The Best Mortgage Lenders in Yuma, TN
Compare verified mortgage lenders serving Yuma, Tennessee. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Yuma
Featured Mortgage Lenders
First Horizon Bank Mortgage Division
First Horizon Bank
First Horizon Bank (formerly First Tennessee Bank) is one of the largest regional banks serving West Tennessee with extensive mortgage lending operations. They have a strong presence throughout the region and serve Yuma residents with competitive rates and personalized service. Their mortgage division offers a comprehensive range of loan products with local underwriting and decision-making, which is particularly valuable for rural properties. With over 150 years of banking experience, they provide exceptional stability and deep understanding of Tennessee's real estate market, including rural and agricultural properties common in the Yuma area.
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Evolve Bank & Trust Mortgage Services
Evolve Bank & Trust
Evolve Bank & Trust has been serving West Tennessee communities for nearly a century and maintains a strong mortgage lending division that serves the Yuma area. They specialize in rural and suburban property financing with particular expertise in USDA loans, which are highly relevant for Yuma's location. Their local loan officers understand the unique aspects of Carroll County real estate and provide personalized service with competitive rates. As a community-focused institution with deep regional roots, they offer the stability of an established bank with the personal attention of a local lender.
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Guild Mortgage Company - Memphis Branch
Guild Mortgage Company
Guild Mortgage is a nationally recognized mortgage lender with a strong Memphis branch that actively serves the West Tennessee region, including Yuma. They are particularly noted for their exceptional customer service and innovative loan programs tailored to rural communities. Guild specializes in government-backed loans including USDA rural development loans, making them an excellent choice for Yuma homebuyers. Their local loan officers have extensive experience with Carroll County properties and provide comprehensive guidance through the entire mortgage process, from application to closing.
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Frequently Asked Questions
Common questions about mortgage lending in Yuma, TN
What are typical mortgage rates for homebuyers in Yuma, TN, and how do they compare to state averages?
Mortgage rates in Yuma, TN, are generally aligned with national and Tennessee state averages, but can be slightly influenced by the rural nature of the local market. As of recent trends, rates for a 30-year fixed mortgage in the area often range within a quarter percentage point of the state average. Working with a local lender familiar with Gibson County can sometimes provide access to competitive, personalized rate quotes.
Are there any down payment assistance programs specifically for buyers in Yuma, TN?
Yes, homebuyers in Yuma can access the statewide Tennessee Housing Development Agency (THDA) Great Choice Home Loan program, which offers competitive interest rates and down payment assistance. For Gibson County, which includes Yuma, the Great Choice Plus program can provide a second mortgage for down payment and closing costs that is forgiven after a set period, making it an excellent resource for qualifying first-time and repeat buyers.
How does the appraisal process work for a home in a rural area like Yuma, and what challenges might I face?
Appraisals in Yuma can be more complex due to the rural setting and potentially fewer comparable home sales ("comps"). An appraiser may need to look at properties in a wider geographic area or from several months prior, which can sometimes affect the valuation. It's advisable to work with a lender experienced in rural mortgages who can guide you through this process and set realistic expectations.
What should I know about property taxes and insurance when calculating my monthly mortgage payment in Yuma?
Gibson County property taxes are relatively moderate, which can help keep your overall monthly payment affordable. However, due to Yuma's rural location and distance from full-time fire services, homeowners insurance premiums can be higher than in suburban areas. Your lender will help you estimate these costs for escrow, but getting an insurance quote early in the process is highly recommended.
Are USDA Rural Development loans a common and good option for buying a home in Yuma, TN?
Absolutely. Given Yuma's rural designation, many homes and buyers in the area qualify for USDA Section 502 Guaranteed Loans. This is a popular option as it requires no down payment and offers competitive interest rates. You should check the USDA eligibility map for the specific property address, but most of the Yuma area qualifies, making it a powerful tool for eligible buyers.
Why Choose a Mortgage Lender in Yuma?
Local Market Knowledge
Lenders who understand Yuma'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 Yuma and get competitive rates on your home loan.