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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 | 6.897%APR 6.933% | 0 pts$0 | $2,076/moP&I $2,076 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.044%APR 6.814% | 0 pts$0 | $2,079/moP&I $1,932 · MI $147 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 5.993%APR 6.044% | 0 pts$0 | $1,889/moP&I $1,889 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 7.011%APR 7.062% | 0 pts$0 | $2,100/moP&I $2,100 · MI $0 | See details |
| Investment Property FixedConforming | 7.624%APR 7.665% | 0 pts$0 | $2,231/moP&I $2,231 · 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 | 5.993% | 6.044% | 0 pts ($0) | $2,659/mo | $53,065 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.044% | 6.102% | 0 pts ($0) | $3,335/mo | $74,597 |
Condo 10% Down | 10% | 720 credit score | 7.153% | 7.321% | 0 pts ($0) | $2,396/mo | $84,015 |
Conventional 10% Down | 10% | 720 credit score | 6.596% | 6.752% | 0 pts ($0) | $2,264/mo | $78,062 |
Conventional 20% Down | 20% | 740 credit score | 6.897% | 6.933% | 0 pts ($0) | $2,076/mo | $64,208 |
Conventional 5% Down | 5% | 700 credit score | 7.011% | 7.489% | 0 pts ($0) | $2,493/mo | $87,080 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.339% | 7.378% | 0 pts ($0) | $2,712/mo | $93,196 |
Conventional High Balance | 10% | 740 credit score | 7.013% | 7.046% | 0 pts ($0) | $2,363/mo | $80,390 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.807% | 7.182% | 0 pts ($0) | $2,494/mo | $90,003 |
Conventional Rate/Term Refi | 0% | 740 credit score | 7.011% | 7.062% | 0 pts ($0) | $2,625/mo | $89,298 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $3,252/mo | $77,530 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.044% | 6.814% | 0 pts ($0) | $2,331/mo | $81,912 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,387/mo | $83,582 |
FHA Streamline Refi | 0% | 640 credit score | 6.240% | 7.014% | 0 pts ($0) | $2,466/mo | $87,246 |
House Hacking Conforming 5% | 5% | 680 credit score | 6.983% | 7.227% | 0 pts ($0) | $2,486/mo | $90,133 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $2,465/mo | $48,269 |
Investment Property 25% Down | 25% | 740 credit score | 7.624% | 7.665% | 0 pts ($0) | $2,092/mo | $66,676 |
Jumbo Conforming | 20% | 760 credit score | 7.051% | 7.084% | 0 pts ($0) | $2,108/mo | $65,672 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $2,291/mo | $70,257 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.412% | 7.189% | 0 pts ($0) | $2,423/mo | $86,194 |
Second Home 10% Down | 10% | 720 credit score | 5.943% | 6.515% | 0 pts ($0) | $2,113/mo | $71,097 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $2,073/mo | $64,085 |
VA 0% Down | 0% | 700 credit score | 6.037% | 6.281% | 0 pts ($0) | $2,423/mo | $80,039 |
VA Cash-Out Refi | 0% | 640 credit score | 6.049% | 6.418% | 0 pts ($0) | $2,426/mo | $80,184 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.067% | 6.219% | 0 pts ($0) | $2,431/mo | $80,402 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $2,168/mo | $68,600 |
Frequently Asked Questions
What are today's mortgage rates in 37224, Nashville-Davidson Metropolitan Government (Balance), TN across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 37224, Nashville-Davidson Metropolitan Government (Balance), TN is 6.897% (with an estimated monthly payment of $2,273). Active program rates also include FHA 30-year fixed loans at 6.044% and VA 0%-down fixed loans at 6.037%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 37224, 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 37224, Nashville-Davidson Metropolitan Government (Balance), TN have fluctuated between a low of 6.518% and a high of 6.976%. 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 37224, 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 $394,062 in 37224, Nashville-Davidson Metropolitan Government (Balance), TN, a standard 20%-down Conventional loan requires an upfront cash down payment of $78,812 but keeps your monthly payment lower at $2,273/mo (at 6.897% interest) with no monthly PMI. In comparison, an FHA loan requires only $13,792 (3.5% down) but has an estimated payment of $2,552/mo (at 6.044% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $380,270 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 37224 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 37224 is $806,501. With a typical local home value of $394,062 in Nashville-Davidson Metropolitan Government (Balance), a standard 20%-down mortgage requires a loan size of $315,250. 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 37224, Nashville-Davidson Metropolitan Government (Balance), TN impact estimated mortgage payments?
The median home value in 37224, Nashville-Davidson Metropolitan Government (Balance), TN is estimated at $394,062. Buying a typical home here with a standard 20% down payment ($78,812) translates to an estimated starting monthly mortgage payment of $2,273 (principal and interest). Compared to the local area median household income of $25,000 ($2,083/mo), this basic housing payment represents approximately 109.1% 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.