Population
6,910,840
Average Household Income
$82,012
Cheryl Allen
Loan Officer
Melbourne, FL
Licensed in FL & TN
NMLS #432408
Trusted Mortgage Lender in Tennessee
Customized home loans tailored for Tennessee buyers, with local service and national strength.
Born in New England, Built to Serve Tennessee
NewFed Mortgage Corp. is a great option for individuals and families looking to secure a mortgage in Tennessee. As a trusted mortgage lender in Tennessee, NewFed Mortgage Corp. is dedicated to helping clients find the right mortgage product for their unique financial situation. Whether you are a first-time homebuyer or looking to refinance your existing mortgage, this mortgage lender in Tennessee offers a wide range of mortgage products and competitive rates. With a commitment to providing exceptional customer service, NewFed Mortgage Corp. strives to make the mortgage process as seamless and stress-free as possible.
Tennessee offers a diverse range of great places to live, each with its own unique charm and appeal. Nashville, the state capital, is a vibrant city known for its music scene, delicious cuisine, and bustling nightlife. Memphis, located on the Mississippi River, is a cultural hub with a rich history and renowned barbecue. For those who prefer a smaller town feel, Franklin, located just outside of Nashville, offers a quaint and charming downtown area with plenty of shops, restaurants, and local events. Chattanooga, situated in the southeastern part of the state, offers stunning natural beauty with its mountains, rivers, and outdoor recreational activities. Finally, for those seeking a quieter lifestyle, the town of Jonesborough, located in the northeastern part of the state, offers a peaceful and idyllic setting with a strong sense of community.
Danvers Branch
Reading Branch
North Andover Branch
Winthrop Branch
Milton Branch
Loan Officers In Tennessee
Tennessee at a Glance
Tennessee Mortgage & Housing Market Insights
Median Household Income
According to the U.S. Census Bureau, the median household income in Tennessee is $99,858. Don't let that deter you from exploring financing. We have several programs that can help you save.
Median Home Price
Zillow reports that the average home value in Tennessee is $628,654, reflecting a 5.1% increase over the past year.
Affordability Index
Research indicates that the median household income as a percentage of home value is 15%. While this suggests that housing affordability is a significant challenge here, we can help!
Financed Property Types
The most commonly financed property types in Tennessee continues to be single-family and multi-family homes.
Mortgage Options for Tennessee Homebuyers
Conventional Loans
Best for people with steady income and good credit who want low-interest rates.
VA Loans
A top choice for veterans, active military, and their families to buy a home with no down payment.
USDA Loans
Best for people buying a home in the country, with no down payment and low costs.
Reverse Mortgages
A good choice for older homeowners who want to get money from their home without selling it.
Non-Conventional Loans
A good option for people who don’t qualify for regular home loans but need a special loan.
HELOC Loans
Lets homeowners use the value of their home to get money for projects or bills.
FHA Loans
A smart pick for first-time homebuyers or people with lower credit who need a small down payment.
Ask Us About MassHousing
Partnered with MassHousing, we can offer eligible homebuyers additional savings on their home purchase. Speak to one of our Tennessee loan officers to learn more and discuss your eligibility.
Mortgage Pricing & Affordability Calculators
Crunch some numbers to see what options you may have. These calculators are a great way to start exploring your possibilities. To get a true loan estimate, reach out to one of our mortgage loan officers! We will get you pre-approved and shopping with confidence.
Five Things to Know When Starting the Homebuying Process
Just getting started on your homebuying journey? Our free guide, 5 Things to Know When Starting the Homebuying Process, is packed with expert tips to help you feel confident and prepared from day one. Learn how to get pre-approved, understand hidden costs, act fast in competitive markets, and more. Download your copy today and take the first step toward smart, stress-free homeownership with NewFed Mortgage by your side.
Why More Tennessee Buyers Choose NewFed Mortgage
- Fast closings (39% faster than industry average)
- Local loan officers across the state
- Modern (and mobile-friendly) tech + personal support
- 20+ years of local mortgage lending
- Family-owned, Chelsea-based roots
- Named A Top Place to Work by The Boston Globe (2024)
