Compare mortgage rates and fees for leading lenders in Nashville, TN. 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 lender offering the best 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.
November 11, 2019
The current average rate for a 30 year fixed rate mortgage in Nashville is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%
The median home value for Nashville, TN (Davidson County) is $281,475
The median household income for Nashville, TN (Davidson County) is $55,052
Based on current mortgage rates and a 10% down payment, you need to make $52,222 per year to buy the median priced home in Nashville
The home price you can afford to buy based on household income in Nashville is 105% of the median home value which means housing prices are average
Nashville (Davidson County) ranks 95 out of 95 counties in Tennessee and 2,970 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
US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs
FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat
Income Growth: https://www.bls.gov
National Average Rates: http://www.freddiemac.com/pmms/
Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx
FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm
VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp
FREEandCLEAR Housing Affordability Index