Mortgage Investors Group

read moreMIG enjoys a reputation for delivering unparalleled service to homebuyers. Our experienced mortgage experts take pride in providing personalized service aimed at helping borrowers find the best solution for their home-financing needs. In addition to offering competitive rates and a diversified line of residential mortgage products, including government and conventional loans, MIG houses on-site underwriting, as well as processing and appraisal services, and employs state-of-the-art technology to ensure a swift and professional lending experience.

read moreMortgage Investors Group (MIG) is committed to helping families in the Southeast fulfill their dreams of homeownership. Co-founders Chuck Tonkin II and Chrissi Rhea opened a modest lending office in Knoxville, Tennessee, in 1989 with five colleagues. Today, with nearly 400 employees in 29 branch locations, MIG is a leading provider of single-family residential mortgages in the Southeast. As the Tennessee Housing Development Agency's (THDA) top lender since 2003, MIG also enjoys a reputation for delivering unparalleled service to first-time homebuyers.

read moreOut of the entire home purchasing process, closing costs are often the least understood pieces. Because of that, we will take the time to address your questions and offer answers. Although closing costs tend to vary from lender to lender, they are generally considered any costs tied to the purchases of a new home. Today, these costs range from 2 to 7 percent of the home's purchase price and include three basic categories: prepaid expenses, mortgage points, and out-of-pocket expenses. The following items are prepaid expenses: homeowner's insurance, mortgage insurance, and the costs to set up an escrow account.

read moreBuying a home can be an exciting, yet daunting process. If you plan on taking out a loan, it's important to understand what type of home loan you will need to pay for your new home. FHA home loans are government-insured loans, which means they are backed by the U.S. federal government. Conventional home loans are not. Choosing which type of loan is best for you depends on your individual goals and needs. Mortgage Investors Group can help you find out if you qualify for an FHA loan today! Whether you are looking for a home or are investing in real estate, our professional loan experts are ready to assist you.

read moreChuck Tonkin II and Chrissi Rhea have always shared the same vision for what the homebuying experience should be. They believed loan officers needed resources, technology and support to be able to offer the best home-financing solutions to borrowers. They recognized that each borrower had distinctive goals, and they understood the importance of delivering on the promises they made. They founded Mortgage Investors Group in 1989 with those goals in mind. Their blend of business savvy and the desire to always do the right thing for their customers and employees has helped them cultivate relationships with borrowers, Realtors, investors and colleagues that have made MIG the leader it is today in the mortgage lending industry.

read moreMortgage Investors Group, based in Tennessee, offers residential financing in a number of states in the southeast, See MIG Service Areas. Terms and conditions to apply to home financing. We want to share with you the loan terms vary based on several characteristics and your financial profile. These include but are not limited to loan program, loan purpose, occupancy, credit history, credit score, assets, and other criteria per loan type. The repayment terms and interest rate may vary from time to time.

read moreWhen you apply for a home loan, we will evaluate your application in terms of your income, credit, collateral, and your assets or the cash involved in the sale of your home, as well as your cash reserves after the loan closes. While assets do not come up often in terms of qualifying for a mortgage, they are still very important. We will want to verify the source of your down payment and closing costs, along with your other assets. You cannot just come up with the money for a mortgage; we want to know where your assets came from.

read moreThe FHA loan program is one of the most popular mortgage programs in the United States. The Federal Housing Administration (FHA) does not lend money, but insures loans made through FHA-approved lenders, which reduces their risk if the borrower defaults. This allows lenders to provide loans to borrowers who would otherwise not qualify, including those with average credit or low to middle income. Following a great deal of defaults and foreclosures, the FHA mortgage program was put in place in the 1930s to offer mortgage lenders insurance against their risk and make home loans more affordable and accessible.