Tennessee Mortgage Calculator (2026)
Calculate your monthly payment with Tennessee-specific property tax (0.71%) and average insurance ($1,820/yr).
Monthly payment
Payment breakdown
Loan summary
Amortization schedule (first 12 + every 12 months)
| Month | Principal | Interest | PMI/MIP | Balance |
|---|---|---|---|---|
| 1 | $250.09 | $1,779.75 | $127.13 | $304,850 |
| 2 | $251.55 | $1,778.29 | $127.13 | $304,598 |
| 3 | $253.01 | $1,776.82 | $127.13 | $304,345 |
| 4 | $254.49 | $1,775.35 | $127.13 | $304,091 |
| 5 | $255.97 | $1,773.86 | $127.13 | $303,835 |
| 6 | $257.47 | $1,772.37 | $127.13 | $303,577 |
| 7 | $258.97 | $1,770.87 | $127.13 | $303,318 |
| 8 | $260.48 | $1,769.36 | $127.13 | $303,058 |
| 9 | $262.00 | $1,767.84 | $127.13 | $302,796 |
| 10 | $263.53 | $1,766.31 | $127.13 | $302,532 |
| 11 | $265.07 | $1,764.77 | $127.13 | $302,267 |
| 12 | $266.61 | $1,763.23 | $127.13 | $302,001 |
| 24 | $285.88 | $1,743.95 | $127.13 | $298,677 |
| 36 | $306.55 | $1,723.29 | $127.13 | $295,114 |
| 48 | $328.71 | $1,701.13 | $127.13 | $291,293 |
| 60 | $352.47 | $1,677.36 | $127.13 | $287,195 |
| 72 | $377.96 | $1,651.88 | $127.13 | $282,802 |
| 84 | $405.28 | $1,624.56 | $127.13 | $278,091 |
| 96 | $434.58 | $1,595.26 | $127.13 | $273,039 |
| 108 | $465.99 | $1,563.85 | $127.13 | $267,622 |
| 120 | $499.68 | $1,530.16 | — | $261,814 |
| 132 | $535.80 | $1,494.04 | — | $255,585 |
| 144 | $574.53 | $1,455.31 | — | $248,907 |
| 156 | $616.06 | $1,413.77 | — | $241,745 |
| 168 | $660.60 | $1,369.24 | — | $234,066 |
| 180 | $708.36 | $1,321.48 | — | $225,832 |
| 192 | $759.56 | $1,270.28 | — | $217,002 |
| 204 | $814.47 | $1,215.37 | — | $207,534 |
| 216 | $873.35 | $1,156.49 | — | $197,382 |
| 228 | $936.48 | $1,093.35 | — | $186,496 |
| 240 | $1,004.18 | $1,025.66 | — | $174,823 |
| 252 | $1,076.77 | $953.06 | — | $162,306 |
| 264 | $1,154.61 | $875.22 | — | $148,884 |
| 276 | $1,238.08 | $791.76 | — | $134,492 |
| 288 | $1,327.58 | $702.26 | — | $119,059 |
| 300 | $1,423.55 | $606.28 | — | $102,511 |
| 312 | $1,526.46 | $503.38 | — | $84,766 |
| 324 | $1,636.81 | $393.03 | — | $65,739 |
| 336 | $1,755.14 | $274.70 | — | $45,337 |
| 348 | $1,882.01 | $147.82 | — | $23,459 |
| 360 | $2,018.07 | $11.77 | — | $0 |
What the payment actually costs
The carrying cost that lenders leave out of the headline number: at 0.71% effective, Tennessee sits 37th of 51 states and adds around $237 a month to a $400,000 home, or $2,840 a year.
Homeowners insurance runs about $1,820 a year in Tennessee, 14th of 51 states and above the $1,552 national average. Together, tax and insurance add roughly $388 a month to the payment before you have paid a dollar of principal.
How this fits the rest of your tax bill
Tennessee charges no income tax, and property tax is where that revenue is recovered. At 0.71% the rate ranks 37th of 51. For a renter the no-income-tax advantage is close to pure gain; for an owner of a $400,000 home it is offset by roughly $2,840 a year. Run both sides before assuming the state is cheap.
Housing costs compound with the rate. Tennessee runs about 8% below national-average costs, so the same 0.71% rate applies to a smaller assessed value than it would elsewhere. A percentage rate is only half the number that matters; the base it applies to is the other half.
Property tax rates are effective statewide averages; your county assessor sets the actual figure and it varies widely within a state. See our methodology.