Tennessee mortgage calculator
Estimate your monthly mortgage payment for a home in Tennessee, United States. Adjust the home price, down payment, rate, and term below for an instant breakdown. The calculator starts with the Tennessee average effective property-tax rate of 0.52% (among the lower in the U.S.), though your county rate may differ. Tennessee also has no state income tax, worth weighing alongside your monthly housing payment when comparing overall cost of living.
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Tennessee mortgage inputs
Enter your gross monthly income above to see an affordability read (based on the standard 28% front-end DTI guideline).
Loan amount: $320,000
Default rate (6.55%, 30-year fixed) is the United States national average as of 2026-07-16 — edit it to match your own quote.
How much is a monthly mortgage payment in Tennessee?
Here's a worked example for Tennessee. On a $400,000 home with 20% down ($80,000), you'd borrow $320,000. At a 6.55% 30-year fixed rate — the current U.S. national average — the principal and interest come to about $2,033 per month. Adding Tennessee's average effective property tax of 0.52% ($2,080 a year, or $173 a month) brings the core housing cost to roughly $2,206 per month, before home insurance and any HOA dues. Enter your own price, down payment, and rate in the calculator above to get your exact number.
Property taxes in Tennessee
Tennessee's average effective property-tax rate is 0.52%, which is below the U.S. average of 0.90% and ranks among the lower of all states. On the $400,000 example home that's $2,080 per year. Rates are set locally, so your actual county or city rate can differ — check your county assessor's site and adjust the property-tax field above to match. Tennessee also levies no state income tax, which can meaningfully change how much home you can afford compared with a high-income-tax state at the same salary.
The levers that move this number — deposit size and PMI, rate shopping, insurance, HOA dues — work the same way everywhere. We cover them properly in how mortgage payments work and down payment & PMI rather than repeating them on every state page.
How much house can you afford in Tennessee?
Applying the 28% affordability guideline at a 6.55% 30-year fixed rate with 20% down, against Tennessee's 0.52% average property-tax rate:
| Gross annual income | Max monthly payment (28%) | Est. affordable home price |
|---|---|---|
| $75,000 | $1,750 | $317,000 |
| $100,000 | $2,333 | $423,000 |
| $150,000 | $3,500 | $634,000 |
| $200,000 | $4,667 | $846,000 |
Illustrative only — excludes insurance, HOA, and your other monthly debts. Enter your own income above for a personalised read.
Conforming loan limits in Tennessee — when you cross into jumbo
Limits are set county by county, not state by state. For 2026 the national baseline is $832,750; above your county's limit you're into jumbo territory.
Tennessee is a state where this genuinely varies: 14 of its 95 counties carry a high-cost limit above the $832,750 baseline, topping out at $1,029,250. The rest of the state sits at the baseline. That means two buyers in Tennessee borrowing identical amounts can land on opposite sides of the jumbo line depending only on which county the property is in — worth checking before you assume your rate.
| County | 2026 one-unit limit |
|---|---|
| Cannon County | $1,029,250 |
| Cheatham County | $1,029,250 |
| Davidson County | $1,029,250 |
| Dickson County | $1,029,250 |
| Hickman County | $1,029,250 |
Showing the 5 highest of 14 Tennessee counties above the baseline.
Source: FHFA conforming loan limit values, 2026 limit values, announced 2025-11-25 (retrieved 2026-08-15). Limits are reset each November for the following year — see our methodology.
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Frequently asked questions
Is property tax the same everywhere in Tennessee?
No — property tax rates vary by county and even by city within Tennessee. The calculator starts from Tennessee's statewide average effective rate of 0.52%, so check your local assessor's site for your exact county rate and adjust the field to match.
What's the conforming loan limit in Tennessee?
It depends on the county. 14 of Tennessee's 95 counties are designated high-cost, running up to $1,029,250, while the rest use the $832,750 national baseline.
Does Tennessee having no state income tax affect what I can afford?
It affects your take-home pay rather than the mortgage itself. The affordability table above works from gross income, so at the same salary a Tennessee buyer keeps more of it than someone in a high-income-tax state — which in practice supports a larger monthly payment than the gross-income maths alone suggests.