Tennessee Mortgage Calculator
Estimate the monthly PITI payment on a Tennessee home. Preseeded with the state’s 0.55% effective property-tax rate, $1,700 average annual insurance, and $320,000 median home price.
Loan Parameters
$
$
Percentage
20.0 %
Loan Term
Advanced Options
$
Monthly Payment (PITI)
$2,013
- Principal & Interest
- $1,618
- Property Taxes
- $147
- Home Insurance
- $142
- PMI
- $107
Total Interest
$326,514
Total Cost
$686,314
Payoff Year
2056
Tennessee Property Tax, Insurance & Home Prices
- Effective property-tax rate
- 0.55%
- Avg annual insurance
- $1,700
- Median home price
- $320,000
Statewide averages, last reviewed May 2026. Actual rates and premiums vary significantly by county, city, and parcel — see the notes below.
Notable Tennessee Rules
Tennessee has no state income tax on wages. Residential property is assessed at 25% of fair market value (commercial at 40%). Property Tax Relief is available for homeowners 65+, disabled, or disabled veterans, with income limits.
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Frequently Asked Questions
- Tennessee's statewide effective property-tax rate is approximately 0.55% of home value (last reviewed May 2026). Actual county- and city-level rates vary; check your specific parcel before budgeting.