Compare Nashville, TN mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Nashville.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Nashville. Plus, shopping lenders is free and there is no obligation.
February 8, 2023
Below we provide helpful information on the real estate market, home prices and housing affordability in Nashville. Understand how much you need to earn to afford a home in Nashville, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Nashville fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Nashville is right for you.
The median home value for Nashville, TN (Davidson County) is $370,841
Based on current mortgage rates and a 10% down payment, you need to make $60,761 per year to buy the median priced home in Nashville
With this income, you could qualify for a $333,757 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Nashville is $1,407
The median household income for Nashville, TN (Davidson County) is $69,109
Based on this income, you can afford a home valued at approximately $421,791
The home price you can afford to buy based on household income in Nashville is 114% of the median home value which means housing prices are average. Nashville (Davidson County) ranks 95 out of 95 counties in Tennessee and 2,942 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Nashville, TN is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Nashville (Davidson County) below.
Conforming loan limits for Nashville, TN
FHA loan limits for Nashville, TN
VA loan limits for Nashville, TN