The Best Mortgage Lenders in South Fulton, TN
Compare verified mortgage lenders serving South Fulton, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in South Fulton
Featured Mortgage Lenders
Mortgage Department
First South Credit Union
First South Credit Union stands as one of the highest-rated mortgage lenders serving the South Fulton area, with exceptional customer satisfaction ratings and deep roots in Northwest Tennessee. As a member-owned financial cooperative, they offer highly competitive rates and personalized service that larger institutions often can't match. Their mortgage team has extensive experience with rural housing loans, USDA programs, and first-time homebuyer assistance—particularly valuable for the South Fulton market. With multiple branches throughout the region and a reputation for local decision-making, they provide the combination of community knowledge and financial expertise that makes them a top choice for area homebuyers.
Loan Types:
Mortgage Lending Division
First Citizens National Bank
First Citizens National Bank has been serving Northwest Tennessee communities for over 130 years, making them one of the most established and trusted mortgage lenders in the region. Their experienced loan officers have deep knowledge of the local South Fulton real estate market and specialize in rural property financing. The bank consistently receives high marks for their responsive customer service, local underwriting, and competitive rate offerings. As a community bank with strong ties to the area, they understand the unique needs of South Fulton residents and offer flexible loan programs with personalized attention throughout the entire mortgage process.
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Mortgage Services
Churchill Mortgage
Churchill Mortgage maintains an exceptional reputation across Tennessee with nearly perfect customer satisfaction ratings and extensive experience serving both urban and rural communities. While headquartered in Middle Tennessee, they actively serve clients throughout the state, including South Fulton, with their renowned customer-focused approach. They specialize in educating homebuyers through the mortgage process and are particularly strong with VA loans and first-time homebuyer programs. Their commitment to ethical lending practices, transparent communication, and competitive pricing has earned them numerous industry awards and makes them a top-tier option for South Fulton residents seeking reliable mortgage services.
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Frequently Asked Questions
Common questions about mortgage lending in South Fulton, TN
What are the current mortgage rates like in South Fulton, TN, and how do they compare to state averages?
Mortgage rates in South Fulton are generally competitive with national and state averages, but local lenders may offer specific promotions. As a smaller market, it's especially beneficial to compare rates from regional banks and credit unions in Obion County, as they often have strong community lending programs. Rates can be influenced by the property's location relative to flood zones, which are a consideration in this area.
Are there any down payment assistance programs specifically for homebuyers in South Fulton?
Yes, the Tennessee Housing Development Agency (THDA) offers the Great Choice Home Loan program, which includes down payment assistance grants, and is available to eligible buyers in South Fulton. Additionally, the city may occasionally partner with local community development organizations to offer targeted assistance, so checking with the South Fulton City Hall or a local HUD-approved housing counselor is recommended for the most current local opportunities.
How does South Fulton's rural location impact the mortgage appraisal and approval process?
South Fulton's rural setting in Obion County means appraisals can be more challenging due to fewer comparable home sales ("comps"). Lenders may require appraisers with specific knowledge of the local market, which can sometimes lengthen the process. It's wise to work with a lender experienced in rural Tennessee properties to ensure they use appropriate appraisal methods and understand the value of land and agricultural features.
What should I know about property taxes and insurance when budgeting for a mortgage in South Fulton?
Property taxes in Obion County and South Fulton are relatively low compared to urban areas in Tennessee, which can be a benefit for monthly payments. However, homeowners insurance can be a significant factor; due to the region's exposure to severe weather and tornado risk, lenders will require adequate coverage. It's crucial to get insurance quotes early in the homebuying process to accurately calculate your total monthly mortgage payment.
Are USDA loans a common and good option for buying a home in South Fulton, TN?
Absolutely. Given South Fulton's designation as a rural area by the USDA, many homes qualify for USDA Section 502 Guaranteed Loans, which offer 100% financing with no down payment. This is one of the most popular and advantageous mortgage programs for eligible buyers in the area, as it helps overcome one of the biggest barriers to homeownership. Income limits apply, but they are generous for the local median income.
Nearby Cities
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Why Choose a Mortgage Lender in South Fulton?
Local Market Knowledge
Lenders who understand South Fulton'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 South Fulton and get competitive rates on your home loan.