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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 | 6.952%APR 6.993% | 0 pts$0 | $908/moP&I $908 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.084%APR 6.859% | 0 pts$0 | $908/moP&I $844 · MI $64 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.099%APR 6.158% | 0 pts$0 | $831/moP&I $831 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.806%APR 6.848% | 0 pts$0 | $895/moP&I $895 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.703% | 0 pts$0 | $971/moP&I $971 · 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 | 6.099% | 6.158% | 0 pts ($0) | $1,165/mo | $23,511 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.076% | 6.138% | 0 pts ($0) | $1,454/mo | $32,618 |
Condo 10% Down | 10% | 720 credit score | 7.287% | 7.464% | 0 pts ($0) | $1,057/mo | $37,180 |
Conventional 10% Down | 10% | 720 credit score | 6.862% | 7.027% | 0 pts ($0) | $1,012/mo | $35,203 |
Conventional 20% Down | 20% | 740 credit score | 6.952% | 6.993% | 0 pts ($0) | $908/mo | $28,166 |
Conventional 5% Down | 5% | 700 credit score | 7.261% | 7.753% | 0 pts ($0) | $1,112/mo | $39,118 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.395% | 7.439% | 0 pts ($0) | $1,187/mo | $40,841 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,015/mo | $34,379 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.859% | 7.240% | 0 pts ($0) | $1,091/mo | $39,423 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.806% | 6.848% | 0 pts ($0) | $1,119/mo | $37,796 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,415/mo | $33,735 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.084% | 6.859% | 0 pts ($0) | $1,019/mo | $35,844 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,039/mo | $36,368 |
FHA Streamline Refi | 0% | 640 credit score | 6.278% | 7.056% | 0 pts ($0) | $1,077/mo | $38,162 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.213% | 7.467% | 0 pts ($0) | $1,107/mo | $40,348 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $1,073/mo | $21,003 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.703% | 0 pts ($0) | $910/mo | $29,016 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $924/mo | $28,881 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $997/mo | $30,571 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.447% | 7.228% | 0 pts ($0) | $1,058/mo | $37,682 |
Second Home 10% Down | 10% | 720 credit score | 6.088% | 6.668% | 0 pts ($0) | $934/mo | $31,608 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $902/mo | $27,885 |
VA 0% Down | 0% | 700 credit score | 6.104% | 6.353% | 0 pts ($0) | $1,062/mo | $35,180 |
VA Cash-Out Refi | 0% | 640 credit score | 6.109% | 6.483% | 0 pts ($0) | $1,062/mo | $35,206 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.117% | 6.274% | 0 pts ($0) | $1,063/mo | $35,248 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $944/mo | $29,849 |
Frequently Asked Questions
What are today's mortgage rates in 38471, , TN across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 38471, , TN is 6.952% (with an estimated monthly payment of $1,315). Active program rates also include FHA 30-year fixed loans at 6.084% and VA 0%-down fixed loans at 6.104%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 38471, , 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 38471, , TN have fluctuated between a low of 6.606% and a high of 7.060%. 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 38471, , TN?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $171,465 in 38471, , TN, a standard 20%-down Conventional loan requires an upfront cash down payment of $34,293 but keeps your monthly payment lower at $1,315/mo (at 6.952% interest) with no monthly PMI. In comparison, an FHA loan requires only $6,001 (3.5% down) but has an estimated payment of $1,475/mo (at 6.084% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $165,464 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 38471 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 38471 is $806,501. With a typical local home value of $171,465 in , a standard 20%-down mortgage requires a loan size of $137,172. 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 38471, , TN impact estimated mortgage payments?
The median home value in 38471, , TN is estimated at $171,465. Buying a typical home here with a standard 20% down payment ($34,293) translates to an estimated starting monthly mortgage payment of $1,315 (principal and interest). Compared to the local area median household income of $55,993 ($4,666/mo), this basic housing payment represents approximately 28.2% 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.