Mortgage on a $150K house in Tennessee
$939 a month with 20% down — $807 principal and interest plus $57 property tax and $75 insurance.
Tennessee's typical property tax is 0.46% of the home's value a year (U.S. average 0.9%), which adds $57 a month on a $150K home. The typical home in Tennessee is worth $330,844, so $150K is 55% below the typical price.
$150K home in Tennessee: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $30,000 | $120,000 | $807 | $0 | $132 | $939 | $40,300 |
| 10% down | $15,000 | $135,000 | $908 | $56 | $132 | $1,096 | $47,000 |
| 5% down | $7,500 | $142,500 | $959 | $59 | $132 | $1,150 | $49,300 |
| 3.5% down (FHA) | $5,250 | $147,283 | $991 | $66 | $132 | $1,189 | $51,000 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.46% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in Tennessee does $150K buy a typical home?
In these counties the typical home value is within 15% of $150K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Hardeman County | $158,579 | 0.63% | $961 |
| Lauderdale County | $139,096 | 0.59% | $956 |
| Chester County | $164,234 | 0.52% | $947 |
| Obion County | $166,805 | 0.52% | $947 |
| Perry County | $170,720 | 0.53% | $949 |
2 of 95 Tennessee counties tracked by Zillow have a typical home value at or below $150K. See all Tennessee home prices.
Other prices in Tennessee
Frequently asked questions
What is the mortgage on a $150K house in Tennessee?
About $939 a month with 20% down at 7.11%: $807 principal and interest, $57 property tax and $75 insurance.
How much do I need to make to buy a $150K house in Tennessee?
About $40,300 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $150K house in Tennessee?
At Tennessee's typical effective rate of 0.46%, about $685 a year. Rates vary by county and city — see the county pages.