The Best Mortgage Lenders in Reagan, TN
Compare verified mortgage lenders serving Reagan, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Reagan
Featured Mortgage Lenders
Mortgage Department
First South Credit Union
First South Credit Union stands out as one of West Tennessee's most trusted mortgage lenders with over 60 years of community banking experience. Serving the Reagan area through their Jackson location, they offer personalized service with competitive rates and a full range of loan products. Their mortgage team has extensive experience with rural property financing, which is particularly valuable for Reagan homebuyers. Members consistently praise their responsive communication, local underwriting decisions, and commitment to finding the right mortgage solution for each borrower's unique situation.
Loan Types:
Mortgage Division
First Horizon Bank
As one of Tennessee's oldest and most established financial institutions, First Horizon Bank has deep roots in West Tennessee and serves the Reagan community through their Jackson branches. Their mortgage team brings decades of collective experience with rural and suburban property financing. They excel at navigating complex loan scenarios and offer competitive rates with local decision-making. Customers frequently highlight their professional yet personal approach, thorough guidance through the mortgage process, and expertise with agricultural and rural property lending unique to areas like Reagan.
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Mortgage Services
Churchill Mortgage
Churchill Mortgage has built an outstanding reputation across Tennessee for their ethical lending practices and exceptional customer service. While based in Middle Tennessee, they actively serve clients throughout the state including Reagan and surrounding rural communities. Their experienced loan officers specialize in helping buyers navigate the unique aspects of rural property purchases, including USDA loans that are particularly relevant for Reagan area homes. Clients consistently praise their educational approach, transparent communication, and commitment to finding the right loan product rather than pushing the most profitable option.
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Frequently Asked Questions
Common questions about mortgage lending in Reagan, TN
What are the typical down payment requirements for homes in Reagan, TN, given the rural market?
In Reagan's rural market, many lenders can offer USDA loans, which require **0% down payment** for eligible borrowers and properties. For conventional loans, a 3-5% down payment is common, but local lenders often work with programs to assist buyers in this area. It's important to confirm property eligibility for USDA loans, as they are a major advantage here.
Are there any special mortgage programs for first-time homebuyers in Reagan?
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 Reagan. This program is particularly valuable here, as it can be combined with USDA or FHA loans to make homeownership more accessible in a lower-cost rural county.
How does the appraisal process work for a manufactured or modular home in Reagan?
Appraising manufactured homes in Reagan requires a specialist familiar with rural Tennessee properties. Lenders will require the home to be permanently affixed to a foundation and the land must be owned by the borrower. Using a local lender with experience in this specific market is crucial, as they understand the unique valuation factors for these property types common in the area.
What local factors in Reagan could delay or complicate mortgage closing?
The primary factors are **title issues** on older family-owned land parcels and ensuring properties have access to **approved water and septic systems**, as many are not on municipal utilities. A thorough title search and well inspection are essential. Working with a title company and lender experienced in Hickman County real estate can help anticipate and resolve these issues efficiently.
Are mortgage rates in Reagan, TN, different from those in nearby cities like Nashville?
Mortgage rates are generally set nationally, so the rates themselves are not geographically different. However, your final rate and fees can be influenced by the **lender's operating costs and local competition**. Using a local community bank or credit union in Reagan may offer more personalized service and potentially competitive terms compared to large national banks unfamiliar with the rural market.
Why Choose a Mortgage Lender in Reagan?
Local Market Knowledge
Lenders who understand Reagan'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 Reagan and get competitive rates on your home loan.