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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 | 6.871%APR 6.906% | 0 pts$0 | $2,823/moP&I $2,823 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.006%APR 6.775% | 0 pts$0 | $2,825/moP&I $2,624 · MI $200 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 5.951%APR 6.001% | 0 pts$0 | $2,564/moP&I $2,564 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.832%APR 6.867% | 0 pts$0 | $2,812/moP&I $2,812 · MI $0 | See details |
| Investment Property FixedConforming | 7.585%APR 7.625% | 0 pts$0 | $3,031/moP&I $3,031 · 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 | 5.951% | 6.001% | 0 pts ($0) | $3,616/mo | $71,835 |
15-Year Rate/Term Refi | 0% | 740 credit score | 5.927% | 5.977% | 0 pts ($0) | $4,513/mo | $99,899 |
Condo 10% Down | 10% | 720 credit score | 7.104% | 7.271% | 0 pts ($0) | $3,251/mo | $113,846 |
Conventional 10% Down | 10% | 720 credit score | 6.568% | 6.723% | 0 pts ($0) | $3,078/mo | $106,036 |
Conventional 20% Down | 20% | 740 credit score | 6.871% | 6.906% | 0 pts ($0) | $2,823/mo | $87,216 |
Conventional 5% Down | 5% | 700 credit score | 6.991% | 7.468% | 0 pts ($0) | $3,393/mo | $118,432 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.316% | 7.354% | 0 pts ($0) | $3,690/mo | $126,708 |
Conventional High Balance | 10% | 740 credit score | 7.013% | 7.046% | 0 pts ($0) | $3,222/mo | $109,618 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.779% | 7.153% | 0 pts ($0) | $3,391/mo | $122,287 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.832% | 6.867% | 0 pts ($0) | $3,514/mo | $118,867 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $4,434/mo | $105,718 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.006% | 6.775% | 0 pts ($0) | $3,165/mo | $111,091 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $3,256/mo | $113,970 |
FHA Streamline Refi | 0% | 640 credit score | 6.164% | 6.936% | 0 pts ($0) | $3,336/mo | $117,717 |
House Hacking Conforming 5% | 5% | 680 credit score | 6.965% | 7.208% | 0 pts ($0) | $3,384/mo | $122,626 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $3,362/mo | $65,818 |
Investment Property 25% Down | 25% | 740 credit score | 7.585% | 7.625% | 0 pts ($0) | $2,841/mo | $90,443 |
Jumbo Conforming | 20% | 760 credit score | 7.051% | 7.084% | 0 pts ($0) | $2,875/mo | $89,548 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $3,124/mo | $95,801 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.379% | 7.154% | 0 pts ($0) | $3,293/mo | $117,009 |
Second Home 10% Down | 10% | 720 credit score | 6.029% | 6.603% | 0 pts ($0) | $2,908/mo | $98,195 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $2,827/mo | $87,384 |
VA 0% Down | 0% | 700 credit score | 6.001% | 6.244% | 0 pts ($0) | $3,291/mo | $108,546 |
VA Cash-Out Refi | 0% | 640 credit score | 6.012% | 6.379% | 0 pts ($0) | $3,295/mo | $108,727 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.034% | 6.185% | 0 pts ($0) | $3,303/mo | $109,090 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $2,957/mo | $93,541 |
Frequently Asked Questions
What are today's mortgage rates in 37221, Nashville-Davidson Metropolitan Government (Balance), TN across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 37221, Nashville-Davidson Metropolitan Government (Balance), TN is 6.871% (with an estimated monthly payment of $2,539). Active program rates also include FHA 30-year fixed loans at 6.006% and VA 0%-down fixed loans at 6.001%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 37221, 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 37221, Nashville-Davidson Metropolitan Government (Balance), TN have fluctuated between a low of 6.492% and a high of 6.953%. 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 37221, 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 $537,334 in 37221, Nashville-Davidson Metropolitan Government (Balance), TN, a standard 20%-down Conventional loan requires an upfront cash down payment of $107,467 but keeps your monthly payment lower at $2,539/mo (at 6.871% interest) with no monthly PMI. In comparison, an FHA loan requires only $18,807 (3.5% down) but has an estimated payment of $2,847/mo (at 6.006% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $518,527 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 37221 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 37221 is $806,501. With a typical local home value of $537,334 in Nashville-Davidson Metropolitan Government (Balance), a standard 20%-down mortgage requires a loan size of $429,867. 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 37221, Nashville-Davidson Metropolitan Government (Balance), TN impact estimated mortgage payments?
The median home value in 37221, Nashville-Davidson Metropolitan Government (Balance), TN is estimated at $537,334. Buying a typical home here with a standard 20% down payment ($107,467) translates to an estimated starting monthly mortgage payment of $2,539 (principal and interest). Compared to the local area median household income of $102,348 ($8,529/mo), this basic housing payment represents approximately 29.8% 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.