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Tennessee Mortgage Rates

Finding and Comparing Mortgage Loan Rates in Tennessee

Nashville, Graceland, and the Great Smoky Mountains National Park are just a few of the tourist destinations for which Tennessee is known. Among home buyers and owners, it’s built a reputation for offering great rates on Tennessee mortgages, Tennessee refinances, and Tennessee second mortgages. MortgageSearchLive.com also has built a reputation: It’s the place to go for help finding these great rates.

Besides tourism, Tennessee’s economy is fueled by the agriculture, textile, and electrical power industries. Tennessee is home to several well-known institutions of higher learning and is revered for its southern charm. With so much to see and do, the state’s 6-million residents are never bored in this land of four spectacular seasons.

Types of mortgage loans in Tennessee

  • Adjustable-rate mortgages or ARMs have terms that change. Payments are low during the introductory period and usually increase after it expires.
  • Unchanging terms characterize a fixed-rate mortgage (FRM) with its fixed interest, payment, and maturity date. 
  • Second mortgages have either fixed or adjustable terms. A HELOC or home equity line of credit has a variable rate whereas home equity loans have fixed rates.

Tennessee mortgage refinancing

Refinancing appeals to homebuyers anxious to secure better terms than they already have. Other reasons homeowners refinance include:

  • Lower interest rate and/or mortgage payments.
  • Obtaining cash to cover home improvements.
  • Consolidating credit card and other high-cost debt.

To lower mortgage payments, you’ll need a lower rate refinance. When lower rates aren’t available, consider a longer loan term refinance.

If consolidating debt or cashing out is your goal, your home needs equity, a good deal of it. A home’s increased value builds equity as does lowering the debt balance on your mortgage.

Comparison shopping for Tennessee mortgages

Finding the best rate on a Tennessee mortgage can be tricky. But it doesn’t have to be. What follows is some helpful advice designed to assist you in making an informed decision. Most important is a lender’s advertised rates. Unless you have excellent credit and are highly-qualified, these are not the rates you’ll be quoted. To find out how your credit score stacks up to today’s prevailing rates MortgageSearchLive.com offers charts that sort rates by credit profile. Second most important to keep in mind is that the only quotes that count are those in writing. Verbal quotes are all you’re going to get until you complete and submit Tennessee mortgage applications. After that, the terms you’re offered will be in writing. Now come on over to Tennessee, the Volunteer State, where good things are waiting to happen.

Popular Areas in Tennessee

Athens
Bristol
Brownsville
Chattanooga
Clarksville
Cleveland
Columbia
Cookeville
Crossville
Davidson County
Dyersburg
Franklin County
Greeneville
Harriman
Jackson
Johnson City
Kingsport
Knoxville
La Follette
Lawrenceburg
Mcminnville
Memphis
Morristown
Murfreesboro
Nashville
Newport
Paris
Sevierville
Shelbyville
Tullahoma
Union City