Current Tennessee Mortgage Rates
Quick Mortgage Definitions / Terms / Facts
Is my personal information safe?
Absolutely. Your privacy and security is of the utmost importance to us. After logging into this system, your information
is encrypted so your personal information cannot be accessed or viewed by anyone without the proper privileges. We
maintain the highest level of security and data encryption available throughout your loan process.
Who are "Fannie Mae" and "Freddie Mac"?
Fannie Mae, also known as the Federal National Mortgage Association FNMA and Freddie Mac, also known as the Federal
Home Loan Mortgage Corporation FHLMC, are government-sponsored enterprises GSE that buy mortgages from lending
institutions in the secondary market; both operate as publicly traded corporations.
What is prepaid interest?
This is the interim interest that accrues on the mortgage loan from the date of the loan closing to the beginning
of the period covered by the first monthly payment. For example, if your closing date is scheduled for April 15,
the first mortgage payment is due June 1. The lender will calculate a per-day interest amount that is collected at
the time of closing. This amount covers the interest accrued from April 15 to May 1 and then your June 1 payment
covers interest from May 1 to June 1.
When will an appraisal be done on my house?
After your loan has been approved and we have reviewed the loan and any additional needed items with you, we will order
the appraisal from a local appraiser. You will pay the appraiser directly for their services.
Steps to Getting a Tennessee Mortgage?
Get a Free Credit Report!
The first step to getting a Tennessee mortgage is to know your credit score.
Understanding your credit report is a critical part to getting your mortgage.
Raise your score while you shop for your Tennessee home to get the lowest rate at closing, with a few easy steps you can easily raise your score in within a few months.
Get your Credit Score
Build Your CreditPrequalify today for a new MasterCard that matches your credit profile. Risk Free. Start Now.
Increase Your Credit Score
Increase Your Credit Score – When you make your payments regularly, you improve your credit rating. Once your pre-payment penalty period is over, you should be able to refinance your mortgage loan for a much lower interest rate. After your bankruptcy has been discharged for over 2-3 years, you should have a much easier time qualifying for a lower interest rate mortgage loan.
Lending Tree Mortgage Calculator
Compare Tennessee local and national bank lenders.
Tennessee Mortgage Lenders are among some of the most stable and succesful in the country. Now is the time to get a new or refinanced mortgage while TN interest rates are low!
Fix Your Credit before Applying
Although it is very possible to get approved for a first time home loan with poor credit, a good credit rating will open the doors for low rates and better financing options. Improving your credit is a slow process. To begin, strive to pay all creditors on time and avoid skipping payments. A key to increasing credit scores is maintaining a good credit standing. Secondly, reduce your debts. Maintain credit cards at half the maximum limit. If possible, payoff balances monthly.
