Mortgage on a $250K house in Tennessee
$1,566 a month with 20% down — $1,345 principal and interest plus $95 property tax and $125 insurance.
Tennessee's typical property tax is 0.46% of the home's value a year (U.S. average 0.9%), which adds $95 a month on a $250K home. The typical home in Tennessee is worth $330,844, so $250K is 24% below the typical price.
$250K home in Tennessee: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $50,000 | $200,000 | $1,345 | $0 | $220 | $1,566 | $67,100 |
| 10% down | $25,000 | $225,000 | $1,514 | $94 | $220 | $1,827 | $78,300 |
| 5% down | $12,500 | $237,500 | $1,598 | $99 | $220 | $1,917 | $82,100 |
| 3.5% down (FHA) | $8,750 | $245,472 | $1,651 | $111 | $220 | $1,982 | $84,900 |
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 $250K buy a typical home?
In these counties the typical home value is within 15% of $250K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Giles County | $250,862 | 0.42% | $1,558 |
| Humphreys County | $249,121 | 0.48% | $1,570 |
| Pickett County | $249,112 | 0.41% | $1,555 |
| Overton County | $251,818 | 0.39% | $1,551 |
| Stewart County | $247,613 | 0.46% | $1,566 |
| Polk County | $252,394 | 0.5% | $1,575 |
| Greene County | $247,189 | 0.43% | $1,560 |
| Hawkins County | $247,127 | 0.54% | $1,583 |
| Bledsoe County | $246,774 | 0.36% | $1,546 |
| Warren County | $254,138 | 0.42% | $1,557 |
| Marion County | $254,750 | 0.43% | $1,559 |
| McMinn County | $256,264 | 0.35% | $1,544 |
45 of 95 Tennessee counties tracked by Zillow have a typical home value at or below $250K. See all Tennessee home prices.
Other prices in Tennessee
Frequently asked questions
What is the mortgage on a $250K house in Tennessee?
About $1,566 a month with 20% down at 7.11%: $1,345 principal and interest, $95 property tax and $125 insurance.
How much do I need to make to buy a $250K house in Tennessee?
About $67,100 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $250K house in Tennessee?
At Tennessee's typical effective rate of 0.46%, about $1,142 a year. Rates vary by county and city — see the county pages.