Home Refinance - Knoxville TVA Employees Credit Union

Why Refinance?

Refinancing a home loan is when you get a new home loan ¹ , ² or mortgage loan ¹ , ² to replace your current one. The most common reasons to refinance a home loan are:

Lower monthly payments
Lower interest rate
Update term of the loan (30-year, 15-year)
New loan type, like removing the PMI option from a current loan
Cash-out home equity

How Does It Work?

When you refinance your existing mortgage loan, you follow similar steps as if you were applying for a new home loan. However, instead of using the loan to fund the purchase of a new home, loan funds are used to pay off your existing mortgage. Refinancing typically helps you save money.

When it comes to refinancing, you have options. Our Home Loan Officers help you find a rate and loan term that best matches your refinancing goals.

Meet Your Loan Officer!

Whether you want to purchase a new home, refinance, or use your home's equity, we provide one-on-one support to help you make the best decision for YOU. We're here every step of the way, so you don't have to plan alone. We're more than just experts – we're your neighbors who care! We take the time to understand your unique goals and answer all your home loan questions.

Ready to get started? Connect with a friendly Real Estate Officer today!

For a personalized rate and payment quote, please give us a call at (865)544-5409 or email homeloans@tvacreditunion.com.

MEET OUR TEAM

30-Year Fixed-Rate Mortgage

Effective 06-09-2025
Interest rates as low as...
6.500% ³
APR as low as 6.730%

A fixed-rate mortgage loan of $200,000.00 for 30 years at 6.500% interest and 6.730% APR will have a monthly payment of $1,264.14. Taxes and insurance not included; therefore, the actual payment obligation will be greater.

Lock In Rate

20-Year Fixed-Rate Mortgage

Effective 06-09-2025
Interest rates as low as...
6.000% ⁴
APR as low as 6.296%

A fixed-rate mortgage loan of $200,000.00 for 20 years at 6.000% interest and 6.296% APR will have a monthly payment of $1,432.86. Taxes and insurance not included; therefore, the actual payment obligation will be greater.

Lock In Rate

15-Year Fixed-Rate Mortgage

Effective 06-09-2025
Interest rates as low as...
5.500% ⁵
APR as low as 5.867%

A fixed-rate mortgage loan of $200,000.00 for 15 years at 5.500% interest and 5.867% APR will have a monthly payment of $1,634.17. Taxes and insurance not included; therefore, the actual payment obligation will be greater.

Lock In Rate

10-Year Fixed-Rate Mortgage

Effective 06-09-2025
Interest rates as low as...
5.375% ⁶
APR as low as 5.896%

A fixed-rate mortgage loan of $200,000.00 for 10 years at 5.375% interest and 5.896% APR will have a monthly payment of $2,158.16. Taxes and insurance not included; therefore, the actual payment obligation will be greater.

Lock In Rate

More Ways to Save
Refinancing your home with a new mortgage is a big decision. There are many reasons to refinance your home.

Lower Your Interest Rate
Reduce Monthly Payments
NEW Loan Term

Whatever the reason is, our Home Loan Officers are here to help you find the best Home Loan to replace your current mortgage loan!

GET STARTED

TALK TO OUR LOAN OFFICERS

COMPETITIVE RATES

In addition to our friendly Member service, we offer competitive rates. Explore our rates and get pre-qualified today!

NO PMI OPTIONS

While Private Mortgage Insurance offers lower down payments, you may not need it. Let us help you determine if it's for you.

What You Need For Your Application

Two forms of identification (including one photo ID)
Two-year work history
Most current pay stub (within last 30 days)
W-2s and tax returns (from the last two years)
Bank statements (from the last two months)
Address history (from the last two years)
Homeowner insurance company name and phone number
Sales contract (only for purchase loans)
Legal description of the property (Warranty Deed or Trust Deed)
Current mortgage statement (if applicable)
Most recent awards letter for Social Security and/or pension income (if applicable)

Error Resolution & Info Requests:

If you suspect an error in your statement or need additional information, please mail a written request to our mailing/payment address provided above. In your letter, provide the following:

Account Information - Your full name and account number.
Dollar Amount - The amount of the suspected error, if applicable.
Description of the Error or Information Requested - Describe the suspected error or the specific loan information that you are requesting.

Upon receipt of your letter, we will provide a written response within five (5) business days.

Disclosures

¹ APR = Annual Percentage Rate. Restrictions apply. Not a government-affiliated agency. All applications subject to underwriting guidelines and approval. Rates based on creditworthiness. Ask for details. Please note the interest rate and fees shown are available to borrowers with excellent credit history with loan-to-values up to 80% of the appraised value or sales price of the property, whichever is the least amount. If the loan-to-value is higher than 80%, please contact us for a rate quote. The actual interest rate and fees available to you may be different than the rates displayed. All interest rates and APRs shown are subject to change without notice.

² APR = Annual Percentage Rate. Restrictions may apply. Not a government-affiliated agency. All applications subject to underwriting guidelines and approval. Rates based on creditworthiness. Ask for details.

³ A fixed-rate mortgage loan of $200,000.00 for 30 years at 7.250% interest and 7.490% APR will have a monthly payment of $1,364.35. Taxes and insurance not included; therefore, the actual payment obligation will be greater.

⁴ A fixed-rate mortgage loan of $200,000.00 for 20 years at 7.000% interest and 7.308% APR will have a monthly payment of $1,550.60. Taxes and insurance not included; therefore, the actual payment obligation will be greater.

⁵ A fixed-rate mortgage loan of $200,000.00 for 15 years at 6.625% interest and 7.004% APR will have a monthly payment of $1,755.99. Taxes and insurance are not included; therefore, the actual payment obligation will be greater.

⁶ A fixed-rate mortgage loan of $200,000.00 for 10 years at 6.375% interest and 6.906% APR will have a monthly payment of $2,258.26. Taxes and insurance not included; therefore, the actual payment obligation will be greater.