Current Tennessee Mortgage Rates

Compare Tennessee mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Tennessee.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Tennessee. Plus, shopping lenders is free and there is no obligation.

Tennessee Mortgage Rates as of February 8, 2023
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Input your information to receive personalized mortgage quotes from preferred lenders. Comparing proposals from multiple lenders is the best way to save money on your mortgage.

Data provided by Icanbuy. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more information on rates and product details.

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Compare Today's Tennessee Mortgage Rates

February 8, 2023

Current mortgage rates in Tennessee are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Tennessee Rates
30 Year Fixed Rate
15 Year Fixed Rate
5/1 Adjustable Rate Mortgage

How Affordable is Housing in Tennessee?

Below we offer valuable insights on the housing market and real estate prices in Tennessee. Understand how much you need to make to buy a house in Tennessee, including the mortgage you need. Review the monthy loan payment so you can determine if home ownership in Tennessee is affordable for you. We provide this helpful information to help you decide if living in Tennessee is right for you.

The median home value for Tennessee is $252,443

Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Tennessee is $41,362

With this income, you could qualify for a $227,198 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Tennessee is $958

The median household income for Tennessee is $61,458

Based on this income, you can afford a home valued at approximately $375,096

The home price you can afford to buy based on household income in Tennessee is 149% of the median home value which means housing prices are average. Tennessee ranks 28 out of 50 states for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the real estate market in Tennessee is average


Additional Mortgage Resources for Tennessee Residents

Mortgage Rates for Tennessee Cities

Blountville Mortgage Rates

Chattanooga Mortgage Rates

Clarksville Mortgage Rates

Cleveland Mortgage Rates

Franklin Mortgage Rates

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Jackson Mortgage Rates

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Sevier Mortgage Rates

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