Tennessee Mortgage Calculator
See your monthly payment on a Tennessee home, including property tax at the state average of 0.67%.
Monthly payment in Tennessee
With 20% down, a 30-year loan at 6.5% and Tennessee's effective property tax of 0.67%:
| Home price | Principal and interest | Property tax | Insurance (est.) | Total per month |
|---|---|---|---|---|
| $250,000 | $1,264 | $140 | $150 | $1,554 |
| $300,000 | $1,517 | $168 | $150 | $1,834 |
| $400,000 | $2,023 | $223 | $150 | $2,396 |
| $500,000 | $2,528 | $279 | $150 | $2,957 |
| $600,000 | $3,034 | $335 | $150 | $3,519 |
The 6.5% rate is an example. Current rates change weekly; see Freddie Mac for the latest average.
Property tax in Tennessee
The effective property tax rate in Tennessee is about 0.67% of a home's value each year. On a $400,000 home that is roughly $2,680 a year or $223 a month. Actual bills depend on county, school district and exemptions.
How Tennessee property tax compares
The average effective property tax rate across states is about 0.99%. Tennessee ranks number 16 of 51 from lowest to highest. States with the closest rates:
| State | Effective rate | Monthly tax on $400,000 |
|---|---|---|
| Idaho | 0.63% | $210 |
| Arkansas | 0.64% | $213 |
| New Mexico | 0.67% | $223 |
| Tennessee | 0.67% | $223 |
| California | 0.71% | $237 |
| Montana | 0.74% | $247 |
| Mississippi | 0.78% | $260 |
15-year or 30-year loan?
| Loan on $320,000 at 6.5% | Monthly principal and interest | Total interest |
|---|---|---|
| 30-year fixed | $2,023 | $408,142 |
| 15-year fixed | $2,788 | $181,758 |
A 15-year loan costs more each month but saves a large amount of interest. Property tax and insurance in Tennessee come on top of either payment.
Frequently asked questions
How much is a $400,000 mortgage payment in Tennessee?
With 20% down at 6.5% for 30 years the payment is about $2,396 a month including estimated tax and insurance.
Sources and method
Page last updated November 2026. See our editorial policy and disclaimer.