Skip to main content
Advertiser Disclosure
We do receive compensation from some partners whose offers appear on this page. We have not reviewed all available products or offers. Compensation may impact the order in which offers appear on page, but our editorial opinions and ratings are not influenced by compensation.

The Ascent Logo The Ascent Logo - Blue circle with an A in it and the ascent a motley fool company to the right of that

  • Credit Cards
  • Banking
  • Brokerages
  • Loans
  • Mortgages
  • Knowledge
  • Latest Picks
  • Search Icon Click here to search

Credit Cards

Top Picks
  • Best of January 2021
  • Cash Back
  • Balance Transfer
  • Travel
  • 0% APR
  • Rewards
  • Bad Credit
Knowledge
  • Beginners Guide to Credit Cards
  • How to Rebuild Your Credit
  • Maximize Your Credit Card Rewards
  • Learn More About Credit Cards
Credit Card Tools
  • Compare Cards
Looking for a new credit card?

Explore the best credit cards in every category as of January 2021.

Get started!

Banking

Top Picks
  • Best Savings Accounts
  • Best Bank Accounts
  • Best Money Market Accounts
  • Best CDs
  • Best Checking Account Bonuses
Knowledge
  • Beginners Guide to Banking
  • Everything You Need to Know About Savings
  • Money Market Accounts Made Easy
  • Learn More About Banking
Looking for a place to park your cash?

Check out our top picks of the best online savings accounts for January 2021.

Get Started!

Brokerages

Top Picks
  • Best Brokers of January 2021
  • Best Online Brokers for Beginners
  • Best Options Brokers
  • Best IRA Accounts
  • Best Roth IRA Accounts
  • Best Robo Advisors
Knowledge
  • How to Open a Brokerage Account
  • Beginner's Guide to Brokerages
  • Learn More About Brokerage
Just getting started?

Explore our picks of the best brokerage accounts for beginners for January 2021.

Get Started!

Loans

Top Picks
  • Best Loans of January 2021
  • Best Personal Loans for Bad Credit
  • Best Loans for Debt Consolidation
  • Best Low-Interest Personal Loans
  • Best Personal Loans for Good Credit
  • Best Personal Loans for Fair Credit
Knowledge
  • Personal Loans Made Easy
  • Debt Consolidation Guide
  • How to Pay Off Debt
  • Learn More About Loans
Thinking about taking out a loan?

Before you apply for a personal loan, here's what you need to know.

Get Started!

Mortgages

Top Picks
  • Best Mortgage Lenders of January 2021
  • Best Mortgage Lenders for Poor Credit
  • Best Refinance Lenders
  • Best VA Mortgage Lenders
Knowledge
  • First Time Homebuyers Guide
  • Home Loans Made Easy
  • The Complete Guide to Refinancing
  • How to Get a Mortgage with Bad Credit
  • Learn More About Mortgages
Tools & Calculators
  • Mortgage Calculator
Compare Rates
  • Today's Mortgage Rates
  • Refinance Rates
  • 15-Year Mortgage Rates
  • 20-Year Mortgage Rates
  • 30-Year Mortgage Rates
  • Jumbo Mortgage Rates
  • VA Loan Rates
  • 5/1 ARM Rates
  • 7/1 ARM Rates
  • FHA Mortgage Rates

Knowledge

Knowledge Section
  • All Articles
  • Credit Card Articles
  • Banking Articles
  • Brokerage Articles
  • Personal Loan Articles
  • Mortgage Articles
  • Personal Finance Articles
Recent Articles
  • Should You Keep Your Amex Platinum Card if You Don't Plan to Travel This Year?

    Credit Cards

    Should You Keep Your Amex Platinum Card if You Don't Plan to Travel This Year?
  • This Is the Most Popular Mortgage Lender in the U.S.

    Mortgages

    This Is the Most Popular Mortgage Lender in the U.S.
  • What Credit Score Do I Need for a Discover Credit Card?

    Credit Cards

    What Credit Score Do I Need for a Discover Credit Card?
  • Stimulus Check Update: Biden to Push Additional Aid Upon Taking Office

    Personal Finance

    Stimulus Check Update: Biden to Push Additional Aid Upon Taking Office
  • The Ascent
  • Best Mortgage Lenders
  • Today's Mortgage Rates

Mortgage Rates in Tennessee

January 21, 2021

The Ascent is reader-supported: we may earn a commission from offers on this page. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation.

If you're looking to buy a home in Tennessee, your goal should be to lock in one of the best mortgage rates. Applying with a variety of mortgage lenders will help you determine what rates you might qualify for, since each lender has its own requirements. Doing so within a short period of time will help you avoid a hit to your credit score during that process. Ready to get started? Check out today’s mortgage rates in Tennessee below.

Current Mortgage and Refinance Rates in Tennessee

Rates As of Jan 20, 2021
Product Interest Rate Average Points/Credits
Fixed 30 Year 2.863% -0.050
Fixed 15 Year 2.315% -0.081
Fixed 30 Year - FHA 2.909% 0.219
Fixed 30 Year - VA 2.741% 0.126
Fixed 30 Year - Jumbo 3.278% -0.275
Fixed 30 Year 2.979% 0.196
Fixed 20 Year 2.794% 0.054
Fixed 15 Year 2.444% 0.161
Fixed 30 Year - FHA 2.866% 0.482
Fixed 30 Year - VA 2.510% -0.656
Fixed 30 Year - Jumbo 2.857% 0.355
The Ascent's Mortgage Rates Tracking Methodology

5 affordable places in Tennessee

Home to a number of thriving cities, Tennessee is a great place to call home. Here are some lower-cost areas to focus your home search.

1. Murfreesboro

Just 40 minutes from Nashville, Murfreesboro is known for its parks, greenways, and music and arts scene. It's also home to great shopping and museums. The median home value in Murfreesboro is $215,800, according to Niche. That’s bit above the median home value for all of Tennessee -- $192,630, according to Zillow. Meanwhile, Tax-Rates.org lists the average property tax rate in Rutherford County at 0.74% of a home's assessed value. That's just above Tennessee's average property tax rate -- 0.68%.

2. Nashville

When you think of Nashville, it's easy to conjure images of bands, music festivals, and more bars and restaurants than you can count. Nashville is perpetually hopping, and tourism is a large driver of the city's economy. The median home value in Nashville is $216,500, while the average property tax rate in Davidson County is 0.96% of a home's assessed value. That's a bit high on a statewide level, but it buys you proximity to great food, culture, and entertainment.

3. Clarksville

About an hour northwest of Nashville, Clarksville is known for its impressive network of parks, and it attracts families as well as young professionals. The median home value in Clarksville is $148,700, while the average property tax rate in Montgomery County is 0.86% of a home's assessed value.

4. Knoxville

About an hour south of the Kentucky border, Knoxville is also about an hour from the Great Smoky Mountains National Park. And, it's home to the University of Tennessee, known for its athletics. The median home value in Knoxville is $128,800, while the average property tax rate in Knox County is 0.72%.

5. Chattanooga

Minutes from the Georgia border, Chattanooga is known for its riverwalk and attractions -- most notably, the Chattanooga Zoo. The median home value in Chattanooga is $160,100, while the average property tax rate in Hamilton County is 0.86% of a home's assessed value.

The more appealing a mortgage candidate you are, the greater your chances of snagging a great rate. Before applying, make sure your credit score is strong, and work on paying off any existing debt to lower your debt-to-income ratio. Also, have proof of steady income that supports the mortgage you're looking for. These steps will help you lock in a mortgage rate that makes your Tennessee home more affordable in the long run.

Check out our mortgage calculator to help you estimate your monthly payment, including principal, interest, insurance, taxes, and PMI.

Select the state you want to see mortgage rates for:

Alabama mortgage rates Alaska mortgage rates Arizona mortgage rates Arkansas mortgage rates California mortgage rates Colorado mortgage rates Connecticut mortgage rates Washington DC mortgage rates Delaware mortgage rates Florida mortgage rates Georgia mortgage rates Hawaii mortgage rates Idaho mortgage rates Illinois mortgage rates Indiana mortgage rates Iowa mortgage rates Kansas mortgage rates Kentucky mortgage rates Louisiana mortgage rates Maine mortgage rates Maryland mortgage rates Massachusetts mortgage rates Michigan mortgage rates Minnesota mortgage rates Mississippi mortgage rates Missouri mortgage rates Montana mortgage rates Nebraska mortgage rates Nevada mortgage rates New Hampshire mortgage rates New Jersey mortgage rates New Mexico mortgage rates New York mortgage rates North Carolina mortgage rates North Dakota mortgage rates Ohio mortgage rates Oklahoma mortgage rates Oregon mortgage rates Pennsylvania mortgage rates Rhode Island mortgage rates South Carolina mortgage rates South Dakota mortgage rates Tennessee mortgage rates Texas mortgage rates Utah mortgage rates Vermont mortgage rates Virginia mortgage rates Washington mortgage rates West Virginia mortgage rates Wisconsin mortgage rates Wyoming mortgage rates

Check out more mortgage rates:

15-year mortgage rates

20-year mortgage rates

30-year mortgage rates

Refinance mortgage rates

FHA mortgage rates

Jumbo mortgage rates

VA loan rates

5/1 ARM rates

7/1 ARM rates

Like this page? Share it!

Blue Facebook Icon Share this website with Facebook
Blue Twitter Icon Share this website with Twitter
Blue LinkedIn Icon Share this website with LinkedIn
Blue Mail Icon Share this website by email

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.

The Ascent Logo

The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters.

btn_facebook-yellow btn_twitter-yellow btn_instagram-yellow

Copyright © 2018 - 2021 The Ascent. All rights reserved.

About The Ascent
About Us Contact Us Newsroom How We Make Money Editorial Integrity Ratings Methodology
Legal
Terms of Use Privacy Policy Accessibility Policy Terms and Conditions Copyright, Trademark and Patent Information
Learn
Credit Cards Banking Brokerage Loans Recent Articles

By submitting your email address, you consent to us sending you money tips along with products and services that we think might interest you. You can unsubscribe at any time. Please read our Privacy Statement and Terms & Conditions.

Back to The Motley Fool