15-Year Fixed Mortgage Rates in ZIP Code 37228

Today's leading benchmark rate for 15-year fixed rates in 37228, Nashville-Davidson Metropolitan Government (Balance), TN is 6.862% (with an estimated monthly payment of $2,668). Calibrated directly to 37228, Nashville-Davidson Metropolitan Government (Balance), TN's local housing market, Safe Rate shows up-to-the-minute interest rates and points across Conventional, FHA, VA, and Jumbo loan programs daily.

Mortgage rates for 15-year fixed rates have shown typical daily fluctuations driven by inflation data and bond yields. Over the past 90 days, rates for 15-year fixed rates in 37228, Nashville-Davidson Metropolitan Government (Balance), TN have hovered between a low of 6.483% and a high of 6.944%. You can track these daily movements by using the 90-day rate history and trajectory chart featured on this page.

Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $573,721 in 37228, Nashville-Davidson Metropolitan Government (Balance), TN, a standard 20%-down Conventional loan requires an upfront cash down payment of $114,744 but keeps your monthly payment lower at $2,668/mo (at 6.862% interest) with no monthly PMI. In comparison, an FHA loan requires only $20,080 (3.5% down) but has an estimated payment of $2,992/mo (at 5.996% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $553,641 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.

The 2025 conforming conventional loan limit for a 1-unit property in 37228 is $806,501. With a typical local home value of $573,721 in Nashville-Davidson Metropolitan Government (Balance), a standard 20%-down mortgage requires a loan size of $458,977. Because this is within the $806,501 conforming threshold, buyers can qualify for standard conforming conventional financing with competitive rates.

The median home value in 37228, Nashville-Davidson Metropolitan Government (Balance), TN is estimated at $573,721. Buying a typical home here with a standard 20% down payment ($114,744) translates to an estimated starting monthly mortgage payment of $2,668 (principal and interest). Compared to the local area median household income of $61,053 ($5,088/mo), this basic housing payment represents approximately 52.4% 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.