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Tennessee Mortgage Calculator

Use this free Tennessee mortgage calculator to estimate your monthly mortgage payments and annual amortization.

Loan details

%

Monthly payment

$2,100

at 6.80% · 30-year fixed

  • Principal & interest

    $1,565

  • Property taxes

    $375

  • Homeowners insurance

    $160

Loan amount

$240,000

Total interest paid

$323,263

Payoff date

—

YOU'RE KEEPING $20,288

$20,288

stays in your pocket

That's your total savings over 30 years at today's best rate on NerdWallet (6.80%) vs. the 7.15% national average — $56 less every month.

  • Today's best rate: 6.80%

  • Get your free rate with no credit impact

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No impact to your credit score

Calculated payments and savings are estimates. The calculator result does not constitute an offer for a loan and will not solicit a loan offer. Savings will depend on the actual amounts and rate for which you are approved, should you choose to apply.

Getting a Mortgage in Tennessee

Written by 
,  Edited by 
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Last updated November 19, 2025
Housing affordability varies by location, and national averages don’t always reflect real-world costs for buyers. Comparing local mortgage costs with everyday living expenses can provide a more accurate view of affordability. NerdWallet’s cost of living calculator can help you compare how cities across Tennessee stack up.
Mortgage costs in Tennessee vary widely by location. While there are certainly affordable areas throughout the state, if you're looking to live in a more populous region — like the Nashville metro area — you may pay a bit more.
The typical monthly mortgage payment for a median-priced home in Davidson County was $2,747 in Q1 2025, based on a $468,632 home value, according to the National Association of Realtors. By comparison, the national median payment was $2,120 on a median-priced single-family home valued at $402,300.

Tennessee mortgage and refinance rates today (APR)

ProductInterest rateAPR
30-year fixed-rate7.278%7.281%
20-year fixed-rate7.157%7.166%
15-year fixed-rate6.471%6.478%
7-year ARM7.021%6.927%
5-year ARM6.792%6.762%
30-year fixed-rate FHA5.452%6.188%
30-year fixed-rate VA6.463%6.809%
Data source: ©Zillow, Inc. 2006 – 2026. Use is subject to the Terms of Use

Today's rate

7.281%

30-year fixed

Today's mortgage rates in Tennessee are 7.281% for a 30-year fixed, 6.478% for a 15-year fixed, and 6.762% for a 5-year adjustable-rate mortgage (ARM).

Tennessee's first-time home buyer programs

The Tennessee Housing Development Agency, or THDA, offers several loan programs to help qualified first-time home buyers get a mortgage.
» MORE: First-time home buyer programs by state

Average property tax by county

Taking U.S. Census data, NerdWallet has crunched the numbers to help you understand what property tax rate you can expect to pay on your future home in Tennessee. Because assessed values aren't frequently updated, you may pay a higher rate at first but eventually you'll pay a similar rate.

CountyAvg. property tax rateMedian home value
Anderson County0.67%$248,600
Bedford County0.59%$221,200
Benton County0.43%$112,000
Bledsoe County0.47%$153,700
Blount County0.56%$304,800
Bradley County0.51%$244,900
Campbell County0.40%$142,100
Cannon County0.49%$217,700
Carroll County0.55%$117,500
Carter County0.54%$145,000
Cheatham County0.53%$262,200
Chester County0.56%$136,700
Claiborne County0.46%$135,400
Clay County0.45%$132,500
Cocke County0.55%$137,000
Coffee County0.62%$203,400
Crockett County0.59%$127,000
Cumberland County0.34%$199,800
Davidson County0.62%$434,700
Decatur County0.47%$128,600
DeKalb County0.37%$183,100
Dickson County0.51%$243,800
Dyer County0.60%$148,900
Fayette County0.39%$282,600
Fentress County0.37%$137,000
Franklin County0.57%$192,400
Gibson County0.66%$130,900
Giles County0.50%$172,500
Grainger County0.41%$151,200
Greene County0.47%$190,500
Grundy County0.46%$126,400
Hamblen County0.45%$203,300
Hamilton County0.71%$302,800
Hancock County0.44%$112,600
Hardeman County0.63%$112,700
Hardin County0.47%$142,300
Hawkins County0.57%$153,800
Haywood County0.64%$116,900
Henderson County0.53%$139,600
Henry County0.44%$141,000
Hickman County0.48%$163,900
Houston County0.60%$149,200
Humphreys County0.47%$175,600
Jackson County0.47%$126,100
Jefferson County0.44%$183,800
Johnson County0.42%$156,400
Knox County0.52%$305,400
Lake County0.72%$111,900
Lauderdale County0.77%$110,800
Lawrence County0.52%$156,500
Lewis County0.37%$139,100
Lincoln County0.44%$186,300
Loudon County0.41%$263,800
Macon County0.33%$185,100
Madison County0.67%$197,400
Marion County0.47%$153,000
Marshall County0.53%$218,500
Maury County0.47%$352,000
McMinn County0.39%$173,300
McNairy County0.40%$125,400
Meigs County0.33%$163,000
Monroe County0.42%$174,800
Montgomery County0.66%$279,400
Moore County0.50%$256,700
Morgan County0.51%$133,000
Obion County0.58%$119,500
Overton County0.43%$156,000
Perry County0.50%$122,900
Pickett County0.11%$149,300
Polk County0.53%$128,200
Putnam County0.56%$292,500
Rhea County0.52%$155,800
Roane County0.64%$193,400
Robertson County0.53%$327,000
Rutherford County0.54%$387,100
Scott County0.55%$113,900
Sequatchie County0.49%$184,600
Sevier County0.36%$315,300
Shelby County1.12%$250,900
Smith County0.48%$200,500
Stewart County0.55%$163,700
Sullivan County0.65%$209,200
Sumner County0.54%$395,300
Tipton County0.57%$203,500
Trousdale County0.59%$217,400
Unicoi County0.58%$150,600
Union County0.33%$164,400
Van Buren County0.47%$132,700
Warren County0.49%$149,700
Washington County0.63%$258,900
Wayne County0.50%$129,000
Weakley County0.52%$123,100
White County0.41%$161,500
Williamson County0.43%$740,800
Wilson County0.47%$436,800
Source: American Communities Survey 2022, U.S. Census

How to use the mortgage calculator

To use our mortgage calculator, add your details to the following fields:
1. Home price: What you're hoping to spend on a home.
2. ZIP code: The home's location.
3. Down payment: How much cash you're paying upfront towards the home's price. This calculator defaults to showing a 20% down payment, but you can adjust it up or down by changing the dollar amount or the percentage. This calculator assumes you're using a conventional loan, so it will automatically add private mortgage insurance if the down payment amount is less than 20%.
4. Loan term: The default is 30 years, but you can also choose a shorter term.
5. Interest rate: Use today's average APR, enter the rate you've been quoted or use the lowest APR NerdWallet partners are offering today.
That's the least you can do. To get more accurate results, fill in the following four categories. (Estimates are fine, but this goes over how to get more specific numbers.)
6. Property taxes (per year): This is autofilled with an estimate, but property taxes vary tremendously throughout the country. Get more precise by looking up the tax rate where you're planning to buy or looking at the tax history for the home you're interested in. You can change the property tax amount by editing the dollar amount or the percentage.
7. Homeowners insurance (per year): Mortgage lenders require borrowers to have homeowners insurance. Not sure what you might pay? This calculator puts in an estimate, but you can use NerdWallet's home insurance calculator to fine-tune it. All you need to know is the property location and the rough amount you'd be looking to insure — use the home's price as a proxy.
8. HOA fees: If the home is part of a homeowners association, put the monthly dues here. (The calculator default is no HOA costs.) This is also information you can likely crib from a home's listing. One other note, if there are HOA fees but you're going to pay them directly rather than with an escrow account, you can omit them here.
9. PMI (monthly): If you've entered a down payment amount under 20%, this will autofill, since the calculator assumes you're using a conventional loan. PMI is tied to your credit score, so if you want a more accurate figure, pop over to NerdWallet's PMI calculator. If you're using a VA loan, you can zero this out, since VA loans do not require mortgage insurance. On the other hand, if you're getting an FHA loan, you'll have to pay mortgage insurance premiums regardless of your down payment amount. For more accurate payment info, use our FHA mortgage calculator.
The calculator's results will update as you adjust the numbers in these fields. The results show you the monthly payment, as well as:
  • Loan amount: How much you're actually borrowing in principal.
  • Total interest paid: How much interest you will pay over the life of the mortgage if you keep it until its term ends. (Most people sell or refinance well before that point, but it's still interesting info.)
  • Payoff date: If you kept the same loan for its entire term, here's the month and year when you'd own the home free and clear.
There's also a simple annual amortization schedule. Amortization shows how your mortgage payment changes over time. Even though the principal and interest payment doesn't change with a fixed-rate mortgage, the percentage of that payment that's going toward each component does. At the beginning of the loan, more goes toward interest; the closer to the end of the loan's term, the more of the payment goes toward principal. If you want a more detailed month-by-month look, yes, NerdWallet has an amortization calculator, too.
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CONSIDERING A REFI? If you're looking to see how much you could save by refinancing your mortgage, try NerdWallet's refinance calculator.
» MORE FOR CANADIAN READERS: Canada mortgage payment calculator