Conventional Loans
Whether you are purchasing a new home or refinancing the house you live in now, a Bank of Tennessee conventional mortgage is your funding solution.
Get the mortgage that fits your unique situation, with fixed or adjustable rate options. Use a Bank of Tennessee conventional mortgage to refinance your current loan, purchase your primary or second home, or even purchase rental property. A variety of choices means you select the payment amount and terms you want. Choose from features including loan amortization up to 40 years, up to 97% financing, no-PMI programs up to 97%.
Construction Loans
When you build a new home, let Bank of Tennessee Mortgage Division take care of the loan. You can invest time in getting every detail right in your new home, because we offer 12-month-term construction loans. With up to 85% total loan-to-value (LTV) and up to 30 years’ amortization, you can afford to build your home your way.
Copies of plans and specifications, and a licensed Contractor to complete the project are required for a Bank of Tennessee construction loan.
Lot or Land Loans
When you find that perfect piece of land, but aren’t ready to build a house just yet, Bank of Tennessee Mortgage Division can finance the purchase. Take your time selecting the perfect plan and your builder. With amortization up to 10 years, and 65% LTV for undeveloped land or 85% LTV for a developed lot, you have plenty of time to pay off your land.
In order for property to be considered as a developed lot it must be improved with water and utilities.
First-time Home Buyers
Bank of Tennessee Mortgage Division offers a special program to answer questions and orient new homebuyers with the process. We take the uncertainty out of what can be a scary endeavor. Whether you complete our homebuyer education course or not, you can take advantage of the First-Time Home Buyer mortgage, with special features to get you in the house you love. Ask us about up to 97% financing of purchase price, loan amounts up to $417,000, no PMI and no maximum income restrictions, with up to 30-year terms.
Loans subject to credit approval. Bank of Tennessee is an Equal Housing Lender