Tennessee Mortgage Rates from a TN Mortgage Lender | Aspire

The Most Recent Tennessee Mortgage Rates for Your Home Loan or Refinance

From the splendor of the Great Smoky Mountains to the amazing live music of urban Nashville, if you’re looking to live somewhere with incredible food, natural beauty, and musical charm- you might want to consider magical Tennessee. Whether you’re a new Tennessee homebuyer or are looking to refinance an existing Tennessee mortgage, Aspire Lending is a certified Tennessee mortgage lender with expertise in Tennessee home loans.

Our connection to the most up to date Tennessee mortgage interest rates can help you choose when it’s the right time to apply for a mortgage or refinance. Bookmark and refer to this page often if you are interested in securing a low rate mortgage in Tennessee, as rates are subject to change. Wondering what kind of mortgage you should get in Tennessee? Check out our guide below to common Tennessee mortgages and see which you might qualify for. If you’re already a Tennessee homeowner, use this guide to find the most recent Tennessee refinance rates.

Tennessee

TODAY'S TENNESSEE INTEREST RATES: MORTGAGE REFINANCE*View APR disclosure.

Conventional Refinance

Conventional Refinance 15 Year - Fixed

Interest* APR*

Conventional Refinance 20 Year - Fixed

Interest* APR*

Conventional Refinance 30 Year - Fixed

Interest* APR*

Home Equity / Cash Out Refinance

Home Equity / Cash Out 15 Year - Fixed

Interest* APR*

Home Equity / Cash Out 20 Year - Fixed

Interest* APR*

Home Equity / Cash Out 30 Year - Fixed

Interest* APR*

FHA Streamline Refinance

FHA Streamline 15 Year - Fixed

Interest* APR*

 

FHA Streamline 30 Year - Fixed

Interest* APR*

VA Interest Rate Reduction Refinance Loan (IRRRL)

VA IRRRL 15 Year - Fixed

Interest* APR*

 

VA IRRRL 30 Year - Fixed

Interest* APR*

USDA Streamline Refinance

 
 

USDA Streamline 30 Year - Fixed

Interest* APR*

Jumbo Refinance

 
 

Jumbo Refinance 30 Year - Fixed

Interest* APR*

TODAY'S TENNESSEE INTEREST RATES: MORTGAGE PURCHASE *View APR disclosure.

Conventional Purchase

Conventional Purchase 15 Year - Fixed

Interest* APR*

Conventional Purchase 20 Year - Fixed

Interest* APR*

Conventional Purchase 30 Year - Fixed

Interest* APR*

FHA Streamline Purchase

FHA Streamline 15 Year - Fixed

Interest* APR*

 

FHA Streamline 30 Year - Fixed

Interest* APR*

VA Interest Rate Reduction Purchase Loan (IRRRL)

VA IRRRL 15 Year - Fixed

Interest* APR*

 

VA IRRRL 30 Year - Fixed

Interest* APR*

USDA Streamline Purchase

 
 

USDA Streamline 30 Year - Fixed

Interest* APR*

Jumbo Purchase

 
 

Jumbo Purchase 30 Year - Fixed

Interest* APR*

Tennessee Rate and Term Option Mortgage Refinance

You can refinance your Tennessee mortgage to adjust the interest rate and term, this can be a very simple way to save money. A conventional refinance of your Tennessee mortgage loan offers the flexibility to adjust your mortgage payment amount or reduce the total interest you will pay over the loan term. We offer low rates for your Tennessee home loan refinance at Aspire Lending. Come back to this page to check current interest rates and let us know when you are ready to refinance your Tennessee mortgage with a conventional rate and term refinance.

Loan Qualification Guidelines:

Conventional Refinance
  • Minimum FICO Credit Score: 620
  • Maximum Loan to Value: 95%
  • Maximum Debt to Income: 45%
  • Mortgage Insurance: Yes (for 80% LTV and above)
Tennessee Home Equity Loan

Tennessee home equity loans are a great way for homeowners to convert the equity in their home to cash. You may consider taking out a Tennessee home equity loan to free up money for paying bills, make home repairs, or finance a large purchase. Aspire Lending has the latest Tennessee mortgage rates including the most recent Tennessee home equity loan rates. Bookmark our website and check back often to see when Tennessee home equity loan rates change so that you can ensure you get the best deal possible.

Loan Qualification Guidelines:

Home Equity Loan
  • Minimum FICO Credit Score: 620
  • Maximum Loan to Value: 80%
  • Maximum Debt to Income: 45%
  • Mortgage Insurance: No
Tennessee Cash Out Refinance

A cash out refinance is useful for homeowners who are looking to refinance their existing Tennessee mortgage and take cash out of their earned home equity. A Tennessee cash out refinance allows you to take advantage of the equity you've built up in your home and pay a lower interest rate. If you are interested in seeing the latest Tennessee mortgage refinance rates check this page often.

Loan Qualification Guidelines:

Cash Out Refinance
  • Minimum FICO Credit Score: 620
  • Maximum Loan to Value: 80%
  • Maximum Debt to Income: 45%
  • Mortgage Insurance: No
Tennessee FHA Loan: Streamline Refinance

The streamline refinance loan is a type of Tennessee FHA loan that allows you to lower your FHA interest rate. Lowering your Tennessee FHA loan rate with Aspire is a simple and quick refinance process, and it might be right for you if you believe there is room to reduce your interest rate on your current Tennessee FHA mortgage. FHA loans are backed by the US Federal Housing Administration and they do not require an appraisal. Aspire Lending is a Tennessee FHA-approved lender.

Loan Qualification Guidelines:

FHA Streamline Refinance
  • Minimum FICO Credit Score: 640
  • Maximum Loan to Value: 95%
  • Maximum Debt to Income: 50%
  • Mortgage Insurance: Yes
Tennessee VA Loans: IRRRL

United States military veterans who live in Tennessee can potentially benefit from an interest rate reduction refinance loan on their current VA mortgage. Check back with Aspire Lending often for the most updated Tennessee VA loan rates.

VA IRRRL: What is it?

IRRRLs are an option for anyone who already has a loan through the Veterans Administration. IRRRLs give more favorable terms to a borrower, enabling them to have a loan’s monthly payment lowered or stabilized.

Loan Qualification Guidelines:

VA IRRRL
  • Minimum FICO Credit Score: 660
  • Maximum Loan to Value: 100%
  • Maximum Debt to Income: 41%
  • Mortgage Insurance: No
Tennessee USDA Loans: Streamline Refinance

A Tennessee USDA Streamline Refinance loan will allow you to refinance your current Tennessee USDA loan to more favorable terms. The USDA does not require an updated appraisal to refinance a Tennessee USDA mortgage to a lower interest rate and payment. Many Tennessee homeowners with USDA rural properties utilize the opportunity to get a streamline refinance to save them money on their mortgage payments and interest. Aspire Lending offers great rates on USDA streamline refinance loans in Tennessee, check this page for the most up to date interest rates.

Loan Qualification Guidelines:

USDA Streamline Refinance
  • Minimum FICO Credit Score: 620
  • Maximum Loan to Value: 100%
  • Maximum Debt to Income: 41%
  • Mortgage Insurance: Yes
Tennessee Jumbo Loan Refinance

Refinancing your Jumbo mortgage to a lower interest rate can save you a lot of money over the life of the loan. A loan is “Jumbo” if it is for more $647,200, though this number can be changed. Aspire Lending offers some of the lowest interest rates on Tennessee jumbo loans.

Loan Qualification Guidelines:

Jumbo Refinance
  • Minimum FICO Credit Score: 700
  • Maximum Loan to Value: 80%
  • Maximum Debt to Income: 43%
  • Mortgage Insurance: No
Tennessee Home Loans: Conventional Home Purchase

Conventional Tennessee home loans offer flexible options for home buyers. A conventional Tennessee home purchase mortgage has a minimum 5% down payment. There is also a conventional first-time home buyers loan program that offers a minimum 3% down payment for Tennessee mortgage applicants buying a primary residence for the first time.

Loan Qualification Guidelines:

Conventional Loan
  • Minimum FICO Credit Score: 620
  • Minimum Down Payment: 3%-5%
  • Maximum Loan to Value: 97%-95%
  • Maximum Debt to Income: 45%
  • Mortgage Insurance: Yes (for 80% LTV and above)
Tennessee FHA Loan

A Tennessee FHA loan is provided by an FHA-approved lender such as Aspire. Tennessee FHA loans, like all FHA loans, are backed by the US Federal Housing Administration. A Tennessee FHA loan could be the right option for you if you are looking for a mortgage in Tennessee, but also need to put less than 10% down. With a minimum down payment amount of 3.5% of the total home purchase price, FHA loans are a great option for first time Tennessee home buyers. Aspire always has the latest Tennessee FHA loan rates so check back frequently to see when the right time for you to get a Tennessee FHA loan could be. The Tennessee FHA streamline refinance loan allows you to lower your FHA interest rate with a simple and quick refinance process.

Loan Qualification Guidelines:

FHA Loan
  • Minimum FICO Credit Score: 620
  • Minimum Down Payment: 3.5%
  • Maximum Loan to Value: 97.5%
  • Maximum Debt to Income: 50%
  • Mortgage Insurance: Yes
Tennessee VA Loans

Tennessee Veterans Administration loans support our armed forced community by helping them secure a mortgage with beneficial VA loan terms such as a lower interest rate or longer term. To qualify for a Tennessee VA loan, you must be a current or former member of the US armed forces in good status or a qualifying spouse. Aspire Lending is a certified mortgage lender offering Tennessee VA loans to those who have served or are serving in the armed forces. Check Aspire Lending often for the most updated Tennessee VA loan rates.

Loan Qualification Guidelines:

VA Loan
  • Minimum FICO Credit Score: 620
  • Minimum Down Payment: 0%
  • Maximum Loan to Value: 100%
  • Maximum Debt to Income: 41%
  • Mortgage Insurance: No
Tennessee USDA Loans

Tennessee USDA loans are a type of mortgage for residents of Tennessee who are interested in living in rural and developing locations as identified by the USDA. If that matches your description read on as you may be entitled to seek a Tennessee USDA loan. The USDA Loan Program is federally backed through the United States Department of Agriculture. As you might expect, USDA loans come with some geographical restrictions along with other caps; such as one on income and another limiting purchases to only single-family homes. If you think you meet the qualifications for a Tennessee USDA loan, then reach out to Aspire to speak with one of our Tennessee mortgage specialists. We always have the most recent rates on Tennessee USDA loans so check back frequently.

Loan Qualification Guidelines:

USDA Loan
  • Minimum FICO Credit Score: 620
  • Minimum Down Payment: 0%
  • Maximum Loan to Value: 100%
  • Maximum Debt to Income: 41%
  • Mortgage Insurance: Yes
Tennessee Jumbo Loans

A Tennessee jumbo loan is for you if you are looking to take out a larger than average loan in the state of Tennessee. These loans are for an amount greater than $647,200 though this number can be changed. Aspire is a certified Tennessee mortgage lender offering Tennessee jumbo loans at the latest rates. Check this page often to see the most recent Tennessee jumbo loan rates.

Loan Qualification Guidelines:

Jumbo Loan
  • Minimum FICO Credit Score: 700
  • Minimum Down Payment: 20%
  • Maximum Loan to Value: 80%
  • Maximum Debt to Income: 43%
  • Mortgage Insurance: No