Home Loans

Get Pre-Qualified

We have Options.
Clinch-Powell will match the best mortgage options to your unique situation. In addition to providing many traditional loan products, as a non-profit lender, we have access to a number of non-traditional home loan products that can provide home ownership opportunities to a greater number of people.

USDA 502 Direct

Loan Terms and Benefits

  • 100% Financing Possible(No Down Payment Required)
  • Fixed Rate
  • 33 Year Term (38 Year Term available for very-low income borrowers)
  • No Private Mortgage Insurance
  • Can include Closing Costs*

Location and Property Qualifications

  • Can be an existing home or new construction
  • Must be in an Eligible Area
  • Must pass Home Inspection
  • Income producing property not allowed

Eligibility

  • Income Limits (All household income counted)
  • Stable work history
  • Ability to repay the loan
  • Acceptable credit history
  • Can use Non-Traditional Credit
  • Borrower must occupy home
  • No foreclosure within the past 36 months
  • No bankruptcy within:
    • Chapter 7 - 36 months
    • Chapter 13 - 12 months

USDA Guaranteed

Loan Terms and Benefits
  • 100% Financing Possible(No Down Payment Required)
  • Fixed Rate
  • Low Private Mortgage Inurance
  • 30 Year Term
  • Can include Closing Costs*
  • Location and Property Qualifications
  • Can be existing home or new construction
  • Must be in an Eligible Area
  • Income Producing property not allowed
Eligibility
  • Higher Income Limits
  • Stable work history
  • Ability to repay the loan
  • Acceptable credit history
  • Can use Non-Traditional Credit
  • Borrower must occupy home
  • No foreclosure within the past 36 months
  • No bankruptcy within:
    • Chapter 7 - 36 months
    • Chapter 13 - 12 months

FHA (203b)

Loan Terms and Benefits

  • 3.5% Down Payment
  • Loan limits set by HUD
  • Private Mortgage Insurance required
  • Fixed Rate
  • 30 Year Term

Location and Property Qualifications

  • Must be an existing home
  • Must meet certain requirements

Eligibility

  • No Income Limits
  • A minimum of 2 years of stable work history or self-employment
  • Ability to repay the loan
  • Acceptable credit history
  • Borrower must occupy home for 1st year

VA

Loan Terms and Benefits
  • 100% Financing (No Down Payment Required)
  • No Private Mortgage Insurance
  • Fixed Rate

Location and Property Qualifications

  • Must be an existing home and meet certain guidelines
  • Not restricted to any specific location
  • No acreage limits

Eligibility

  • Must have VA Eligibility
  • No Income Limits
  • 2 years of stable work history or self-employment
  • Ability to repay
  • Acceptable credit history
  • Can use Non-Traditional Credit
  • Borrower must occupy home

Conventional

Terms and Benefits

  • Up to 100% financing
  • Down Payment varies
  • Fixed Rate

Location and Property Qualifications

  • No property or area restrictions
Eligibility
  • Acceptable credit history required
  • No Income Limits

Call Stace at 865-274-8598 for more information as we have many different conventional loan options.

Construction Loan

Loan Terms and Benefits

  • 90% Loan to Value
  • 6 Month Term (Extension Available)
  • Collateral Required
  • Origination Fee

Location and Property Qualifications

  • Contractor must be licensed
  • Inspections must be completed before draws can be made against the loan (typically happens in three draws)

Eligibility

  • Must be pre-approved for Permanent Financing
  • 780 Credit Score
  • No foreclosure within the past 48 months
  • No bankruptcy within the past 48 months

Clinch-Powell also has Communities where we are promoting homeownership by improving the affordability of new construction homes!

We offer comprehensive services.
We care about our community and always promote responsible lending. We offer coaching and education services to assist you with improving your credit and provide you with the information needed to make the best choices related to topics from home loan financing to choosing a home.

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Loan Services Staff

Stace Karge is a USDA Certified loan packager, and housing loan specialist. Stace came to Clinch Powell in June of 2022, and is one of the top loan packagers in the nation.

Stace holds Bachelors and Masters Degrees in Strategic Leadership from Tennessee Tech (Wings UP!) and is in the process of obtaining her Doctorate from the University of the Cumberlands.

Samantha has been with CP since 2019 as a student intern from Lincoln Memorial University and Appalachia CARES / AmeriCorps member. She graduated from Lincoln Memorial University in 2020 with her Bachelors of Science in Social Work (BSSW). She is the intake specialist and primary data manager for the Loan Services Team and the Lakeway Financial Opportunity Center.

Gary Karge joined our team in 2023 as an Appalachia CARES AmeriCorps member focused on energy savings and home modifications/home repair education and outreach in our Upper Cumberland territory.