The Best Mortgage Lenders in Waynesboro, TN
Compare verified mortgage lenders serving Waynesboro, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Waynesboro
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a top-rated lender with a strong presence in Tennessee, serving Waynesboro and surrounding areas. Known for exceptional customer service and competitive rates, they offer a wide range of loan products and have a reputation for smooth, efficient closings. Their high ratings reflect consistent customer satisfaction and personalized support throughout the mortgage process.
Loan Types:
New American Funding
New American Funding
New American Funding is a highly regarded mortgage lender with operations across Tennessee, including service to Waynesboro. They are praised for their diverse loan options, including programs for first-time homebuyers, and their commitment to competitive pricing and transparency. With strong customer reviews highlighting responsive service and expert guidance, they are a reliable choice for home financing.
Loan Types:
loanDepot
loanDepot
loanDepot is a national lender with a significant footprint in Tennessee, offering comprehensive mortgage services to Waynesboro residents. They are recognized for their technology-driven approach, which streamlines the application process, and their competitive rates. Customers appreciate their flexibility, wide product range, and dedicated support, making them a popular option for both purchase and refinance loans.
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Frequently Asked Questions
Common questions about mortgage lending in Waynesboro, TN
Are there any down payment assistance programs specifically for homebuyers in Waynesboro, TN?
Yes, the Tennessee Housing Development Agency (THDA) offers the Great Choice Home Loan program, which is widely used in Waynesboro. This program provides competitive interest rates and down payment assistance in the form of a second mortgage, which can be a grant or a forgivable loan. Local lenders are familiar with this program and can help you determine your eligibility based on income and the home's purchase price.
How do property taxes in Waynesboro and Wayne County affect my monthly mortgage payment?
Wayne County has relatively low property tax rates compared to many urban areas in Tennessee, which is a benefit for your monthly payment. For 2023, the combined county and city rate is approximately $2.96 per $100 of assessed value. Your lender will calculate an escrow payment based on the specific property's assessed value, and this will be included in your total monthly mortgage payment (PITI).
What types of properties in Waynesboro might require special mortgage considerations?
Given the rural nature of Wayne County, you may find properties on larger lots or with acreage, or even manufactured homes on permanent foundations. Financing for these can differ; for instance, a conventional loan may have restrictions if the land value is disproportionately high. For true rural properties, a USDA Rural Development loan (which is available throughout Wayne County) can be an excellent zero-down-payment option.
As a first-time homebuyer in Waynesboro, what local resources should I connect with?
It's highly recommended to connect with a HUD-approved housing counseling agency, such as the Tennessee Housing Counseling Program, which offers free or low-cost pre-purchase education. Additionally, build a relationship with a local bank or credit union in Waynesboro, as they often have deep community ties and may offer portfolio loan products tailored to local borrowers that larger banks do not.
How does the appraisal process work for a home in Waynesboro's smaller market?
In a smaller, non-metro market like Waynesboro, finding comparable sales ("comps") can sometimes be a challenge for appraisers, especially for unique properties. This process may take slightly longer than in a dense city. Using a local lender who works with appraisers familiar with Wayne County is crucial, as they will better understand how to value properties based on local land values and market trends.
Why Choose a Mortgage Lender in Waynesboro?
Local Market Knowledge
Lenders who understand Waynesboro'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 Waynesboro and get competitive rates on your home loan.