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Cleveland TN Mortgage Broker and Lending Company

Are you looking for a Cleveland TN Mortgage Broker? Are you considering to renew or refinancing your house? Our Lending Company in Cleveland TN can help you make the right decisions about your future.

We take pride in helping our clients find the best mortgages in Cleveland TN and make your dreams come true with a little cash in their hands.

Moving To Cleveland?

Are you considering moving to Cleveland? As of 2020, the city of Cleveland boasts a population of 45,504. Citizens of Cleveland TN enjoy an average income of $25,939 with an average home price of $171,500

Real Estate Companies In Cleveland TN

If you are considering moving to Cleveland, you may want to speak with one of the locally licensed and experienced real estate agencies in Cleveland. Some of the better known real estate agents in Cleveland are: 

  • Crye-Leike, Realtors
  • Bender Realty
  • Award Realty – Marcia Botts

Cleveland Bank VS The Wendy Thompson Team

Whether you are looking to refinance your home in Cleveland TN or buy a new one, getting the lowest interest mortgage possible should be your goal. 

Look, just like you, I like to use my local bank for checking, savings, a safety deposit box, CD’s and for doing my daily business needs. 

It is really easy for you to walk into your bank in Cleveland TN and ask them for a Cleveland mortgage. 

After all, they are Cleveland mortgage broker and lending company. 

BUT, according to the New York Times, getting a home mortgage from your local bank can cost you more money over the life of the loan because they cannot shop around for different rates.  

Considering this, the lending company in Cleveland TN knows that a large percentage of the US will simply ‘trust’ their local bank to give them the ‘best’ rates since they have been such a good customer. 

Unfortunately, your mortgage lender in Cleveland probably is unable to shop around and get you the best rates because they only have one option, themselves. 

The Wendy Thompson Team as a local mortgage broker in Cleveland TN, they are able to offer you mortgage options from several lenders and find you the best rates based on your situation. 

Your lending company in Cleveland TN won’t be able to do that, and in a lot of cases choosing your local bank could cost you quite a bit more. 

Another reason people choose to get a Cleveland home mortgage from your local bank is that they mistakenly believe they will be able to service the mortgage at the local bank. 

In most cases, if you receive a Fannie Mae or Freddie Mac backed mortgage, the lender will sell that mortgage to be serviced by someone else. 

This means that if you have a problem with your loan, you will not be able to go into your Cleveland bank and speak to someone about it. 

It is free to get a quote from The Wendy Thompson Team and compare them to any Cleveland mortgage. 

Best Mortgage In Cleveland TN

 

Best Mortgage Broker Cleveland TN

Our fully-focused team of mortgage professionals in Cleveland, TN is ready and waiting to assist you in securing a loan to buy the home of your dreams.

Refinancing

Getting a new loan to replace the existing mortgage is known as refinancing. Refinancing allows you to get a lower interest rate and better loan terms. The original mortgage is paid off, paving the way for a second one to be created, rather than simply creating a new loan and doing away with the first one.

Our brokerage firm is here and ready to provide you with helpful information about mortgages in Cleveland TN. Whether you’re considering purchasing a new home, refinancing your existing one, getting a FHA or VA loan or taking out a HELOC or home equity loan, we are ready and waiting to help you on your journey to home ownership and financial independence.

FHA Loans

Are you’re a first time homebuyer? FHA loans are an excellent option for first-time homebuyers and might be right for you. Your down payment will be considerably low and fees might be covered through seller agreements.

FHA Loans have less strict requirements when it comes to borrowers with credit history issues such as foreclosure, bankruptcy, etc. Due to these benefits, getting a FHA loan can be a great choice for first time home buyers. Contact a FHA mortgage consultant today to empower you and help you complete the entire loan application process.

Are you a Veteran or active duty military in the Cleveland, TN area? If so, a VA mortgage loan might be what you need.

Jumbo loans

A jumbo loan is a mortgage that exceeds Freddie Mae and Freddie Mac limits.  Instead of relying on limits set by GSEs (government sponsored entities), jumbo loans are offered by private lenders.  More importantly, jumbo loans allow potential homebuyers to purchase more expensive properties.  You might not worry much about the market rates, but if you’re purchasing an expensive house and you don’t have a lot of cash in your pockets, a jumbo loan might be right for you. The interest rate might even be better with a nonconforming loan.

Mortgage Lenders Cleveland

Home Equity Loans

Here, the equity or value of the home is used as collateral to secure the loan. Mortgage companies or lenders offer this kind of assistance to help borrowers with their major monetary expenses.

It is possible to qualify for a home equity loan even if a homeowner has a bad credit rating provided that some conditions are met. These loans are very important during times of crisis. As a homeowner, you are getting a helping hand and an opportunity to improve your financial situation.

Fixed Vs. Variable Mortgage: What is the Difference?

There are two major types of interest rates: fixed and variable. There are pros and cons associated with each, so your choice will determine the rate of interest you’re going to pay over the term of your mortgage.

With a fixed rate, the payments and interest rate do not change until renewal time, even if the market rates keep on fluctuating. This means fixed rate mortgages are stable, making them an excellent choice for those who want reliable monthly payments.

On the other hand, variable mortgage rates are subject to changes in market rates. This makes them highly risky, but they have also historically proven to be cheaper.

Open or Closed Mortgage?

Once you have chosen either a fixed mortgage or variable mortgage rate, the next step is to choose between an open mortgage and closed mortgage term.

Although they are less flexible, closed mortgage terms are extremely common. The borrower cannot repay their home loan before the end of the loan term without incurring a penalty. It is a less desirable solution for a homebuyer who knows they will have to move before the end of the loan term, or in the case of unforeseen circumstances in which the house must be sold. Nonetheless, closed terms have lower interest rates.

Open mortgage terms have greater flexibility. The borrower can repay their loans at any time without incurring a fee (the bank may charge other fees though). Open terms are a better option for a buyer who knows that they will have to move or probably even find other sources of funds to offset their loan.

How Often Do Rates Change?

It is recommended to refinance when interest rates are comparatively low. Mortgage rates can change each day, so monitor the latest Cleveland, TN refinance rates every day and work with your mortgage broker to find the best rate for you.

Cleveland Mortgage Rates

Why Compare Mortgage Rates?

If you are Cleveland homeowner looking to secure a mortgage loan, or to take out a HELOC or home equity loan, now is a good time to start comparing interest rates.

It’s no surprise more and more people are now using brokerage firms to get the best interest rates on their mortgage. Mortgage brokers work with multiple lenders, and have the resources and experience needed to help you find great offers. By comparing mortgage rates from different lenders, you could save thousands of dollars every year.


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We are #1 Rated mortgage lender in Cleveland

We are the highest rated because we give you:

  • The RATE you expect from a bank

  • TECHNOLOGY you want from an online lender

  • The SERVICE you can only get locally

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Cleveland Mortgage Lending

If you’re here, you’re in the market for a mortgage loan. Maybe you’re buying a home, maybe you’re refinancing. But the real qustion is… what’s your next step?

We’re here to help you figure that out. We want you to understand your options and pick the right loan, because what you qualify for and what you’re comfortable with are 2 different things! You can start the process online with our pre-qualification tool, or call us. A 15 minute phone call will answer a lot of your questions and set you on the right path.

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Buying a Home Has NEVER Been Easier!

Here’s our Simple, 3-Step Process for Getting a Mortgage

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About Wendy Thompson

Wendy has been in the mortgage business since 2001 and is nationally ranked as a top producer. Her professionalism and integrity are widely known through the many clients and realtors she has worked with over the years. She works diligently to get through the sometimes nerve racking process and is hands on every step of the way. Wendy’s expert understanding of the mortgage market combined with her “big picture view” of what each client’s needs and goals are, make her one of the most sought after in her field. She is known for taking the time to explain the mortgage process and go through various options that saves her clients time and money. She actively watches mortgage markets to assist her clients in knowing the best time to lock in an interest rate.

Wendy & her team are easily accessible and allow their clients to complete the process faster and with excellent communication at all stages.

Most people still prefer to do business with someone they can meet with face to face. While she may initially talk on the phone or email back and forth, she intends to follow these business traditions so that the customer feels comfortable and familiar with her during the loan process.

On a More Personal Note:

Wendy has been married to Beau for over 18 years and has a 15 year old son named Tate. They are the proud owners of Tucker, a Yellow Lab. She is somewhat of a Netflix addict and loves learning new things. She is a huge animal lover and never passes up an opportunity to help someone or something in need.

“Providing the Extraordinary Mortgage Experience”- The Wendy Thompson Lending Team

The Wendy Thompson Mortgage Brokers Cleveland TN

Cleveland TN

As your trusted mortgage brokers Cleveland TN, we will walk you through the entire home buying process. If you have credit history problems, or need assistance finding a real estate agent, or simply have some questions you would like to ask before you get started, we are ready to help.