The Best Mortgage Lenders in Milton, TN
Compare verified mortgage lenders serving Milton, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Milton
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender known for its exceptional customer service, competitive rates, and extensive loan options. With a strong local presence in Middle Tennessee, including Rutherford County where Milton is located, they excel in personalized mortgage solutions and have consistently high customer satisfaction ratings. Their team of experienced professionals ensures a smooth lending process, making them a trusted choice for homebuyers in the area.
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Pinnacle Financial Partners
Pinnacle Financial Partners
Pinnacle Financial Partners is a highly regarded regional bank based in Nashville, serving Milton and surrounding areas with a focus on local decision-making and community engagement. They offer a wide range of mortgage products with competitive rates and are praised for their reliability, customer-centric approach, and deep understanding of the Tennessee housing market. Their long-standing reputation and strong financial stability make them a preferred lender for many residents.
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Movement Mortgage
Movement Mortgage
Movement Mortgage is a nationally recognized lender with a strong presence in Tennessee, known for its efficient processing, competitive rates, and high customer satisfaction. They specialize in various loan types and have local loan officers serving the Milton area, ensuring personalized service and quick turnaround times. Their commitment to community involvement and ethical lending practices has earned them numerous positive reviews and a loyal client base.
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Frequently Asked Questions
Common questions about mortgage lending in Milton, TN
Are there any special loan programs for first-time homebuyers in Milton, TN?
Yes, the Tennessee Housing Development Agency (THDA) offers the Great Choice Home Loan program, which is popular in Milton. This program provides competitive interest rates, down payment assistance, and flexible credit guidelines, making it an excellent option for first-time buyers in Rutherford County. Many local lenders are approved THDA partners and can guide you through the application process.
How do property taxes in Milton, TN, affect my monthly mortgage payment?
Rutherford County, which includes Milton, has a relatively moderate property tax rate compared to national averages, which helps keep escrow payments manageable. For 2023, the county rate is approximately $2.54 per $100 of assessed value. Your lender will calculate this into your monthly payment, and it's wise to budget for potential small annual increases as property values in the area continue to rise steadily.
What is the typical down payment needed for a home in Milton's market?
While 20% down is ideal to avoid private mortgage insurance (PMI), many buyers in Milton successfully purchase with 3%-5% down using conventional loans or 3.5% with an FHA loan. Given Milton's attractive, semi-rural setting and its proximity to Murfreesboro, properties are in demand, so a strong pre-approval and competitive down payment can help your offer stand out.
Are USDA rural housing loans available in Milton, TN?
Yes, Milton's location qualifies for USDA Rural Development loans, which offer 100% financing (no down payment) for eligible borrowers and properties. This is a significant advantage for buyers looking at Milton's more rural parcels. You must meet income eligibility limits and purchase a home in the designated rural area, which covers most of Milton outside the Murfreesboro urban core.
How does Milton's growth and proximity to Murfreesboro influence mortgage lending and appraisals?
Milton is part of the fast-growing Rutherford County, and appraisers often use comparable sales ("comps") from nearby Murfreesboro and the broader county. This generally supports strong property values. Lenders are familiar with the market trends, but it's important to work with a local agent and lender who understand the specific value drivers for Milton's mix of rural land and newer subdivisions.
Why Choose a Mortgage Lender in Milton?
Local Market Knowledge
Lenders who understand Milton'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 Milton and get competitive rates on your home loan.