In Tennessee, finding the right mortgage can save you thousands of dollars. Mortgage-Info.us was created for that purpose. If you are looking for Lenders, Mortgage Rates, or Mortgage Brokers – we’ve have them. When you fill out our mortgage quote form, you’ll get offers from 2-4 different lenders that will compete to save you money.
Featured Mortgage Lenders in Tennessee
Tennessee Mortgage Quick Facts
Tennessee State Population: 5,689,283*
Median Tennessee Home Price: $93,000*
Total Tennessee Housing Units: 2,519,825*
House Ownership Rate in Tennessee: 69.9%*
Types of Mortgage Loans Available in Tennessee
- Fixed Rate Mortgage Loan
- Adjustable Rate Mortgage Loans
- Interest only Mortgage Loans
- LIBOR Mortgage Loans
- Cash Out Mortgage Loans
- Refinance Mortgage Loans
- Second Mortgage Loans
- Home Purchase Mortgage Loans
- Reverse Mortgage Loans
- Home Equity Lines of Credit
- Home Equity Loans
- Special Mortgage Loans
How Your Credit Score Affects Your Mortgage Rate
First you need to know what your current credit score is. You should compare that against the average Tennessee consumer credit score of 676, and the national average credit score of 677. Your credit score impacts what your home mortgage rate will be. Historically home mortgage rates have varied from 5% to over 13%. Lenders create their home mortgage rates by using the Federal Discount Interest Rate and then increase it by using an internal formula to create their own home mortgage rate. When you apply for a home mortgage, your home mortgage rate will be determined by a whole host of factors, but your credit score is one of the most important.
Tennessee Mortgage State Laws:
Mortgage Laws Governed
State Statutory & Common Law
Tennessee is a non-judicial foreclosure state. There is no right of redemption for the debtor once the property is sold. Any surplus from the sale of the property will be given to the debtor, or the debtor’s creditors. The first notice of property sale shall be published twenty days before the sale.
Home Loan Protection Act
This Act was added in 2004. It was designed to protect consumers, and does so by eliminating “flipping,” by prohibiting lenders to encourage default, and by eliminating certain fees, among other things.
White Collar Crime Supervisor
John J. Duncan FOB, Suite 600
710 Locust Street
Knoxville, TN 37902-2537
Phone: (865) 544-0751
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