The Best Mortgage Lenders in Lexington, TN
Compare verified mortgage lenders serving Lexington, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Lexington
Featured Mortgage Lenders
Regions Mortgage
Regions Bank
Regions Bank maintains a strong physical presence in Lexington with a full-service branch and mortgage lending office. As one of the largest regional banks in the Southeast, they offer comprehensive mortgage services with local loan officers who understand the Lexington market. Their extensive branch network throughout Tennessee provides convenient in-person service, and they consistently receive high marks for customer service and competitive rate offerings. Regions has been serving Tennessee communities for decades with a reputation for reliability and community involvement.
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First Horizon Mortgage
First Horizon Bank
First Horizon Bank has deep roots in Tennessee and maintains a strong presence throughout the western part of the state, including serving Lexington residents. While their nearest physical branch is in Jackson, they actively serve the Lexington market with dedicated mortgage specialists. The bank is particularly noted for their first-time homebuyer programs and competitive conventional loan offerings. With over 150 years of operation, First Horizon brings substantial experience and stability to mortgage lending, earning consistent praise for their personalized service and local market knowledge.
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Churchill Mortgage
Churchill Mortgage Corporation
Churchill Mortgage is a Tennessee-based mortgage lender that serves the entire state, including Lexington. Founded in Brentwood, they have built an exceptional reputation for customer service and ethical lending practices. Specializing in relationship-based lending, they assign dedicated loan officers who guide clients through the entire mortgage process. Churchill consistently receives outstanding reviews for their transparency, communication, and competitive rates. They are particularly strong with VA and FHA loans, and their extensive experience with Tennessee's rural properties makes them an excellent choice for Lexington area homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Lexington, TN
What are the typical down payment requirements for buying a home in Lexington, TN?
In Lexington's more affordable market, many conventional loans require a 5-10% down payment, but qualified buyers can often utilize USDA Rural Development loans, which require 0% down, as Henderson County is eligible. FHA loans with 3.5% down are also common, especially for first-time buyers. Local lenders are familiar with these options given the area's rural designation.
Are there any special mortgage programs for first-time homebuyers in Lexington?
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 Lexington. This program is particularly valuable here, as it can be combined with USDA or FHA loans to make homeownership more accessible in the local market.
How does the appraisal process work for a home in a rural area like Lexington?
Appraisals in Lexington and surrounding Henderson County can be more complex due to the mix of rural properties and fewer recent comparable sales ("comps"). Lenders often work with appraisers familiar with the area, who may need to look at properties in a wider geographic radius or adjust for land value differences, which can slightly extend the loan timeline.
What local factors in Lexington should I consider when choosing between a fixed-rate and adjustable-rate mortgage (ARM)?
Given Lexington's stable but slower-paced real estate market and generally lower home prices, a 30-year fixed-rate mortgage is often the most popular and prudent choice for long-term stability. An ARM might be considered by buyers who are certain they will sell or refinance within the initial fixed period, but the minimal interest rate savings often don't outweigh the risk for most local buyers.
Are there specific lenders in Lexington that have expertise with local property types, like older homes or land?
Yes, local community banks and credit unions in Lexington, such as First Bank or Leaders Credit Union, often have a strong advantage. They have deep knowledge of the area's property types, including older homes in the city limits and larger parcels of land in the county, which can streamline the underwriting process compared to larger national lenders.
Why Choose a Mortgage Lender in Lexington?
Local Market Knowledge
Lenders who understand Lexington'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 Lexington and get competitive rates on your home loan.