Conventional Loan Calculator — Tennessee
In Tennessee, one-unit loans up to $832,750–$1,029,250 are conforming. With 10% down on the typical $334,000 home, the $300,600 loan carries estimated PMI of 0.72% ($180/mo), which drops off after about 9 years once the balance reaches 80% of the price.
Tennessee has the 10th-lowest effective property tax rate of the 50 states at 0.52% — $1,303 less a year than the 0.91% state average on a $334,000 home. Homeowners insurance averages $2,958 a year, the 17th-highest premium nationally and $238 more than the typical state.
Loan Parameters
Total Monthly Payment
$2,578
Principal & Interest + Taxes + Insurance
APR 7.488%
Total Interest
$421,545
Total Cost
$881,024
Advanced Parameters
Private Mortgage Insurance (PMI)
Your down payment is below 20%. PMI is estimated at 0.72% annually and is removed here when your LTV reaches 80%.
Loan Summary
Payoff Date
Sep 2056
Interest / Principal
1.40x
Mortgage Insurance Ends
Feb 2035
50% Equity
Jul 2048
Amortization Schedule
| Period | Payment | Principal | Interest | PMI | Balance | Equity |
|---|---|---|---|---|---|---|
| Year 1 | $24,072 | $3,036 | $21,036 | $2,164 | $297,564 | $36,436 |
| Year 2 | $24,072 | $3,256 | $20,815 | $2,164 | $294,308 | $39,692 |
| Year 3 | $24,072 | $3,493 | $20,579 | $2,164 | $290,815 | $43,185 |
| Year 4 | $24,072 | $3,746 | $20,325 | $2,164 | $287,068 | $46,932 |
| Year 5 | $24,072 | $4,018 | $20,053 | $2,164 | $283,050 | $50,950 |
| Year 6 | $24,072 | $4,310 | $19,761 | $2,164 | $278,740 | $55,260 |
| Year 7 | $24,072 | $4,623 | $19,448 | $2,164 | $274,117 | $59,883 |
| Year 8 | $24,072 | $4,959 | $19,113 | $2,164 | $269,158 | $64,842 |
| Year 9 | $24,072 | $5,319 | $18,753 | $721 | $263,839 | $70,161 |
| Year 10 | $24,072 | $5,705 | $18,366 | — | $258,134 | $75,866 |
| Year 11 | $24,072 | $6,119 | $17,952 | — | $252,014 | $81,986 |
| Year 12 | $24,072 | $6,564 | $17,508 | — | $245,450 | $88,550 |
| Year 13 | $24,072 | $7,040 | $17,031 | — | $238,410 | $95,590 |
| Year 14 | $24,072 | $7,552 | $16,520 | — | $230,859 | $103,141 |
| Year 15 | $24,072 | $8,100 | $15,972 | — | $222,759 | $111,241 |
| Year 16 | $24,072 | $8,688 | $15,384 | — | $214,071 | $119,929 |
| Year 17 | $24,072 | $9,319 | $14,753 | — | $204,752 | $129,248 |
| Year 18 | $24,072 | $9,995 | $14,076 | — | $194,757 | $139,243 |
| Year 19 | $24,072 | $10,721 | $13,350 | — | $184,035 | $149,965 |
| Year 20 | $24,072 | $11,500 | $12,572 | — | $172,536 | $161,464 |
| Year 21 | $24,072 | $12,335 | $11,737 | — | $160,201 | $173,799 |
| Year 22 | $24,072 | $13,230 | $10,841 | — | $146,971 | $187,029 |
| Year 23 | $24,072 | $14,191 | $9,881 | — | $132,780 | $201,220 |
| Year 24 | $24,072 | $15,221 | $8,850 | — | $117,559 | $216,441 |
| Year 25 | $24,072 | $16,327 | $7,745 | — | $101,232 | $232,768 |
| Year 26 | $24,072 | $17,512 | $6,560 | — | $83,720 | $250,280 |
| Year 27 | $24,072 | $18,784 | $5,288 | — | $64,936 | $269,064 |
| Year 28 | $24,072 | $20,147 | $3,924 | — | $44,789 | $289,211 |
| Year 29 | $24,072 | $21,610 | $2,461 | — | $23,179 | $310,821 |
| Year 30 | $24,071 | $23,179 | $892 | — | $0 | $334,000 |
Conventional Loan numbers for Tennessee
- Typical Tennessee home value
- $334,000
- 10% down ($33,400) · Zillow, August 31, 2026
- Loan amount
- $300,600
- conforming in all 95 Tennessee counties
- Estimated monthly payment
- $2,578
- APR 7.488%
- Tennessee property tax
- 0.52%
- $145/mo
- Homeowners insurance
- $2,958/yr
- $247/mo
- Tennessee conforming limit
- $832,750 – $1,029,250
- Above this, the loan is jumbo
- PMI
- 0.72% · $180/mo
- Drops off after 9 years
How much house can you afford in Tennessee with a conventional loan?
Highest price where principal, interest, Tennessee property tax, insurance and PMI stay within 28% of gross income —10% down, 30-year fixed at 7.03%. Other debts lower these numbers.
| Household income | Housing budget / mo | Max home price | Down payment | vs typical home |
|---|---|---|---|---|
| $50,000 | $1,167 | $131,000 | $13,100 | 39% |
| $75,000 | $1,750 | $215,000 | $21,500 | 64% |
| $100,000 | $2,333 | $299,000 | $29,900 | 89% |
| $125,000 | $2,917 | $382,000 | $38,200 | 114% |
| $150,000 | $3,500 | $466,000 | $46,600 | 139% |
| $200,000 | $4,667 | $633,000 | $63,300 | 189% |
| $250,000 | $5,833 | $800,000 | $80,000 | 239% |
Conventional vs other loan types in Tennessee
$334,000 home, each program's typical minimum or default down payment, current average 30-year rate.
| Loan type | Down | Loan amount | Upfront fee | Monthly MI | Total / month | APR |
|---|---|---|---|---|---|---|
| Conventional | 10% · $33,400 | $300,600 | — | $180 PMI | $2,578 | 7.488% |
| FHA | 3.5% · $11,690 | $327,950 | UFMIP $5,640 | $150 MIP | $2,729 | 7.761% |
| VA | 0% · $0 | $341,181 | Funding fee $7,181 | $0 | $2,668 | 7.242% |
| JumboLoan is conforming (≤ $832,750) | 20% · $66,800 | $267,200 | — | $0 | $2,174 | 7.030% |
Frequently asked questions
What is the monthly payment on a $334,000 home with a conventional loan in Tennessee?
Estimated $2,578 per month ($2,006 principal & interest, $145 property tax, $247 insurance, $180 PMI) at 7.03% for 30 years, with 10% down. APR 7.488%.
How much is PMI on a Tennessee conventional loan?
At 90% loan-to-value, PMI is estimated at 0.72% a year ($180/mo). It can be removed once the balance reaches 80% of the home's original value.
Explore related calculators
Compare in Tennessee
Conventional Loan calculator in nearby states
- Conventional Loan calculator — Alabama ($1,961/mo)
- Conventional Loan calculator — Arkansas ($1,903/mo)
- Conventional Loan calculator — Georgia ($2,578/mo)
- Conventional Loan calculator — Kentucky ($2,006/mo)
- Conventional Loan calculator — Mississippi ($1,603/mo)
- Conventional Loan calculator — Missouri ($2,285/mo)
- Conventional Loan calculator — North Carolina ($2,637/mo)
- Conventional Loan calculator — Virginia ($3,159/mo)
Data sources & assumptions
- Freddie Mac Primary Mortgage Market Survey (PMMS) — Weekly average as of September 24, 2026
- Zillow Home Value Index (ZHVI), typical home value, all homes — Default home prices; typical value as of August 31, 2026
- FHFA 2026 Conforming Loan Limit Values (one-unit) — 2026 one-unit limits, 56 states & territories
- Effective statewide property tax rate (Tax Foundation, 2026 projections) — Statewide effective rate; county rates vary
- Average annual homeowners premium, $300K dwelling / $1K deductible (industry survey averages) — Statewide average premium
- CFPB — What is private mortgage insurance?
- Homeowners Protection Act (PMI cancellation at 78–80% LTV)
Estimates exclude lender origination fees, points and closing costs. See our methodology for formulas and limitations.