Cocke County, Tennessee
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1 Platform, 6 Refinance Alerts
01
Alert for Lower Rates
02
Alert for Cash Out
03
Alert for Shorter Term
04
Alert for Eliminating PMI
05
Alert for Product Changes
06
Alert for Changes in Home Value
Cocke Real Estate Market Update
The real estate market in Cocke County, Tennessee, is currently a buyer's market, with the median home sold price at $252,500 as of October 2024, reflecting a 6.4% increase from the previous year. Homes in the county have a median price per square foot of $177, and the market has seen a decrease in the number of homes for sale by 14.4% from the previous month.
Cocke County includes several notable cities, with Newport being the largest, serving as the county seat and a central hub for commerce and culture. Other significant towns include Parrottsville and Cosby, which are known for their small-town charm and proximity to natural attractions like the Great Smoky Mountains. These towns contribute to the county's overall rural character while offering a glimpse into local life and community spirit.
Living in Cocke County offers a predominantly rural lifestyle, with a mix of agricultural and suburban areas. The county's economy is supported by industries such as agriculture, manufacturing, and tourism, particularly due to its proximity to the Great Smoky Mountains National Park. People are drawn to Cocke County for its scenic landscapes, affordable housing, and the appeal of a quieter, more relaxed lifestyle compared to urban centers. The migration patterns suggest a growing interest in rural living, driven by the desire for more space and a connection to nature.
2025 Mortgage Loan Limits:
Cocke County, Tennessee
1 Unit
$806,500
Conforming Loans
$524,225
FHA Loans
2 Unit
$1,032,650
Conforming Loans
$671,200
FHA Loans
3 Unit
$1,248,150
Conforming Loans
$811,275
FHA Loans
4 Unit
$1,551,250
Conforming Loans
$1,008,300
FHA Loans
Questions About Refinancing in
Cocke County
What is mortgage refinancing?
Refinancing is the process of replacing your current mortgage with a new one, often to secure a lower interest rate or change the loan terms.When should I consider refinancing?
Consider refinancing when interest rates drop, your credit score improves, or you want to switch from an adjustable-rate to a fixed-rate mortgage.How much does it cost to refinance?
Refinancing costs typically range from 2% to 5% of the loan amount, including closing fees, appraisal, and title fees.How long does the refinancing process take?
The refinancing process usually takes between 30 to 45 days, but this can vary based on lender efficiency and document preparation.What are the benefits of refinancing?
Refinancing can lower your monthly payments, reduce interest rates, shorten loan terms, or allow you to tap into home equity.What is cash-out refinancing?
Cash-out refinancing allows you to take out a new loan for more than your current mortgage balance and receive the difference in cash.Will refinancing hurt my credit?
Refinancing may cause a temporary dip in your credit score due to the hard inquiry, but the impact is usually minor and short-term.Can I refinance with bad credit?
It may be harder to qualify, but some lenders offer refinancing options for people with lower credit scores, though they often come with higher interest rates.How much equity do I need to refinance?
Most lenders require you to have at least 20% equity in your home to qualify for refinancing, though some programs may allow for lower equity percentages.Is it possible to refinance a rental property?
Yes, you can refinance an investment or rental property, though the terms and interest rates may be different compared to refinancing a primary residence.
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