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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 | 6.957%APR 6.995% | 0 pts$0 | $1,102/moP&I $1,102 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 5.956%APR 6.726% | 0 pts$0 | $1,087/moP&I $1,010 · MI $78 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.109%APR 6.164% | 0 pts$0 | $1,009/moP&I $1,009 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.922%APR 6.961% | 0 pts$0 | $1,098/moP&I $1,098 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.699% | 0 pts$0 | $1,177/moP&I $1,177 · 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 | 6.109% | 6.164% | 0 pts ($0) | $1,413/mo | $28,551 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.092% | 6.148% | 0 pts ($0) | $1,765/mo | $39,640 |
Condo 10% Down | 10% | 720 credit score | 7.281% | 7.454% | 0 pts ($0) | $1,280/mo | $45,042 |
Conventional 10% Down | 10% | 720 credit score | 6.781% | 6.942% | 0 pts ($0) | $1,217/mo | $42,222 |
Conventional 20% Down | 20% | 740 credit score | 6.957% | 6.995% | 0 pts ($0) | $1,102/mo | $34,172 |
Conventional 5% Down | 5% | 700 credit score | 7.093% | 7.576% | 0 pts ($0) | $1,326/mo | $46,424 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.401% | 7.442% | 0 pts ($0) | $1,439/mo | $49,552 |
Conventional High Balance | 10% | 740 credit score | 7.013% | 7.046% | 0 pts ($0) | $1,246/mo | $42,407 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.833% | 7.212% | 0 pts ($0) | $1,319/mo | $47,636 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.922% | 6.961% | 0 pts ($0) | $1,372/mo | $46,549 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,715/mo | $40,899 |
FHA 3.5% Down | 3.5% | 680 credit score | 5.956% | 6.726% | 0 pts ($0) | $1,218/mo | $42,670 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,259/mo | $44,091 |
FHA Streamline Refi | 0% | 640 credit score | 6.079% | 6.851% | 0 pts ($0) | $1,279/mo | $45,000 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.050% | 7.297% | 0 pts ($0) | $1,320/mo | $47,946 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $1,301/mo | $25,463 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.699% | 0 pts ($0) | $1,103/mo | $35,178 |
Jumbo Conforming | 20% | 760 credit score | 7.051% | 7.084% | 0 pts ($0) | $1,112/mo | $34,643 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $1,209/mo | $37,062 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.319% | 7.096% | 0 pts ($0) | $1,266/mo | $44,898 |
Second Home 10% Down | 10% | 720 credit score | 5.962% | 6.536% | 0 pts ($0) | $1,117/mo | $37,612 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,093/mo | $33,806 |
VA 0% Down | 0% | 700 credit score | 6.081% | 6.327% | 0 pts ($0) | $1,284/mo | $42,503 |
VA Cash-Out Refi | 0% | 640 credit score | 6.084% | 6.455% | 0 pts ($0) | $1,285/mo | $42,522 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.092% | 6.246% | 0 pts ($0) | $1,286/mo | $42,573 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $1,144/mo | $36,188 |
Frequently Asked Questions
What are today's mortgage rates in 37151, , TN across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 37151, , TN is 6.957% (with an estimated monthly payment of $1,776). Active program rates also include FHA 30-year fixed loans at 5.956% and VA 0%-down fixed loans at 6.081%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 37151, , 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 37151, , TN have fluctuated between a low of 6.618% and a high of 7.076%. 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 37151, , TN?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $207,875 in 37151, , TN, a standard 20%-down Conventional loan requires an upfront cash down payment of $41,575 but keeps your monthly payment lower at $1,776/mo (at 6.957% interest) with no monthly PMI. In comparison, an FHA loan requires only $7,276 (3.5% down) but has an estimated payment of $1,964/mo (at 5.956% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $200,599 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 37151 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 37151 is $806,501. With a typical local home value of $207,875 in , a standard 20%-down mortgage requires a loan size of $166,300. 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 37151, , TN impact estimated mortgage payments?
The median home value in 37151, , TN is estimated at $207,875. Buying a typical home here with a standard 20% down payment ($41,575) translates to an estimated starting monthly mortgage payment of $1,776 (principal and interest). Compared to the local area median household income of $74,609 ($6,217/mo), this basic housing payment represents approximately 28.6% 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.