As a home-buyer, you have an exciting journey ahead! We know securing financing for your home and navigating the housing market can be a complex task. Knoxville TVA Employees Credit Union wants your home purchase to be a rewarding experience, and we're here to help any way we can. 

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What you will need to start your application:

Fixed-Rate

There are many types of home loans available, but fixed-rate loans remain the most popular among homebuyers because of the stability it provides. The most common terms for fixed-rate loans are 15 and 30 years, but other terms are available. 

• Interest rate and monthly principal and interest (P&I) remain the same for the life of the loan
• Variety of terms available
• Predictable monthly payments make budgeting simple
• Protection from possible rising interest rates for the life of the loan
• May be a good choice if you plan to stay in your home for a longer period of time

Adjustable-Rate

Life sometimes takes you to new places. An adjustable-rate mortgage can help you stay flexible!

• Interest rates and monthly principal and interest (P&I) payments stay the same for defined period of time, then may increase or decrease for remainder of the loan
• Variety of terms available
• Typically offer a lower initial interest rate
• Includes an interest rate cap limiting the maximum amount your P&I can increase 
• May provide flexibility if you expect future income growth or plan to move in the near future

Loan Options