Loan Estimate Challenges
Tennessee’s Biggest LE Challenges

Home to The Grand Ole Opry, the longest running radio show in the world for any genre, Tennessee is also the birthplace of cotton candy, Mountain Dew and the Moon Pie.

Recording Fees 

Recording fees are consistently priced statewide in Tennessee. The first three pages of the document are assessed at a flat rate, which scales upward for each page thereafter. 

Mortgage Taxes

The first $2,000 of the mortgage amount for the property in the transaction is exempt from the mortgage tax in Tennessee. If there is any modification involved (e.g. if the document being recorded is a refinance offering an improved interest rate or adjusting a term), Tennessee’s mortgage tax only applies to “new money.”

There is also a statewide mortgage tax, which is uniform in pricing.

Title Insurance

Tennessee is divided into multiple zones for purposes of determining title insurance rates. While these groupings are comprised, for the most part, of two or three counties, Shelby County has its own title insurance rate.