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Dodge monthly mortgage insurance premiums (PMI) completely and secure the standard conventional baseline.
Explore programs requiring as little as 3% down conventional or 3.5% FHA, helping you buy sooner.
Optimize your existing debt service, lower your interest rate, or secure cash-out equity restructure.
Department of Veterans Affairs purchase loans offering 0% down payment and no monthly PMI for military.
Lock in lower interest rates with a 15-year fixed loan term to build massive equity quickly.
Finance non-owner occupied rental acquisitions or multi-unit house hacking with competitive investor pricing.
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Current Local Mortgage Rates
Sorted by lowest conforming purchase rate
Requires veteran or military eligibility
Loan amount is under conforming limits
| Loan Program | Today's Rate / APR | Points | Est. Payment | Action |
|---|---|---|---|---|
| Conventional 30-Yr FixedConforming | 6.936%APR 6.973% | 0 pts$0 | $1,949/moP&I $1,949 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 5.950%APR 6.720% | 0 pts$0 | $1,927/moP&I $1,789 · MI $138 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.067%APR 6.120% | 0 pts$0 | $1,780/moP&I $1,780 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 7.049%APR 7.129% | 0 pts$0 | $1,971/moP&I $1,971 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.688% | 0 pts$0 | $2,087/moP&I $2,087 · MI $0 | See details |
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Compare all 26 pre-computed scenario benchmarks
Scenario Program | Down Pct | Credit score | Today's Rate | APR | Points | P&I Payment | 3-Yr Metric Cost |
|---|---|---|---|---|---|---|---|
15-Year Conforming Purchase | 20% | 740 credit score | 6.067% | 6.120% | 0 pts ($0) | $2,499/mo | $50,262 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.092% | 6.166% | 0 pts ($0) | $3,128/mo | $70,281 |
Condo 10% Down | 10% | 720 credit score | 7.256% | 7.428% | 0 pts ($0) | $2,264/mo | $79,607 |
Conventional 10% Down | 10% | 720 credit score | 6.763% | 6.923% | 0 pts ($0) | $2,154/mo | $74,677 |
Conventional 20% Down | 20% | 740 credit score | 6.936% | 6.973% | 0 pts ($0) | $1,949/mo | $60,398 |
Conventional 5% Down | 5% | 700 credit score | 7.064% | 7.546% | 0 pts ($0) | $2,344/mo | $82,002 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.377% | 7.418% | 0 pts ($0) | $2,546/mo | $87,586 |
Conventional High Balance | 10% | 740 credit score | 7.013% | 7.046% | 0 pts ($0) | $2,210/mo | $75,186 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.827% | 7.205% | 0 pts ($0) | $2,337/mo | $84,392 |
Conventional Rate/Term Refi | 0% | 740 credit score | 7.049% | 7.129% | 0 pts ($0) | $2,464/mo | $83,940 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $3,041/mo | $72,511 |
FHA 3.5% Down | 3.5% | 680 credit score | 5.950% | 6.720% | 0 pts ($0) | $2,158/mo | $75,587 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,233/mo | $78,171 |
FHA Streamline Refi | 0% | 640 credit score | 6.070% | 6.842% | 0 pts ($0) | $2,265/mo | $79,681 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.021% | 7.266% | 0 pts ($0) | $2,334/mo | $84,699 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $2,306/mo | $45,144 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.688% | 0 pts ($0) | $1,956/mo | $62,368 |
Jumbo Conforming | 20% | 760 credit score | 7.051% | 7.084% | 0 pts ($0) | $1,972/mo | $61,420 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $2,143/mo | $65,709 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.311% | 7.087% | 0 pts ($0) | $2,243/mo | $79,515 |
Second Home 10% Down | 10% | 720 credit score | 5.955% | 6.529% | 0 pts ($0) | $1,979/mo | $66,614 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,939/mo | $59,936 |
VA 0% Down | 0% | 700 credit score | 6.073% | 6.319% | 0 pts ($0) | $2,275/mo | $75,265 |
VA Cash-Out Refi | 0% | 640 credit score | 6.076% | 6.446% | 0 pts ($0) | $2,276/mo | $75,299 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.083% | 6.237% | 0 pts ($0) | $2,277/mo | $75,379 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $2,028/mo | $64,159 |
Frequently Asked Questions
What are today's mortgage rates in 37116, Nashville-Davidson Metropolitan Government (Balance), TN across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 37116, Nashville-Davidson Metropolitan Government (Balance), TN is 6.936% (with an estimated monthly payment of $1,922). Active program rates also include FHA 30-year fixed loans at 5.950% and VA 0%-down fixed loans at 6.073%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 37116, Nashville-Davidson Metropolitan Government (Balance), TN?
Mortgage rates have shown typical daily fluctuations driven by inflation data and bond yields. Over the past 90 days, conventional 30-year fixed rates in 37116, Nashville-Davidson Metropolitan Government (Balance), TN have fluctuated between a low of 6.583% and a high of 7.030%. You can track these daily movements by using the 90-day rate history and trajectory chart featured on this page.
Is an FHA or Conventional loan more cost-effective in 37116, Nashville-Davidson Metropolitan Government (Balance), TN?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $368,553 in 37116, Nashville-Davidson Metropolitan Government (Balance), TN, a standard 20%-down Conventional loan requires an upfront cash down payment of $73,711 but keeps your monthly payment lower at $1,922/mo (at 6.936% interest) with no monthly PMI. In comparison, an FHA loan requires only $12,899 (3.5% down) but has an estimated payment of $2,129/mo (at 5.950% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $355,654 falls comfortably within the local HUD FHA loan limit of $524,225 (1-unit), making FHA financing an exceptionally accessible, high-leverage entry point into the market.
What is the maximum conforming loan limit in 37116 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 37116 is $806,501. With a typical local home value of $368,553 in Nashville-Davidson Metropolitan Government (Balance), a standard 20%-down mortgage requires a loan size of $294,842. Because this is within the $806,501 conforming threshold, buyers can easily qualify for standard conforming conventional financing with competitive rates.
How does the median home value in 37116, Nashville-Davidson Metropolitan Government (Balance), TN impact estimated mortgage payments?
The median home value in 37116, Nashville-Davidson Metropolitan Government (Balance), TN is estimated at $368,553. Buying a typical home here with a standard 20% down payment ($73,711) translates to an estimated starting monthly mortgage payment of $1,922 (principal and interest). Compared to the local area median household income of $78,479 ($6,540/mo), this basic housing payment represents approximately 29.4% of gross monthly household income. This housing cost is well within standard lender affordability guidelines (under the 36% DTI benchmark), demonstrating healthy local purchasing power.