The Best Mortgage Lenders in Shelbyville, TN
Compare verified mortgage lenders serving Shelbyville, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Shelbyville
Featured Mortgage Lenders
Churchill Mortgage
Churchill Mortgage
Churchill Mortgage is one of Tennessee's most respected mortgage lenders with a strong presence throughout Middle Tennessee. Founded by industry veteran Mike Hardwick, the company has built an exceptional reputation for personalized service and competitive rates. They specialize in various loan programs including government-backed loans and have extensive experience serving the Shelbyville area. Their commitment to educating borrowers and transparent lending practices has earned them numerous industry awards and thousands of positive customer reviews.
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Ascend Federal Credit Union
Ascend Federal Credit Union
As a community-focused credit union with a physical branch in Shelbyville, Ascend offers exceptional mortgage services with competitive rates for members. They have deep roots in Middle Tennessee and understand the local real estate market. Their mortgage team provides personalized guidance through the entire home buying process, and as a credit union, they often offer lower fees and more flexible terms than traditional banks. Their long-standing presence in Shelbyville makes them a trusted local choice for mortgage lending.
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Supreme Lending
Supreme Lending
Supreme Lending has established itself as a top mortgage provider throughout Middle Tennessee with excellent service to the Shelbyville area. They offer a comprehensive range of loan products and are known for their efficient processing and competitive rates. The company has received numerous industry awards for customer satisfaction and has built a strong reputation for making the mortgage process smooth and understandable. Their local loan officers have extensive knowledge of the Shelbyville market and provide personalized service tailored to each borrower's needs.
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Frequently Asked Questions
Common questions about mortgage lending in Shelbyville, TN
Are there any first-time homebuyer assistance programs specific to Shelbyville, TN?
Yes, the Tennessee Housing Development Agency (THDA) offers the Great Choice Home Loan program, which is widely used in Shelbyville. This program provides competitive interest rates, down payment assistance, and flexible credit guidelines. Additionally, local lenders often have knowledge of any city-specific grants or programs that may occasionally be available through community development initiatives.
How do property taxes in Bedford County affect my mortgage payments in Shelbyville?
Bedford County has a relatively moderate property tax rate compared to larger metro areas in Tennessee. Your lender will calculate an escrow payment as part of your monthly mortgage to cover these annual taxes. It's important to note that property taxes are reassessed upon sale, so your escrow amount will be based on the purchase price, not the previous owner's tax bill.
What is the typical down payment needed for a home in Shelbyville's market?
While 20% down is ideal to avoid private mortgage insurance (PMI), many buyers in Shelbyville utilize conventional loans with 3-5% down or FHA loans with 3.5% down. Given the area's affordable home prices compared to national averages, saving for a down payment is often more achievable here, and local lenders can guide you on the best option for your budget.
Does Shelbyville's growth and proximity to major employers impact mortgage qualification?
Shelbyville's stable economy, driven by manufacturing (like the Tyson Foods plant), the equine industry, and its commute-friendly location to Murfreesboro and Nashville, is viewed favorably by lenders. This economic stability can support steady employment history—a key factor in mortgage approval. Lenders may also consider the strong demand for housing in the area as a positive for property values.
Are USDA rural housing loans a viable option for homes in or near Shelbyville, TN?
Absolutely. Much of Bedford County, including areas on the outskirts of Shelbyville, is eligible for USDA Section 502 Guaranteed Loans, which offer 100% financing (no down payment). This can be an excellent option for eligible buyers purchasing a primary residence in qualifying areas, making homeownership more accessible given the rural character of the region.
Nearby Cities
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Why Choose a Mortgage Lender in Shelbyville?
Local Market Knowledge
Lenders who understand Shelbyville'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 Shelbyville and get competitive rates on your home loan.