The Best Mortgage Lenders in Midway, TN
Compare verified mortgage lenders serving Midway, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Midway
Featured Mortgage Lenders
Guild Mortgage Company
Guild Mortgage Company - Chattanooga
Guild Mortgage's Chattanooga branch serves the Midway area with exceptional customer satisfaction ratings. As a top-rated national lender with strong local presence, they specialize in first-time homebuyer programs, government loans, and competitive conventional financing. Their team has extensive experience with Tennessee's rural and suburban markets, offering personalized service and local market expertise that makes them a preferred choice for Hamilton County and surrounding areas.
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Academy Mortgage Corp
Academy Mortgage Corp - Knoxville
Academy Mortgage's Knoxville office consistently ranks among the top mortgage lenders serving Eastern Tennessee, including the Midway area. With outstanding customer service ratings and competitive rates, they excel in USDA loans which are particularly relevant for Midway's rural character. Their local loan officers understand the unique aspects of Tennessee's real estate market and provide comprehensive guidance through the entire mortgage process.
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Tennessee Valley Federal Credit Union
Tennessee Valley Federal Credit Union
As one of the largest credit unions in the region, TVFCU has been serving the Midway community and surrounding areas for decades. They offer highly competitive mortgage rates for members and exceptional customer service with local decision-making. Their deep community roots and not-for-profit structure allow them to provide some of the most favorable loan terms in the region, particularly for conventional and government-backed mortgages.
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Frequently Asked Questions
Common questions about mortgage lending in Midway, TN
Are there any special mortgage programs for first-time homebuyers in Midway, TN?
Yes, Tennessee Housing Development Agency (THDA) programs like the Great Choice Home Loan are widely available in Midway. These offer competitive interest rates, down payment assistance, and flexible credit requirements, which are particularly helpful given the area's median income levels. Many local lenders in Greene County are approved THDA partners and can guide you through the application process.
How does the rural setting of Midway, TN, affect my mortgage options?
Midway's location often qualifies many properties for USDA Rural Development loans, which require no down payment. This is a significant advantage for eligible buyers looking at homes in the unincorporated areas of Greene County. It's important to have a lender verify the specific property's eligibility, as boundaries can be precise.
What are typical closing costs for a mortgage in Midway, TN?
Closing costs in Midway typically range from 2% to 5% of the home's purchase price. Tennessee has relatively average transfer taxes, but you should budget for title insurance, appraisal fees specific to the rural/suburban market, and lender origination charges. Working with a local title company familiar with Greene County can help identify and potentially reduce some local fees.
How do property taxes in Greene County impact my monthly mortgage payment?
Greene County has a moderate property tax rate, which is factored into your monthly escrow payment. For a $250,000 home in the Midway area, annual property taxes might average around $1,200-$1,500. Your lender will calculate this into your Debt-to-Income ratio, and the stable tax environment is generally favorable for long-term affordability.
Is it difficult to get a mortgage for a manufactured home on land in the Midway area?
Financing for manufactured homes can be more complex but is available. You'll need a lender experienced with this property type, and the home must be permanently affixed to a foundation and titled as real estate. Loans through the FHA, VA, or USDA programs are common solutions here, often offering better terms than chattel loans for homes not on owned land.
Why Choose a Mortgage Lender in Midway?
Local Market Knowledge
Lenders who understand Midway'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 Midway and get competitive rates on your home loan.