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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 $806,501 conforming limit
Exceeds local FHA limit of $541,287
Requires veteran or military eligibility
Exceeds $806,501 conforming limit
Exceeds $806,501 conforming limit
Exceeds $806,501 conforming limit
| Loan Program | Today's Rate / APR | Points | Est. Payment | Action |
|---|---|---|---|---|
| Conventional 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| FHA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr FixedJumbo | 6.810%APR 6.814% | 0 pts$0 | $5,609/moP&I $5,609 · MI $0 | See details |
| 15-Year Conforming Fixed Doesn't Apply | — | — | — | Ineligible |
| Refinance 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Investment Property Fixed Doesn't Apply | — | — | — | Ineligible |
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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 | 5.841% | 5.850% | 0 pts ($0) | $7,180/mo | $140,904 |
15-Year Rate/Term Refi | 0% | 740 credit score | 5.839% | 5.849% | 0 pts ($0) | $8,973/mo | $197,019 |
Condo 10% Down | 10% | 720 credit score | 6.981% | 7.114% | 0 pts ($0) | $6,421/mo | $224,057 |
Conventional 10% Down | 10% | 720 credit score | 6.431% | 6.555% | 0 pts ($0) | $6,068/mo | $208,039 |
Conventional 20% Down | 20% | 740 credit score | 6.788% | 6.794% | 0 pts ($0) | $5,597/mo | $172,244 |
Conventional 5% Down | 5% | 700 credit score | 6.916% | 7.359% | 0 pts ($0) | $6,733/mo | $234,505 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.276% | 7.282% | 0 pts ($0) | $7,348/mo | $252,063 |
Conventional High Balance | 10% | 740 credit score | 6.981% | 6.985% | 0 pts ($0) | $6,421/mo | $218,255 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.471% | 6.807% | 0 pts ($0) | $6,568/mo | $234,854 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.456% | 6.462% | 0 pts ($0) | $6,760/mo | $225,516 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $8,866/mo | $211,390 |
FHA 3.5% Down | 3.5% | 680 credit score | 5.962% | 6.704% | 0 pts ($0) | $6,299/mo | $220,739 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $6,510/mo | $227,891 |
FHA Streamline Refi | 0% | 640 credit score | 5.962% | 6.704% | 0 pts ($0) | $6,528/mo | $228,745 |
House Hacking Conforming 5% | 5% | 680 credit score | 6.889% | 7.101% | 0 pts ($0) | $6,715/mo | $242,861 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $6,722/mo | $131,608 |
Investment Property 25% Down | 25% | 740 credit score | 7.512% | 7.519% | 0 pts ($0) | $5,641/mo | $179,072 |
Jumbo Conforming | 20% | 760 credit score | 6.810% | 6.814% | 0 pts ($0) | $5,609/mo | $172,814 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $6,247/mo | $191,561 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 5.971% | 6.713% | 0 pts ($0) | $6,305/mo | $221,024 |
Second Home 10% Down | 10% | 720 credit score | 5.975% | 6.521% | 0 pts ($0) | $5,782/mo | $194,779 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $5,652/mo | $174,731 |
VA 0% Down | 0% | 700 credit score | 5.984% | 6.200% | 0 pts ($0) | $6,569/mo | $216,484 |
VA Cash-Out Refi | 0% | 640 credit score | 5.990% | 6.329% | 0 pts ($0) | $6,573/mo | $216,682 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 5.998% | 6.123% | 0 pts ($0) | $6,579/mo | $216,946 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $5,912/mo | $187,041 |
Frequently Asked Questions
What are today's mortgage rates in 37204, Nashville-Davidson Metropolitan Government (Balance), TN across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 37204, Nashville-Davidson Metropolitan Government (Balance), TN is 6.788% (with an estimated monthly payment of $3,469). Active program rates also include FHA 30-year fixed loans at 5.962% and VA 0%-down fixed loans at 5.984%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 37204, 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 37204, Nashville-Davidson Metropolitan Government (Balance), TN have fluctuated between a low of 6.441% and a high of 6.901%. 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 37204, 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 $1,074,434 in 37204, Nashville-Davidson Metropolitan Government (Balance), TN, a standard 20%-down Conventional loan requires an upfront cash down payment of $214,887 but keeps your monthly payment lower at $3,469/mo (at 6.788% interest) with no monthly PMI. In comparison, an FHA loan requires only $37,605 (3.5% down) but has an estimated payment of $3,904/mo (at 5.962% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $1,036,829 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 37204 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 37204 is $806,501. With a typical local home value of $1,074,434 in Nashville-Davidson Metropolitan Government (Balance), a standard 20%-down mortgage requires a loan size of $859,547. Since this exceeds the conforming limit of $806,501, most typical transactions in Nashville-Davidson Metropolitan Government (Balance) require a non-conforming Jumbo loan, which demands stricter underwriting guidelines, higher credit scores, and larger asset reserves.
How does the median home value in 37204, Nashville-Davidson Metropolitan Government (Balance), TN impact estimated mortgage payments?
The median home value in 37204, Nashville-Davidson Metropolitan Government (Balance), TN is estimated at $1,074,434. Buying a typical home here with a standard 20% down payment ($214,887) translates to an estimated starting monthly mortgage payment of $3,469 (principal and interest). Compared to the local area median household income of $121,923 ($10,160/mo), this basic housing payment represents approximately 34.1% 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.