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Tennessee Fixed Mortgage Rates

img Tennessee Average img National High img National Low img
Loan Type Base Rate APY Points Base Rate APY Points Base Rate APY Points
5.000 5.000 0.875 6.500 6.500 0.000 3.875 4.125 2.125
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4.375 4.399 N/A 6.625 6.500 0.125 3.750 4.000 1.625
5.500 6.250 0.000 6.125 6.125 0.125 3.375 3.625 1.500
4.000 4.250 0.000 6.125 6.125 0.000 3.250 3.750 1.625

Tennessee Adjustable Mortgage Rates

img Tennessee Average img National High img National Low img
Loan Type Base Rate APY Points Base Rate APY Points Base Rate APY Points
4.625 4.143 N/A 4.750 4.188 0.125 3.750 3.813 3.250
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3.938 3.559 N/A 6.875 5.000 0.125 2.750 3.125 2.500
3.625 3.423 1.125 6.375 4.500 0.125 2.375 3.125 2.375
3.250 5.500 0.125 6.125 4.250 0.000 2.500 3.250 1.000
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Mortgage Rates at 4.25%*

  • $150,000 loan for under $867/month
  • $225,000 loan for under $1,301/month
  • $350,000 loan for under $2,023/month
 

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National vs Tennessee 10/1 ARM Mortgage Monthly Payments

Loan Amount img Tennessee Average img National High img National Low img  
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$771.21                      $782.47                      $694.67                     
$874.04                      $886.80                      $787.30                     
$2,107.97                      $2,138.75                      $1,898.77                     

National vs Tennessee 30-yr. fixed Mortgage Monthly Payments

Loan Amount img Tennessee Average img National High img National Low img  
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$748.93                      $960.47                      $694.67                     
$848.78                      $1,088.53                      $787.30                     
$2,047.07                      $2,625.27                      $1,898.77                     

National vs Tennessee 15-yr. fixed Mortgage Monthly Payments

Loan Amount img Tennessee Average img National High img National Low img  
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$1,109.53                      $1,275.94                      $1,054.00                     
$1,257.47                      $1,446.06                      $1,194.54                     
$3,032.72                      $3,487.56                      $2,880.94                     

National vs Tennessee 5/1 ARM Mortgage Monthly Payments

Loan Amount img Tennessee Average img National High img National Low img  
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$684.08                      $935.80                      $582.98                     
$775.29                      $1,060.58                      $660.71                     
$1,869.81                      $2,557.87                      $1,593.48                     

National vs Tennessee 3/1 ARM Mortgage Monthly Payments

Loan Amount img Tennessee Average img National High img National Low img  
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$652.81                      $911.42                      $592.68                     
$739.85                      $1,032.94                      $671.71                     
$1,784.35                      $2,491.20                      $1,620.00                     
Source: Tennessee Housing Development Agency - Mar 31, 2009

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Average Rates

15-yr fixed*

4.0%

30-yr fixed*

4.375%

Tennessee Housing Development Agency (THDA) maintains a list of certified homebuyer education trainers who can help consumers as they consider purchasing a home. The "Realizing the American Dream" homebuyer education curriculum used by these certified trainers addresses the following four basic areas:

  1. Budgeting and Credit
  2. Shopping for a Home
  3. Getting a Mortgage Loan
  4. Keeping Your Home and Managing Your Finances.

Class will help:

  • The advantages and disadvantages of owning a home
  • Setting goals
  • How to budget and save
  • How much they can afford to pay for a home
  • The importance of good credit when they try to borrow money
  • How to find the right house in the right neighborhood
  • How to make an offer
  • The steps to getting a loan
  • How to maintain and protect their home after they move in
Home Repairs: Tennessee

The programs and resources listed below help homeowners with home repairs and improvements.

  • Americorps Tennessee Agencies - provide a variety of assistance to the elderly, disabled
  • City of Nashville Community Development Programs
  • City of Nashville Metro Action Commission Community Programs
  • Community Development Block Grant (CDBG) Program Contacts - some communities use CDGB funds from HUD for home improvement assistance to homeowners
  • HOME Program Contacts - some communities use HOME funds from HUD for home improvement assistance to homeowners
  • HUD-approved Housing Counseling Agencies
  • Local Homeownership Assistance Programs - some of these organizations may provide assistance for repairs or rehabilitation
  • Reconstruct.Org - Restoring Homes/Renewing Hope - home improvement with youth volunteers.
  • Tennessee Association of Community Action
  • Tennessee Department of Human Services Weatherization Assistance Program
  • Tennessee Housing Development Agency Community Programs
  • USDA Rural Development - home improvement, general repairs and/or rehabilitation loans for low-income rural residents
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MortgageDebt.com is not a banker or lender (“Service Provider”). Leading Service Providers participate in our matching engine who may have loan products available matching the criteria you submit in this interest profile. The information collected is not an application for credit or a mortgage loan, nor is it used to pre-qualify you with any Service Provider. There is no cost to submit a loan request, get matched with lenders and receive loan offers. You may review the loan offers and talk to the lenders at no cost. Of course, the lender you choose may require a fee to continue processing your loan request, but until you agree to pay the lender a fee, you may stop at no cost. MortgageDebt.com does not charge you, the consumer, a fee for its services. MortgageDebt.com is not responsible for the accuracy of the rate, APR and loan information as it based on third-party research, consumer and broker surveys and other published information sources.

*Mortgage Rate of 4.25% is for qualified borrowers for a 10-year fixed rate mortgage to refinance an owner-occupied, one-unit, single family dwelling for a loan of $165,000 to $417,000 ($165,000 to $625,500 in Alaska and Hawaii). If you are contacted by a lender or broker advertising within our network, your quoted rate may be higher, depending on your property location, credit score, loan-to-value ratio, debt-to-income ratio, and other factors. Not available in all states. Not available for all credit types. Not all service providers in our network offer this or other products with fixed rate options.

**This advertised rate is for qualified borrowers for to refinance an owner-occupied, one-unit, single family dwelling for a loan of $150,000, $225,000 or $350,000 with a interest only monthly payment of $867, $1301 or $2023. This is an interest only adjustable rate that is fixed for the first 12 months then is subject to increase no more than 1% every 6 months thereafter (until rate has caught up to fully indexed rate). To be eligible for this program borrower must meet applicable credit requirements, including a FICO score of at least 620. MortgageDebt.com is not acting as a lender or broker. The information provided by you to MortgageDebt.com is not an application for a mortgage loan, nor is it used to pre-qualify you with any lender. If you are contacted by a lender or broker advertising within our network, your quoted rate may be higher, depending on your property location, credit score, loan-to-value ratio, debt-to-income ratio, and other factors. Not available in all states. Not available for all credit types.

Last Updated: September 03, 2010