Mortgage Refinansing Help

Mortgage Refinancing Help: Tennessee

“Fees are a hidden cost of many mortgage loans. By law, lenders must disclose fees within three days of a loan application. Fees can go by many names like - document prep fees, courier fees, administrative fees, and more. ”

Mortgage Refinancing Help : Business: Financial Services: Banking Services: Credit Unions: Regional: United States : Tennessee (33)

If you are making payments on a long term loan, say, 30 year mortgage for the past 10 to 20 years, then refinancing to another 30 year loan will not be a good option as it may increase your overall payment.

See also:

Tennessee Teachers Credit Union »
Nashville. Membership is open to anyone employed in the field of education in Tennessee.

Tennessee Valley Federal Credit Union »
Chattanooga. Offers checking and savings accounts, loans, and other financial products and services.

Volunteer Corporate Credit Union »
Brentwood.

Memphis Area Teachers Credit Union »
Information about loans and accounts; access to online services.

First Choice Community Credit Union »
Offers services to people who live or work in Blount, Jefferson, Knox or Sevier County. Includes history, details of services, and hours and addresses for locations in Knoxville, Mascot, Alcoa, and Pigeon Forge.

Employment Security Credit Union »
Nashville. For employees of the Tennessee Department of Labor and Workforce Development, the Department of Commerce and Insurance, or have an immediate family member who belongs to the credit union.

Postal Employees Credit Union »
Memphis.

Lowland Credit Union »
Morristown.

Johnson City Federal Credit Union »
Johnson City. Membership is open to select employer groups.

Kimberly Clark Credit Union »
Memphis.

Knoxville TVA Employees Credit Union »
Offices in Knoxville, Maryville, Kingston, Sevierville, Morristown, and Kingsport.

PIAS Credit Union »
Nashville.

EPB Employees Credit Union »
Chattanooga. Membership is open to employees and family of EPB.

Knoxville Post Office Credit Union »
Includes history, membership qualifications, branch locations, other information, and online financial services.

ORNL Federal Credit Union »
Oak Ridge. Community credit union chartered to serve people who live, work, worship, or attend school in 16 counties of central East Tennessee. Locations, hours, institutional information, current rates, online banking, and other topics.

Consumer Credit Union »
Greeneville-based institution describes services available to people who live, work, worship or attend school in Greene, Hamblen, Jefferson, Claiborne, Cocke or Hancock Counties.

F.A.A. Federal Credit Union »
Memphis. Offers loans and accounts; provides access to online services.

Baptist Hospital Credit Union »
Nashville. Membership is open to select employer groups.

Old Hickory Credit Union »
Community credit union open to people who live or work in Davidson, Sumner, Robertson, or Wilson Counties or in the communities of Smyrna and LaVergne. Look up information on products, services, rates, and fees, reorder checks, or apply for a loan.

Federal Express Credit Association Federal Credit Union »
Memphis.

Tennessee Members 1st Credit Union »
Oak Ridge. Locations, hours, information about accounts and loans, institutional history, and other information.

EPCO Credit Union »
Serves certain Middle Tennessee employee groups and retirees, from locations in Shelbyville and Lewisburg. Includes business history, locations and hours, descriptions of products and services, current interest rates, and other information.

LifeWay Credit Union »
Nashville. Serves the employees of LifeWay Christian Resources and Nashville-area Southern Baptist Church staff.

Cornerstone Financial Credit Union »
Nashville.

Tennessee Telco Credit Union »
Nashville.

Vanderbilt University Employees Credit Union »
Nashville. Serves the faculty and staff of Vanderbilt University and its Medical Center. Information about membership, services, rates, and fees.

Family Advantage Federal Credit Union »
Spring Hill. Serves Saturn employees and retirees, supplier company employees, retirees of the union local, and city employees.

Greater Eastern Credit Union »
Providing financial services to residents and employees of Washington, Carter and Unicoi Counties.

Chattanooga Federal Employees Credit Union »
Open to government and postal employees and their families. History, membership information, and details of financial services offered.

UT Federal Credit Union »
Offers financial services to members of the University of Tennessee community around the state, as well as anyone who lives, works, worships, or attends school in Knox, Anderson, Blount, Loudon and Union counties.

First South Credit Union »
Memphis. Offers checking accounts, savings and investment plans, health savings accounts, loans and insurance products. Includes branch locations and hours.

Y-12 Federal Credit Union »
Oak Ridge. Information about loans, accounts, and other services.

There is no such limit on the number of times you can go for home refinance loans. Most lenders prefer that you have no late payment for the past 12 months before you switch over to a new loan.

There is a refinancing myth that says you should not refinance your mortgage unless your interest rate will be at least two points less. This myth is not necessarily true if there are other benefits to the refinance or other reasons behind it.

If you want to make sure the interest rate your lender offers you is the rate you get when you close the loan, ask about a mortgage lock-in (also called a rate lock or rate commitment). Any lock-in promise should be in writing. Make sure your lender explains any costs or obligations before you sign.

If you are able to get a lower rate that what you currently have, you can save tens of thousands of dollars over the life of your loan. Also, most lenders don't charge as many fees to refinance a mortgage and depending on how much equity you have in your home you may be able to roll the closing costs into your new loan, still have a lower balance than your original loan, a lower rate, and a lower payment.