Tennessee Trust Mortgage Interest Rate and Cost Review

Is Tennessee Trust Mortgage a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Tennessee Trust Mortgage to those of other lenders for a comparable set of borrowers. Here is our review of Tennessee Trust Mortgage nationally:

Review ItemTennessee Trust Mortgage
Interest Ratesimilar to other lenders (-0.01%)
Loan Related Closing Costssimilar to other lenders (-$19)
National Rate and Closing Cost Star Rating(3.5)

On average, Tennessee Trust Mortgage’s interest rates were similar to those of other lenders (-0.01%). Its loan related closing costs were also similar to those of other lenders, with a difference of -$19. Overall, combining interest rates and closing costs we estimate that Tennessee Trust Mortgage tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3.5 out of 5 stars.

We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Tennessee Trust Mortgage, check out its website at: http://www.tntrustmtg.com.

Tennessee Trust Mortgage’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders in your area, click here. In particular, among the cities we track Tennessee Trust Mortgage was most active in:

  1. Nashville, TN
  2. Dickson, TN
  3. Clarksville, TN
  4. Columbia, TN
  5. Memphis, TN

Tennessee Trust Mortgage’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Tennessee Trust Mortgage originated Conforming, FHA and USDA mortgages for new home purchases. It also originated Conforming and FHA mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.

Purchase/Refinance:
New Purchase MortgagesConformingFHAUSDA
Interest Rate Difference+0.05%+0.01%-0.00%
Loan Related Closing Cost Difference+$46-$34-$9
Cost Adjusted Rate Difference+0.06%+0.00%-0.00%
National Star Rating(3)(3.5)(3.5)
Refinance MortgagesConformingFHA
Interest Rate Difference-0.05%-0.01%
Loan Related Closing Cost Difference+$15-$164
Cost Adjusted Rate Difference-0.05%-0.03%
Average Star Rating(4)(3.5)

As a summary, Tennessee Trust Mortgage is similar to other lenders for FHA and USDA purchase mortgages. It is more expensive than other lenders for Conforming purchase mortgages. For refinancing mortgages, Tennessee Trust Mortgage is cheap for Conforming mortgage refinance. It is similar to other lenders for FHA mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about Tennessee Trust Mortgage:

Registered name: Tennessee Trust Mortgage Inc
Registered city and state: Pleasant View, TN, 37146
Regulator: Consumer Financial Protection Bureau (CFPB)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Tennessee Trust Mortgage’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.