Mortgage on a $300K house in Tennessee
$1,879 a month with 20% down — $1,614 principal and interest plus $114 property tax and $150 insurance.
Tennessee's typical property tax is 0.46% of the home's value a year (U.S. average 0.9%), which adds $114 a month on a $300K home. The typical home in Tennessee is worth $330,844, so $300K is 9% below the typical price.
$300K home in Tennessee: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $60,000 | $240,000 | $1,614 | $0 | $264 | $1,879 | $80,500 |
| 10% down | $30,000 | $270,000 | $1,816 | $113 | $264 | $2,193 | $94,000 |
| 5% down | $15,000 | $285,000 | $1,917 | $119 | $264 | $2,300 | $98,600 |
| 3.5% down (FHA) | $10,500 | $294,566 | $1,982 | $133 | $264 | $2,378 | $101,900 |
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 $300K buy a typical home?
In these counties the typical home value is within 15% of $300K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Meigs County | $299,889 | 0.39% | $1,861 |
| Dekalb County | $298,340 | 0.35% | $1,852 |
| Roane County | $296,784 | 0.53% | $1,896 |
| Washington County | $305,353 | 0.52% | $1,895 |
| Cumberland County | $306,289 | 0.29% | $1,837 |
| Smith County | $307,229 | 0.47% | $1,881 |
| Coffee County | $308,088 | 0.57% | $1,907 |
| Union County | $291,876 | 0.37% | $1,857 |
| Putnam County | $312,125 | 0.48% | $1,885 |
| Anderson County | $313,013 | 0.54% | $1,899 |
| Bradley County | $313,180 | 0.45% | $1,878 |
| Monroe County | $286,339 | 0.41% | $1,867 |
65 of 95 Tennessee counties tracked by Zillow have a typical home value at or below $300K. See all Tennessee home prices.
Other prices in Tennessee
Frequently asked questions
What is the mortgage on a $300K house in Tennessee?
About $1,879 a month with 20% down at 7.11%: $1,614 principal and interest, $114 property tax and $150 insurance.
How much do I need to make to buy a $300K house in Tennessee?
About $80,500 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $300K house in Tennessee?
At Tennessee's typical effective rate of 0.46%, about $1,370 a year. Rates vary by county and city — see the county pages.