Mortgage Rates in Farragut, Tennessee — March 2026
Updated March 2026 | Based on Farragut market data and regional lending conditions
Farragut is a growing city in Tennessee with a population of 23,888. The current 30-year fixed mortgage rate in Farragut is 6.72%, which is 0.07% above the national average. With a median home price of $258,000 and a 20% down payment of $51,600, homebuyers can expect a monthly principal and interest payment of approximately $1,335.
Current Mortgage Rates in Farragut, TN
Below are the current average mortgage rates available in the Farragut area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.72% | 6.65% | +0.07% |
| 15-Year Fixed | 5.97% | 5.89% | +0.08% |
| 5/1 ARM | 6.23% | 6.15% | +0.08% |
| FHA | 6.49% | 6.25% | +0.24% |
| VA | 6.24% | 6.05% | +0.19% |
| Jumbo | 6.97% | 6.85% | +0.12% |
Farragut Housing Market Overview
The Farragut housing market offers relatively affordable housing compared to many major cities. The median household income in Farragut is $55,300, and the cost of living index is 92.2 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $62,914 to comfortably afford the median-priced home in Farragut, which exceeds the current median household income.
Monthly Payment Breakdown for Farragut
Based on the median home price of $258,000 with 20% down ($51,600), here is what you can expect to pay monthly in Farragut:
15-Year vs. 30-Year Mortgage in Farragut
Choosing a 15-year mortgage in Farragut at 5.97% instead of a 30-year at 6.72% would save you $167,760 in total interest over the life of the loan. However, your monthly payment would be $1,738 instead of $1,335 — an increase of $403 per month.
Calculate Your Farragut Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Farragut
What are the current mortgage rates in Farragut, TN?
As of March 2026, the average 30-year fixed mortgage rate in Farragut, Tennessee is 6.72%, while the 15-year fixed rate is 5.97%. FHA loans average 6.49% and VA loans 6.24%. These rates are 0.07% above the national average of 6.65%.
How much is a monthly mortgage payment in Farragut?
Based on the median home price of $258,000 with 20% down, the estimated monthly mortgage payment in Farragut is $1,335 for principal and interest. Including property taxes of $133/month, the total monthly housing cost is approximately $1,468.
What income do I need to buy a home in Farragut?
Using the 28% rule, you would need an annual income of approximately $62,914 to afford the median-priced home in Farragut at $258,000. The median household income in Farragut is $55,300. This means most households would need to either earn above the median or consider homes below $258,000.
Is Farragut a good place to buy a home in 2026?
Farragut offers a below-average cost of living with a cost of living index of 92.2 (national average = 100). The property tax rate in Tennessee is 0.62%, which is below the national average. Farragut has a population of 23,888 and offers a very affordable lifestyle.
Mortgage Rates in Other Tennessee Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Farragut, Tennessee area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.