Tennessee SB0749 amends the maximum interest rate for home loans to four percentage points above the average prime offer rate, not exceeding 18% per.
Tennessee SB0749 modifies the interest rate cap on home loans, setting the maximum effective rate at four percentage points above the average prime offer rate for a thirty-year fixed loan, published by the Federal Financial Institutions Examination Council. The cap is set at a maximum of 18% per annum. This change takes effect on July 1, 2025.
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