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Review Keywords Analysis

  1. United States
  2. Best Mortgage Brokers
  3. Mortgage Brokers in Tennessee
  4. Memphis
  5. Mortgage Affordability Calculator
1 · Your income
2 · Down payment
3 · What you can afford
Step 1 of 3

Mortgage Affordability Calculator Memphis, TN

How much house can you afford in Memphis? See your maximum price, monthly payment and pre-approval estimate. Free, instant, no credit check.

Updated · current rates and lending limits

Add your partner's income if you're buying together.

Car loans, credit cards, lines of credit, student loans. Not rent.

Property tax are for this state.

An estimate, not a mortgage approval or pre-approval. A mortgage broker confirms your real number.

Top-rated mortgage brokers in Memphis

Ranked by TrustAnalytica from verified reviews · see the full Top 10 list →

1

The Wendy Thompson Lending Team

The Wendy Thompson Lending Team helps buyers secure home loans, even when applications have been rejected elsewhere, focusing on clear communication and avoiding surprises in payments. They assist with online applications and offer guidance throughout the process, with customers appreciating their support and responsiveness every step of the way.

Services & Prices
Home Purchase Mortgage Quoted per loan
Refinancing Quoted per loan
Pre-Approval Services Quoted per loan
View Profile
(901) 461-8858
Closed Now
6489 N Quail Hollow Rd Ste. 106, Memphis, TN 38120, USA
General Services
Mortgage Services
2

Local Mortgage Inc.

Local Mortgage Inc. offers personalized mortgage services with a focus on attentive, responsive support from a family-owned team. Serving multiple states from Tennessee, they help customers secure competitive rates for purchases and refinancing. While their thorough documentation process can feel demanding, clients appreciate the clear communication and smooth closings.

Services & Prices
Home Purchase Loans Quoted per loan
Mortgage Refinancing Quoted per loan
Pre-Approval Services Quoted per loan
Property Appraisal Quoted per loan
View Profile
(901) 504-4663
Closed Now
5350 Poplar Ave Suite 850, Memphis, TN 38119, USA
General Services
Mortgage Services
3

PrimeLending, A PlainsCapital Company - Memphis

With over 35 years of experience, PrimeLending, A PlainsCapital Company in Memphis specializes in guiding customers through mortgage and refinance loans, including renovation financing that combines home improvements into one payment. The team provides clear communication and prompt service, helping many first-time buyers feel confident throughout the process.

Services & Prices
Conventional Loan Quoted per loan
FHA Loan Quoted per loan
VA Loan Quoted per loan
Rate and Term Refinance Quoted per loan
View Profile
(901) 416-9570
Closed Now
6750 Poplar Ave # 118, Memphis, TN 38138, USA
General Services
Home Loan
4

Andrew O'Fee - The Yankee Closer

Specializing in guiding first-time homebuyers and refinancers through the mortgage process, Andrew O'Fee - The Yankee Closer offers clear communication and attentive support from application to closing. The team is known for thoroughness and responsiveness, helping clients feel informed and confident, though some may find the process detailed.

Services & Prices
Home Purchase Loans Quoted per loan
Refinancing Quoted per loan
VA Home Loans Quoted per loan
View Profile
(901) 237-3526
Closed Now
684 W Brookhaven Cir, Memphis, TN 38117, USA
General Services
Mortgage Services
5

New American Funding - Memphis, TN

Known for fast loan closings and clear communication, New American Funding’s Memphis team helps a wide range of homebuyers navigate mortgage options. They offer loan origination and funding services, with clients appreciating the team’s responsiveness and support throughout the process, even when challenges arise.

Services & Prices
Conventional Loans Quoted per loan
FHA Loans Quoted per loan
VA Loans Quoted per loan
Relationship Management for Buyers Quoted per loan
View Profile
(901) 590-5817
Closed Now
6000 Poplar Ave Ste. 250, Memphis, TN 38119, USA
General Services
Home Loan Services
Where they are 10 on the map Click a pin for the profile and directions
6

Mortgage Financial Services

Mortgage Financial Services focuses on helping homebuyers find the right mortgage product to fit their needs, whether they’re purchasing their first home, refinancing, or investing in a second property. The team guides clients through each step with clear communication and responsiveness, making the process straightforward and less stressful. Customers appreciate their patience and attention to… more...

Mortgage Financial Services focuses on helping homebuyers find the right mortgage product to fit their needs, whether they’re purchasing their first home, refinancing, or investing in a second property. The team guides clients through each step with clear communication and responsiveness, making the process straightforward and less stressful. Customers appreciate their patience and attention to detail throughout the loan experience.

Services & Prices
Home Purchase Assistance Quoted per loan
Refinancing Assistance Quoted per loan
Equity Pull-Out Quoted per loan
View Profile
(901) 748-5618
Closed Now
1582 Poplar Ave,Memphis, TN 38104
General Services
Mortgage Services
7

Eagle Mortgage & Funding

Known for serving Tennessee and Mississippi since 1994, Eagle Mortgage & Funding offers a variety of loan options including fixed-rate, FHA, VA, USDA, and 203k loans. Clients appreciate the team’s professionalism and support throughout the home purchase process, though some note occasional delays and communication gaps during refinancing.

Services & Prices
Conventional Loan Quoted per loan
FHA Loan Quoted per loan
VA Loan Quoted per loan
Rate and Term Refinance Quoted per loan
View Profile
(901) 761-9700
Closed Now
6260 Poplar Ave, Memphis, TN 38119, USA
General Services
Home Purchase
8

Benchmark Mortgage

Known for responsive communication and a patient, knowledgeable team, Benchmark Mortgage assists with home purchases and refinancing to secure better rates or cash options. Clients appreciate their friendly approach and smooth, timely transactions, often highlighting how they simplify what can be a complex process.

Services & Prices
Home Loan Quoted per loan
Refinancing Quoted per loan
View Profile
(901) 490-1570
Closed Now
3263 W Sarazens Cir, Memphis, TN 38125, USA
General Services
Mortgage Services
9

Mortgage Investors Group - Memphis

Mortgage Investors Group is Tennessee Housing Development Agency’s top lender, specializing in residential single-family mortgages with a focus on first-time homebuyers. They offer conventional and government loans, supported by on-site appraisal, underwriting, and processing to streamline the lending process. Customers appreciate the team’s responsiveness, though some have noted occasional… more...

Mortgage Investors Group is Tennessee Housing Development Agency’s top lender, specializing in residential single-family mortgages with a focus on first-time homebuyers. They offer conventional and government loans, supported by on-site appraisal, underwriting, and processing to streamline the lending process. Customers appreciate the team’s responsiveness, though some have noted occasional issues with customer service and appraisal accuracy.

Services & Prices
Home Purchase Loan Quoted per loan
Refinance Loan Quoted per loan
FHA/VA Loans Quoted per loan
Residential Appraisal Quoted per loan
View Profile
(901) 761-6910
Closed Now
1000 Brookfield Rd #225, Memphis, TN 38119, USA
General Services
Mortgage Services
10

Hometown Lenders

Hometown Lenders focuses on using advanced technology and expert guidance to simplify mortgage financing, even for challenging situations. The team offers personalized assistance throughout the loan process, helping clients navigate complexities with care. Customers appreciate their supportive approach, though some note the process can still feel detailed.

View Profile
(901) 413-4444
Closed Now
6465 Quail Hollow Rd Suite 200, Memphis, TN 38120, USA

Latest reviews of Memphis Mortgage Brokers

Written on TrustAnalytica by clients of the businesses in this list
  • Jesse

    Our experience with Mortgage Investors Group was marred by several issues, leading to a negative outcome that prompted us to choose another lender. Initially, agreeing to work with them resulted in a barrage of irrelevant sales and marketing spam inundating my email account, which, despite their apo…

Memphis Mortgage Statistics

Home-purchase lending in Shelby County and home costs in Memphis, TN (latest HMDA and Census data)

Lenders made 7,803 home-purchase loans in Shelby County in 2025 (average about $308,000) and denied 1,034 — 12% of decided applications, compared with 15% across Tennessee, according to federal mortgage data (HMDA, CFPB). In Memphis, the median home is worth $169,000 and 57% of owners have a mortgage, paying a median $1,420 a month (Census ACS 2020–2024).

Home-purchase loans, 2025
7,803▼ 6%8,318 in 2024
Denial rate
12%TN 15%
Median home value
$169,000TN $286,700
Monthly cost with a mortgage
$1,420median · TN $1,566
Refinance loans made (Shelby County, 2025)
4,532 · 3,718 in 2024
Home-improvement loans made (2025)
1,206
Average home-purchase loan
$308,000 (TN $375,000)
Owners with a mortgage
57% · 33% of them spend 30%+ of income on housing
Median household income
$51,736 (TN $69,595)

Source: CFPB / FFIEC Home Mortgage Disclosure Act (HMDA) data, 2024–2025 loan applications in Shelby County (originated vs denied); home values and costs: U.S. Census Bureau ACS 2020–2024. Compiled by TrustAnalytica.

Memphis Mortgage Brokers stats: 10 businesses compared side by side · updated
# Business Rating Reviews Starting price Phone Website
1 The Wendy Thompson Lending Team 4.9 100 Quoted per loan (901) 461-8858 Visit
2 Local Mortgage Inc. 4.9 100 Quoted per loan (901) 504-4663 Visit
3 PrimeLending, A PlainsCapital Company - Memphis 4.9 97 Quoted per loan (901) 416-9570 Visit
4 Andrew O'Fee - The Yankee Closer 4.9 80 Quoted per loan (901) 237-3526 Visit
5 New American Funding - Memphis, TN 5.0 40 Quoted per loan (901) 590-5817 Visit
6 Mortgage Financial Services 5.0 26 Quoted per loan (901) 748-5618 Visit
7 Eagle Mortgage & Funding 4.3 20 Quoted per loan (901) 761-9700 Visit
8 Benchmark Mortgage 5.0 15 Quoted per loan (901) 490-1570 Visit
9 Mortgage Investors Group - Memphis 4.4 13 Quoted per loan (901) 761-6910 Visit
10 Hometown Lenders 5.0 5 — (901) 413-4444 Visit

How this Memphis mortgage affordability calculator works

Lenders look at your debt-to-income ratio. Housing costs (principal and interest, property tax, homeowners insurance and mortgage insurance) should stay under about 31% of your gross monthly income, and housing plus your other monthly debts under 43%. The calculator finds the highest home price that passes both tests with your down payment, on a 30-year fixed loan.

Tennessee rules and numbers this calculator uses

Debt-to-income
31% for housing and 43% total, the FHA standard and the long-time Qualified Mortgage limit. Some conventional loans go higher with strong credit and savings.
Down payment
At least 3% on a conventional first-time buyer loan (3.5% on FHA). Under 20% down, private mortgage insurance of about 0.6% of the loan a year is added to the payment.
Property tax
About 0.46% of the home's value a year, the Tennessee average for owner-occupied homes (2024 Census ACS).
Insurance
Homeowners insurance assumed at $150 a month; it varies a lot by home and location.
Rate
Starts at 7.40% (Freddie Mac 30-year average, October 2026). Change it to the rate you have been quoted.

An estimate, not a mortgage approval or pre-approval. Your credit, income type, the property and the lender all change the answer; a mortgage broker confirms your real number. Sources: Freddie Mac Primary Mortgage Market Survey (October 2026), U.S. Census Bureau American Community Survey 2024 property tax data, FHA and CFPB debt-to-income guidance.

Frequently asked questions

9 questions
How does the mortgage affordability calculator for Memphis work?
It estimates the highest home price you can qualify for based on income, debts, down payment, interest rate, and buyer status.
How accurate is the mortgage estimate from this calculator?
It's an estimate; a lender's pre-approval confirms the real number by verifying income, debts, credit, and down payment.
What is the debt-to-income ratio for mortgages in Tennessee?
Lenders often cap housing costs at 31% of gross income and total debt payments at 43%, though some allow more with strong credit.
What is the minimum down payment for a first-time buyer in Memphis?
It's 3% for conventional loans and 3.5% for FHA loans. VA and USDA loans can allow 0% down for eligible buyers.
How does PMI affect my mortgage in Tennessee?
With less than 20% down, PMI is about 0.6% of the loan annually and can be removed when the balance is below 80% of the home's value.
How do interest rates change what I can afford in Memphis?
Higher rates increase monthly payments, reducing the home price you can afford. Rates start at 7.40% in this calculator.
How do my debts affect my mortgage qualification in Tennessee?
Higher monthly debts reduce the amount you can borrow, as lenders cap total debt payments at 43% of gross income.
What are property taxes like in Tennessee?
Property tax is about 0.46% of the home's value annually, based on the 2024 average for owner-occupied homes.
What's the difference between mortgage pre-approval and pre-qualification?
Pre-approval involves verifying your financial details for a specific loan amount, while pre-qualification is an initial estimate without verification.

General information, not financial advice — consult a qualified professional.