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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 | 7.017%APR 7.057% | 0 pts$0 | $923/moP&I $923 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.078%APR 6.852% | 0 pts$0 | $917/moP&I $852 · MI $65 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.276%APR 6.335% | 0 pts$0 | $855/moP&I $855 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.785%APR 6.826% | 0 pts$0 | $902/moP&I $902 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.731% | 0 pts$0 | $981/moP&I $981 · 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 | 6.276% | 6.335% | 0 pts ($0) | $1,190/mo | $24,460 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.031% | 6.091% | 0 pts ($0) | $1,464/mo | $32,722 |
Condo 10% Down | 10% | 720 credit score | 7.242% | 7.417% | 0 pts ($0) | $1,063/mo | $37,345 |
Conventional 10% Down | 10% | 720 credit score | 6.830% | 6.994% | 0 pts ($0) | $1,019/mo | $35,409 |
Conventional 20% Down | 20% | 740 credit score | 7.017% | 7.057% | 0 pts ($0) | $923/mo | $28,722 |
Conventional 5% Down | 5% | 700 credit score | 7.199% | 7.689% | 0 pts ($0) | $1,117/mo | $39,206 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.467% | 7.511% | 0 pts ($0) | $1,207/mo | $41,631 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,025/mo | $34,727 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.849% | 7.229% | 0 pts ($0) | $1,101/mo | $39,771 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.785% | 6.826% | 0 pts ($0) | $1,127/mo | $38,069 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,429/mo | $34,076 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.078% | 6.852% | 0 pts ($0) | $1,028/mo | $36,176 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,049/mo | $36,736 |
FHA Streamline Refi | 0% | 640 credit score | 6.273% | 7.050% | 0 pts ($0) | $1,088/mo | $38,522 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.122% | 7.373% | 0 pts ($0) | $1,108/mo | $40,305 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $1,084/mo | $21,215 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.731% | 0 pts ($0) | $919/mo | $29,310 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $934/mo | $29,173 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $1,007/mo | $30,880 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.441% | 7.221% | 0 pts ($0) | $1,068/mo | $38,033 |
Second Home 10% Down | 10% | 720 credit score | 6.079% | 6.658% | 0 pts ($0) | $943/mo | $31,886 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $911/mo | $28,167 |
VA 0% Down | 0% | 700 credit score | 6.085% | 6.333% | 0 pts ($0) | $1,070/mo | $35,434 |
VA Cash-Out Refi | 0% | 640 credit score | 6.086% | 6.459% | 0 pts ($0) | $1,071/mo | $35,440 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.104% | 6.260% | 0 pts ($0) | $1,073/mo | $35,536 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $953/mo | $30,151 |
Frequently Asked Questions
What are today's mortgage rates in 38564, , TN across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 38564, , TN is 7.017% (with an estimated monthly payment of $1,475). Active program rates also include FHA 30-year fixed loans at 6.078% and VA 0%-down fixed loans at 6.085%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 38564, , 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 38564, , TN have fluctuated between a low of 6.911% and a high of 7.166%. 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 38564, , TN?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $173,200 in 38564, , TN, a standard 20%-down Conventional loan requires an upfront cash down payment of $34,640 but keeps your monthly payment lower at $1,475/mo (at 7.017% interest) with no monthly PMI. In comparison, an FHA loan requires only $6,062 (3.5% down) but has an estimated payment of $1,642/mo (at 6.078% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $167,138 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 38564 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 38564 is $806,501. With a typical local home value of $173,200 in , a standard 20%-down mortgage requires a loan size of $138,560. 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 38564, , TN impact estimated mortgage payments?
The median home value in 38564, , TN is estimated at $173,200. Buying a typical home here with a standard 20% down payment ($34,640) translates to an estimated starting monthly mortgage payment of $1,475 (principal and interest). Compared to the local area median household income of $57,396 ($4,783/mo), this basic housing payment represents approximately 30.8% 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.