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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 | 6.838%APR 6.872% | 0 pts$0 | $2,517/moP&I $2,517 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 5.965%APR 6.733% | 0 pts$0 | $2,517/moP&I $2,337 · MI $179 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 5.888%APR 5.936% | 0 pts$0 | $2,278/moP&I $2,278 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.880%APR 6.915% | 0 pts$0 | $2,528/moP&I $2,528 · MI $0 | See details |
| Investment Property FixedConforming | 7.527%APR 7.566% | 0 pts$0 | $2,696/moP&I $2,696 · 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 | 5.888% | 5.936% | 0 pts ($0) | $3,222/mo | $63,570 |
15-Year Rate/Term Refi | 0% | 740 credit score | 5.870% | 5.918% | 0 pts ($0) | $4,023/mo | $88,587 |
Condo 10% Down | 10% | 720 credit score | 7.043% | 7.207% | 0 pts ($0) | $2,891/mo | $101,063 |
Conventional 10% Down | 10% | 720 credit score | 6.525% | 6.678% | 0 pts ($0) | $2,742/mo | $94,311 |
Conventional 20% Down | 20% | 740 credit score | 6.838% | 6.872% | 0 pts ($0) | $2,517/mo | $77,650 |
Conventional 5% Down | 5% | 700 credit score | 6.962% | 7.438% | 0 pts ($0) | $3,027/mo | $105,563 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.280% | 7.317% | 0 pts ($0) | $3,289/mo | $112,844 |
Conventional High Balance | 10% | 740 credit score | 7.013% | 7.046% | 0 pts ($0) | $2,882/mo | $98,076 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.730% | 7.101% | 0 pts ($0) | $3,018/mo | $108,722 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.880% | 6.915% | 0 pts ($0) | $3,160/mo | $107,046 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $3,967/mo | $94,587 |
FHA 3.5% Down | 3.5% | 680 credit score | 5.965% | 6.733% | 0 pts ($0) | $2,820/mo | $98,812 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,913/mo | $101,970 |
FHA Streamline Refi | 0% | 640 credit score | 6.090% | 6.860% | 0 pts ($0) | $2,961/mo | $104,234 |
House Hacking Conforming 5% | 5% | 680 credit score | 6.936% | 7.177% | 0 pts ($0) | $3,019/mo | $109,315 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $3,008/mo | $58,888 |
Investment Property 25% Down | 25% | 740 credit score | 7.527% | 7.566% | 0 pts ($0) | $2,528/mo | $80,289 |
Jumbo Conforming | 20% | 760 credit score | 7.051% | 7.084% | 0 pts ($0) | $2,572/mo | $80,119 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $2,795/mo | $85,714 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.330% | 7.104% | 0 pts ($0) | $2,931/mo | $103,992 |
Second Home 10% Down | 10% | 720 credit score | 5.979% | 6.551% | 0 pts ($0) | $2,588/mo | $87,206 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $2,529/mo | $78,183 |
VA 0% Down | 0% | 700 credit score | 5.963% | 6.204% | 0 pts ($0) | $2,933/mo | $96,556 |
VA Cash-Out Refi | 0% | 640 credit score | 5.969% | 6.334% | 0 pts ($0) | $2,935/mo | $96,644 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 5.983% | 6.133% | 0 pts ($0) | $2,939/mo | $96,851 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $2,645/mo | $83,692 |
Frequently Asked Questions
What are today's mortgage rates in 37216, Nashville-Davidson Metropolitan Government (Balance), TN across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 37216, Nashville-Davidson Metropolitan Government (Balance), TN is 6.838% (with an estimated monthly payment of $3,093). Active program rates also include FHA 30-year fixed loans at 5.965% and VA 0%-down fixed loans at 5.963%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 37216, 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 37216, Nashville-Davidson Metropolitan Government (Balance), TN have fluctuated between a low of 6.458% and a high of 6.919%. 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 37216, 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 $480,756 in 37216, Nashville-Davidson Metropolitan Government (Balance), TN, a standard 20%-down Conventional loan requires an upfront cash down payment of $96,151 but keeps your monthly payment lower at $3,093/mo (at 6.838% interest) with no monthly PMI. In comparison, an FHA loan requires only $16,826 (3.5% down) but has an estimated payment of $3,464/mo (at 5.965% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $463,930 falls comfortably within the local HUD FHA loan limit of $541,287 (1-unit), making FHA financing an exceptionally accessible, high-leverage entry point into the market.
What is the maximum conforming loan limit in 37216 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 37216 is $806,501. With a typical local home value of $480,756 in Nashville-Davidson Metropolitan Government (Balance), a standard 20%-down mortgage requires a loan size of $384,605. 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 37216, Nashville-Davidson Metropolitan Government (Balance), TN impact estimated mortgage payments?
The median home value in 37216, Nashville-Davidson Metropolitan Government (Balance), TN is estimated at $480,756. Buying a typical home here with a standard 20% down payment ($96,151) translates to an estimated starting monthly mortgage payment of $3,093 (principal and interest). Compared to the local area median household income of $86,207 ($7,184/mo), this basic housing payment represents approximately 43.1% 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.