Tennessee Mortgage Calculator (2026)

Rates as of Oct 22 2026 · county tax data: ACS 2020–2024, released 2026-01-29

Statewide avg. effective tax rate
0.5%
Median home value
$417,000
Home insurance (est.)
$2,000/yr

Estimated PITI at the Tennessee median home price of $417,000, 20% down, 30-year fixed at 7.32%: $2,667/mo. The tax line uses Davidson County (Nashville)'s effective rate of 0.6% and insurance of $2,000/yr — the calculator's default county. Buyer's transfer tax: usually paid by seller (0.37%).

Payment calculator

Loan type
$
%
$83,400 cash
%
30-yr fixed base 7.32% · credit adj +0.00% → 7.32% · PMMS Oct 22 2026
Loan term
Credit score
sets local tax & insurance
Picking a county updates the local property tax rate and insurance estimate — your home price stays as entered.
Advanced — HOA & extra payments
$
$
Estimated monthly payment
$2,666.77/mo
$2,667/mo
Principal & interest$2,291.60
Property tax$208.50
Home insurance$166.67
Covers principal & interest, property tax, insurance and mortgage insurance (when it applies). HOA counts only if entered above — left blank it is $0.
Loan amount$333,600
Down payment$83,400
LTV80%
Total interest$491,376
Payoff date…
Cash to close (estimate)
Down payment$83,400
Closing costs (2%–5%)$8,340 – $20,850
Est. cash needed$91,740 – $104,250
Transfer tax: 0.37%usually paid by seller
Tennessee puts the transfer tax on the seller, so it isn't part of your cash to close.
Using Davidson County (Nashville) effective rate 0.6% · insurance $2,000/yr
Amortization
Year 12
Principal paid
$58,928
Interest paid
$271,063
Still owed
$274,672
$500k$375k$250k$125k$0
08152330

All three lines are running totals since the loan started — not a breakdown of the monthly payment.

What local costs matter in Tennessee?

Effective property tax rate ~0.52%, among the lower states
Transfer tax $0.37/$100 (about 0.37%)
No state tax on wages (the Hall tax is gone)
Homestead exemption available for homeowners 65+
All 95 Tennessee counties — property tax rates
CountyEffective tax rateProperty tax /moInsurance (est.)
Davidson County (Nashville)0.6%$$209$2,000/yr
Shelby County (Memphis)0.98%$$341$2,100/yr
Knox County (Knoxville)0.43%$$149$1,850/yr
Hamilton County (Chattanooga)0.62%$$215$1,800/yr
Rutherford County (Murfreesboro)0.48%$$167$1,900/yr
Anderson County0.54%$$188$2,000/yr
Bedford County0.48%$$167$2,000/yr
Benton County0.48%$$167$2,000/yr
Bledsoe County0.36%$$125$2,000/yr
Blount County0.45%$$156$2,000/yr
Bradley County0.45%$$156$2,000/yr
Campbell County0.37%$$129$2,000/yr
Show all 95 counties
CountyEffective tax rateProperty tax /moInsurance (est.)
Cannon County0.43%$$149$2,000/yr
Carroll County0.58%$$202$2,000/yr
Carter County0.51%$$177$2,000/yr
Cheatham County0.47%$$163$2,000/yr
Chester County0.52%$$181$2,000/yr
Claiborne County0.49%$$170$2,000/yr
Clay County0.56%$$195$2,000/yr
Cocke County0.57%$$198$2,000/yr
Coffee County0.57%$$198$2,000/yr
Crockett County0.59%$$205$2,000/yr
Cumberland County0.29%$$101$2,000/yr
Decatur County0.46%$$160$2,000/yr
DeKalb County0.35%$$122$2,000/yr
Dickson County0.47%$$163$2,000/yr
Dyer County0.63%$$219$2,000/yr
Fayette County0.33%$$115$2,000/yr
Fentress County0.32%$$111$2,000/yr
Franklin County0.53%$$184$2,000/yr
Gibson County0.66%$$229$2,000/yr
Giles County0.42%$$146$2,000/yr
Grainger County0.48%$$167$2,000/yr
Greene County0.43%$$149$2,000/yr
Grundy County0.38%$$132$2,000/yr
Hamblen County0.41%$$142$2,000/yr
Hancock County0.45%$$156$2,000/yr
Hardeman County0.63%$$219$2,000/yr
Hardin County0.41%$$142$2,000/yr
Hawkins County0.54%$$188$2,000/yr
Haywood County0.62%$$215$2,000/yr
Henderson County0.48%$$167$2,000/yr
Henry County0.44%$$153$2,000/yr
Hickman County0.46%$$160$2,000/yr
Houston County0.54%$$188$2,000/yr
Humphreys County0.48%$$167$2,000/yr
Jackson County0.46%$$160$2,000/yr
Jefferson County0.43%$$149$2,000/yr
Johnson County0.4%$$139$2,000/yr
Lake County0.67%$$233$2,000/yr
Lauderdale County0.59%$$205$2,000/yr
Lawrence County0.53%$$184$2,000/yr
Lewis County0.48%$$167$2,000/yr
Lincoln County0.45%$$156$2,000/yr
Loudon County0.33%$$115$2,000/yr
Macon County0.39%$$136$2,000/yr
Madison County0.56%$$195$2,000/yr
Marion County0.43%$$149$2,000/yr
Marshall County0.48%$$167$2,000/yr
Maury County0.45%$$156$2,000/yr
McMinn County0.35%$$122$2,000/yr
McNairy County0.38%$$132$2,000/yr
Meigs County0.39%$$136$2,000/yr
Monroe County0.41%$$142$2,000/yr
Montgomery County0.61%$$212$2,000/yr
Moore County0.45%$$156$2,000/yr
Morgan County0.52%$$181$2,000/yr
Obion County0.52%$$181$2,000/yr
Overton County0.39%$$136$2,000/yr
Perry County0.53%$$184$2,000/yr
Pickett County0.41%$$142$2,000/yr
Polk County0.5%$$174$2,000/yr
Putnam County0.48%$$167$2,000/yr
Rhea County0.43%$$149$2,000/yr
Roane County0.53%$$184$2,000/yr
Robertson County0.47%$$163$2,000/yr
Scott County0.51%$$177$2,000/yr
Sequatchie County0.45%$$156$2,000/yr
Sevier County0.28%$$97$2,000/yr
Smith County0.47%$$163$2,000/yr
Stewart County0.46%$$160$2,000/yr
Sullivan County0.58%$$202$2,000/yr
Sumner County0.51%$$177$2,000/yr
Tipton County0.5%$$174$2,000/yr
Trousdale County0.35%$$122$2,000/yr
Unicoi County0.52%$$181$2,000/yr
Union County0.37%$$129$2,000/yr
Van Buren County0.44%$$153$2,000/yr
Warren County0.42%$$146$2,000/yr
Washington County0.52%$$181$2,000/yr
Wayne County0.49%$$170$2,000/yr
Weakley County0.48%$$167$2,000/yr
White County0.4%$$139$2,000/yr
Williamson County0.4%$$139$2,000/yr
Wilson County0.42%$$146$2,000/yr
Tennessee state average0.5%$$174$2,000/yr
Monthly tax is estimated on a $417,000 home — the price in the calculator above. Effective rates — U.S. Census Bureau, ACS 2024 (5-yr).

† Rates marked with ≥ are conservative estimates. ACS suppresses median tax values above $10,001 for privacy, which makes the calculated rate a lower bound — the true rate is higher in Manhattan, parts of Long Island, northern New Jersey and other high-cost areas.

How Tennessee compares

Tennessee's statewide average effective rate is 0.5% — the 43rd highest of the 51 covered here (the 50 states and DC), against a median of 0.8%. On the $417,000 home the calculator starts with, that is about $174 a month in property tax before any other cost. Property taxes by state ranks all 51 with median bills attached.

A state average hides the part that changes the bill. The county rows above run from 0.28% in Sevier County to 0.98% in Shelby County (Memphis) — roughly $243 a month apart on the same $417,000 home. That is why the county picker moves the payment more than the state picker does.

Insurance is the other line that follows the address: this page prices $2,000 a year as a state-level estimate, and home insurance by state covers how premiums are set and where they run highest. Below 20% down, PMI adds a third variable until the balance is back to 80% of the value.

The states nearest Tennessee in the ranking are Utah (0.52%) and Idaho (0.49%).

Tennessee mortgage FAQ

How much down payment do I need to buy a house in Tennessee?

Conventional loans start at 3% down, but anything under 20% requires PMI until you reach 20% equity — PMI auto-cancels at 78% of the original home value under the Homeowners Protection Act. FHA loans start at 3.5% down, and VA / USDA loans offer 0% down for eligible borrowers. Those are the national minimums: a lender can set a higher floor for this state or for a given loan size.

Why do property taxes vary so much within Tennessee?

Property taxes are layered by county, city and school district, so the effective rate differs block by block. The Tennessee state average is about 0.5%, but counties in our table above range widely — always confirm the exact bill with the local County Assessor.

When does PMI go away?

Under the Homeowners Protection Act (1998) you can request PMI removal at 80% LTV, and lenders must automatically cancel it when the balance reaches 78% of the original home value. This calculator estimates that month for you and shows the lower payment after PMI drops.

Does this calculator include home insurance for Tennessee?

Yes. The calculator pre-fills a typical Tennessee premium of about $2,000 per year and updates it when you switch counties. Tornadoes and severe thunderstorms drive claims, and West Tennessee's proximity to the New Madrid fault means earthquake coverage requires an endorsement. Get real quotes before budgeting.

More free mortgage tools

affordability calculator — how much house can I afford →refinance calculator — break-even & savings →closing cost calculator — cash to close by state →
Sources

Freddie MacU.S. Census BureauFannie MaeU.S. Department of Housing and Urban Development (HUD)U.S. Department of Veterans AffairsPrivate mortgage insurersNAICState statutes and departments of revenue

Results are estimates for planning only and are not a loan approval. Property tax rates and insurance premiums vary by county, ZIP code, home age and coverage — confirm with the local County Assessor and insurer quotes. Rate default: Freddie Mac PMMS 30-yr fixed (7.32%, Oct 22 2026); the 20-yr default is an estimate derived from the PMMS 30-yr/15-yr spread (PMMS has no 20-yr series). Conventional credit pricing adds Fannie Mae loan-level price adjustments (effective 2026-10-01) on top of that base, anchored at the 740–759 tier, and PMI comes off a credit × LTV rate card — both are central estimates, not quotes. Loan minimums shown here are the national programs' floor; a lender may set a higher down payment, rate or fee for this state or this loan.