NerdWallet offers financial tools and advice to help you understand your options and make the best possible decisions. The guidance we offer and information we provide are deeply researched, objective and independent. We spent over 400 hours reviewing the top mortgage lenders before selecting the best for our readers.
Whether you’re shopping for a chalet near Gatlinburg or a loft in Nashville with a view of the Cumberland River, it takes research to get the right mortgage. NerdWallet has done the legwork to help you find the best Tennessee mortgage lenders.
Some of these lenders stand out for overall expertise. Others excel in specific categories, such as VA loans, first-time home buyers, home equity loans or low down payment mortgages.
Best Tennessee mortgage lenders of 2018
NerdWallet finds these lenders to be among the best overall.
- Manual underwriting allows personal evaluation of a borrower
- Bilingual loan officers can assist in Spanish and English
- Minimum credit score is typically 580 for FHA loans, 620 for conventional mortgages
- New American Funding review
- Offers conventional, FHA, VA, USDA and jumbo mortgages for both purchases and refinances
- All borrowing scenarios covered by a user-friendly digital platform
- User satisfaction is 95%, according to company data
- Guaranteed Rate review
Best Tennessee mortgage lenders for VA loans
These lenders specialize in serving VA borrowers and understanding their needs.
- The largest VA home purchase lender in the U.S.
- Help with a VA loan application is available 24/7 by phone or online
- Client advocate team includes former senior enlisted leaders from each service branch
- Veterans United Home Loans review
- Promises to match a better mortgage rate offer or will pay you $1,000
- Low minimum loan amounts: $10,000 for a home purchase and $19,000 for a refinance
- Uses data from utility bills, rent and mobile phone payments when approving a loan application
- Navy Federal mortgage review
Best Tennessee mortgage lenders for first-time home buyers
First-time buyers often need experienced guidance and low-fee loan programs that flex with the borrower.
- PMI isn’t required, even with less than 20% down
- No mortgage origination or application fee
- Considers disposable income and non-traditional credit history
- SoFi Mortgage review
Best Tennessee lenders for home equity borrowing
Home-equity borrowing is expected to become more popular as interest rates rise. These lenders have home-equity products and expertise.
- Fixed-rate home equity loans of $25,000 to $250,000 available (HELOCs not offered)
- Up to 90% loan-to-value
- Closes home equity loans “in just days, not weeks”
- LoanDepot mortgage review
Best Tennessee lenders for low down payments
When a low down payment matters, these lenders have loans that may work for you.
- Affordable Loan Solution mortgage features 3% down and no mortgage insurance
- Features many Tennessee branches for borrowers who prefer face-to-face interaction
- Offers borrowers a full suite of online and mobile tools
- Bank of America mortgage review
- Down payments as low as 3% on FHA, USDA, Freddie Mac and Fannie Mae mortgages
- A single loan officer is assigned to each application
- Offers low private mortgage insurance rates on conventional mortgages
- Quicken Loans review
Best Tennessee mortgage lenders of 2018: summary
- New American Funding: Best overall
- Guaranteed Rate: Best overall
- Veterans United: Best for VA loans
- Navy Federal Credit Union: Best for VA loans
- SoFi: Best for first-time home buyers
- Vylla: Best for first-time home buyers
- CitiMortgage: Best for home equity borrowing
- LoanDepot: Best for home equity borrowing
- Bank of America: Best for low down payments
- Quicken Loans: Best for low down payments
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NerdWallet’s selection of mortgage lenders for inclusion here was made based on our evaluation of the products and services that lenders offer to consumers who are actively shopping for the best mortgage. The six key areas we evaluated include the loan types and loan products offered, online capabilities, online mortgage rate information, customer service and the number of complaints filed with the Consumer Financial Protection Bureau as a percentage of loans issued. We also awarded lenders up to one bonus star for a unique program or borrower focus that set them apart from other lenders. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.
