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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 | 6.989%APR 7.029% | 0 pts$0 | $891/moP&I $891 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.071%APR 6.844% | 0 pts$0 | $887/moP&I $824 · MI $63 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.246%APR 6.303% | 0 pts$0 | $825/moP&I $825 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 7.014%APR 7.054% | 0 pts$0 | $893/moP&I $893 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.718% | 0 pts$0 | $949/moP&I $949 · 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 | 6.246% | 6.303% | 0 pts ($0) | $1,149/mo | $23,555 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.114% | 6.171% | 0 pts ($0) | $1,425/mo | $32,071 |
Condo 10% Down | 10% | 720 credit score | 7.319% | 7.494% | 0 pts ($0) | $1,036/mo | $36,492 |
Conventional 10% Down | 10% | 720 credit score | 6.808% | 6.970% | 0 pts ($0) | $984/mo | $34,168 |
Conventional 20% Down | 20% | 740 credit score | 6.989% | 7.029% | 0 pts ($0) | $891/mo | $27,684 |
Conventional 5% Down | 5% | 700 credit score | 7.138% | 7.625% | 0 pts ($0) | $1,074/mo | $37,650 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.438% | 7.481% | 0 pts ($0) | $1,165/mo | $40,143 |
Conventional High Balance | 10% | 740 credit score | 7.013% | 7.046% | 0 pts ($0) | $1,005/mo | $34,195 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.842% | 7.222% | 0 pts ($0) | $1,065/mo | $38,455 |
Conventional Rate/Term Refi | 0% | 740 credit score | 7.014% | 7.054% | 0 pts ($0) | $1,117/mo | $37,999 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,383/mo | $32,978 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.071% | 6.844% | 0 pts ($0) | $994/mo | $34,976 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,016/mo | $35,552 |
FHA Streamline Refi | 0% | 640 credit score | 6.266% | 7.043% | 0 pts ($0) | $1,052/mo | $37,244 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.094% | 7.343% | 0 pts ($0) | $1,069/mo | $38,872 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $1,049/mo | $20,532 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.718% | 0 pts ($0) | $890/mo | $28,365 |
Jumbo Conforming | 20% | 760 credit score | 7.051% | 7.084% | 0 pts ($0) | $897/mo | $27,934 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $975/mo | $29,885 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.435% | 7.214% | 0 pts ($0) | $1,033/mo | $36,778 |
Second Home 10% Down | 10% | 720 credit score | 6.077% | 6.655% | 0 pts ($0) | $912/mo | $30,849 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $882/mo | $27,259 |
VA 0% Down | 0% | 700 credit score | 6.075% | 6.322% | 0 pts ($0) | $1,035/mo | $34,241 |
VA Cash-Out Refi | 0% | 640 credit score | 6.079% | 6.451% | 0 pts ($0) | $1,035/mo | $34,262 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.085% | 6.240% | 0 pts ($0) | $1,036/mo | $34,293 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $922/mo | $29,180 |
Frequently Asked Questions
What are today's mortgage rates in 37140, , TN across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 37140, , TN is 6.989% (with an estimated monthly payment of $1,592). Active program rates also include FHA 30-year fixed loans at 6.071% and VA 0%-down fixed loans at 6.075%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 37140, , 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 37140, , TN have fluctuated between a low of 6.884% and a high of 7.133%. 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 37140, , TN?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $167,619 in 37140, , TN, a standard 20%-down Conventional loan requires an upfront cash down payment of $33,524 but keeps your monthly payment lower at $1,592/mo (at 6.989% interest) with no monthly PMI. In comparison, an FHA loan requires only $5,867 (3.5% down) but has an estimated payment of $1,776/mo (at 6.071% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $161,752 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 37140 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 37140 is $806,501. With a typical local home value of $167,619 in , a standard 20%-down mortgage requires a loan size of $134,095. 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 37140, , TN impact estimated mortgage payments?
The median home value in 37140, , TN is estimated at $167,619. Buying a typical home here with a standard 20% down payment ($33,524) translates to an estimated starting monthly mortgage payment of $1,592 (principal and interest). Compared to the local area median household income of $50,962 ($4,247/mo), this basic housing payment represents approximately 37.5% of gross monthly household income. Because this housing cost exceeds the standard 36% lender DTI guideline, buyers in this high-value area may need larger down payments, lower debt balances, or co-borrower income to qualify.