Tennessee
Cash-Out Refinance in Tennessee
One new first mortgage, with cash out. I am licensed in Tennessee and I shop this across 175+ lenders.
A cash-out refinance replaces your first mortgage with a bigger one and hands you the difference. Sometimes that is the right move. Often it is not, and the reason is the rate you already have.
The question nobody asks first
If your current first mortgage is at 3%, replacing it means every dollar you already borrowed reprices to today's rate. That is usually a worse deal than leaving it alone and taking a second lien behind it.
If your current rate is close to today's, a cash-out can be the cheaper answer: one payment, one lien, and a fixed rate on the whole balance.
I run both before I recommend either.
The numbers here
Median ZIP value in Tennessee is $270,768. Most cash-out refinances cap at 80% of value, so at the median that is a maximum loan near $216,614, minus whatever you still owe.
VA cash-out can go higher than 80% for eligible borrowers.
What it costs
Closing costs run on the whole new loan, not just the cash you take. That is the part that surprises people. On a $216,614 loan those costs are meaningful, and they are the reason a smaller second lien sometimes wins even at a higher rate.
Where this sits in Tennessee
Median ZIP value across Tennessee is $270,768 across 587 ZIP codes. The cheaper tenth of ZIPs run near $164,489 and the top tenth near $442,824. That spread matters: the same program behaves very differently at $164,489 than it does at $442,824.
| Largest metro | Median value | ZIP codes |
|---|---|---|
| Nashville-Davidson--Murfreesboro--Franklin | $409,169 | 102 |
| Knoxville | $330,708 | 67 |
| Memphis | $254,236 | 47 |
| Chattanooga | $321,213 | 36 |
| Jackson | $183,159 | 27 |
Zillow public home value index, as of 2026-08-31. Market data, not an appraisal of your property and not a quote.
More detail on the program itself is on my cash-out refinance page, and the rest of what I write in the state is on the Tennessee mortgage broker page.
Get a free rate quote.
No application. No credit pull. A written comparison across 175+ lenders, with the APR on each.
Let's look at your numbers
Questions people ask
Do you write cash-out refinance in Tennessee?
Yes. I am licensed in Tennessee under NMLS #487617 and I shop this program across 175+ lenders rather than offering one lender's version of it.
What is the median home value in Tennessee?
About $270,768 across 587 ZIP codes, from Zillow's public home value index as of 2026-08-31. Your own ZIP may be well above or below that.
How do I start?
Send me your numbers or book fifteen minutes. No credit is pulled to start and there is no application to get a comparison.
Do I need to live in Tennessee to use this?
No. The property has to be in a state I am licensed in. Where you live does not matter, and a good share of my Tennessee files are for people who live somewhere else.
How many lenders do you actually compare?
175+. A bank can only offer its own product, so if you do not fit it you hear no. I put the ones that fit side by side with the APR on each, and if your current deal already wins I will tell you.
What does it cost to talk to you?
Nothing. I am paid when a loan closes and the compensation is disclosed on your Loan Estimate. If the answer is to keep what you have, it cost you fifteen minutes.
Let’s look at your numbers
Fifteen minutes. Your real numbers. No pressure.
Call or text my cell, or book a time. You’ll get a written comparison with real terms and an APR on every option, and if your current deal already wins, I’ll tell you.