Current Tennessee Mortgage Rates

Compare mortgage rates and closing costs for leading lenders in Tennessee. Review free, personalized mortgage rates for Tennessee based on your specifc loan amount, program and other factors. Easily compare APRs, fees and monthly payments to find the lender offering the best mortgage terms.

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.

Mortgage Rates for Tennessee as of September 24, 2020
  • Lender
  • APR
  • Loan Type
  • Rate
  • Payment
  • Fees
  • Contact
Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.


How Do Today's Tennessee Mortgage Rates Compare?

September 24, 2020

The current average rate for a 30 year fixed rate mortgage in Tennessee is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

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 $205,842

Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Tennessee is $37,046

With this income, you could qualify for a $185,258 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 $858

The median household income for Tennessee is $52,994

Based on this income, you can afford a home valued at approximately $294,454

The home price you can afford to buy based on household income in Tennessee is 143% 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

Hendersonville Mortgage Rates

Jackson Mortgage Rates

Johnson City Mortgage Rates

Knoxville Mortgage Rates

Maryville Mortgage Rates

Memphis Mortgage Rates

Mt. Juliet Mortgage Rates

Murfreesboro Mortgage Rates

Nashville Mortgage Rates

Sevier Mortgage Rates

Spring Hill Mortgage Rates