NMHL Mortgage Lending
Mortgage Lender in Memphis, TN
Local expertise and competitive rates for Memphis homebuyers.
Memphis, Tennessee, is a vibrant city with a rich musical heritage and a diverse housing market. As of 2023, the median home price in Memphis is approximately $143,000, making it an attractive option for first-time homebuyers and experienced homeowners alike. At National Mortgage Home Loans (NMHL), we understand the unique challenges and opportunities that Memphis borrowers face. Our local expertise and range of mortgage programs, including FHA, VA, and USDA loans, position us to help you achieve your homeownership goals.
The Memphis housing market is characterized by a mix of historic neighborhoods and new developments, with areas like Cooper-Young, Overton Square, and Downtown Memphis experiencing significant growth. NMHL is committed to serving the diverse needs of Memphis borrowers, including those with bad credit, self-employed individuals, and veterans. Our pre-approval process is designed to be straightforward and efficient, getting you ready to make an offer on your dream home quickly.
Whether you're a first-time buyer or an experienced homeowner, NMHL is here to guide you through the mortgage process. Our knowledgeable loan officers are familiar with the local market and can help you navigate the complexities of Memphis property taxes, school districts, and down payment assistance programs. With NMHL, you can trust that you're working with a lender who understands the Memphis community and is dedicated to helping you achieve your homeownership goals.
Memphis Housing Market Overview
Explore mortgage options in Memphis, TN with NMHL. Our local expertise helps you navigate the Memphis real estate market with competitive rates and personalized service.
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Your Local Mortgage Partner
We understand the local market dynamics that affect your home purchase. Our team provides personalized loan options based on local property values and regulations.
Available Loan Programs in Memphis
Explore mortgage options tailored to Memphis homebuyers
First Time Home Buyer Mortgages
Special loan programs helping newcomers purchase their first home with favorable terms and support.
Learn MoreRefi-Shield
Learn MoreAdjustable-Rate Mortgage (ARM)
Financial flexibility and optimal rates with an Adjustable-Rate Mortgage – Your key to a dynamic homeownership journey
Learn MoreHigh-Value Appraisal Program
Learn MoreInterest Only Mortgages
Interest-only mortgages allow borrowers to pay only the interest for a set period, reducing initial monthly payments.
Learn MoreHome Equity Loans
Access the equity in your home with a fixed-rate home equity loan. Get a lump sum with predictable monthly payments for ...
Learn MoreFHA Loans
Federal Housing Administration (FHA) loans are government-backed mortgages designed to help first-time homebuyers and th...
Learn MoreFixed-Rate Mortgage
Lock in your interest rate for the life of the loan with a fixed-rate mortgage. Predictable monthly payments make budget...
Learn MoreBridge Loans
Bridge the gap between buying your new home and selling your current one. Short-term financing that gives you the flexib...
Learn MoreVA Loans
VA loans are a benefit earned by veterans, active-duty service members, and eligible surviving spouses. Backed by the De...
Learn MoreConventional Loans
Conventional loans are not backed by government agencies and typically offer the most flexibility for qualified borrower...
Learn MoreITIN Loans
Purchase a home using your Individual Taxpayer Identification Number (ITIN) without a Social Security Number. NMHL is co...
Learn MoreJumbo Loans
Jumbo loans exceed conforming loan limits and are designed for luxury properties and homes in high-cost areas. With comp...
Learn MoreDSCR Investment Loans
Debt Service Coverage Ratio (DSCR) loans qualify based on rental income rather than personal income. Perfect for real es...
Learn MoreBank Statement Loans
Bank statement loans are designed for self-employed borrowers and business owners who have difficulty documenting income...
Learn MoreReverse Mortgages
For homeowners 62 and older, reverse mortgages allow you to access your home equity without monthly payments. Stay in yo...
Learn MoreUSDA Mortgages
USDA Rural Development loans help moderate-income buyers purchase homes in eligible rural and suburban areas. With no do...
Learn MoreHeloc
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Exploring Memphis Neighborhoods
Memphis is a city with a rich history and diverse neighborhoods, each with its own unique character. From the vibrant arts scene in Cooper-Young to the family-friendly atmosphere of Germantown, there's a neighborhood to suit every lifestyle. Some of the most popular areas for homebuyers include:
- Cooper-Young: Known for its eclectic mix of shops, restaurants, and entertainment venues.
- Overton Square: A hub for Memphis' arts and culture scene, with a variety of restaurants and bars.
- Germantown: A family-friendly neighborhood with a small-town feel and easy access to amenities.
NMHL's knowledgeable loan officers are familiar with these neighborhoods and can provide insights into the local market. We can help you navigate the mortgage process and find the right loan program for your needs.
Contact NMHL to discuss your mortgage options and get pre-approved today!
Down Payment Assistance Programs in Memphis
NMHL offers several down payment assistance programs to help Memphis borrowers achieve their homeownership goals. These programs include:
- Tennessee Housing Development Agency (THDA) down payment assistance: Provides up to 5% of the loan amount for down payment and closing costs.
- FHA down payment assistance: Allows for down payments as low as 3.5%.
- VA loans: Offers zero-down financing for eligible veterans and service members.
Our loan officers can help you explore these options and determine the best fit for your situation. With NMHL, you can trust that you're working with a lender who understands the Memphis community and is dedicated to helping you achieve your homeownership goals.
Get started with NMHL today and explore your down payment assistance options!
Understanding Property Taxes in Memphis
Property taxes are an essential consideration for homeowners in Memphis. The Shelby County Assessor's Office assesses property values, and the Shelby County Trustee collects property taxes. The average effective property tax rate in Memphis is 0.94%. Property taxes can vary depending on the location and value of the property.
NMHL can help you understand how property taxes will impact your mortgage payments and overall cost of homeownership. Our loan officers are knowledgeable about the local tax landscape and can provide guidance on how to factor property taxes into your budget.
Contact NMHL to discuss your mortgage options and get a better understanding of property taxes in Memphis.
NMHL Mortgage Programs for Memphis Borrowers
At NMHL, we offer a range of mortgage programs designed to meet the unique needs of Memphis borrowers. These programs include:
- FHA loans: Ideal for first-time homebuyers or those with less-than-perfect credit.
- VA loans: Offers zero-down financing for eligible veterans and service members.
- USDA loans: Provides financing for borrowers purchasing homes in rural areas.
- Conventional loans: Offers competitive rates and terms for borrowers with good credit.
Our loan officers can help you explore these options and determine the best fit for your situation. With NMHL, you can trust that you're working with a lender who understands the Memphis community and is dedicated to helping you achieve your homeownership goals.
Get pre-approved with NMHL today and take the first step towards homeownership in Memphis!
Frequently Asked Questions
Mortgage rates in Memphis vary depending on the loan program, credit score, and other factors. At NMHL, we offer competitive rates starting from 6.5% APR for a 30-year fixed loan. Contact us for a personalized rate quote and to discuss your mortgage options.
NMHL offers several mortgage options for first-time homebuyers in Memphis, including FHA loans with down payments as low as 3.5%. We also participate in the Tennessee Housing Development Agency (THDA) programs, which provide down payment assistance and competitive interest rates. Our loan officers can help you explore these options and determine the best fit for your situation.
Property taxes in Memphis are assessed by the Shelby County Assessor's Office and collected by the Shelby County Trustee. The average effective property tax rate in Memphis is 0.94%. Property taxes can vary depending on the location and value of the property. NMHL can help you understand how property taxes will impact your mortgage payments and overall cost of homeownership.
Yes, NMHL offers mortgage options for borrowers with less-than-perfect credit. We consider alternative credit scoring models and have programs available for borrowers with credit scores as low as 580. Our loan officers will work with you to identify the most suitable options and guide you through the application process.
Some of the most popular neighborhoods in Memphis for homebuyers include Cooper-Young, Overton Square, and Germantown. These areas offer a mix of historic homes, new developments, and amenities like parks, restaurants, and entertainment venues. NMHL's knowledgeable loan officers are familiar with these neighborhoods and can provide insights into the local market.
School districts play a significant role in determining home values in Memphis. The city is served by the Memphis-Shelby County Schools district, which includes several highly-rated schools. Homes located in areas with top-rated schools tend to command higher prices. NMHL can help you understand how school districts may impact your mortgage and homeownership costs.
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Let NMHL help you navigate the Memphis housing market with expert guidance and competitive rates.