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Mortgage Calculator &
Closing Costs: Gallatin, TN

Mortgage payment estimates, closing cost breakdowns, and homebuying data for Gallatin, Tennessee.

Median Home Price
$385K
Population
44K
Avg Monthly Rent
$1,520
Property Tax Rate
0.56%
Gallatin vs Tennessee Median
The median home price in Gallatin is $385,000, which is 13% above the Tennessee state median of $340,000.

Mortgage Calculator — Gallatin, TN

Pre-filled with Gallatin median home price and Tennessee tax/insurance rates. Adjust for your property.

$
$77,000
%
%
years
TN avg
%
$
Monthly Payment (PITI)
$2,326
Principal + Interest + Tax + Insurance + PMI
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Principal & Interest
$1,947
per month
Taxes & Insurance
$380
per month
Total Interest Paid
$393K
over 30 years
Total Loan Cost
$701K
all payments
Payment Breakdown
Loan Amount$308,000
Principal & Interest$1,947
Property Taxes$180
Homeowners Insurance$200
Total Monthly PITI$2,326

Closing Costs — Gallatin, TN

Estimated closing costs based on Tennessee rates and fees applied to Gallatin prices.

$
%
Tennessee: Avg closing costs 1.5% of price. Transfer tax: 0.37%.
Estimated Closing Costs
$12,800
3.3% of purchase price
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Lender Fees
$3,197
origination, underwriting
Third-Party
$3,375
appraisal, title, inspection
Government Fees
$1,425
transfer taxes, recording
Prepaids + Escrow
$4,804
taxes, insurance, interest
Itemized Costs
Loan Origination (0.8%)$2,772
Underwriting Fee$350
Credit Report$75
Appraisal$550
Home Inspection$450
Title Search + Insurance$2,225
Recording Fee$150
Transfer Tax$1,425
Prepaid Taxes (3 mo)$539
Prepaid Insurance (12 mo)$2,400
Prepaid Interest (15 days)$926
Escrow Reserves$939
Total Closing Costs$12,800

Buying a Home in Gallatin, Tennessee

The median home price in Gallatin is $385,000, 13% above the Tennessee state median of $340,000. With a population of 44,358, Gallatin is a smaller market where home prices reflect strong demand and local economic factors.

Property taxes in Tennessee average 0.56% annually. This low property tax rate is a significant advantage for Gallatin buyers, keeping your monthly costs well below what you'd pay in higher-tax states. Homeowners insurance in Tennessee runs approximately $2,400 per year. This is within the normal range nationally.

Average rent in Gallatin is $1,520/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.

Gallatin presents moderate affordability. The $385K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.

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Compare total costs of renting vs buying in Gallatin.
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