Calculate Your Payments

Sale Price of Home:
Percentage Down:
Mortgage Interest Rate:
Length of Mortgage:
Assessed Home Value:

The assessed value is used to compute property taxes. In the State of Tennessee, the Assessment Ratio for the different classes of property is established by state law (residential and farm @ 25% of appraised value, commercial/industrial @ 40% of appraised value).

County Taxes: (per $100)

In Madison County, the county property tax is $2.31 for every $100 of the assessed home value.

City Taxes: (per $100)

In Jackson TN, the city property tax is $2.10 for every $100 of the assessed home value.

Other Monthly Fee(s):
Explain Calculations: Show the calculations and amortization
 

This mortgage calculator can be used to estimate the monthly payment of a home mortgage loan. The calculator automatically factors in PMI for loans where less than 20% is put as a down payment. Also taken into consideration are city and county property taxes based on the mortgaged property's assessed valued.

Note: The monthly payment generated by this program is not guaranteed and should only be used to estimate the monthly payment based only on the data used to compute it. Other unknown factors, like school district taxes, special taxes, etc. can greatly affect the calculated monthly payment.