9 Best Tennessee Mortgage Lenders of 2021

Why we like it

Pros

• Offers a wide variety of purchase and refinance mortgages with an emphasis on helping underserved communities.

• Its home equity line of credit can be used for an owner-occupied or second home.

• Offers a program to enable buyers to make cash offers.

Cons

• Mortgage origination fees tend to be on the high end, according to the latest federal data.

Why we like it

Pros

• Displays detailed sample rates for many of its loan products.

• Offers a wide variety of loans, including jumbo and interest-only products.

• Offers low rates compared with other lenders, according to the latest federal data.

Cons

• Doesn't offer home equity loans.

Why we like it

Pros

• Caters to self-service users who want to apply for a home loan online and talk to a human only as necessary.

• Estimates the loan amount you’ll qualify for within minutes.

• Streamlines the online process with document and asset retrieval capabilities, including the ability to edit your preapproval letter.

Cons

• Getting a customized interest rate requires a credit check, which can affect your credit score.

• Doesn't offer home equity loans or lines of credit.

• Lender fees are on the high side and the fees aren't offset by particularly low mortgage rates, according to the latest data.

Why we like it

Pros

• Offers 24/7 customer service over the phone.

• Offers a free credit counseling service.

• Mortgage rates are on the low side, according to the latest federal data.

Cons

• Doesn’t offer home equity loans or HELOCs.

• Veterans United doesn't have branch offices in every state.

Why we like it

Pros

• Borrowers with an existing loan or investment account from SoFi may qualify for a $500 discount on mortgage fees.

• Mortgage rates tend to be on the low side, according to the latest federal data.

• Offers jumbo loans with a minimum down payment of 10%.

Cons

• Does not offer government-backed loans, such as FHA or VA.

• Requires users to create an account to see customized mortgage rates.

• SoFi conforming mortgages are unavailable in Hawaii.

Why we like it

Pros

• Offers a wide range of affordable mortgage products, including 0% down payment loans, designed for military members.

• Offers HELOCs and home equity loans.

• Offers low rates compared with most lenders, according to the latest federal data.

Cons

• Website does not provide customized mortgage rates based on credit score or other factors before you apply.

• Credit union membership is limited to veterans and current military members, their families, and certain federal employees, retirees and contractors.

Why we like it

Pros

• Offers multiple low-down-payment loan programs.

• May consider alternative credit data, such as bank statements.

• You can view customized rates for purchasing a home and apply online.

Cons

• Doesn't offer home equity lines of credit.

• Lender fees are on the high side, according to the latest federal data.

Why we like it

Pros

• Offers a wide variety of loan options, including special programs for doctors.

• Offers a complete suite of online mortgage application tools and loan tracking.

• Sample rates and fees are easy to find on the website.

Cons

• Customized rates aren't available online without starting an application.

• Branches are limited mostly to the Southeast.

Why we like it

Pros

• Offers down payment and closing cost assistance programs.

• May give existing customers a discount on mortgage lender origination fees and HELOC interest rates.

• Receives high marks for customer satisfaction, according to J.D. Power and Zillow.

Cons

• Doesn't offer renovation loans that roll costs into a mortgage.