Jumbo Loans Quotes in Tennessee [TN]

Jumbo Loans in Tennessee

It would be inaccurate to rate Tennessee as a high-cost state as far as real estate is concerned. It actually ranks 20th in the list of the cheapest states to buy a home in. With an average listing price of $262,433, it is in fact, a very affordable place to settle. That alone should be a major selling point if you are thinking of buying a home in the Volunteer State.

That said, there are certain counties where a conforming loan will not be enough to finance a home purchase. They include Williamson and Davidson where the average listing price is above the set limit for conforming loans. Even within a county with a lower average listing price, you can still get homes whose prices are way above what a conforming loan can finance. In that case, your best option is to take out a jumbo mortgage.

Simply put, a jumbo loan is a home loan whose amount exceeds the loan limit set by Fannie Mae and Freddie Mac. It makes it possible for homebuyers to acquire high-cost homes using just one mortgage loan rather than taking two different loans. Jumbo loans in Tennessee are very popular among homebuyers because lenders have attractive packages that come with low-interest rates, relaxed lending terms and tons of other benefits. Read on and learn more about these benefits and how to take advantage of them. We have also discussed plenty of important information about jumbo loans to help you understand why you might need to consider them and what to expect.

If you are interested in taking out a Tennessee jumbo loan talk to us today and we will help. At HomeRate Mortgage we eliminate the plenty of paperwork and legwork that comes with a mortgage application by allowing homebuyers to apply directly through our website. Take advantage of our exclusive jumbo mortgage deals today.


Tennessee County Mortgage Service Areas