Mortgage rates for Tennessee on Lender411 for 30-year fixed-rate mortgages are at 4.21%.
That increased from 3.94% to 4.21%.
The 15-year fixed rates are now at 3.31%. The 5/1 ARM mortgage for Tennessee is now at 3.40%.
If you are looking for the best Tennessee mortgage rates or refinance rates, you’ve come to the right place. Finding the lowest rates is easy when you have access to our vast network of trusted mortgage professionals in Tennessee. Talk to multiple mortgage lenders servicing TX to compare rate quotes and understand your options.
Tennessee Mortgage Refinance
Why is it critical to find the lowest rate when refinancing? Simply put, this is the entire goal of a refinance. The lower your new rate, the more money you’ll save. While there are many ways to secure a refinance loan, the best option is the no cost refi, which allows you to switch to a new mortgage with a lower rate without paying the fees associated with closing a new loan.
Home Loans in Tennessee
The loan types available in Tennessee are much like those available elsewhere. One of the most widely available mortgage loan types is the 30 year fixed rate mortgage. As the name implies, this loan comes with a fixed interest rate. This is considered the most financially sound mortgage by many borrowers. Some opt for the 15-year fixed option.
The adjustable rate mortgage (ARM) is another common loan type. You can also pursue a jumbo loan, interest only loan, balloon mortgage, or other specialized loan type. Whether or not one of these loans fits you will depend entirely on your needs and the requirements of your lender. Government backed loans, such as the FHA loan and the VA loan, are available to those who qualify.
Tennessee is a unique state with its own distinct vibe. It is located in the Southern part of the United States, but it retains a flavor all its own. Tennessee's population is estimated to be around six million. Tennessee's economy is centered on textiles, agriculture, cotton, and electrical power, and the state boasts a large selection of higher education institutions.
Tennessee is known for its musical influence, as both Memphis and Nashville are located within the state and have become significant icons within the history of music. Nashville is the capital city of the state and has earned the nickname "Music City" as a result of the country music market that has flourished there. If you are fan of music, history, or both and you are looking for a place to live with southern charm and a vibrant urban scene, consider becoming a homeowner in Tennessee.
To learn more about homeownership in Tennessee or research TN home buying programs, visit the Tennessee HUD portal.
Follow these links to learn more about Tennessee mortgages.