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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 | 6.873%APR 6.908% | 0 pts$0 | $2,393/moP&I $2,393 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.010%APR 6.779% | 0 pts$0 | $2,395/moP&I $2,225 · MI $170 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 5.955%APR 6.005% | 0 pts$0 | $2,174/moP&I $2,174 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.994%APR 7.032% | 0 pts$0 | $2,422/moP&I $2,422 · MI $0 | See details |
| Investment Property FixedConforming | 7.589%APR 7.630% | 0 pts$0 | $2,570/moP&I $2,570 · 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 | 5.955% | 6.005% | 0 pts ($0) | $3,066/mo | $60,926 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.013% | 6.064% | 0 pts ($0) | $3,846/mo | $85,802 |
Condo 10% Down | 10% | 720 credit score | 7.108% | 7.275% | 0 pts ($0) | $2,757/mo | $96,539 |
Conventional 10% Down | 10% | 720 credit score | 6.570% | 6.725% | 0 pts ($0) | $2,610/mo | $89,895 |
Conventional 20% Down | 20% | 740 credit score | 6.873% | 6.908% | 0 pts ($0) | $2,393/mo | $73,941 |
Conventional 5% Down | 5% | 700 credit score | 6.993% | 7.470% | 0 pts ($0) | $2,876/mo | $100,402 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.318% | 7.356% | 0 pts ($0) | $3,128/mo | $107,418 |
Conventional High Balance | 10% | 740 credit score | 7.013% | 7.046% | 0 pts ($0) | $2,730/mo | $92,906 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.782% | 7.157% | 0 pts ($0) | $2,875/mo | $103,683 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.994% | 7.032% | 0 pts ($0) | $3,028/mo | $102,968 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $3,758/mo | $89,601 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.010% | 6.779% | 0 pts ($0) | $2,684/mo | $94,208 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,759/mo | $96,595 |
FHA Streamline Refi | 0% | 640 credit score | 6.171% | 6.943% | 0 pts ($0) | $2,829/mo | $99,868 |
House Hacking Conforming 5% | 5% | 680 credit score | 6.966% | 7.209% | 0 pts ($0) | $2,869/mo | $103,944 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $2,849/mo | $55,784 |
Investment Property 25% Down | 25% | 740 credit score | 7.589% | 7.630% | 0 pts ($0) | $2,409/mo | $76,696 |
Jumbo Conforming | 20% | 760 credit score | 7.051% | 7.084% | 0 pts ($0) | $2,436/mo | $75,896 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $2,648/mo | $81,196 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.382% | 7.157% | 0 pts ($0) | $2,792/mo | $99,210 |
Second Home 10% Down | 10% | 720 credit score | 6.033% | 6.607% | 0 pts ($0) | $2,466/mo | $83,274 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $2,396/mo | $74,062 |
VA 0% Down | 0% | 700 credit score | 6.004% | 6.247% | 0 pts ($0) | $2,790/mo | $92,039 |
VA Cash-Out Refi | 0% | 640 credit score | 6.015% | 6.382% | 0 pts ($0) | $2,794/mo | $92,193 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.038% | 6.189% | 0 pts ($0) | $2,801/mo | $92,515 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $2,506/mo | $79,280 |
Frequently Asked Questions
What are today's mortgage rates in 37218, Nashville-Davidson Metropolitan Government (Balance), TN across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 37218, Nashville-Davidson Metropolitan Government (Balance), TN is 6.873% (with an estimated monthly payment of $2,513). Active program rates also include FHA 30-year fixed loans at 6.010% and VA 0%-down fixed loans at 6.004%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 37218, 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 37218, Nashville-Davidson Metropolitan Government (Balance), TN have fluctuated between a low of 6.494% and a high of 6.955%. 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 37218, 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 $455,414 in 37218, Nashville-Davidson Metropolitan Government (Balance), TN, a standard 20%-down Conventional loan requires an upfront cash down payment of $91,083 but keeps your monthly payment lower at $2,513/mo (at 6.873% interest) with no monthly PMI. In comparison, an FHA loan requires only $15,939 (3.5% down) but has an estimated payment of $2,819/mo (at 6.010% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $439,475 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 37218 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 37218 is $806,501. With a typical local home value of $455,414 in Nashville-Davidson Metropolitan Government (Balance), a standard 20%-down mortgage requires a loan size of $364,331. 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 37218, Nashville-Davidson Metropolitan Government (Balance), TN impact estimated mortgage payments?
The median home value in 37218, Nashville-Davidson Metropolitan Government (Balance), TN is estimated at $455,414. Buying a typical home here with a standard 20% down payment ($91,083) translates to an estimated starting monthly mortgage payment of $2,513 (principal and interest). Compared to the local area median household income of $72,620 ($6,052/mo), this basic housing payment represents approximately 41.5% 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.