Not financial advice. Mortgage FV Calculator is a software calculator, not a personal-finance product or advisory service. It computes standard financial functions and displays the results for your convenience. Nothing here constitutes, or is intended to constitute, financial, investment, tax, legal, mortgage, credit, or insurance advice. Always consult a qualified professional before making any financial decision.
Franklin mortgage calculator
A median-priced Franklin, TN home at 6.75% over 30 years, with Tennessee property tax of 0.58% and $2,400 a year of homeowners insurance. Every figure below is computed on our amortising engine — nothing is estimated in the browser.
$4,486 a month, all in
Principal and interest are $3,715; escrow and PMI add the rest. Over the full term the loan costs $764,728 in interest. Discounted at 5%, buying here has a net present value of $3,210 ($369,412 in today’s dollars).
Within Tennessee, Franklin is the most expensive of the 5 Tennessee markets covered here. Prices here run 3.17x those in Memphis, the cheapest market listed, so a statewide average badly understates what a purchase costs on this side of the state.
Franklin carries a premium over the rest of Tennessee: a median home here runs $636,500, about 90% above the state median of $335,000. The deposit moves with it, so the same 20% down is $127,300 rather than $67,000.
Prices here have run ahead of rents: the local price index sits at 1.90 against a rent index of 1.45. A market where buying costs rise faster than renting does is one where the rent-vs-buy answer leans later — you need a longer hold before ownership wins.
Monthly cost in Franklin vs comparable rent
Owning is stacked by component; renting is the local median asking rent.
The monthly breakdown
| Median home price | $636,500 |
|---|---|
| Down payment (10%) | $63,650 |
| Loan amount | $572,850 |
| Principal & interest | $3,715/mo |
| Property tax (0.58%) | $308/mo |
| Homeowners insurance | $200/mo |
| PMI while above 80% LTV | $263/mo |
| Total monthly payment | $4,486/mo |
| Comparable rent | $2,393/mo |
What a rate move does to the Franklin payment
| Rate | Principal & interest |
|---|---|
| 5.5% | $3,253/mo |
| 6% | $3,435/mo |
| 6.5% | $3,621/mo |
| 7% | $3,811/mo |
| 7.5% | $4,005/mo |
| 8% | $4,203/mo |
Rent or buy in Franklin?
Against $2,393 a month in rent, over 7 years renting leaves you about $134,470 better off — $113,125 once 2.5% inflation is stripped out. See the Tennessee rent-vs-buy page.
Where these numbers come from
Tennessee medians come from editorial and are refreshed weekly. The Franklin figures index those state medians to the local market, so they track the same feed rather than going stale. Insurance and the state income tax rate are editorial. Treat everything here as a planning estimate, not a quote.