Compare Current Chattanooga, Tennessee Mortgage Rates

Compare Chattanooga, TN 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 Chattanooga.

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

Chattanooga, TN Mortgage Rates as of May 25, 2024
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Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes, insurance premiums or private mortgage insurance if applicable. Actual payments will be greater with taxes and insurance included. Read through our lender table disclaimer for more information on rates and product details.

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Compare Today's Chattanooga, TN Mortgage Rates

May 25, 2024

Current mortgage rates in Chattanooga, TN 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
Chattanooga, TN Rates
30 Year Fixed Rate
15 Year Fixed Rate
5/1 Adjustable Rate Mortgage

How Affordable is Housing in Chattanooga, Tennessee?

Below we provide helpful information on the real estate market, home prices and housing affordability in Chattanooga. Understand how much you need to earn to afford a home in Chattanooga, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Chattanooga fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Chattanooga is right for you.

The median home value for Chattanooga, TN (Hamilton County) is $297,308

Based on current mortgage rates and a 10% down payment, you need to make $62,023 per year to buy the median priced home in Chattanooga

With this income, you could qualify for a $267,577 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 Chattanooga is $1,436

The median household income for Chattanooga, TN (Hamilton County) is $67,061

Based on this income, you can afford a home valued at approximately $321,456

The home price you can afford to buy based on household income in Chattanooga is 108% of the median home value which means housing prices are average. Chattanooga (Hamilton County) ranks 83 out of 95 counties in Tennessee and 2,711 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Chattanooga, TN is average


Loan Limits for Chattanooga, Tennessee

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Chattanooga (Hamilton County) below.

Conforming loan limits for Chattanooga, TN

1 unit: $726,200
2 units: $929,850
3 units: $1,123,900
4 units: $1,396,800

FHA loan limits for Chattanooga, TN

1 unit: $472,030
2 units: $604,400
3 units: $730,525
4 units: $907,900

VA loan limits for Chattanooga, TN

1 unit: $726,200

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