Tennessee mortgages and home buyers, 2025
Incomes, down payments, rates, loan costs, denials and lenders across Tennessee's 95 counties, from official HMDA records.
HMDA 2025 data released June 23, 2026
In 2025, lenders reported 70,511 home-purchase mortgages for owner-occupied, single-family homes in Tennessee. The median buyer borrowed $325,000 on a home valued at $385,000 and reported a household income of $106,000.
Buyers financed a median 90% of the home's value (roughly 10% down), paid a median 6.624% on 30-year fixed conventional loans and faced median conventional loan costs of $5,320.
Lenders denied 7.7% of completed home-purchase applications.
Key facts
- Median conventional loan costs ($5,320) were 4% lower than the U.S. median ($5,570).
- The most common age bracket among borrowers was 25–34 (32.7% of purchase loans).
- 52.2% of purchase mortgages had a single borrower with no co-applicant.
- The most-cited reason for denial was debt-to-income ratio (38.5% of denials with a stated reason).
Conforming limits in Tennessee range from $832,750 to $1,029,250 for a one-unit home in 2026. See every Tennessee county's 2026 FHA and conforming loan limits.
Tennessee counties compared
Click a column to sort. Medians shown with at least 30 loans.
| County | Purchase loans | Median loan | Buyer income | Down payment | 30-yr rate | Loan costs | Denial rate | FHA limit |
|---|---|---|---|---|---|---|---|---|
| Anderson County | 791 | $305,000 | $99,000 | 6.4% | 6.625% | $5,380 | 5.5% | $541,287 |
| Bedford County | 502 | $305,000 | $89,000 | 5.0% | 6.625% | $5,250 | 9.9% | $541,287 |
| Benton County | 120 | $205,000 | $79,000 | 3.5% | 6.750% | $3,870 | 9.3% | $541,287 |
| Bledsoe County | 85 | $285,000 | $105,000 | 10.0% | 6.625% | $4,940 | 7.4% | $541,287 |
| Blount County | 1,593 | $345,000 | $110,000 | 10.0% | 6.625% | $5,850 | 6.8% | $541,287 |
| Bradley County | 1,107 | $285,000 | $93,000 | 5.0% | 6.625% | $4,740 | 9.3% | $541,287 |
| Campbell County | 276 | $235,000 | $86,000 | 5.0% | 6.625% | $4,950 | 9.7% | $541,287 |
| Cannon County | 126 | $315,000 | $105,000 | 10.0% | 6.625% | $5,220 | 5.1% | $1,029,250 |
| Carroll County | 184 | $185,000 | $74,000 | 3.5% | 6.500% | $4,040 | 10.5% | $541,287 |
| Carter County | 412 | $225,000 | $75,000 | 5.0% | 6.750% | $4,560 | 9.6% | $541,287 |
| Cheatham County | 511 | $365,000 | $113,000 | 8.4% | 6.500% | $4,660 | 6.3% | $1,029,250 |
| Chester County | 150 | $225,000 | $88,000 | 5.0% | 6.750% | $5,160 | 10.2% | $541,287 |
| Claiborne County | 199 | $235,000 | $83,000 | 5.0% | 6.625% | $4,610 | 10.7% | $541,287 |
| Clay County | 32 | $245,000 | $103,000 | — | — | — | 8.6% | $541,287 |
| Cocke County | 181 | $245,000 | $82,000 | 5.0% | 6.750% | $5,450 | 13.8% | $541,287 |
| Coffee County | 581 | $295,000 | $95,000 | 5.0% | 6.625% | $4,800 | 5.8% | $541,287 |
| Crockett County | 115 | $195,000 | $75,000 | 3.5% | — | — | 9.2% | $541,287 |
| Cumberland County | 534 | $265,000 | $92,000 | 20.0% | 6.625% | $4,610 | 7.4% | $541,287 |
| Davidson County | 7,387 | $405,000 | $127,000 | 10.2% | 6.500% | $5,460 | 7.6% | $1,029,250 |
| Decatur County | 71 | $185,000 | $77,000 | 5.0% | — | — | 7.5% | $541,287 |
| DeKalb County | 204 | $275,000 | $95,000 | 5.0% | 6.750% | $4,920 | 9.4% | $541,287 |
| Dickson County | 659 | $325,000 | $102,000 | 5.0% | 6.625% | $5,010 | 7.4% | $1,029,250 |
| Dyer County | 248 | $195,000 | $75,000 | 3.5% | 6.625% | $3,550 | 17.7% | $541,287 |
| Fayette County | 603 | $345,000 | $111,000 | 5.9% | 6.490% | $4,750 | 7.0% | $541,287 |
| Fentress County | 161 | $225,000 | $76,000 | 5.0% | 6.625% | $5,110 | 7.5% | $541,287 |
| Franklin County | 384 | $275,000 | $92,000 | 5.1% | 6.624% | $4,560 | 7.3% | $541,287 |
| Gibson County | 484 | $205,000 | $81,000 | 3.5% | 6.750% | $3,860 | 10.0% | $541,287 |
| Giles County | 268 | $245,000 | $80,000 | 5.0% | 6.625% | $5,490 | 6.2% | $541,287 |
| Grainger County | 172 | $295,000 | $104,000 | 10.0% | 6.865% | $5,380 | 5.1% | $541,287 |
| Greene County | 542 | $265,000 | $87,000 | 10.0% | 6.625% | $4,890 | 9.8% | $541,287 |
| Grundy County | 86 | $235,000 | $86,000 | 9.2% | — | $4,130 | 15.7% | $541,287 |
| Hamblen County | 550 | $275,000 | $89,000 | 5.0% | 6.625% | $5,290 | 8.3% | $541,287 |
| Hamilton County | 4,010 | $325,000 | $115,000 | 10.0% | 6.625% | $5,320 | 5.7% | $541,287 |
| Hancock County | 29 | — | — | — | — | — | 23.1% | $541,287 |
| Hardeman County | 115 | $195,000 | $72,000 | 3.5% | — | — | 9.9% | $541,287 |
| Hardin County | 205 | $215,000 | $76,000 | 4.2% | 6.500% | $4,720 | 4.5% | $541,287 |
| Hawkins County | 404 | $245,000 | $80,000 | 7.7% | 6.750% | $4,860 | 8.7% | $541,287 |
| Haywood County | 89 | $185,000 | $71,000 | 3.5% | — | — | 14.1% | $541,287 |
| Henderson County | 160 | $225,000 | $79,000 | 4.7% | 6.625% | $3,970 | 7.6% | $541,287 |
| Henry County | 208 | $235,000 | $87,000 | 10.0% | 6.750% | $4,400 | 12.7% | $541,287 |
| Hickman County | 193 | $285,000 | $93,000 | 5.0% | 6.625% | $5,140 | 12.6% | $1,029,250 |
| Houston County | 82 | $255,000 | $88,000 | 3.5% | — | — | 11.3% | $541,287 |
| Humphreys County | 182 | $235,000 | $87,000 | 3.5% | 6.500% | $4,920 | 7.2% | $541,287 |
| Jackson County | 74 | $245,000 | $80,000 | 5.0% | — | $4,620 | 9.5% | $541,287 |
| Jefferson County | 532 | $295,000 | $95,000 | 5.0% | 6.500% | $5,640 | 8.5% | $541,287 |
| Johnson County | 87 | $255,000 | $95,000 | 5.0% | 6.625% | $4,920 | 11.8% | $541,287 |
| Knox County | 5,580 | $345,000 | $115,000 | 10.0% | 6.625% | $6,030 | 5.8% | $541,287 |
| Lake County | 34 | $135,000 | $60,000 | 3.5% | — | — | 15.0% | $541,287 |
| Lauderdale County | 126 | $185,000 | $65,000 | 3.5% | — | $4,020 | 15.8% | $541,287 |
| Lawrence County | 354 | $255,000 | $83,000 | 5.0% | 6.500% | $5,460 | 6.7% | $541,287 |
| Lewis County | 107 | $265,000 | $88,000 | 5.0% | 6.625% | $6,720 | 10.7% | $541,287 |
| Lincoln County | 330 | $245,000 | $84,000 | 5.0% | 6.624% | $4,630 | 5.3% | $541,287 |
| Loudon County | 821 | $365,000 | $127,000 | 20.0% | 6.625% | $5,840 | 5.9% | $541,287 |
| McMinn County | 499 | $255,000 | $83,000 | 5.0% | 6.625% | $4,640 | 8.5% | $541,287 |
| McNairy County | 186 | $195,000 | $78,000 | 4.8% | 6.625% | $4,460 | 10.6% | $541,287 |
| Macon County | 249 | $285,000 | $88,000 | 3.5% | 6.625% | $4,730 | 12.0% | $1,029,250 |
| Madison County | 772 | $255,000 | $91,000 | 5.0% | 6.625% | $3,810 | 7.2% | $541,287 |
| Marion County | 244 | $265,000 | $96,000 | 5.5% | 6.625% | $4,750 | 6.2% | $541,287 |
| Marshall County | 540 | $285,000 | $91,000 | 5.0% | 6.500% | $4,620 | 9.4% | $541,287 |
| Maury County | 1,703 | $355,000 | $112,000 | 10.0% | 6.500% | $4,840 | 6.8% | $1,029,250 |
| Meigs County | 79 | $305,000 | $116,000 | 12.1% | — | $5,990 | 7.8% | $541,287 |
| Monroe County | 344 | $275,000 | $92,000 | 5.0% | 6.625% | $5,440 | 9.7% | $541,287 |
| Montgomery County | 3,969 | $315,000 | $95,000 | 3.2% | 6.500% | $5,600 | 6.5% | $541,287 |
| Moore County | 71 | $305,000 | $102,000 | 5.0% | — | $6,680 | 9.6% | $541,287 |
| Morgan County | 108 | $255,000 | $93,000 | 5.0% | — | $6,040 | 10.7% | $541,287 |
| Obion County | 211 | $175,000 | $78,000 | 3.6% | 6.625% | $3,370 | 10.7% | $541,287 |
| Overton County | 178 | $255,000 | $86,000 | 6.5% | 6.625% | $4,280 | 6.2% | $541,287 |
| Perry County | 39 | $265,000 | $83,000 | 5.0% | — | — | 15.2% | $541,287 |
| Pickett County | 21 | — | — | — | — | — | — | $541,287 |
| Polk County | 96 | $255,000 | $92,000 | 5.0% | 6.875% | $5,150 | 11.4% | $541,287 |
| Putnam County | 703 | $305,000 | $97,000 | 10.0% | 6.625% | $4,690 | 5.3% | $541,287 |
| Rhea County | 279 | $275,000 | $93,000 | 5.0% | 6.650% | $5,020 | 11.1% | $541,287 |
| Roane County | 621 | $305,000 | $105,000 | 6.0% | 6.625% | $5,770 | 7.6% | $541,287 |
| Robertson County | 1,108 | $345,000 | $100,000 | 5.0% | 6.500% | $4,030 | 6.8% | $1,029,250 |
| Rutherford County | 4,311 | $385,000 | $110,000 | 6.8% | 6.500% | $5,970 | 8.8% | $1,029,250 |
| Scott County | 140 | $225,000 | $80,000 | 3.5% | 6.625% | $4,770 | 9.2% | $541,287 |
| Sequatchie County | 147 | $305,000 | $107,000 | 10.1% | 6.625% | $5,440 | 12.5% | $541,287 |
| Sevier County | 701 | $345,000 | $110,000 | 10.0% | 6.625% | $5,720 | 10.8% | $541,287 |
| Shelby County | 5,881 | $285,000 | $102,000 | 5.0% | 6.500% | $5,090 | 9.2% | $541,287 |
| Smith County | 201 | $295,000 | $89,000 | 5.0% | 6.625% | $5,240 | 5.7% | $1,029,250 |
| Stewart County | 118 | $295,000 | $100,000 | 3.5% | — | $4,710 | 9.7% | $541,287 |
| Sullivan County | 1,693 | $245,000 | $87,000 | 5.0% | 6.750% | $4,580 | 8.9% | $541,287 |
| Sumner County | 2,922 | $365,000 | $117,000 | 10.0% | 6.500% | $5,480 | 6.8% | $1,029,250 |
| Tipton County | 535 | $275,000 | $91,000 | 3.5% | 6.500% | $4,760 | 6.6% | $541,287 |
| Trousdale County | 119 | $355,000 | $109,000 | 5.0% | 6.625% | $5,610 | 8.1% | $1,029,250 |
| Unicoi County | 134 | $245,000 | $87,000 | 7.2% | 6.750% | $5,130 | 11.9% | $541,287 |
| Union County | 204 | $285,000 | $92,000 | 9.2% | 6.500% | $4,890 | 8.8% | $541,287 |
| Van Buren County | 47 | $255,000 | $87,000 | 16.6% | — | $4,090 | 13.8% | $541,287 |
| Warren County | 329 | $255,000 | $83,000 | 5.0% | 6.625% | $4,890 | 8.7% | $541,287 |
| Washington County | 1,369 | $305,000 | $105,000 | 13.0% | 6.625% | $5,030 | 7.6% | $541,287 |
| Wayne County | 76 | $195,000 | $71,000 | 5.0% | — | $5,390 | 16.3% | $541,287 |
| Weakley County | 202 | $195,000 | $81,000 | 5.0% | 6.750% | $4,330 | 9.9% | $541,287 |
| White County | 260 | $255,000 | $82,000 | 7.8% | 6.625% | $4,620 | 11.3% | $541,287 |
| Williamson County | 3,439 | $665,000 | $212,000 | 20.0% | 6.625% | $6,390 | 5.6% | $1,029,250 |
| Wilson County | 2,547 | $405,000 | $128,000 | 10.0% | 6.490% | $5,010 | 6.9% | $1,029,250 |
Who bought homes in Tennessee
Home-purchase mortgages for owner-occupied, single-family (1–4 unit) site-built homes, first liens, originated in 2025.
Values are medians; "middle half" is the 25th to 75th percentile.
Loan type
What the homes were for
All first-lien, closed-end purchase mortgages, including second homes and investors.
Borrower age
Debt-to-income ratio
Monthly debts (including the new payment) as a share of income, as used in underwriting.
What borrowing cost in Tennessee
Medians for 2025 home-purchase loans. Total loan costs are section D of the Loan Estimate/Closing Disclosure (lender and third-party loan charges, excluding taxes, prepaids and escrow). FHA and VA costs include the upfront mortgage insurance premium or VA funding fee, so compare like with like.
| Measure | Tennessee | U.S. |
|---|---|---|
| 30-year fixed rate · conventional | 6.624% | 6.625% |
| 30-year fixed rate · FHA | 6.250% | 6.250% |
| 30-year fixed rate · VA | 6.125% | 6.125% |
| 15-year fixed rate · conventional | 5.875% | 5.875% |
| Rate spread vs. APOR · conventional | +0.11 pts | +0.13 pts |
| Total loan costs · conventional | $5,320 | $5,570 |
| Total loan costs · FHA | $11,030 | $11,310 |
| Total loan costs · VA | $6,110 | $6,490 |
| Origination charges (all loan types) | $2,080 | $1,860 |
| Borrowers paying discount points | 55.6% | 51.3% |
| Points paid, when paid (% of loan) | 0.89% | 0.87% |
| Borrowers receiving lender credits | 30.1% | 33.1% |
| Adjustable-rate mortgages | 6.6% | 7.4% |
| Jumbo loans (above conforming limit) | 3.2% | 3.8% |
Medians are shown only when at least 30 loans report the field. Rates are those reported at closing; market rates changed during 2025, which the rate spread (APR minus the average prime offer rate on the lock date) adjusts for.
Approvals and denials
Tennessee: 6,067 of 78,960 completed home-purchase applications were denied (7.7%).
Denial rate
| Application | Tennessee | U.S. |
|---|---|---|
| Home purchase | 7.7% | 8.5% |
| Conventional | 6.6% | 7.1% |
| FHA | 10.3% | 12.5% |
| VA | 7.2% | 8.0% |
| USDA | 11.6% | 12.5% |
| Refinance | 16.3% | 17.9% |
| Cash-out refinance | 30.7% | 33.6% |
Main reason for purchase denials
First reason the lender reported.
Denial rate = denied ÷ (originated + approved but not accepted + denied). Withdrawn and incomplete applications are excluded. Differences between places reflect who applies, not only lender behavior.
Refinancing in Tennessee
Top mortgage lenders in Tennessee
| # | Lender | Loans | Share | Denial rate | 30-yr rate* | Spread* | Costs* |
|---|---|---|---|---|---|---|---|
| 1 | Rocket Mortgage, LLC | 8,186 | 7.8% | 13.1% | 6.625% | +0.18 | $6,070 |
| 2 | United Wholesale Mortgage (UWM) | 7,788 | 7.4% | 7.1% | 6.599% | +0.16 | $6,860 |
| 3 | CMG Mortgage, Inc. | 3,051 | 2.9% | 2.3% | 6.625% | +0.20 | $6,160 |
| 4 | Veterans United Home Loans | 2,945 | 2.8% | 7.6% | 6.500% | −0.03 | $940 |
| 5 | Mortgage Investors Group, Inc. | 2,816 | 2.7% | 2.8% | 6.625% | +0.19 | $5,210 |
| 6 | Freedom Mortgage Corporation | 2,334 | 2.2% | 16.1% | 6.750% | +0.19 | $8,100 |
| 7 | FirstBank | 2,211 | 2.1% | 4.4% | 6.625% | +0.15 | $4,880 |
| 8 | First Community Mortgage, Inc. | 2,210 | 2.1% | 5.1% | 6.500% | +0.10 | $6,180 |
| 9 | Pennymac Loan Services, LLC | 2,167 | 2.1% | 12.6% | 6.624% | +0.18 | $6,610 |
| 10 | DHI Mortgage Company, Ltd. | 1,933 | 1.8% | 11.8% | 5.990% | −0.54 | $2,380 |
| 11 | loanDepot.com, LLC | 1,651 | 1.6% | 14.9% | 5.500% | −0.67 | $6,810 |
| 12 | CrossCountry Mortgage, Inc. | 1,609 | 1.5% | 3.6% | 6.875% | +0.42 | $7,060 |
| 13 | Movement Mortgage, LLC | 1,587 | 1.5% | 3.2% | 6.625% | +0.14 | $5,350 |
| 14 | Rate | 1,480 | 1.4% | 4.1% | 6.575% | +0.17 | $6,140 |
| 15 | Pinnacle Bank | 1,349 | 1.3% | 8.1% | 6.375% | −0.01 | $5,090 |
| 16 | Regions Bank | 1,349 | 1.3% | 13.3% | 6.625% | +0.10 | $4,320 |
| 17 | Fairway Independent Mortgage Corporation | 1,246 | 1.2% | 3.2% | 6.750% | +0.30 | $6,360 |
| 18 | Union Home Mortgage Corp. | 1,103 | 1.1% | 4.3% | 6.625% | +0.26 | $5,930 |
| 19 | Newrez LLC | 1,099 | 1.0% | 6.7% | 6.625% | +0.23 | $8,970 |
| 20 | New American Funding | 1,095 | 1.0% | 4.6% | 6.625% | +0.30 | $6,250 |
| 21 | Legacy Home Loans, LLC | 1,074 | 1.0% | 0.7% | 6.624% | +0.02 | $4,210 |
| 22 | JPMorgan Chase Bank, N.A. | 1,009 | 1.0% | 9.2% | 6.375% | −0.12 | $3,580 |
| 23 | Navy Federal Credit Union | 933 | 0.9% | 8.9% | 6.625% | −0.09 | $3,710 |
| 24 | Cadence Bank | 931 | 0.9% | 7.0% | 6.250% | −0.19 | $5,080 |
| 25 | Eastman Credit Union | 907 | 0.9% | 12.9% | 7.000% | +0.34 | $4,540 |
Largest lenders in Tennessee by 2025 originations. Loans = home-purchase, refinance and cash-out originations (2025); share = share of those loans here; denial rate = home-purchase applications. *Medians for conventional home-purchase loans, shown with at least 20 loans; spread = APR minus the average prime offer rate at rate lock (percentage points); costs = total loan costs (section D).
Metro areas in Tennessee
- Nashville-Davidson--Murfreesboro--Franklin, TN · 25,475 purchases
- Knoxville, TN · 10,166 purchases
- Memphis, TN-MS-AR · 10,296 purchases
- Chattanooga, TN-GA · 5,947 purchases
- Clarksville, TN-KY · 4,754 purchases
- Kingsport-Bristol, TN-VA · 2,709 purchases
- Johnson City, TN · 1,915 purchases
- Jackson, TN · 1,521 purchases
- Cleveland, TN · 1,203 purchases
- Morristown, TN · 1,082 purchases
Source: FFIEC/CFPB HMDA 2025 public LAR; FHFA and HUD 2026 loan limits. Methodology