Closing costs
Closing costs in Tennessee
In Tennessee, a title or escrow company handles closing (no attorney required), and Tennessee levies a transfer/deed tax of about 0.37%, customarily buyer-paid. $0.37/$100, uniform; buyer (grantee, statutory). T.C.A. §67-4-409. Here's roughly what you'll pay and what each line is.
How much are closing costs in Tennessee?
Estimated buyer closing costs in Tennessee (on top of your down payment), for a single-family home with 10% down and good credit:
| Home price | Estimated closing costs |
|---|---|
| $300,000 | $6,641–$9,391 |
| $400,000 | $8,438–$11,738 |
| $500,000 | $10,235–$14,085 |
Illustrative estimates — a single-family home, conventional loan, 10% down, good credit. Your real figures come from your Loan Estimate and Closing Disclosure.
What's in your closing costs
- Lender fees — loan origination (~0.5–1% of the loan), plus the appraisal.
- Title insurance — a lender's policy (and usually an owner's policy) protecting against title defects.
- Prepaids & escrow — a year of homeowners insurance plus a couple months of property-tax escrow set aside up front.
- Recording & settlement — county recording fees plus the settlement agent (or attorney) who runs the closing.
Who closes, and transfer taxes, in Tennessee
Tennessee is a title/escrow state — a title or escrow company handles closing, so there's no attorney fee.
Tennessee levies a transfer/deed tax of about 0.37%, customarily buyer-paid. $0.37/$100, uniform; buyer (grantee, statutory). T.C.A. §67-4-409
The FHA loan limit in Tennessee is about $541,287.
Plan for the full cash to close
Closing costs are only part of the cash you'll need. The down payment is the rest. Map your full savings target:
See your real numbers for Tennessee
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