The Best Mortgage Lenders in Kenton, TN
Compare verified mortgage lenders serving Kenton, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Kenton
Featured Mortgage Lenders
Reelfoot Bank
Reelfoot Bank
As the premier community bank serving Obion County and the Kenton area for over a century, Reelfoot Bank offers personalized mortgage services with local decision-making. Their experienced loan officers provide competitive rates on all major loan types including USDA loans ideal for rural areas like Kenton. With deep roots in Northwest Tennessee, they understand the local real estate market and offer flexible terms for both purchase and refinance transactions.
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First South Financial Credit Union
First South Financial Credit Union
First South Financial Credit Union has been serving Northwest Tennessee residents including Kenton for nearly 70 years. They offer competitive mortgage rates and personalized service through their Union City branch located just 15 minutes from Kenton. Their mortgage specialists are known for guiding members through the entire home financing process with exceptional customer service. They particularly excel in first-time homebuyer programs and offer special benefits for credit union members.
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Leaders Credit Union
Leaders Credit Union
Serving West Tennessee including the Kenton area, Leaders Credit Union offers comprehensive mortgage solutions with competitive rates and low fees. While based in Jackson, they actively serve customers throughout the region with digital mortgage applications and local service. Their mortgage team has extensive experience with rural property financing and USDA loans that are particularly relevant for Kenton homebuyers. They consistently receive high marks for their responsive communication and streamlined loan processes.
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Frequently Asked Questions
Common questions about mortgage lending in Kenton, TN
Are there any special mortgage programs for first-time homebuyers in Kenton, TN?
Yes, the Tennessee Housing Development Agency (THDA) offers the Great Choice Home Loan program, which is popular in Kenton. This program provides competitive fixed-rate mortgages, down payment assistance, and flexible credit guidelines, making it an excellent option for first-time buyers in Gibson County. Local lenders are well-versed in these programs and can guide you through the application process.
How do property taxes in Kenton, TN, affect my monthly mortgage payment?
Gibson County, where Kenton is located, has relatively low property tax rates compared to national averages, which can make homeownership more affordable. Your lender will calculate an escrow payment for taxes as part of your monthly mortgage payment. It's advisable to get an estimate of the annual tax bill for your specific property, as rates can vary slightly within the county.
What is the typical down payment required for a mortgage on a home in Kenton's rural market?
While 20% down is standard to avoid private mortgage insurance (PMI), many buyers in Kenton utilize loans with lower requirements. USDA Rural Development loans are particularly relevant here, as much of the area qualifies for 100% financing with no down payment. Conventional loans with 3-5% down and FHA loans with 3.5% down are also common options for the area's more modestly priced homes.
Are USDA loans a good option for buying a home in Kenton, TN?
Absolutely. Given Kenton's designation as a rural area, USDA Section 502 Guaranteed Loans are a highly advantageous and common mortgage product. They offer 100% financing, competitive interest rates, and more flexible credit requirements. Most properties in and around Kenton will be eligible, making this a top program to discuss with a local loan officer.
How does the appraisal process work for a home in a small town like Kenton?
Appraisals in Kenton can present unique challenges due to fewer recent comparable sales ("comps") in the immediate area. An appraiser may need to look at sales in nearby towns like Rutherford or Dyer. It's important to work with a lender who uses appraisers familiar with the local Gibson County market to ensure they properly value the property based on its condition, land, and rural characteristics.
Why Choose a Mortgage Lender in Kenton?
Local Market Knowledge
Lenders who understand Kenton'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 Kenton and get competitive rates on your home loan.