Conventional Loans in Chattanooga, TN

Conforming conventional loans

These loans fall within the loan limits set each year by Fannie Mae and Freddie Mac. Because they meet standard guidelines, they typically come with the most competitive interest rates and the widest range of term options — from 10 to 30 years, fixed or adjustable.

Qualified buyers can put down as little as 3%. And unlike FHA loans, private mortgage insurance is not permanent — once you reach 20% equity in your home, PMI can be removed, which lowers your monthly payment for the rest of the loan.

Non-conforming conventional loans

When the amount you need exceeds the conforming loan limit for your county, you move into jumbo territory. These loans make higher-priced homes possible, but the qualifying standards are tighter.

Expect a larger down payment, a stronger credit profile, and more cash reserves at closing. Rates are still competitive, and for buyers purchasing in higher-cost markets this is often the only conventional route available.

Conventional loans are not insured or guaranteed by the government, so approval is based on your credit, income, assets, and debt-to-income ratio.
Down payments start as low as 3% for eligible buyers, and 20% down removes private mortgage insurance entirely.
Choose a fixed rate for a payment that never changes, or an adjustable rate if you plan to move or refinance within a few years.
There is no upfront funding fee or mortgage insurance premium like FHA, VA, or USDA loans carry.
Your actual rate and payment will vary based on your situation and current market rates when you apply.
Pay your mortgage off at any time without pre-payment penalties.

REVIEWS

Customer Feedback

Brothers Financial would like to thank you for choosing us to take care of your mortgage needs. We understand the mortgage process can be very challenging, but our goal is to make it as easy as possible for you.

    
 
 
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   Rachel Eagleton 
 
 
 
 Trustindex verifies that the original source of the review is Google. Brian helped me get funding when I had been turned down by multiple other lenders due to being self-employed. The entire process was seamless and I am so grateful for his help. Thanks to him I get to make necessary repairs to my home and stay in it for years to come.
  
 
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   Aidan Tree 
 
 
 
 Trustindex verifies that the original source of the review is Google. Brody and Brian helped us so much in our home purchase every step of the way and made the process seamless and quick, and a at great rate!
  
 
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   Daphne Herrera 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great experience! We’ve worked with Brian for about 7 years now. We live in Colorado and when Brian advised he was moving to TN, we were bummed. Thankfully, that doesn’t prevent us from doing business! This process was fairly streamline and fairly painless. Brian made sure to update us along the way and advise if there were additional documents needed. I definitely recommend using Brother’s Financial!!
  
 
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   Mary-Grace Griffin 
 
 
 
 Trustindex verifies that the original source of the review is Google. I highly recommend Brian Reid. He helped so much with the home buying experience. He was always willing to to answer questions and guide us through the process.
  
 
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   Ann Kömel 
 
 
 
 Trustindex verifies that the original source of the review is Google. Working with Brian made our home buying process much less stressful! His knowledge and expertise got us more favorable loan terms and interest rate. He was great to communicate with and very responsive as things change quickly. Can't recommend him enough!
  
 
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   Ayoka Moss 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great time working with Brian on 4 refinances congruently!
  
 
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   Tammy Souther 
 
 
 
 Trustindex verifies that the original source of the review is Google. Brian and his team are fantastic! Highly recommend them for you home loan needs. Communicated well and made our process a breeze!
  
 
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   Nick Souther 
 
 
 
 Trustindex verifies that the original source of the review is Google. Amazing. Brian was amazing throughout the entire process. Very transparent, and involved with you as a client. He made a stressful experience ao much easier
  
 
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   Ginny Newman 
 
 
 
 Trustindex verifies that the original source of the review is Google. Brian was great to work with. He responded quickly and answered all our questions to help us understand and feel comfortable with the process.