Mortgage Rates in Burns, Tennessee — March 2026
Updated March 2026 | Based on Burns market data and regional lending conditions
Burns is a smaller Tennessee community of 30,749 where the housing market reflects local economic conditions. The current 30-year fixed rate here is 6.89% (0.24% above the national average). The median home price of $260,000 translates to roughly $1,505/month with 20% down — requiring an income of about $64,500, which exceeds the local median of $48,000.
Current Mortgage Rates in Burns, TN
Below are the current average mortgage rates available in the Burns 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 | 6.89% | 6.65% | +0.24% |
| 15-Year Fixed | 6.1% | 5.89% | +0.21% |
| 5/1 ARM | 6.34% | 6.15% | +0.19% |
| FHA | 6.57% | 6.25% | +0.32% |
| VA | 6.32% | 6.05% | +0.27% |
| Jumbo | 7.14% | 6.85% | +0.29% |
Burns Housing Market Overview
At $260,000, Burns offers more affordable housing than most U.S. metros. The local cost of living index is 84.5 (100 = national average), and the median household income of $48,000 still requires careful budgeting at current rate levels.
Monthly Payment Breakdown for Burns
Based on the median home price of $260,000 with 20% down ($52,000), here is what you can expect to pay monthly in Burns:
15-Year vs. 30-Year Mortgage in Burns
Choosing a 15-year mortgage in Burns at 6.1% instead of a 30-year at 6.89% would save you $174,600 in total interest over the life of the loan. However, your monthly payment would be $1,766 instead of $1,368 — an increase of $398 per month.
Calculate Your Burns 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 Burns
What are the current mortgage rates in Burns, TN?
As of March 2026, the average 30-year fixed mortgage rate in Burns, Tennessee is 6.89%, while the 15-year fixed rate is 6.1%. FHA loans average 6.57% and VA loans 6.32%. These rates are 0.24% above the national average of 6.65%.
How much is a monthly mortgage payment in Burns?
Based on the median home price of $260,000 with 20% down, the estimated monthly mortgage payment in Burns is $1,368 for principal and interest. Including property taxes of $137/month, the total monthly housing cost is approximately $1,505.
What income do I need to buy a home in Burns?
Using the 28% rule, you would need an annual income of approximately $64,500 to afford the median-priced home in Burns at $260,000. The median household income in Burns is $48,000. This means most households would need to either earn above the median or consider homes below $260,000.
Is Burns a good place to buy a home in 2026?
Burns offers a below-average cost of living with a cost of living index of 84.5 (national average = 100). The property tax rate in Tennessee is 0.63%, which is below the national average. Burns has a population of 30,749 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 Burns, Tennessee area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.