Assumable mortgages in Tennessee
328,920 homes in Tennessee carry an assumable FHA or VA loan, at an average rate of 4.74%. With a new loan costing 7.30% today, that's about $249 a month a buyer doesn't pay, at the same cash to close. Most of these homes aren't for sale, which is the part nobody counts.
RetroRate data as of October 15, 2026
Off-market coverage · counts of all homes with a mortgage carrying an assumable loan
Tennessee at a glance
- Homes with an assumable loan That aren't for sale
- 328,920
- Average balance Across the whole stock
- $215,015
- Average assumable rate
- 4.74%
- average 30-year fixed rate As of Oct 2026
- 7.30%
- Average savings a month At the same cash to close
- $249
- Under 4% The ones worth assuming
- 41.6%
What rates they're carrying
The spread is the story. A loan under 3% is a different asset from one at 4.9%, and Tennessee has both.
| Rate | Homes | Share |
|---|---|---|
| Under 3% | 33,176 | 10.1% |
| 3% to 3.99% | 103,726 | 31.5% |
| 4% to 4.99% | 66,519 | 20.2% |
| 5% and up | 125,499 | 38.2% |
Tennessee markets
Every market we publish in the state, by the number of homes carrying an assumable loan.
| Memphis | 26,182 | 5.24% | $111 | Off-market only |
|---|---|---|---|---|
| Clarksville | 25,308 | 4.76% | $282 | Off-market only |
| Knoxville | 22,125 | 4.63% | $243 | Off-market only |
| Nashville | 18,448 | 4.77% | $262 | Off-market only |
| Murfreesboro | 13,404 | 4.51% | $325 | Off-market only |
| Chattanooga | 10,191 | 4.51% | $232 | Off-market only |
| Cordova | 8,104 | 4.48% | $255 | Off-market only |
Where assumption saves the most in Tennessee
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$325 /mo
Murfreesboro has 13,404 homes carrying an assumable loan, averaging 4.51%. Taking one over saves about that much a month against a new loan at today's rate, at the same cash to close.
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$282 /mo
Clarksville has 25,308 homes carrying an assumable loan, averaging 4.76%. Taking one over saves about that much a month against a new loan at today's rate, at the same cash to close.
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$262 /mo
Nashville has 18,448 homes carrying an assumable loan, averaging 4.77%. Taking one over saves about that much a month against a new loan at today's rate, at the same cash to close.
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$255 /mo
Cordova has 8,104 homes carrying an assumable loan, averaging 4.48%. Taking one over saves about that much a month against a new loan at today's rate, at the same cash to close.
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$243 /mo
Knoxville has 22,125 homes carrying an assumable loan, averaging 4.63%. Taking one over saves about that much a month against a new loan at today's rate, at the same cash to close.
Assumable mortgages in Tennessee: common questions
General questions about assumables live on the FAQ.
- How many homes in Tennessee have an assumable mortgage?
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328,920 homes in Tennessee carry an assumable FHA or VA loan, as of October 15, 2026. 41.6% of them are under 4%, which is where the real advantage sits against a new loan today. Most of them aren't for sale: an assumable loan is a feature of the mortgage, not of the listing, so it sits there whether or not the owner is moving.
- What interest rate do assumable loans in Tennessee carry?
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The average is 4.74%, against 7.30% for a new loan today. The spread is the whole point: a buyer who assumes one keeps the seller's rate instead of taking today's.
Rates vary inside that average, which is why the distribution on this page is worth a look. A loan under 3% is a different asset from one at 4.9%.
- How much does assuming a mortgage in Tennessee save?
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About $249 a month on the average loan here, at the same cash to close. That compares the payment on the existing loan with a new loan for the same amount at 7.30%.
Assumable loan savings scale with two things: the gap between the seller's rate and today's, and how much balance is left to take over. The calculator on this page lets you try your own figures.
Principal and interest only. Taxes, insurance and mortgage insurance vary and aren't included, and the buyer still qualifies with the loan's servicer.
- Are there assumable homes for sale in Tennessee right now?
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We publish on-market counts in markets where we license listing data. Tennessee isn't one yet, so the count on this page covers homes carrying an assumable loan whether or not they're listed.
The free VHS browser extension shows you which listings come with one, listing by listing, anywhere in the country.
- How do I find assumable listings in Tennessee?
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Install the free VHS browser extension. It flags the listings that come with an assumable loan while you browse the sites you already use, and shows the rate and the payment side by side with a new loan.
Fewer than one listing in ten that has an assumable loan says so in the remarks, so searching for the word "assumable" finds a fraction of what's actually there.
- How do agents in Tennessee get RetroRate?
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We're not inside an MLS here yet, which changes nothing about what your brokerage can do. The data doesn't depend on the MLS: you get the full search, the broker dashboard, the pre-listing check and the Verification of Loan (VOL) report wherever you operate.
Where we are integrated, assumable shows up as a field inside the MLS itself. Book a demo and we'll show you both.
- Who qualifies to assume a mortgage in Tennessee?
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The same people who'd qualify for a new FHA or VA loan: the servicer underwrites the buyer against the loan program's own standards, not the seller's original file. A VA loan can be assumed by a buyer who isn't a veteran, which is the part most people get wrong.
Qualifying is between the buyer and the servicer. RetroRate makes the software that finds and verifies these loans; it doesn't approve anyone.
- What about the difference between the price and the loan balance in Tennessee?
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The buyer covers it, with cash or a second loan. The average remaining balance here is $215,015, with about 25 years left on it.
That gap is why every savings figure on this page says "at the same cash to close": it compares two ways of buying the same home with the same money down, not a cheap purchase against an expensive one.
How to see them
See which listings in Tennessee come with an assumable loan, on the sites you already use. VHS is a free browser extension that flags them as you browse.
Want to use this data in an article?
Assumable loans are a good way to show the deals hiding in the markets you write about, and most of them are never mentioned in the listing. We can cut the Tennessee figures however your story needs them: one city, one ZIP code, or a few markets side by side.
For a custom report or a deep dive, email press@retrorate.com. See our press page for current and historical coverage.
For agents and brokers in Tennessee
We're not affiliated with an MLS in Tennessee yet, but we can still turn on broker and team marketing dashboards, search capabilities and more for you. Book a demo with us to learn more.
Our methodology
Counts cover homes with an assumable FHA or VA loan, whether or not they're for sale, as of October 15, 2026. They come from public data sources and county records.
Savings compare the assumable loan's payment with a new loan for the same amount at the average 30-year fixed rate of 7.30%, as of October 16, 2026, at the same cash to close. Principal and interest only: taxes, insurance and mortgage insurance vary and aren't included. A buyer still qualifies with the loan's servicer. Rate provided by Optimal Blue Mortgage Market Indices (OBMMI).
We publish on-market counts in markets where we license listing data. Tennessee isn't one yet. VHS shows you listing by listing.
Savings assume 25 years left on the loan.