Mortgage Rates in East Ridge, Tennessee — March 2026
Updated March 2026 | Based on East Ridge market data and regional lending conditions
East Ridge is a growing city in Tennessee with a population of 21,032. The current 30-year fixed mortgage rate in East Ridge is 6.83%, which is 0.18% above the national average. With a median home price of $260,000 and a 20% down payment of $52,000, homebuyers can expect a monthly principal and interest payment of approximately $1,360.
Current Mortgage Rates in East Ridge, TN
Below are the current average mortgage rates available in the East Ridge 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 | 6.83% | 6.65% | +0.18% |
| 15-Year Fixed | 6.06% | 5.89% | +0.17% |
| 5/1 ARM | 6.3% | 6.15% | +0.15% |
| FHA | 6.54% | 6.25% | +0.29% |
| VA | 6.29% | 6.05% | +0.24% |
| Jumbo | 7.08% | 6.85% | +0.23% |
East Ridge Housing Market Overview
The East Ridge housing market offers relatively affordable housing compared to many major cities. The median household income in East Ridge is $54,400, and the cost of living index is 87.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $64,414 to comfortably afford the median-priced home in East Ridge, which exceeds the current median household income.
Monthly Payment Breakdown for East Ridge
Based on the median home price of $260,000 with 20% down ($52,000), here is what you can expect to pay monthly in East Ridge:
15-Year vs. 30-Year Mortgage in East Ridge
Choosing a 15-year mortgage in East Ridge at 6.06% instead of a 30-year at 6.83% would save you $172,440 in total interest over the life of the loan. However, your monthly payment would be $1,762 instead of $1,360 — an increase of $402 per month.
Calculate Your East Ridge 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 East Ridge
What are the current mortgage rates in East Ridge, TN?
As of March 2026, the average 30-year fixed mortgage rate in East Ridge, Tennessee is 6.83%, while the 15-year fixed rate is 6.06%. FHA loans average 6.54% and VA loans 6.29%. These rates are 0.18% above the national average of 6.65%.
How much is a monthly mortgage payment in East Ridge?
Based on the median home price of $260,000 with 20% down, the estimated monthly mortgage payment in East Ridge is $1,360 for principal and interest. Including property taxes of $143/month, the total monthly housing cost is approximately $1,503.
What income do I need to buy a home in East Ridge?
Using the 28% rule, you would need an annual income of approximately $64,414 to afford the median-priced home in East Ridge at $260,000. The median household income in East Ridge is $54,400. This means most households would need to either earn above the median or consider homes below $260,000.
Is East Ridge a good place to buy a home in 2026?
East Ridge offers a below-average cost of living with a cost of living index of 87.5 (national average = 100). The property tax rate in Tennessee is 0.66%, which is below the national average. East Ridge has a population of 21,032 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 East Ridge, Tennessee area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.