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Tennessee
Mortgage Calculator

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. Also, see FHA Loan in Tennessee for details and requirements for a home in the state.
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Tennessee Home and Mortgage
Stats to Know
County | Avg. Home Price | Avg. Days on Market |
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Source of Info PropertyPath
Factors That Can Affect Your Tennessee Mortgage Calculations
Tennessee Job Stats to Consider
As of December 2019, the civilian labor force in Tennessee was 3.3 million and the unemployment rate was 3.3%. The occupations with the highest number of employees in the state are Office and Administrative Support, Sales, and Food Preparation and Serving, which employs greater than 1.0 million people.