Jumbo loan snapshot for Tennessee
| Item | Estimate |
|---|---|
| Minimum down payment | 10%–20% |
| Minimum credit score | 700+ |
| Typical TN home value | $256,800 |
| 3.5% down on typical home | $8,988 |
| 20% down on typical home | $51,360 |
| Avg. effective property tax | 0.55%/yr (~$117/mo) |
| Income for typical home (31% rule) | $78,000 |
Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.
Which Tennessee programs pair with Jumbo loans?
- Great Choice Home Loan: A fixed-rate first mortgage for buyers within income and price limits.
- Great Choice Plus: Down payment assistance as a deferred or amortizing second loan.
Details and current limits: Tennessee Housing Development Agency (THDA).
Jumbo loan requirements
- Credit: 700–720 minimum at many lenders.
- DTI: often 43% or lower.
- Reserves: 6–12+ months of principal, interest, taxes and insurance.
- Full documentation; sometimes two appraisals for very large loans.
Alternatives to a jumbo loan
Some buyers use a 'piggyback' structure — a conforming first mortgage plus a second loan — to avoid jumbo requirements. A larger down payment that brings the loan under the conforming limit is another option.
Jumbo loans in Tennessee cities
Frequently asked questions
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Get My MatchesFigures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.