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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 | 6.622%APR 6.628% | 0 pts$0 | $4,925/moP&I $4,925 · 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 | 5.832%APR 5.840% | 0 pts$0 | $4,531/moP&I $4,531 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.565%APR 6.571% | 0 pts$0 | $4,897/moP&I $4,897 · MI $0 | See details |
| Investment Property FixedConforming | 7.502%APR 7.508% | 0 pts$0 | $5,381/moP&I $5,381 · 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 | 5.832% | 5.840% | 0 pts ($0) | $6,424/mo | $125,937 |
15-Year Rate/Term Refi | 0% | 740 credit score | 5.822% | 5.831% | 0 pts ($0) | $8,024/mo | $175,899 |
Condo 10% Down | 10% | 720 credit score | 6.972% | 7.105% | 0 pts ($0) | $5,743/mo | $200,342 |
Conventional 10% Down | 10% | 720 credit score | 6.425% | 6.549% | 0 pts ($0) | $5,429/mo | $186,080 |
Conventional 20% Down | 20% | 740 credit score | 6.622% | 6.628% | 0 pts ($0) | $4,925/mo | $150,347 |
Conventional 5% Down | 5% | 700 credit score | 6.909% | 7.352% | 0 pts ($0) | $6,023/mo | $209,737 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.268% | 7.274% | 0 pts ($0) | $6,573/mo | $225,416 |
Conventional High Balance | 10% | 740 credit score | 6.981% | 6.985% | 0 pts ($0) | $5,748/mo | $195,383 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.462% | 6.798% | 0 pts ($0) | $5,874/mo | $209,989 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.565% | 6.571% | 0 pts ($0) | $6,121/mo | $205,038 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $7,937/mo | $189,237 |
FHA 3.5% Down | 3.5% | 680 credit score | 5.952% | 6.694% | 0 pts ($0) | $5,633/mo | $197,322 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $5,827/mo | $204,008 |
FHA Streamline Refi | 0% | 640 credit score | 5.952% | 6.694% | 0 pts ($0) | $5,837/mo | $204,479 |
House Hacking Conforming 5% | 5% | 680 credit score | 6.882% | 7.093% | 0 pts ($0) | $6,007/mo | $217,217 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $6,017/mo | $117,816 |
Investment Property 25% Down | 25% | 740 credit score | 7.502% | 7.508% | 0 pts ($0) | $5,045/mo | $160,088 |
Jumbo Conforming | 20% | 760 credit score | 6.810% | 6.814% | 0 pts ($0) | $5,021/mo | $154,704 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $5,593/mo | $171,486 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 5.961% | 6.703% | 0 pts ($0) | $5,639/mo | $197,577 |
Second Home 10% Down | 10% | 720 credit score | 5.964% | 6.509% | 0 pts ($0) | $5,170/mo | $174,080 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $5,059/mo | $156,420 |
VA 0% Down | 0% | 700 credit score | 5.974% | 6.190% | 0 pts ($0) | $5,874/mo | $193,502 |
VA Cash-Out Refi | 0% | 640 credit score | 5.980% | 6.319% | 0 pts ($0) | $5,878/mo | $193,679 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 5.992% | 6.117% | 0 pts ($0) | $5,886/mo | $194,033 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $5,293/mo | $167,440 |
Frequently Asked Questions
What are today's mortgage rates in 37220, Nashville-Davidson Metropolitan Government (Balance), TN across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 37220, Nashville-Davidson Metropolitan Government (Balance), TN is 6.622% (with an estimated monthly payment of $3,612). Active program rates also include FHA 30-year fixed loans at 5.952% and VA 0%-down fixed loans at 5.974%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 37220, 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 37220, Nashville-Davidson Metropolitan Government (Balance), TN have fluctuated between a low of 6.433% and a high of 6.894%. 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 37220, 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 $961,837 in 37220, Nashville-Davidson Metropolitan Government (Balance), TN, a standard 20%-down Conventional loan requires an upfront cash down payment of $192,367 but keeps your monthly payment lower at $3,612/mo (at 6.622% interest) with no monthly PMI. In comparison, an FHA loan requires only $33,664 (3.5% down) but has an estimated payment of $4,131/mo (at 5.952% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $928,173 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 37220 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 37220 is $806,501. With a typical local home value of $961,837 in Nashville-Davidson Metropolitan Government (Balance), a standard 20%-down mortgage requires a loan size of $769,470. 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 37220, Nashville-Davidson Metropolitan Government (Balance), TN impact estimated mortgage payments?
The median home value in 37220, Nashville-Davidson Metropolitan Government (Balance), TN is estimated at $961,837. Buying a typical home here with a standard 20% down payment ($192,367) translates to an estimated starting monthly mortgage payment of $3,612 (principal and interest). Compared to the local area median household income of $161,468 ($13,456/mo), this basic housing payment represents approximately 26.8% 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.