Memphis Tennessee Home Mortgage
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Tennessee Mortgage
PRODUCT +/- Rate Last week
30 year fixed Graph Icon Arrow 4.09% 4.16%
15 year fixed Graph Icon Arrow 3.25% 3.30%
5/1 ARM Graph Icon Arrow 3.28% 3.36%

 Rate disclaimer

PRODUCT +/- Rate Last week
30 year fixed refi Graph Icon Arrow 4.09% 4.17%
15 year fixed refi Graph Icon Arrow 3.25% 3.34%
10 year fixed refi Graph Icon Arrow 3.15% 3.18%
PRODUCT +/- Rate Last week
60 month used car loan Graph Icon Arrow 3.20% 3.20%
48 month used car loan Graph Icon Arrow 3.18% 3.19%
60 month new car loan Graph Icon Arrow 3.44% 3.44%
PRODUCT +/- Yield Last week
6 Month CD Graph Icon Arrow 0.75% 0.71%
1 Year CD Graph Icon Arrow 1.24% 1.24%
2 Year CD Graph Icon Arrow 1.41% 1.41%
MMA and SAVINGS 0.58%
$10k MMA 0.57%
Interest Checking 0.43%

Mortgage Brokers & Lenders Directory

You can search our directory or Mortage Brokers & Lenders and get a current quote on 30 year fixed mortgage rates as well as current mortgage interest rate for other loan programs.

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Mortgage Terms for Memphis, Tennessee

If you live in Memphis, Tennessee and are purchasing a home or a piece of property to rent out, keeping abreast of what a mortgage actually entails will allow you to make an informed decision.

What is a Mortgage Loan?

A mortgage loan is a loan that is acquired through property via a mortgage note. This note is proof of the existence of the loan. The term ‘mortgage’ is actually a French law which entails that the owner is liable to pay the amount that he/she borrows at the end of the designated time period.

A home purchaser or a builder can also acquire financing from financial firms or institutions like a bank or a reputable credit union. This can be done in person or through intermediaries. The prospective owner should also keep in mind that the size of the loan, its maturity, interest rate, payment method and other factors may differ state to state. However, the following basic characteristics tend to remain the same:

Property – As the name says, this is the physical residence that is under consideration for purchase. The loan amount that can be taken out may vary depending on the locality and country.

Borrower – The individual who is taking out the loan for the property or creating an ownership interest for it.

Lender – This can either be an individual, a financial enterprise or a group of investors who possess an interest in the mortgage. In such cases, the first or original lender of the loan is also known as a mortgage originator who then forwards the loan package to potential investors. A loan servicer then collects payments from the borrower.

Principal – This is the initial size of the loan that may have other charges.

Whether home owners need to purchase a home, need home loans, don’t know what current mortgage rates are or need help with their monthly mortgage payments, will not let them down. Our mortgage calculators are designed to provide accurate mortgage sums that will keep property owners satisfied with their monthly payments.





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