Tennessee mortgage calculator

30-year fixed mortgage calculator with Tennessee-specific defaults. Median home price $320,000 · property tax effective rate 0.64%. All inputs update live; share your scenario as a URL.

Median home price reconciled 2026-04-22. Source: Zillow Home Value Index, state-level.

Your loan

Home price

$100k$2M

Down payment$64,000

Interest rate30-yr avg: 6.875%

Loan term

Taxes & insurance

(optional, but realistic)

State

Tennessee

State pre-set for this page. Switch state

Property tax rate

~$171 per month

Homeowner insurance

HOA dues (if any)

PMI required. With 20% down (LTV 80.0%), private mortgage insurance is added at 0.50% of the loan annually — that's $107/month. PMI auto-removes at month 28 (78% LTV, per the Homeowners Protection Act).

Extra payments

(optional — accelerate payoff)

Biweekly paymentsPay half the monthly amount every two weeks (26 half-payments per year ≈ 13 monthly equivalents). Typically saves 4-7 years and tens of thousands in interest on a 30-year loan.

Extra each month

Applied as additional principal every month.

One-time lump sum

Single payment toward principal at the specified month (e.g. tax refund or bonus).

Estimated monthly payment

For a $320,000 home, 20% down, 6.875% APR, 30-year fixed in Tennessee.

Where your payment goes

Principal & interest$1,682

Property tax$171

Homeowner insurance$145

PMI$107

Loan amount

$256,000

Total interest

$349,426

Total paid

$605,426

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How your balance falls over time

The crossover point — where more of each payment goes to principal than interest — is at year 20.

BalanceInterest paidPrincipal paid

Amortization schedule

Year-by-year breakdown of every payment.

Period	Payment	Principal	Interest	Total interest paid	Balance
Y01Year 1	$20,181	$2,664	$17,517	$17,517	$253,336
Y02Year 2	$20,181	$2,853	$17,328	$34,845	$250,483
Y03Year 3	$20,181	$3,055	$17,126	$51,971	$247,428
Y04Year 4	$20,181	$3,272	$16,909	$68,880	$244,156
Y05Year 5	$20,181	$3,504	$16,677	$85,556	$240,652
Y06Year 6	$20,181	$3,753	$16,428	$101,984	$236,899
Y07Year 7	$20,181	$4,019	$16,162	$118,146	$232,880
Y08Year 8	$20,181	$4,304	$15,877	$134,023	$228,576
Y09Year 9	$20,181	$4,610	$15,571	$149,594	$223,966
Y10Year 10	$20,181	$4,937	$15,244	$164,838	$219,029
Y11Year 11	$20,181	$5,287	$14,894	$179,732	$213,742
Y12Year 12	$20,181	$5,662	$14,519	$194,250	$208,080
Y13Year 13	$20,181	$6,064	$14,117	$208,367	$202,016
Y14Year 14	$20,181	$6,494	$13,686	$222,054	$195,522
Y15Year 15	$20,181	$6,955	$13,226	$235,279	$188,566
Y16Year 16	$20,181	$7,449	$12,732	$248,011	$181,118
Y17Year 17	$20,181	$7,977	$12,204	$260,215	$173,140
Y18Year 18	$20,181	$8,543	$11,638	$271,852	$164,597
Y19Year 19	$20,181	$9,150	$11,031	$282,884	$155,448
Y20Year 20	$20,181	$9,799	$10,382	$293,266	$145,649
Y21Year 21	$20,181	$10,494	$9,687	$302,953	$135,155
Y22Year 22	$20,181	$11,239	$8,942	$311,895	$123,916
Y23Year 23	$20,181	$12,036	$8,145	$320,039	$111,880
Y24Year 24	$20,181	$12,890	$7,291	$327,330	$98,990
Y25Year 25	$20,181	$13,805	$6,376	$333,706	$85,185
Y26Year 26	$20,181	$14,785	$5,396	$339,102	$70,400
Y27Year 27	$20,181	$15,834	$4,347	$343,450	$54,566
Y28Year 28	$20,181	$16,957	$3,224	$346,673	$37,609
Y29Year 29	$20,181	$18,160	$2,020	$348,694	$19,449
Y30Year 30	$20,181	$19,449	$732	$349,426	$0

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Tennessee context

No state wage income tax. Property tax effective rate is low (~0.64%).

Tennessee — related

Tennessee income tax

Top marginal — · No income tax

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Compare scenarios

Up to three mortgage scenarios side-by-side with a differential row.

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National 30-year fixed

Same calculator with cross-state defaults; manually pick any state.

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Last updated 2026-05-13