Mortgage on a $400K house in Tennessee
$2,505 a month with 20% down — $2,153 principal and interest plus $152 property tax and $200 insurance.
Tennessee's typical property tax is 0.46% of the home's value a year (U.S. average 0.9%), which adds $152 a month on a $400K home. The typical home in Tennessee is worth $330,844, so $400K is 21% above the typical price.
$400K home in Tennessee: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $80,000 | $320,000 | $2,153 | $0 | $352 | $2,505 | $107,400 |
| 10% down | $40,000 | $360,000 | $2,422 | $150 | $352 | $2,924 | $125,300 |
| 5% down | $20,000 | $380,000 | $2,556 | $158 | $352 | $3,067 | $131,400 |
| 3.5% down (FHA) | $14,000 | $392,755 | $2,642 | $177 | $352 | $3,171 | $135,900 |
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 $400K buy a typical home?
In these counties the typical home value is within 15% of $400K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Maury County | $400,294 | 0.45% | $2,501 |
| Cheatham County | $395,014 | 0.47% | $2,508 |
| Sevier County | $406,731 | 0.28% | $2,445 |
| Blount County | $393,019 | 0.45% | $2,504 |
| Rutherford County | $413,437 | 0.48% | $2,513 |
| Knox County | $376,337 | 0.43% | $2,495 |
| Davidson County | $424,273 | 0.6% | $2,553 |
| Robertson County | $369,103 | 0.47% | $2,510 |
| Fayette County | $367,601 | 0.33% | $2,464 |
| Sumner County | $441,082 | 0.51% | $2,521 |
| Dickson County | $357,734 | 0.47% | $2,508 |
| Trousdale County | $356,334 | 0.35% | $2,468 |
87 of 95 Tennessee counties tracked by Zillow have a typical home value at or below $400K. See all Tennessee home prices.
Other prices in Tennessee
Frequently asked questions
What is the mortgage on a $400K house in Tennessee?
About $2,505 a month with 20% down at 7.11%: $2,153 principal and interest, $152 property tax and $200 insurance.
How much do I need to make to buy a $400K house in Tennessee?
About $107,400 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $400K house in Tennessee?
At Tennessee's typical effective rate of 0.46%, about $1,826 a year. Rates vary by county and city — see the county pages.