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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 | 6.857%APR 6.892% | 0 pts$0 | $1,781/moP&I $1,781 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 5.990%APR 6.758% | 0 pts$0 | $1,782/moP&I $1,655 · MI $127 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 5.926%APR 5.975% | 0 pts$0 | $1,615/moP&I $1,615 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.599%APR 6.633% | 0 pts$0 | $1,734/moP&I $1,734 · MI $0 | See details |
| Investment Property FixedConforming | 7.562%APR 7.602% | 0 pts$0 | $1,910/moP&I $1,910 · 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 | 5.926% | 5.975% | 0 pts ($0) | $2,281/mo | $45,186 |
15-Year Rate/Term Refi | 0% | 740 credit score | 5.930% | 5.980% | 0 pts ($0) | $2,852/mo | $63,141 |
Condo 10% Down | 10% | 720 credit score | 7.080% | 7.246% | 0 pts ($0) | $2,049/mo | $71,702 |
Conventional 10% Down | 10% | 720 credit score | 6.551% | 6.705% | 0 pts ($0) | $1,941/mo | $66,832 |
Conventional 20% Down | 20% | 740 credit score | 6.857% | 6.892% | 0 pts ($0) | $1,781/mo | $54,985 |
Conventional 5% Down | 5% | 700 credit score | 6.979% | 7.455% | 0 pts ($0) | $2,141/mo | $74,703 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.301% | 7.339% | 0 pts ($0) | $2,327/mo | $79,894 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $2,009/mo | $68,064 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.763% | 7.137% | 0 pts ($0) | $2,139/mo | $77,096 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.599% | 6.633% | 0 pts ($0) | $2,168/mo | $72,712 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,801/mo | $66,788 |
FHA 3.5% Down | 3.5% | 680 credit score | 5.990% | 6.758% | 0 pts ($0) | $1,996/mo | $70,022 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,057/mo | $72,001 |
FHA Streamline Refi | 0% | 640 credit score | 6.124% | 6.895% | 0 pts ($0) | $2,098/mo | $73,953 |
House Hacking Conforming 5% | 5% | 680 credit score | 6.953% | 7.195% | 0 pts ($0) | $2,135/mo | $77,353 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $2,124/mo | $41,581 |
Investment Property 25% Down | 25% | 740 credit score | 7.562% | 7.602% | 0 pts ($0) | $1,791/mo | $56,961 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $1,830/mo | $57,178 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $1,974/mo | $60,523 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.364% | 7.139% | 0 pts ($0) | $2,077/mo | $73,770 |
Second Home 10% Down | 10% | 720 credit score | 6.004% | 6.577% | 0 pts ($0) | $1,833/mo | $61,806 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,786/mo | $55,205 |
VA 0% Down | 0% | 700 credit score | 5.987% | 6.229% | 0 pts ($0) | $2,076/mo | $68,428 |
VA Cash-Out Refi | 0% | 640 credit score | 5.995% | 6.361% | 0 pts ($0) | $2,078/mo | $68,512 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.010% | 6.161% | 0 pts ($0) | $2,081/mo | $68,668 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $1,868/mo | $59,095 |
Frequently Asked Questions
What are today's mortgage rates in 37142, , TN across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 37142, , TN is 6.857% (with an estimated monthly payment of $2,737). Active program rates also include FHA 30-year fixed loans at 5.990% and VA 0%-down fixed loans at 5.987%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 37142, , 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 37142, , TN have fluctuated between a low of 6.479% and a high of 6.939%. 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 37142, , TN?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $339,463 in 37142, , TN, a standard 20%-down Conventional loan requires an upfront cash down payment of $67,893 but keeps your monthly payment lower at $2,737/mo (at 6.857% interest) with no monthly PMI. In comparison, an FHA loan requires only $11,881 (3.5% down) but has an estimated payment of $3,068/mo (at 5.990% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $327,582 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 37142 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 37142 is $806,501. With a typical local home value of $339,463 in , a standard 20%-down mortgage requires a loan size of $271,570. 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 37142, , TN impact estimated mortgage payments?
The median home value in 37142, , TN is estimated at $339,463. Buying a typical home here with a standard 20% down payment ($67,893) translates to an estimated starting monthly mortgage payment of $2,737 (principal and interest). Compared to the local area median household income of $72,738 ($6,062/mo), this basic housing payment represents approximately 45.2% 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.