburg, which can sometimes affect valuation. It's important to work with a lender who uses appraisers experienced with rural Tennessee properties to ensure a fair and accurate assessment.
What types of properties in Kelso might qualify for a USDA loan, and what are the benefits?
Most properties in and around Kelso are located in USDA-eligible rural zones, making them prime candidates for USDA Section 502 Guaranteed Loans. These loans offer significant benefits, including 100% financing (no down payment), competitive interest rates, and more flexible credit guidelines. To confirm a specific property's eligibility, you can check the USDA's online eligibility map or consult a local lender approved for USDA loans.
As a first-time homebuyer in Kelso, what local resources or lenders should I consider?
First-time buyers in Kelso should connect with local community banks and credit unions, such as those based in Fayetteville, which often have personalized service and knowledge of the area. Additionally, utilizing free homebuyer education through the Tennessee Housing Development Agency (THDA) is highly recommended. These courses provide crucial information and may be required to qualify for the best state-assisted loan programs.
Why Choose a Mortgage Lender in Kelso?
Local Market Knowledge
Lenders who understand Kelso'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 Kelso and get competitive rates on your home loan.