Home and mortgage

Tennessee Mortgage Calculator

Your monthly mortgage payment in Tennessee, with Tennessee's effective property tax rate (0.50%) built in, at this week's average rate. The calculator starts at the state's median home value, $286,700.

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Home priceDown paymentInterest rateStarts at this week's national averageLoan termProperty taxA year, as a share of the price; about 1% is typical, varying widely by countyHome insurance a yearMortgage insurance (PMI)A year, on the loan, only below 20% downHOA dues a month

Monthly payment$1,842.36The answer

Monthly payment

$1,842.36

A $287,000 home with 20% down ($229,600 borrowed) at 7.18% over 30 years costs about $1,842 a month: $1,555 principal and interest plus $287 of tax, insurance and dues.

Principal and interest: $1,555.39
Tax, insurance, PMI and HOA: $286.97
Total interest over the loan: $330,341

Amortization by year: $229,600 at 7.18%

Year	Interest	Principal	Balance
1	$16,412.11	$2,252.57	$227,347.43
2	$16,244.94	$2,419.74	$224,927.69
3	$16,065.37	$2,599.31	$222,328.38
4	$15,872.48	$2,792.21	$219,536.17
5	$15,665.27	$2,999.42	$216,536.75
6	$15,442.68	$3,222.01	$213,314.74
7	$15,203.57	$3,461.11	$209,853.63
8	$14,946.72	$3,717.96	$206,135.67
9	$14,670.81	$3,993.88	$202,141.79
10	$14,374.42	$4,290.26	$197,851.53
11	$14,056.04	$4,608.65	$193,242.88
12	$13,714.03	$4,950.66	$188,292.22
13	$13,346.64	$5,318.05	$182,974.17
14	$12,951.98	$5,712.70	$177,261.47
15	$12,528.04	$6,136.65	$171,124.82
16	$12,072.63	$6,592.05	$164,532.76
17	$11,583.43	$7,081.25	$157,451.51
18	$11,057.93	$7,606.76	$149,844.76
19	$10,493.43	$8,171.26	$141,673.50
20	$9,887.03	$8,777.65	$132,895.85
21	$9,235.64	$9,429.05	$123,466.80
22	$8,535.90	$10,128.78	$113,338.02
23	$7,784.24	$10,880.44	$102,457.57
24	$6,976.80	$11,687.89	$90,769.68
25	$6,109.43	$12,555.25	$78,214.43
26	$5,177.70	$13,486.99	$64,727.44
27	$4,176.82	$14,487.86	$50,239.58
28	$3,101.67	$15,563.02	$34,676.56
29	$1,946.73	$16,717.96	$17,958.61
30	$706.08	$17,958.61	$0.00

Download the schedule (CSV)

This week's mortgage rates

Monthly payment in Tennessee by home price (20% down, 7%, 30 years, 0.50% tax, $2,000 insurance)

Home price	Principal and interest	Property tax	Total
$140,000	$745	$59	$970
$220,000	$1,171	$92	$1,430
$290,000	$1,544	$122	$1,832
$430,000	$2,289	$180	$2,636
$570,000	$3,034	$239	$3,439

How this calculator works

As the mortgage calculator, with Tennessee's effective property tax rate from the Census Bureau's American Community Survey 2020–2024 5-year estimates: median taxes $1,442 ÷ median value $286,700.

Questions people ask

What is the mortgage payment on a median home in Tennessee?

On $286,700 with 20% down at 7% over 30 years: about $1,526 principal and interest and $120 of property tax, $1,813 a month with $2,000 a year of insurance.

What is the median home value in Tennessee?

$286,700 for owner-occupied homes (Census American Community Survey 2020–2024 5-year estimates), against $332,700 nationally.

How much is property tax in Tennessee?

The effective rate is 0.50%, a median $1,442 a year. See Tennessee's property tax page for every county we cover.

How much income do I need for a median Tennessee home?

Under the 28% guideline, about $77,691 a year for the payment above; Tennessee's median household income is $69,595.

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Sources

Updated Sep 30, 2026 by the RateHerald team. The maths is tested against worked examples; report a problem.