The Best Mortgage Lenders in Winfield, TN
Compare verified mortgage lenders serving Winfield, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Winfield
Featured Mortgage Lenders
Cumberland Mortgage Company
Cumberland Mortgage Company
Cumberland Mortgage Company is a highly-rated local mortgage lender serving the Cumberland Plateau region including Winfield. With over two decades of experience, they specialize in personalized service and competitive rates for rural and suburban properties. Their team has deep knowledge of local real estate markets and offers a wide range of loan programs including USDA loans perfect for the Winfield area. Customers consistently praise their responsive communication and smooth closing processes.
Loan Types:
Evolve Bank & Trust Mortgage
Evolve Bank & Trust
Evolve Bank & Trust has been serving Tennessee communities for nearly a century with a strong mortgage lending division that covers the entire state including Winfield. As an established FDIC-insured institution, they offer competitive rates and a comprehensive suite of mortgage products. Their experienced loan officers provide personalized service with particular expertise in rural property financing. The bank maintains high customer satisfaction ratings for their transparent processes and reliable service.
Loan Types:
First Horizon Bank Mortgage
First Horizon Bank
First Horizon Bank is one of Tennessee's largest and most established financial institutions with extensive mortgage lending services available throughout the state, including Winfield. With over 150 years of operation, they offer exceptional stability and a wide range of mortgage options. Their local loan officers understand the unique aspects of rural Tennessee properties and provide competitive rates with professional service. Customers appreciate their digital tools combined with personalized attention throughout the loan process.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Winfield, TN
Are there any special down payment assistance programs for first-time homebuyers in Winfield, TN?
Yes, the Tennessee Housing Development Agency (THDA) offers the Great Choice Home Loan program, which is widely used in Winfield. This program provides competitive interest rates and down payment assistance in the form of a second mortgage that can be forgiven over time. Many local lenders in Scott County are approved THDA lenders and can guide you through the eligibility requirements, which include income limits and a homebuyer education course.
How does the rural nature of Winfield and Scott County affect my mortgage options?
Winfield's location in a rural area makes many properties eligible for USDA Rural Development loans, which offer 100% financing with no down payment required. This is a significant advantage for qualifying buyers looking at homes in the Winfield area. It's important to work with a lender familiar with USDA maps to confirm the property's eligibility, as some pockets may not qualify.
What are typical closing costs for a mortgage in Winfield, TN?
Typical closing costs in Winfield generally range from 2% to 5% of the home's purchase price. These costs include title insurance, appraisal, recording fees, and lender origination charges. It's advisable to get a detailed Loan Estimate from a local lender, as Tennessee-specific taxes and Scott County recording fees will be itemized, giving you a clear picture of what to budget beyond your down payment.
Is it difficult to get a mortgage for a manufactured home in Winfield?
Financing for manufactured homes in Winfield is available but has specific requirements. The home must be permanently affixed to a foundation and classified as real property (not personal property). Lenders will typically require it to be a newer model and may have more stringent appraisal processes. Using a local lender or credit union familiar with the area's housing stock is crucial for navigating this type of loan.
How do property tax rates in Scott County impact my monthly mortgage payment?
Scott County has relatively low property tax rates compared to national averages, which is a benefit for your monthly mortgage payment when taxes are escrowed. The current rate is approximately $2.18 per $100 of assessed value. Your lender will calculate an estimated monthly escrow payment based on the assessed value of the home you're purchasing, which helps keep your overall housing payment affordable in the Winfield market.
Why Choose a Mortgage Lender in Winfield?
Local Market Knowledge
Lenders who understand Winfield'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 Winfield and get competitive rates on your home loan.