TN Mortgage Rates June 28, 2010
Mortgage rates in Tennessee have dropped rather measurably in June. When it comes to choosing the best TN mortgage rates a review of local bank mortgage lenders as well as the largest national bank mortgage lenders provides a good foundation.
Two of the top ten largest banks in Tennessee that offer competitive mortgage rates and home loan products include Wilson Bank and Trust and Home Federal Bank. These mortgage rates were recently compared to the mortgage rates of two of the top ten largest banks in the nation, Chase Bank and Bank of America.
The two largest U.S. banks are offering the following mortgage rates and terms:
Chase mortgage rates in TN on a 30 year fixed rate mortgage is at 5.125% with 0.25 points and an APR of 5.219%.
Chase Bank offers the 15 year fixed rate loan at 4.625% with no points and a 4.746% APR.
Bank of America markets a 30 year mortgage rate at 4.75% and 1.125 points with an APR of 4.892%.
Bank of America mortgage rate on 15 year home loan is at 3.875% with 1.0 point and an APR of 4.099%.
The two top ten banks in Tennessee are offering the following mortgage rates and terms:
Home Federal Bank based in Knoxville offers a 30 year fixed rate home loan with a rate of 4.25% with 1.25 points and an APR of 4.3744%.
The 15 year fixed rate mortgage from Home Federal Bank is at 3.75% with 1.0 point and a 3.929% APR.
Wilson Bank and Trust promotes a 30 year fixed at 4.50% with no points and a 4.528% APR.
The TN mortgage rate for a 15 year from Wilson Bank and Trust is at 3.875% and no points and a 3.924% APR.
The TN mortgage interest rates, points and APRs listed are based on a home purchase with a 20% down payment on a single family property for borrowers with an excellent credit history. The actual TN mortgage rates and APRs will be based on the borrower’s credit history, income and assets as well as the property location and value.
Mortgage rates in TN listed are current as of this publication date but are not guaranteed. All mortgage loans are subject to bank lender approval and conditions.
The banks listed offer a variety of loan options to choose from including fixed rate mortgages in Tennessee and adjustable rate mortgages.
Home Federal Bank can be reached at 865-691-0935
Wilson Bank and Trust can be reached at 615-444-2824
Bank of America mortgage department is available at 1-888-233-4124
Chase Mortgage representatives can be reached at 1-800-873-6577