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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
Exceeds local FHA limit of $541,287
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 | 6.802%APR 6.808% | 0 pts$0 | $3,540/moP&I $3,540 · MI $0 | See details |
| FHA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 5.857%APR 5.867% | 0 pts$0 | $3,206/moP&I $3,206 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.473%APR 6.480% | 0 pts$0 | $3,422/moP&I $3,422 · MI $0 | See details |
| Investment Property FixedConforming | 7.530%APR 7.537% | 0 pts$0 | $3,808/moP&I $3,808 · 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 | 5.857% | 5.867% | 0 pts ($0) | $4,540/mo | $89,259 |
15-Year Rate/Term Refi | 0% | 740 credit score | 5.860% | 5.871% | 0 pts ($0) | $5,676/mo | $124,867 |
Condo 10% Down | 10% | 720 credit score | 6.997% | 7.131% | 0 pts ($0) | $4,063/mo | $141,830 |
Conventional 10% Down | 10% | 720 credit score | 6.443% | 6.568% | 0 pts ($0) | $3,838/mo | $131,637 |
Conventional 20% Down | 20% | 740 credit score | 6.802% | 6.808% | 0 pts ($0) | $3,540/mo | $109,034 |
Conventional 5% Down | 5% | 700 credit score | 6.928% | 7.371% | 0 pts ($0) | $4,259/mo | $148,368 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.291% | 7.298% | 0 pts ($0) | $4,649/mo | $159,533 |
Conventional High Balance | 10% | 740 credit score | 6.981% | 6.985% | 0 pts ($0) | $4,056/mo | $137,870 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.488% | 6.825% | 0 pts ($0) | $4,156/mo | $148,692 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.473% | 6.480% | 0 pts ($0) | $4,278/mo | $142,804 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $5,601/mo | $133,533 |
FHA 3.5% Down | 3.5% | 680 credit score | 5.980% | 6.722% | 0 pts ($0) | $3,987/mo | $139,799 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $4,112/mo | $143,957 |
FHA Streamline Refi | 0% | 640 credit score | 5.980% | 6.722% | 0 pts ($0) | $4,132/mo | $144,870 |
House Hacking Conforming 5% | 5% | 680 credit score | 6.901% | 7.113% | 0 pts ($0) | $4,247/mo | $153,647 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $4,246/mo | $83,136 |
Investment Property 25% Down | 25% | 740 credit score | 7.530% | 7.537% | 0 pts ($0) | $3,570/mo | $113,395 |
Jumbo Conforming | 20% | 760 credit score | 6.810% | 6.814% | 0 pts ($0) | $3,543/mo | $109,165 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $3,946/mo | $121,008 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 5.989% | 6.731% | 0 pts ($0) | $3,991/mo | $139,979 |
Second Home 10% Down | 10% | 720 credit score | 5.994% | 6.541% | 0 pts ($0) | $3,660/mo | $123,389 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $3,570/mo | $110,376 |
VA 0% Down | 0% | 700 credit score | 5.996% | 6.213% | 0 pts ($0) | $4,155/mo | $137,001 |
VA Cash-Out Refi | 0% | 640 credit score | 6.004% | 6.344% | 0 pts ($0) | $4,158/mo | $137,168 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.019% | 6.145% | 0 pts ($0) | $4,165/mo | $137,480 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $3,735/mo | $118,152 |
Frequently Asked Questions
What are today's mortgage rates in 37202, Nashville-Davidson Metropolitan Government (Balance), TN across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 37202, Nashville-Davidson Metropolitan Government (Balance), TN is 6.802% (with an estimated monthly payment of $3,144). Active program rates also include FHA 30-year fixed loans at 5.980% and VA 0%-down fixed loans at 5.996%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 37202, 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 37202, Nashville-Davidson Metropolitan Government (Balance), TN have fluctuated between a low of 6.455% and a high of 6.916%. 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 37202, 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 $678,711 in 37202, Nashville-Davidson Metropolitan Government (Balance), TN, a standard 20%-down Conventional loan requires an upfront cash down payment of $135,742 but keeps your monthly payment lower at $3,144/mo (at 6.802% interest) with no monthly PMI. In comparison, an FHA loan requires only $23,755 (3.5% down) but has an estimated payment of $3,540/mo (at 5.980% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $654,956 exceeds the local HUD FHA limit of $541,287 for a 1-unit property, meaning entry-level buyers here will likely require conventional financing or a larger down payment to comply with government limits.
What is the maximum conforming loan limit in 37202 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 37202 is $806,501. With a typical local home value of $678,711 in Nashville-Davidson Metropolitan Government (Balance), a standard 20%-down mortgage requires a loan size of $542,969. 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 37202, Nashville-Davidson Metropolitan Government (Balance), TN impact estimated mortgage payments?
The median home value in 37202, Nashville-Davidson Metropolitan Government (Balance), TN is estimated at $678,711. Buying a typical home here with a standard 20% down payment ($135,742) translates to an estimated starting monthly mortgage payment of $3,144 (principal and interest). Compared to the local area median household income of $111,057 ($9,255/mo), this basic housing payment represents approximately 34.0% 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.