mortgage information

Legends Mortgage Services understands the benefits of owning a home, including tax advantages, security, and equity. Our lenders listen—to your dreams, your desires, and your concerns. And with a variety of programs, flexible rates, and prompt closings, we're confident we can find the mortgage plan that fits you. Talk with us to learn which type of mortgage best suits your budget and borrowing needs.

Sound bank loan policies, coupled with careful observance of state and federal lending regulations, make Legends Bank your dependable partner in providing a wide range of loan services. Being a real community bank allows us to meet your individual needs with our quick decisions and one-on-one consultation. If you’re ready to apply, you may complete a mortgage application online now.

Conventional Home Loans

Legends Bank offers conventional home financing for terms up to 30 years with fixed rates or several variable rate options. Talk with us to learn which type of mortgage best suits your budget and borrowing needs.

VA Loans

A VA loan is guaranteed by the U.S. Department of Veterans Affairs; as a result, your home loan could have flexible terms and typically no down payment (qualified military veterans with at least six months of active duty). This loan also is available to the unmarried spouse of a deceased veteran whose death was service-related, or spouse of an MIA or POW. Other possible benefits may include that the seller pays up to 4% toward the borrower's closing costs.

FHA Loans

The Federal Housing Administration administers this home loan, which features a low down payment and easy qualification.

Other features include:

• Borrower may qualify for 3.5% down payment
  
• Seller may pay up to 6% of the sales price toward closing costs

Tennessee Housing Development Agency (THDA) Loans

First-time buyers or those who have not owned a home within at least three years may qualify for these lower-interest rate loans. Financing is subject to the availability of state funding.

Special Home Loan Financing

Legends Mortgage Services offers several government sponsored home ownership incentive programs. These special financing options are designed to lower your interest rate, down payment amount, and/or closing costs. Here are a few examples:

Construction Loans

Legends Bank is your headquarters for construction loans. We will help arrange a loan that lets you and your family build the home of your dreams. Construction/permanent loans are also available.

Home Equity Loans

A home equity loan lets you make major purchases with the equity you've built up in your home. It also gives you the added benefit of possible tax savings. Consult your tax advisor regarding the deductibility of interest.

Home Improvement Loans

Legends Bank can make any type of home or property improvement loan. Talk with us about a loan that helps you add on a room, redecorate, even install a new pool.

Refinance Your Home … and Save

When interest rates drop by at least 1.5% below your existing mortgage loan rate, you may be able to save money by refinancing your loan. Contact Legends Mortgage Services to help you determine if refinancing will:

• Reduce your interest rate and lower your payments
  
• Reduce your mortgage term and pay off your loan faster
  
• Convert your equity into instant cash and possibly qualify you to receive a tax deduction. Consult your tax advisor regarding the deductibility of interest.

A checklist of what to bring.

While buying a home is a thoughtful, careful decision, Legends Mortgage Services strives to make your loan process smooth and seamless. This helpful checklist will save you time, as it includes the items we'll need when you're ready to apply.

Mortgage Originators

View a listing of our NMLS ID numbers here .

• Prequalification Form
• Residential Real Estate Application