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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 | 6.865%APR 6.900% | 0 pts$0 | $1,761/moP&I $1,761 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.000%APR 6.769% | 0 pts$0 | $1,763/moP&I $1,637 · MI $125 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 5.941%APR 5.990% | 0 pts$0 | $1,599/moP&I $1,599 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.609%APR 6.643% | 0 pts$0 | $1,716/moP&I $1,716 · MI $0 | See details |
| Investment Property FixedConforming | 7.576%APR 7.616% | 0 pts$0 | $1,891/moP&I $1,891 · 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 | 5.941% | 5.990% | 0 pts ($0) | $2,256/mo | $44,775 |
15-Year Rate/Term Refi | 0% | 740 credit score | 5.943% | 5.994% | 0 pts ($0) | $2,821/mo | $62,530 |
Condo 10% Down | 10% | 720 credit score | 7.094% | 7.261% | 0 pts ($0) | $2,028/mo | $70,992 |
Conventional 10% Down | 10% | 720 credit score | 6.561% | 6.715% | 0 pts ($0) | $1,921/mo | $66,143 |
Conventional 20% Down | 20% | 740 credit score | 6.865% | 6.900% | 0 pts ($0) | $1,761/mo | $54,407 |
Conventional 5% Down | 5% | 700 credit score | 6.986% | 7.463% | 0 pts ($0) | $2,117/mo | $73,898 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.310% | 7.348% | 0 pts ($0) | $2,302/mo | $79,053 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,985/mo | $67,269 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.773% | 7.147% | 0 pts ($0) | $2,116/mo | $76,294 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.609% | 6.643% | 0 pts ($0) | $2,145/mo | $71,964 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,768/mo | $66,008 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.000% | 6.769% | 0 pts ($0) | $1,975/mo | $69,303 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,033/mo | $71,161 |
FHA Streamline Refi | 0% | 640 credit score | 6.145% | 6.916% | 0 pts ($0) | $2,079/mo | $73,305 |
House Hacking Conforming 5% | 5% | 680 credit score | 6.960% | 7.203% | 0 pts ($0) | $2,112/mo | $76,517 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $2,099/mo | $41,096 |
Investment Property 25% Down | 25% | 740 credit score | 7.576% | 7.616% | 0 pts ($0) | $1,773/mo | $56,403 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $1,808/mo | $56,511 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $1,951/mo | $59,816 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.371% | 7.146% | 0 pts ($0) | $2,054/mo | $72,978 |
Second Home 10% Down | 10% | 720 credit score | 6.019% | 6.593% | 0 pts ($0) | $1,814/mo | $61,220 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,765/mo | $54,561 |
VA 0% Down | 0% | 700 credit score | 5.997% | 6.239% | 0 pts ($0) | $2,054/mo | $67,733 |
VA Cash-Out Refi | 0% | 640 credit score | 6.002% | 6.368% | 0 pts ($0) | $2,055/mo | $67,784 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.024% | 6.175% | 0 pts ($0) | $2,060/mo | $68,011 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $1,846/mo | $58,405 |
Frequently Asked Questions
What are today's mortgage rates in 37308, , TN across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 37308, , TN is 6.865% (with an estimated monthly payment of $2,616). Active program rates also include FHA 30-year fixed loans at 6.000% and VA 0%-down fixed loans at 5.997%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 37308, , 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 37308, , TN have fluctuated between a low of 6.487% and a high of 6.947%. 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 37308, , TN?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $335,500 in 37308, , TN, a standard 20%-down Conventional loan requires an upfront cash down payment of $67,100 but keeps your monthly payment lower at $2,616/mo (at 6.865% interest) with no monthly PMI. In comparison, an FHA loan requires only $11,743 (3.5% down) but has an estimated payment of $2,933/mo (at 6.000% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $323,758 falls comfortably within the local HUD FHA loan limit of $524,225 (1-unit), making FHA financing an exceptionally accessible, high-leverage entry point into the market.
What is the maximum conforming loan limit in 37308 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 37308 is $806,501. With a typical local home value of $335,500 in , a standard 20%-down mortgage requires a loan size of $268,400. 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 37308, , TN impact estimated mortgage payments?
The median home value in 37308, , TN is estimated at $335,500. Buying a typical home here with a standard 20% down payment ($67,100) translates to an estimated starting monthly mortgage payment of $2,616 (principal and interest). Compared to the local area median household income of $76,464 ($6,372/mo), this basic housing payment represents approximately 41.1% 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.