The Best Mortgage Lenders in Parrottsville, TN
Compare verified mortgage lenders serving Parrottsville, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Parrottsville
Featured Mortgage Lenders
SmartBank
SmartBank
SmartBank is a highly-rated regional bank serving Parrottsville and East Tennessee with a strong local presence. Founded in 2007, it has built a reputation for personalized mortgage services, competitive rates, and exceptional customer satisfaction. With 16 years of experience, SmartBank offers a wide range of loan options, including government-backed programs, and is known for its community-focused approach, making it a top choice for homebuyers in rural areas like Parrottsville. Their dedicated local team ensures smooth transactions and ongoing support.
Loan Types:
ORNL Federal Credit Union
ORNL Federal Credit Union
ORNL Federal Credit Union is a premier credit union with deep roots in East Tennessee, serving Parrottsville and surrounding communities since 1948. Despite being founded earlier than the typical range, it maintains exceptional ratings for its customer-centric mortgage services, including competitive rates and flexible loan options. With over 75 years of experience, ORNL FCU is praised for its reliability, member-focused approach, and strong community involvement, making it a trusted lender for home purchases and refinancing in the region.
Loan Types:
Caliber Home Loans
Caliber Home Loans
Caliber Home Loans is a reputable national mortgage lender with a strong local presence in East Tennessee, including service to Parrottsville. Founded in 2008, it combines 15 years of industry expertise with high customer satisfaction ratings, offering a comprehensive suite of loan products. Known for its efficient processing, competitive rates, and personalized service, Caliber has a dedicated Knoxville office that provides accessible support for homebuyers in rural areas, ensuring a seamless mortgage experience from application to closing.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Parrottsville, TN
What are the typical down payment requirements for homes in Parrottsville, TN, given its rural market?
In Parrottsville's more affordable rural market, many buyers successfully use low-down-payment options. FHA loans with 3.5% down are common, and USDA loans, which offer 0% down, are a popular choice as much of the area qualifies for this rural development program. Conventional loans with 3% down are also widely available for qualified buyers.
Are there any local or state-specific first-time homebuyer programs that can help with purchasing in Parrottsville?
Yes, the Tennessee Housing Development Agency (THDA) offers the Great Choice Home Loan program, which is widely used in Parrottsville. This program provides competitive 30-year fixed-rate mortgages with down payment assistance for eligible first-time and repeat buyers. It's particularly beneficial for moderate-income households in Cocke County.
How do property types common in Parrottsville, like land-with-home packages or older farmhouses, affect the mortgage process?
Purchasing a property with significant acreage or an older home may require specific loan considerations. Lenders may order specialized appraisals to assess the value of the land separately. For older homes, ensure they meet minimum property standards for your loan type, as FHA or USDA loans may require certain repairs to be completed before closing.
What should I know about property taxes and insurance when calculating my monthly mortgage payment in Parrottsville?
Cocke County property taxes are relatively low, which helps keep overall housing costs affordable. However, due to the rural setting and distance from fire hydrants/stations, your lender will require homeowners insurance, and premiums can be influenced by the home's proximity to fire services. It's wise to get insurance quotes early in the process for accurate payment estimates.
Are local community banks or credit unions in the Parrottsville area a good option for mortgages compared to national lenders?
Yes, local institutions like Citizens Bank of New Tazewell or other East Tennessee credit unions are excellent options. They often have deep knowledge of the local Parrottsville real estate market and may offer more personalized underwriting for unique rural properties. They can also be very competitive on rates and fees for well-qualified buyers.
Why Choose a Mortgage Lender in Parrottsville?
Local Market Knowledge
Lenders who understand Parrottsville'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 Parrottsville and get competitive rates on your home loan.