Get competitive home loan rates across Nashville, Memphis, Knoxville, and Chattanooga. Compare conventional, FHA, VA, and jumbo programs from Tennessee lenders.
Powered by Browse Lenders® the nation's trusted mortgage and credit-education platform for employees and consumers.
Tennessee homebuyers benefit from competitive mortgage markets offering rates comparable to national averages. With current conventional rates at 6.25-6.75%, FHA at 6.50-7.00%, and VA loans at 6.00-6.50%, comparing multiple Tennessee lenders reveals rate differences that save $50-150/month on typical home purchases.
Compare Tennessee mortgage rates from national lenders, regional banks, and credit unions to find the best pricing for your home loan. Rate shopping within 14 days counts as single credit inquiry.
Compare loan programs available across Tennessee markets.
Competitive rates for Tennessee borrowers with good credit. 3-5% down payment options; no mortgage insurance at 20% down. Best rates currently 6.25-6.75% for qualified borrowers in Nashville and Memphis markets.
FHA financing allows 3.5% down with flexible credit requirements. Tennessee FHA rates currently 6.50-7.00%. Popular with first-time buyers across Knoxville, Chattanooga, and smaller Tennessee markets.
Zero down payment mortgages for Tennessee veterans and active military. Competitive VA rates 6.00-6.50% with no mortgage insurance required. Strong presence near Fort Campbell, Memphis Naval Support Activity.
Tennessee borrowers save by comparing conventional, FHA, VA, and jumbo programs. Rate differences of 0.25-0.50% translate to $50-100/month savings on typical Tennessee home.
Compare TN Mortgage RatesUnderstand rates, market trends, and how to qualify for best pricing.
Rates determined by credit score, down payment, loan type, and lender pricing. Tennessee rates competitive with national averages; Nashville market slightly tighter than rural areas.
Tennessee mortgage rates typically track national averages within 0.10-0.25%. Memphis and Nashville competitive with major metros; rural Tennessee may see 0.10% premium due to lower loan volumes.
Lock rates for 30-60 days at no cost; extended locks (90+ days) cost 0.25-0.50%. Tennessee closing timelines typically 25-35 days; coordinate lock with expected closing date.
740+ credit gets best rates; each 20-point drop costs ~0.25% in rate. 680 vs 740 credit = 0.50% difference = $85/month on $350K Tennessee home loan.
Tennessee mortgage rates vary by lender, credit score, loan program, and down payment. Comparing 3-5 lenders reveals rate differences of 0.25-0.75%—saving $50-150/month on typical Tennessee home purchase.
Learn how to:
Tennessee lenders offer competitive rates across conventional, FHA, VA, and jumbo programs. National lenders, regional banks, and local credit unions all compete for Tennessee borrowers.
Rate shopping with multiple Tennessee lenders (within 14-day period) counts as single credit inquiry. Get 3-5 quotes to ensure competitive pricing and best loan terms.
Real stories from Tennessee borrowers comparing rates and programs.
"Nashville buyer: Compared 4 lenders; found 0.50% rate difference. Lower rate saved $130/month on $400K home. Rate shopping took 3 days; worth the effort!"
Michael & Sarah Johnson
"Nashville Conventional Loan"
"Memphis first-time buyer: FHA loan at 6.75% with 3.5% down. Credit score 640; improved to 680 before applying and saved 0.50% vs initial quote."
Jennifer Martinez
"Memphis FHA Purchase"
"Knoxville veteran: VA loan at 6.25% with zero down. No mortgage insurance saved $200/month vs FHA option. VA loan best choice for military buyers."
Robert Thompson
"Knoxville VA Loan"
"Chattanooga refinance: Dropped rate from 7.25% to 6.50% by refinancing. $280/month savings on $275K balance. Breakeven in 9 months; worth it!"
Amanda & David Lee
"Chattanooga Refinance"
"Franklin buyer: Shopped local credit union vs national lender. Credit union beat national rate by 0.375%. Saved $95/month on $310K purchase."
James Wilson
"Franklin Conventional"
"Murfreesboro first-timer: Used Tennessee Housing Development Agency (THDA) assistance. 5% down payment help + competitive rate made homeownership possible."
Carlos & Maria Rodriguez
"Murfreesboro THDA Loan"
Tennessee markets offer strong lending competition and affordable housing.
Tennessee benefits from competitive mortgage markets in Nashville, Memphis, Knoxville, and Chattanooga. Multiple national lenders, regional banks, and credit unions compete for Tennessee borrowers—resulting in competitive rates.
No state income tax and lower cost of living make Tennessee attractive for homeownership. Lower home prices vs coastal markets mean smaller loan amounts and lower monthly payments.
Tennessee mortgage rates competitive with national averages. Nashville and Memphis metro areas attract national lenders; Knoxville and Chattanooga markets offer strong regional competition.
Tennessee median home prices significantly below coastal markets. Nashville average $425K; Memphis $250K; Knoxville $325K; Chattanooga $310K. Lower prices mean smaller loans and lower monthly payments.
Tennessee has no state income tax on wages—increasing take-home pay and debt-to-income qualification power. More income available for housing payment vs high-tax states.
Tennessee homebuyers benefit from competitive lending markets, state assistance programs, and comprehensive mortgage education resources.
THDA Programs Tennessee Housing Development Agency offers down payment assistance, competitive rates, and first-time buyer programs across all 95 Tennessee counties.
Rate Comparison Tools Compare Tennessee mortgage rates from multiple lenders instantly. See how credit score, down payment, and loan type affect your rate.
Tennessee Lender Network Access national lenders, regional banks, and Tennessee credit unions. Compare rates from all lender types to find best pricing.
Credit score significantly impacts Tennessee mortgage rates. Understanding rate tiers helps you estimate monthly payment and total borrowing cost.
Excellent Credit (740+)
Best Tennessee rates available. Conventional: 6.25-6.50%; FHA: 6.50-6.75%; VA: 6.00-6.25%. Fastest approval; lowest down payment requirements.
Good Credit (680-739)
Competitive Tennessee rates. Conventional: 6.50-6.75%; FHA: 6.75-7.00%; VA: 6.25-6.50%. Strong approval odds; typical rate tier for most borrowers.
Fair Credit (620-679)
Moderate Tennessee rates. Conventional: 6.75-7.25%; FHA: 7.00-7.50%. Higher down payment may improve rate. Consider credit improvement before applying.
Tennessee rate trends, market analysis, and mortgage comparison guides.
Understand how credit scores impact Tennessee mortgage rates. Compare rate tiers from 620-800+ and learn strategies to improve rates before applying.
Read More
Compare Tennessee mortgage rates effectively. Learn how to shop multiple lenders, understand APR vs rate, and save thousands on your Tennessee home loan.
Read More
Understand THDA mortgage programs for Tennessee homebuyers. Learn eligibility, rates, down payment assistance, and how THDA compares to conventional financing.
Read MoreCommon questions about Tennessee home loan rates and programs.
Get personalized rate quotes from Tennessee lenders. Compare conventional, FHA, VA, and jumbo programs. Pre-approval takes minutes.