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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.
Current Local Mortgage Rates
Sorted by lowest conforming purchase rate
| Loan Program | Today's Rate / APR | Points | Est. Payment | Action |
|---|---|---|---|---|
| Conventional 30-Yr FixedConforming | 6.585%APR 6.595% | 0 pts$0 | $3,462/moP&I $3,462 · 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 | 5.809%APR 5.823% | 0 pts$0 | $3,189/moP&I $3,189 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.431%APR 6.441% | 0 pts$0 | $3,407/moP&I $3,407 · MI $0 | See details |
| Investment Property FixedConforming | 7.501%APR 7.512% | 0 pts$0 | $3,797/moP&I $3,797 · MI $0 | See details |
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Compare all 26 pre-computed scenario benchmarks
Scenario Program | Down Pct | FICO | Today's Rate | APR | Points | P&I Payment | 3-Yr Metric Cost |
|---|---|---|---|---|---|---|---|
| 15-Year Conforming Purchase | 20% | 740 FICO | 5.809% | 5.823% | 0 pts ($0) | $4,526/mo | $88,505 |
| 15-Year Rate/Term Refi | 0% | 740 FICO | 5.811% | 5.827% | 0 pts ($0) | $5,658/mo | $123,906 |
| Condo 10% Down | 10% | 720 FICO | 6.982% | 7.120% | 0 pts ($0) | $4,057/mo | $141,554 |
| Conventional 10% Down | 10% | 720 FICO | 6.400% | 6.528% | 0 pts ($0) | $3,821/mo | $130,846 |
| Conventional 20% Down | 20% | 740 FICO | 6.585% | 6.595% | 0 pts ($0) | $3,462/mo | $105,486 |
| Conventional 5% Down | 5% | 700 FICO | 6.911% | 7.358% | 0 pts ($0) | $4,251/mo | $148,038 |
| Conventional Cash-Out Refi | 0% | 740 FICO | 7.256% | 7.267% | 0 pts ($0) | $4,633/mo | $158,817 |
| Conventional High Balance | 10% | 740 FICO | 6.965% | 6.973% | 0 pts ($0) | $4,050/mo | $137,576 |
| Conventional HomeReady 3% | 3% | 660 FICO | 6.446% | 6.786% | 0 pts ($0) | $4,138/mo | $147,860 |
| Conventional Rate/Term Refi | 0% | 740 FICO | 6.431% | 6.441% | 0 pts ($0) | $4,259/mo | $141,946 |
| FHA 15-Year Fixed 3.5% Down | 3.5% | 680 FICO | 5.936% | 6.686% | 0 pts ($0) | $5,601/mo | $133,533 |
| FHA 3.5% Down | 3.5% | 680 FICO | 5.953% | 6.698% | 0 pts ($0) | $3,975/mo | $139,258 |
| FHA Streamline (Excellent Credit) | 0% | 740 FICO | 5.936% | 6.686% | 0 pts ($0) | $4,112/mo | $143,957 |
| FHA Streamline Refi | 0% | 640 FICO | 5.953% | 6.698% | 0 pts ($0) | $4,120/mo | $144,309 |
| House Hacking Conforming 5% | 5% | 680 FICO | 6.882% | 7.098% | 0 pts ($0) | $4,239/mo | $153,277 |
| Investment 15-Year Fixed 25% Down | 25% | 740 FICO | 5.820% | 5.855% | 0 pts ($0) | $4,246/mo | $83,136 |
| Investment Property 25% Down | 25% | 740 FICO | 7.501% | 7.512% | 0 pts ($0) | $3,560/mo | $112,949 |
| Jumbo Conforming | 20% | 760 FICO | 6.663% | 6.670% | 0 pts ($0) | $3,490/mo | $106,761 |
| Jumbo Elite Premium 10% Down | 10% | 760 FICO | 6.712% | 6.741% | 0 pts ($0) | $3,946/mo | $121,008 |
| Lower Credit FHA 3.5% | 3.5% | 580 FICO | 5.961% | 6.707% | 0 pts ($0) | $3,979/mo | $139,419 |
| Second Home 10% Down | 10% | 720 FICO | 5.967% | 6.516% | 0 pts ($0) | $3,649/mo | $122,893 |
| Second Home 20% Down | 20% | 740 FICO | 6.884% | 6.900% | 0 pts ($0) | $3,570/mo | $110,376 |
| VA 0% Down | 0% | 700 FICO | 5.975% | 6.195% | 0 pts ($0) | $4,146/mo | $136,564 |
| VA Cash-Out Refi | 0% | 640 FICO | 5.982% | 6.325% | 0 pts ($0) | $4,149/mo | $136,709 |
| VA IRRRL Streamline Refi | 0% | 640 FICO | 5.996% | 6.125% | 0 pts ($0) | $4,155/mo | $137,001 |
| VA Military 10% Down | 10% | 720 FICO | 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 6.585% (with an estimated monthly payment of $3,074). Active program rates also include FHA 30-year fixed loans at 5.953% and VA 0%-down fixed loans at 5.975%. 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 $3,074/mo (at 6.585% interest) with no monthly PMI. In comparison, an FHA loan requires only $23,755 (3.5% down) but has an estimated payment of $3,530/mo (at 5.953% 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 $3,074 (principal and interest). Compared to the local area median household income of $111,057 ($9,255/mo), this basic housing payment represents approximately 33.2% 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.