Johnson 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
Johnson Real Estate Market Update
The real estate market in Johnson County, Tennessee, is currently characterized as a buyer's market, with the median home sold price at $275,000 as of October 2024. This represents a 3.1% increase from the previous year, with homes selling at an average price of $167 per square foot. The market conditions suggest that homes are staying on the market longer, providing potential buyers with more negotiating power.
Johnson County encompasses several small towns and communities, with Mountain City being the largest and serving as the county seat. Mountain City has a population of approximately 2,500 residents. Other notable areas include Butler and Shady Valley, which are known for their scenic landscapes and rural charm. These communities contribute to the county's overall rural and small-town atmosphere, attracting those looking for a quieter lifestyle.
Living in Johnson County offers a predominantly rural experience, with agriculture playing a significant role in the local economy. The county is known for its farming and agricultural activities, alongside some suburban development in areas closer to Mountain City. The top industries include agriculture, manufacturing, and tourism, with the latter driven by the county's natural beauty and outdoor recreational opportunities. People may be moving to Johnson County for its affordable real estate, peaceful rural environment, and the appeal of a close-knit community lifestyle.
2025 Mortgage Loan Limits:
Johnson 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
Johnson 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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