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Tennessee Legislature Changes Formula For Mortgage Interest Rates
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Tennessee Legislature Changes Formula For Mortgage Interest Rates
Image Credit: Canva The Tennessee Conservative [By David Seal] – Lending institutions will be using a new formula to determine interest on home loans in the state of Tennessee as of July 1, 2025. Sponsoring legislators billed the proposed legislation as a means of opening the market to borrowers that wish to take out secondary loans with a payback period greater than 15 years. The text of the bill is more general to home loans, stating in part, …
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