Mortgage Rates in Savannah, Tennessee — March 2026
Updated March 2026 | Based on Savannah market data and regional lending conditions
Savannah is a growing city in Tennessee with a population of 7,069. The current 30-year fixed mortgage rate in Savannah is 6.63%, which is 0.02% below the national average. With a median home price of $217,000 and a 20% down payment of $43,400, homebuyers can expect a monthly principal and interest payment of approximately $1,112.
Current Mortgage Rates in Savannah, TN
Below are the current average mortgage rates available in the Savannah 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 | 6.63% | 6.65% | -0.02% |
| 15-Year Fixed | 5.89% | 5.89% | 0% |
| 5/1 ARM | 6.18% | 6.15% | +0.03% |
| FHA | 6.44% | 6.25% | +0.19% |
| VA | 6.19% | 6.05% | +0.14% |
| Jumbo | 6.88% | 6.85% | +0.03% |
Savannah Housing Market Overview
The Savannah housing market offers relatively affordable housing compared to many major cities. The median household income in Savannah is $58,500, and the cost of living index is 86.7 (national average = 100). Based on the 28% affordability rule, the median income in Savannah is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Savannah
Based on the median home price of $217,000 with 20% down ($43,400), here is what you can expect to pay monthly in Savannah:
15-Year vs. 30-Year Mortgage in Savannah
Choosing a 15-year mortgage in Savannah at 5.89% instead of a 30-year at 6.63% would save you $138,420 in total interest over the life of the loan. However, your monthly payment would be $1,455 instead of $1,112 — an increase of $343 per month.
Calculate Your Savannah 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 Savannah
What are the current mortgage rates in Savannah, TN?
As of March 2026, the average 30-year fixed mortgage rate in Savannah, Tennessee is 6.63%, while the 15-year fixed rate is 5.89%. FHA loans average 6.44% and VA loans 6.19%. These rates are 0.02% below the national average of 6.65%.
How much is a monthly mortgage payment in Savannah?
Based on the median home price of $217,000 with 20% down, the estimated monthly mortgage payment in Savannah is $1,112 for principal and interest. Including property taxes of $127/month, the total monthly housing cost is approximately $1,239.
What income do I need to buy a home in Savannah?
Using the 28% rule, you would need an annual income of approximately $53,100 to afford the median-priced home in Savannah at $217,000. The median household income in Savannah is $58,500. The median income is currently sufficient to meet this threshold.
Is Savannah a good place to buy a home in 2026?
Savannah offers a below-average cost of living with a cost of living index of 86.7 (national average = 100). The property tax rate in Tennessee is 0.7%, which is below the national average. Savannah has a population of 7,069 and offers a very affordable lifestyle.
Mortgage Rates in Other Tennessee Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Savannah, Tennessee area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.