Mortgage Refinance Rates in Tennessee (2026)
With Tennessee's median value near $360,000, a homeowner refinancing a typical $245,000 balance from about 7.50% to 6.25% saves roughly $205/month — breaking even on ~$6,125 of costs near month 30.
Most Tennessee owners have built real equity. A cash-out refinance can tap up to 80% of value, and a rate-and-term refinance simply lowers the payment. Tennessee uses the $806,500 conforming baseline statewide.
Refinance snapshot by Tennessee county
| County | Est. Value | 2026 Conforming Limit | Tier |
|---|---|---|---|
| Shelby County | $210,000 | $806,500 | Baseline |
| Davidson County | $460,000 | $806,500 | Baseline |
| Knox County | $360,000 | $806,500 | Baseline |
| Hamilton County | $330,000 | $806,500 | Baseline |
| Rutherford County | $420,000 | $806,500 | Baseline |
| Williamson County | $760,000 | $806,500 | Baseline |
| Montgomery County | $360,000 | $806,500 | Baseline |
| Sumner County | $360,000 | $806,500 | Baseline |
| Sevier County | $360,000 | $806,500 | Baseline |
| Wilson County | $360,000 | $806,500 | Baseline |
| Blount County | $360,000 | $806,500 | Baseline |
| Washington County | $360,000 | $806,500 | Baseline |
| Madison County | $360,000 | $806,500 | Baseline |
| Bradley County | $360,000 | $806,500 | Baseline |
| Maury County | $360,000 | $806,500 | Baseline |
| Sullivan County | $360,000 | $806,500 | Baseline |
| Anderson County | $360,000 | $806,500 | Baseline |
| Robertson County | $360,000 | $806,500 | Baseline |
| Putnam County | $360,000 | $806,500 | Baseline |
| Greene County | $360,000 | $806,500 | Baseline |
| Hamblen County | $360,000 | $806,500 | Baseline |
| Bedford County | $360,000 | $806,500 | Baseline |
| Dickson County | $360,000 | $806,500 | Baseline |
| Carter County | $360,000 | $806,500 | Baseline |
| Coffee County | $360,000 | $806,500 | Baseline |
| Cumberland County | $360,000 | $806,500 | Baseline |
| McMinn County | $360,000 | $806,500 | Baseline |
| Loudon County | $360,000 | $806,500 | Baseline |
Should you refinance in Tennessee?
It comes down to your break-even. Take your closing costs (often 2-5% of the balance) and divide by your monthly savings — if you will stay in the home past that month count, refinancing usually wins. Cash-out makes sense when the rate and use of funds beat your other borrowing options.
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Frequently Asked Questions
- How much can refinancing save in Tennessee?
- On a $245,000 balance near the Tennessee median, dropping from ~7.50% to 6.25% saves about $205/month. Your figure depends on your current rate and balance.
- What is the conforming loan limit in Tennessee for 2026?
- Most Tennessee counties use the $806,500 baseline; high-cost counties go up to $1,209,750. Above that, refinances are jumbo loans.