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How Much Will Your Mortgage Be in Tennessee?

The Volunteer State has been home to rising home values of late—as much as 9% in the northwest of the state. Overall, however, home prices in Tennessee are among some of the lowest in the country. In fact, homeowners in the state only spend around 19% of their take-home income on housing each month on average.

Of note is the fact that in Tennessee, instead of a mortgage, when you purchase a home, you will be given a deed of trust. You need to know about a deed of trust because with the latter, your lender can legally foreclose on your home without needing to obtain a court order through a power of sale clause within deeds of trust. In such cases, your lender can hire a third party to auction off your home if you fall behind in payments without taking the time to go to court. If you want to move to Tennessee, see First-time Homebuyer Guide for Tennessee. Also, see FHA Loan in Tennessee for details and requirements for a home in the state.

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Happy Homeowners

With more than 300,000 reviews online, don't just take our word for it. From first-time buyers to Veterans to seasoned investors, NAF is committed to serving our customers every step of the way.

Overall Rating

4.9/5 rating based on 373,218 reviews

Vic Faulkner was very through threw out the whole experience. Very good experience hands down

Awesome Experience!

I’ve been in real estate for nearly 8 years and have worked with countless lenders—but every now and then, you come across someone who truly stands out. Wonida is one of those rare gems. She came in and saved the day, meeting a tight deadline with grace and confidence. Her communication was prompt, clear, and consistent—there was never a moment I felt out of the loop. What really impressed me was her ability to think outside the box. She brought solutions, not stress. Wonida’s level of knowledge, compassion, and understanding is unmatched, and those qualities matter so much during what can be a very emotional process for buyers. Without hesitation, I highly recommend Wonida for your home buying needs. She’s the kind of lender that makes everyone’s job easier—and clients happier.

5.0

Joi C.

It was a pleasure working with Justin and Trina while we going through the loan process to get our home. They were very quick to respond, very transparent, and otherwise super helpful with the explanations of the process and details within it. I felt that they had our back every step of the way. I would definitely recommend anyone looking to purchase a home engaging with this team.

5.0

Derek D.