Memphis, TN Mortgage Rates
Live Mortgage Rates in Memphis, Tennessee
6.490%
Memphis Conventional Purchase benchmark (80% LTV, 780 FICO), updated Thursday, November 5, 2026 at 8:00 PM UTC
Sourced live from hundreds of wholesale lenders serving Memphis and Tennessee
Memphis Benchmark Rates
Lowest available rate with no discount points paid in Memphis, TN for each standard scenario, sourced live
| Scenario | Rate (no points) | APR |
|---|---|---|
Conventional Conventional Purchase (80% LTV, 780 FICO) · Memphis, TN | 6.490% | 6.535% |
FHA FHA Purchase (96.5% LTV, 680 FICO) · Memphis, TN | 5.990% | 6.020% |
VA VA Purchase (100% LTV, 680 FICO) · Memphis, TN | 5.990% | 6.020% |
2026 Loan Limits in Tennessee
Conforming
$832,750 baseline
High-cost Tennessee counties go up to $1,249,125 - Memphis may qualify depending on the specific property county.
FHA
$541,287
Standard FHA limit. Select high-cost Tennessee counties allow more, up to $1,249,125 - check your specific county.
About Memphis Mortgage Rates
The rates shown above reflect the lowest available wholesale pricing for a Memphis, Tennessee homebuyer at the time of the snapshot. Rate Direct pulls pricing from hundreds of lenders serving Tennessee and refreshes hourly, so the numbers stay close to what a licensed mortgage broker could actually source for a Memphis property.
Your specific Memphis rate depends on credit score, loan amount, property type (single-family vs multi-unit vs condo), loan-to-value, and loan purpose. A 780 FICO buyer at 80% LTV will price materially better than a 680 FICO buyer at 95% LTV. To see your exact rate across the full Tennessee lender network, use the Rate Direct pricer.
Memphis buyers also have access to FHA, VA, and USDA programs with lower down payments and more flexible credit guidelines. For down payment assistance specific to Tennessee, see the Tennessee DPA guide.
Get your personalized Memphis mortgage rate
The rates above are the market benchmark for Memphis. Your actual rate depends on your scenario.