Tennessee's #1 Reverse Mortgage*

Reverse Mortgages in Tennessee: A Comprehensive Guide

If you’re a Tennessee homeowner aged 62 or older, a reverse mortgage could be a valuable tool to help you unlock the equity in your home and improve your financial security during retirement. In this guide, we’ll cover everything you need to know about reverse mortgages in Tennessee, including key facts, the latest statistics, top lenders, and essential protections.

How this data was derived: Reverse mortgage counts reflect FHA-insured HECM loans endorsed over a rolling 12-month period (Dec 2024–Nov 2025) using HUD HECM Snapshot data. Active lenders represent unique FHA sponsor numbers with at least one endorsed loan during this period. Estimated homeowners age 62+ are based on U.S. Census ACS 5-year owner-occupied households age 65+ as a conservative proxy. Home values are sourced from Zillow’s Home Value Index (latest available).

Top Reverse Mortgage Lenders in Tennessee

Tennessee Reverse Mortgage Lending Limits

Tennessee, part of the Southeastern United States, ranks as the 16th most populous state and the 36th largest by geography. As of 2026, the state’s population is approximately 7.2 million, with around 1.4 million homeowners aged 62 or older, making them potential candidates for reverse mortgages.

History and Economic Overview

Known as “The Volunteer State”, Tennessee earned its nickname during both the War of 1812 and the Mexican-American War, when large numbers of volunteers from the state enlisted to serve. Tennessee has played an essential role in U.S. history and is home to rich cultural and musical heritage, particularly in Nashville, often referred to as “Music City.”

Tennessee’s economy is driven by healthcare, automotive manufacturing, and tourism. Major employers in the state include FedEx, Nissan, and Vanderbilt University Medical Center.

Climate and Geography

Most of Tennessee enjoys a humid subtropical climate, which appeals to many retirees, including “snowbirds” who flock to the state for its mild winters. Clingmans Dome, located on the eastern border along the Appalachian Trail, is the highest point in the state at 6,643 feet, and the highest peak east of the Mississippi River.

Tennessee’s lack of a state income tax is another key factor that attracts many to the state, especially retirees.

Largest Cities

Tennessee’s largest cities include:

• Memphis: Known for its role in blues music and its rich cultural heritage.
• Nashville: Home to the country music industry and a vibrant economy.
• Knoxville, Chattanooga, and Clarksville are also significant urban areas within the state.

Home Values and Reverse Mortgage Opportunities

As of January 2026, the average home value in Tennessee is $394,400, well within the federal reverse mortgage lending limit of $1,249,125 for Home Equity Conversion Mortgages (HECM). This means most homeowners in Tennessee are eligible to tap into their home’s equity through a reverse mortgage. For higher-valued properties, jumbo reverse mortgage programs offer additional borrowing power.

Did you know? Tennessee does not mandate in-person counseling. Visit our counseling page for a list of phone-based counseling agencies, and you can conduct your required counseling from the comfort of your home.

Additional Resources:
Reversemortgage.org NRMLA Members in Tennessee
HUD.GOV Approved Lenders Search