Magnetoresistance (MR) devices with symmetric (even-function) resistance change to an external magnetic field is useful for various magnetic sensor applications, such as encoders for position and rotation detection and ultra-sensitive magnetic field sensors, when combined with a frequency modulation method. In this study, we developed tunnel magnetoresistance (TMR) sensors with even-function resistance–field (R–H) responses and investigated their noise properties. The developed TMR sensors achieved a higher MR ratio (∼120%) than those of conventional giant magnetoresistive multilayers exhibiting even-function R–H responses. The TMR sensors were realized by stabilizing the magnetization of the magnetic free layer (FL) in an anti-parallel configuration with respect to that of the reference layer. Orange-peel ferromagnetic coupling between the FL and a pinned layer through an AgSn spacer layer was used to control the strength of the unidirectional magnetic anisotropy of the FL, by which even-function R–H responses with negligible hysteresis were obtained. The sensors enabled us to study the intrinsic noise properties of TMR devices, particularly under an external AC modulation magnetic field. We found that the magnetic 1/f noise originating from thermal magnetization fluctuation was the dominant noise of the TMR sensors at low frequencies. We observed that the application of an AC modulation field to the TMR sensors increased the noise owing to the magnetic domain fluctuation and the transfer of magnetic 1/f noise to the modulation frequency.