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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 | 6.851%APR 6.886% | 0 pts$0 | $2,474/moP&I $2,474 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 5.982%APR 6.750% | 0 pts$0 | $2,475/moP&I $2,299 · MI $176 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 5.913%APR 5.961% | 0 pts$0 | $2,242/moP&I $2,242 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.812%APR 6.847% | 0 pts$0 | $2,464/moP&I $2,464 · MI $0 | See details |
| Investment Property FixedConforming | 7.550%APR 7.590% | 0 pts$0 | $2,653/moP&I $2,653 · 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 | 5.913% | 5.961% | 0 pts ($0) | $3,168/mo | $62,676 |
15-Year Rate/Term Refi | 0% | 740 credit score | 5.887% | 5.936% | 0 pts ($0) | $3,954/mo | $87,192 |
Condo 10% Down | 10% | 720 credit score | 7.067% | 7.232% | 0 pts ($0) | $2,845/mo | $99,515 |
Conventional 10% Down | 10% | 720 credit score | 6.542% | 6.695% | 0 pts ($0) | $2,696/mo | $92,796 |
Conventional 20% Down | 20% | 740 credit score | 6.851% | 6.886% | 0 pts ($0) | $2,474/mo | $76,372 |
Conventional 5% Down | 5% | 700 credit score | 6.974% | 7.450% | 0 pts ($0) | $2,975/mo | $103,786 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.294% | 7.331% | 0 pts ($0) | $3,233/mo | $110,971 |
Conventional High Balance | 10% | 740 credit score | 7.013% | 7.046% | 0 pts ($0) | $2,829/mo | $96,275 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.754% | 7.128% | 0 pts ($0) | $2,970/mo | $107,056 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.812% | 6.847% | 0 pts ($0) | $3,080/mo | $104,113 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $3,894/mo | $92,850 |
FHA 3.5% Down | 3.5% | 680 credit score | 5.982% | 6.750% | 0 pts ($0) | $2,773/mo | $97,234 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,859/mo | $100,097 |
FHA Streamline Refi | 0% | 640 credit score | 6.113% | 6.883% | 0 pts ($0) | $2,914/mo | $102,651 |
House Hacking Conforming 5% | 5% | 680 credit score | 6.947% | 7.189% | 0 pts ($0) | $2,967/mo | $107,456 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $2,952/mo | $57,807 |
Investment Property 25% Down | 25% | 740 credit score | 7.550% | 7.590% | 0 pts ($0) | $2,487/mo | $79,060 |
Jumbo Conforming | 20% | 760 credit score | 7.051% | 7.084% | 0 pts ($0) | $2,525/mo | $78,648 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $2,744/mo | $84,140 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.352% | 7.126% | 0 pts ($0) | $2,884/mo | $102,389 |
Second Home 10% Down | 10% | 720 credit score | 5.997% | 6.569% | 0 pts ($0) | $2,546/mo | $85,834 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $2,482/mo | $76,748 |
VA 0% Down | 0% | 700 credit score | 5.979% | 6.221% | 0 pts ($0) | $2,884/mo | $95,014 |
VA Cash-Out Refi | 0% | 640 credit score | 5.986% | 6.352% | 0 pts ($0) | $2,886/mo | $95,116 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 5.997% | 6.147% | 0 pts ($0) | $2,889/mo | $95,275 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $2,597/mo | $82,155 |
Frequently Asked Questions
What are today's mortgage rates in 38482, , TN across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 38482, , TN is 6.851% (with an estimated monthly payment of $2,848). Active program rates also include FHA 30-year fixed loans at 5.982% and VA 0%-down fixed loans at 5.979%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 38482, , 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 38482, , TN have fluctuated between a low of 6.472% and a high of 6.932%. 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 38482, , TN?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $471,927 in 38482, , TN, a standard 20%-down Conventional loan requires an upfront cash down payment of $94,385 but keeps your monthly payment lower at $2,848/mo (at 6.851% interest) with no monthly PMI. In comparison, an FHA loan requires only $16,517 (3.5% down) but has an estimated payment of $3,192/mo (at 5.982% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $455,410 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 38482 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 38482 is $806,501. With a typical local home value of $471,927 in , a standard 20%-down mortgage requires a loan size of $377,542. 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 38482, , TN impact estimated mortgage payments?
The median home value in 38482, , TN is estimated at $471,927. Buying a typical home here with a standard 20% down payment ($94,385) translates to an estimated starting monthly mortgage payment of $2,848 (principal and interest). Compared to the local area median household income of $74,810 ($6,234/mo), this basic housing payment represents approximately 45.7% 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.