Tennessee Mortgage Rates (2026)
Current average mortgage rates, median home prices, and top lenders in Tennessee. Rates apply to primary residence purchases with good credit (740+).
30yr Fixed
7.06%
Avg APR
15yr Fixed
6.46%
Avg APR
Median Price
$340,000
Median home
Monthly P&I
$1,813
30yr at 80% LTV
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Top Mortgage Lenders in Tennessee
1
Get RateRocket Mortgage
Online convenience
30yr Fixed
7%
15yr Fixed
6.4%
Min Down
3%
2
Get RateChase
Existing customers
30yr Fixed
6.9%
15yr Fixed
6.3%
Min Down
3%
3
Get RateWells Fargo
Branch access
30yr Fixed
7.1%
15yr Fixed
6.5%
Min Down
3%
4
Get RateBank of America
Preferred Rewards
30yr Fixed
7%
15yr Fixed
6.4%
Min Down
3%
5
Get RateloanDepot
Low down payment
30yr Fixed
6.9%
15yr Fixed
6.3%
Min Down
3%
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First-Time Buyer Programs in Tennessee
- ✓THDA Great Choice Home Loan
- ✓THDA Homeownership for the Brave
- ✓Great Start Loan
Mortgage Requirements in Tennessee
- •Min 640 credit score for THDA programs
- •Income limits apply
- •Homebuyer education required
Tennessee Housing Market Facts
Nashville is the most expensive market; Memphis and Knoxville offer better value.
No state income tax attracts buyers relocating from high-tax states.
THDA Great Choice provides up to $15,000 DPA for qualifying buyers.
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