Athens FHA Loan Rates, Closing Costs & Stats

Athens, TN

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Athens's 59 lenders originated 261 FHA loans during 2023. The total origination value was $58,365,000, with an average FHA loan value of $223,621.

    Athens FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Athens averaged 6.14% for the week of 2025-02-14, compared to the national average (all FHA variants) of 6.515% for the same period.

    Athens's average FHA mortgage closing costs are $7,305.

    The average rate for the prior week (2025-02-07) was 6.25% and one month ago for the week of 2025-01-10, the average rate was 6.31%.

    The average rate one year ago was 6.44%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.32%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Athens FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Athens level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 42 5.50% $7,748
    MORTGAGE INVESTORS GROUP, INC. 27 6.46% $8,525
    CARDINAL FINANCIAL 16 6.26% $11,559
    QUICKEN LOANS, LLC 16 6.23% $10,020
    UNITED WHOLESALE MORTGAGE, LLC 14 6.19% $12,109
    FIRST COMMUNITY MORTGAGE, INC. 9 6.74% $8,080
    NEWREZ LLC 9 6.51% $9,924
    FREEDOM MORTGAGE CORPORATION 7 6.96% $11,541
    CMG MORTGAGE, INC. 7 6.55% $10,184
    LOANDEPOT.COM, LLC 5 6.47% $10,906
    CapStar Bank 3 6.96% $8,166
    TJC Mortgage, Inc. 3 6.21% $10,231
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.54% $9,786
    MOVEMENT MORTGAGE, LLC 3 7.42% $11,754
    COMMUNITY MORTGAGE CORPORATION 3 6.21% $8,982
    Equity Prime Mortgage LLC 2 7.25% $11,741
    Sierra Pacific Mortgage Company, Inc. 2 6.31% $9,207
    STOCKTON MORTGAGE CORPORATION 2 6.63% $9,142
    Gateway First Bank 2 7.00% $4,657
    United Community Bank 2 7.44% $11,285
    ISERVE RESIDENTIAL LENDING, LLC 2 7.12% $13,359
    AMERICAN FINANCIAL RESOURCES, INC. 2 6.50% $12,761
    AMERICAN FINANCIAL NETWORK, INC. 2 7.00% $12,486
    Mr. Cooper ( Nationstar Mortgage ) 2 6.25% $11,782
    BROKER SOLUTIONS, INC. 2 7.19% $11,633
    NFM, INC. 2 6.81% $9,911
    First Horizon Bank 2 6.44% $7,321
    LEADERONE FINANCIAL CORPORATION 2 6.00% $10,089
    Regions Bank 2 6.88% $7,265
    Affiliated Bank 1 5.13% $16,043
    Waterstone Mortgage Corporation 1 6.63% $13,228
    AMERICAN FINANCING CORPORATION 1 6.13% $14,698
    AMERISAVE MORTGAGE CORPORATION 1 5.50% $9,269
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.13% $11,665
    CALCON MUTUAL MORTGAGE LLC 1 7.63% $13,215
    Carrington Mortgage Services, LLC 1 6.13% $11,857
    Citizens Bank 1 5.50% $20,575
    CITYWIDE HOME LOANS, LLC 1 6.75% $7,669
    CROSSCOUNTRY MORTGAGE, LLC 1 5.75% $10,141
    EMM LOANS LLC 1 6.88% $11,696
    FirstBank 1 7.13% $12,882
    First Citizens National Bank 1 5.75% $4,776
    FirstTrust Home Loans, Inc. 1 7.00% $11,593
    Flagstar Bank, FSB 1 6.75% $13,779
    GMFS LLC 1 7.75% $4,921
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.25% $7,691
    HOMESIDE FINANCIAL, LLC 1 7.25% $9,022
    LAKEVIEW LOAN SERVICING, LLC 1 5.75% $9,038
    MID AMERICA MORTGAGE, INC. 1 6.75% $9,890
    MILEND, INC. 1 7.25% $11,426
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.00% $11,622
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $14,630
    PANORAMA MORTGAGE GROUP, LLC 1 6.25% $10,039
    Plains Commerce Bank 1 7.00% $20,629
    RELIANCE FIRST CAPITAL, LLC 1 3.75% $4,755
    Renasant Bank 1 7.25% $8,008
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 6.75% $13,915
    SUN WEST MORTGAGE COMPANY, INC. 1 7.13% $9,338
    VAN DYK MORTGAGE CORPORATION 1 7.63% $12,980

    The top Athens FHA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 42 FHA loans originated. Their average total fees are $7,748, which is $776 lower than the next largest lender, MORTGAGE INVESTORS GROUP, INC..

    The lowest fee Athens FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($7,748), MORTGAGE INVESTORS GROUP, INC. ($8,525), QUICKEN LOANS, LLC ($10,020), CARDINAL FINANCIAL ($11,559) and UNITED WHOLESALE MORTGAGE, LLC ($12,109).

    The lowest rate Athens FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.50%), UNITED WHOLESALE MORTGAGE, LLC (6.19%), QUICKEN LOANS, LLC (6.23%), CARDINAL FINANCIAL (6.26%) and MORTGAGE INVESTORS GROUP, INC. (6.46%).

    Athens FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    ATHENS, TN MCMINN 2022 $420,680 $538,650 $651,050 $809,150
    ATHENS, TN MCMINN 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Athens (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $149,125 (0.9%) $213,987 (9.9%) 0.00 242
    2018-02-01 $150,875 (1.0%) $222,578 (11.0%) 0.00 223
    2018-03-01 $159,400 (2.9%) $227,378 (9.3%) 0.00 227
    2018-04-01 $164,800 (9.9%) $232,086 (14.4%) 0.00 241
    2018-05-01 $179,650 (15.2%) $243,246 (18.3%) 0.00 256
    2018-06-01 $174,950 (7.4%) $236,760 (12.7%) 0.00 282
    2018-07-01 $175,700 (9.1%) $238,949 (15.7%) 0.00 281
    2018-08-01 $187,000 (17.8%) $238,239 (14.6%) 0.00 297
    2018-09-01 $182,500 (14.1%) $239,496 (13.5%) 0.00 289
    2018-10-01 $186,750 (21.2%) $245,408 (19.6%) 0.00 287
    2018-11-01 $172,450 (15.7%) $239,173 (21.9%) 0.00 282
    2018-12-01 $169,900 (17.2%) $223,537 (4.8%) 0.00 264
    2019-01-01 $169,900 (13.9%) $220,873 (3.2%) 0.00 261
    2019-02-01 $179,175 (18.8%) $225,411 (1.3%) 0.00 256
    2019-03-01 $186,329 (16.9%) $227,554 (0.1%) 0.00 237
    2019-04-01 $197,400 (19.8%) $235,998 (1.7%) 0.00 230
    2019-05-01 $217,000 (20.8%) $246,339 (1.3%) 0.00 243
    2019-06-01 $224,950 (28.6%) $249,170 (5.2%) 0.00 240
    2019-07-01 $204,725 (16.5%) $240,314 (0.6%) 0.00 242
    2019-08-01 $199,900 (6.9%) $240,929 (1.1%) 0.00 237
    2019-09-01 $188,650 (3.4%) $237,349 (-0.9%) 0.00 245
    2019-10-01 $184,700 (-1.1%) $236,885 (-3.5%) 0.00 244
    2019-11-01 $169,900 (-1.5%) $234,147 (-2.1%) 0.00 231
    2019-12-01 $175,675 (3.4%) $231,178 (3.4%) 0.00 215
    2020-01-01 $178,175 (4.9%) $233,092 (5.5%) 0.00 208
    2020-02-01 $189,900 (6.0%) $250,702 (11.2%) 0.00 193
    2020-03-01 $198,400 (6.5%) $255,397 (12.2%) 0.00 168
    2020-04-01 $184,950 (-6.3%) $250,972 (6.4%) 0.00 158
    2020-05-01 $229,950 (6.0%) $273,109 (10.9%) 0.00 138
    2020-06-01 $229,900 (2.2%) $281,268 (12.9%) 0.00 127
    2020-07-01 $218,550 (6.8%) $258,251 (7.5%) 0.00 124
    2020-08-01 $219,900 (10.0%) $266,786 (10.7%) 0.00 115
    2020-09-01 $219,900 (16.6%) $287,358 (21.1%) 0.00 99
    2020-10-01 $220,750 (19.5%) $269,858 (13.9%) 0.00 101
    2020-11-01 $214,950 (26.5%) $273,542 (16.8%) 0.00 102
    2020-12-01 $196,500 (11.9%) $268,032 (15.9%) 0.00 94
    2021-01-01 $190,000 (6.6%) $286,260 (22.8%) 0.00 73
    2021-02-01 $236,197 (24.4%) $309,330 (23.4%) 0.00 62
    2021-03-01 $256,175 (29.1%) $330,492 (29.4%) 0.00 57
    2021-04-01 $272,400 (47.3%) $358,077 (42.7%) 0.00 52
    2021-05-01 $287,500 (25.0%) $403,574 (47.8%) 0.00 76
    2021-06-01 $266,175 (15.8%) $391,185 (39.1%) 0.00 94
    2021-07-01 $279,900 (28.1%) $430,029 (66.5%) 0.00 101
    2021-08-01 $249,925 (13.7%) $391,090 (46.6%) 0.00 109
    2021-09-01 $250,700 (14.0%) $396,811 (38.1%) 0.00 112
    2021-10-01 $259,900 (17.7%) $406,626 (50.7%) 0.00 98
    2021-11-01 $257,300 (19.7%) $381,959 (39.6%) 0.00 82
    2021-12-01 $282,175 (43.6%) $404,444 (50.9%) 0.00 85
    2022-01-01 $319,900 (68.4%) $427,234 (49.3%) 0.00 73
    2022-02-01 $326,323 (38.2%) $442,525 (43.1%) 0.00 74
    2022-03-01 $324,975 (26.9%) $470,311 (42.3%) 0.00 75
    2022-04-01 $320,000 (17.5%) $418,265 (16.8%) 0.00 84
    2022-05-01 $327,000 (13.7%) $424,153 (5.1%) 0.00 105
    2022-06-01 $322,475 (21.2%) $414,897 (6.1%) 0.00 118
    2022-07-01 $311,500 (11.3%) $403,250 (-6.2%) 0.00 160
    2022-08-01 $337,425 (35.0%) $414,681 (6.0%) 0.00 157
    2022-09-01 $345,999 (38.0%) $452,105 (13.9%) 0.00 162
    2022-10-01 $344,645 (32.6%) $457,314 (12.5%) 0.00 172
    2022-11-01 $336,564 (30.8%) $442,300 (15.8%) 0.00 192
    2022-12-01 $336,500 (19.3%) $464,095 (14.8%) 0.00 181
    2023-01-01 $344,810 (7.8%) $484,938 (13.5%) 0.00 142
    2023-02-01 $344,998 (5.7%) $446,468 (0.9%) 0.00 128
    2023-03-01 $345,245 (6.2%) $447,546 (-4.8%) 0.00 119
    2023-04-01 $349,900 (9.3%) $486,966 (16.4%) 0.00 107
    2023-05-01 $323,750 (-1.0%) $437,123 (3.1%) 0.00 149
    2023-06-01 $345,088 (7.0%) $455,470 (9.8%) 0.00 152
    2023-07-01 $325,000 (4.3%) $451,995 (12.1%) 0.00 157
    2023-08-01 $362,500 (7.4%) $481,706 (16.2%) 0.00 171
    2023-09-01 $349,000 (0.9%) $468,849 (3.7%) 0.00 181
    2023-10-01 $345,778 (0.3%) $445,046 (-2.7%) 0.00 195
    2023-11-01 $336,000 (-0.2%) $426,986 (-3.5%) 0.00 208
    2023-12-01 $325,000 (-3.4%) $446,064 (-3.9%) 0.00 205
    2024-01-01 $338,100 (-2.0%) $437,804 (-9.7%) 0.00 184
    2024-02-01 $364,750 (5.7%) $466,105 (4.4%) 0.00 178
    2024-03-01 $379,900 (10.0%) $470,983 (5.2%) 0.00 172
    2024-04-01 $333,450 (-4.7%) $436,156 (-10.4%) 0.00 163
    2024-05-01 $325,450 (0.5%) $424,761 (-2.8%) 0.00 189
    2024-06-01 $325,000 (-5.8%) $425,342 (-6.6%) 0.00 218
    2024-07-01 $327,000 (0.6%) $423,638 (-6.3%) 0.00 230
    2024-08-01 $331,900 (-8.4%) $437,604 (-9.2%) 0.00 226
    2024-09-01 $327,450 (-6.2%) $414,651 (-11.6%) 0.00 241
    2024-10-01 $325,000 (-6.0%) $405,911 (-8.8%) 0.00 260
    2024-11-01 $325,000 (-3.3%) $429,150 (0.5%) 0.00 258
    2024-12-01 $324,950 (0.0%) $436,844 (-2.1%) 0.00 250
    2025-01-01 $322,225 (-4.7%) $435,862 (-0.4%) 0.00 241
    Athens's median listing price for 2025-01-01 was $322,225, a difference of $-15,875 (-4.7%) versus the prior year and $-2,725 versus the prior month.

    Athens's median listing price comes in at 0% of the national average.

    Athens's average listing price for 2025-01-01 was $435,862, a difference of $-1,942 (-0.4%) versus the prior year and $-982 versus the prior month.

    For the 2025-01-01 period, Athens had 241 MLS listings, a difference of -9 listings (-4%) versus the prior month and 57 listings (31%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Athens (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,617 sqft
    2018-02-01 0 days 1,675 sqft
    2018-03-01 0 days 1,751 sqft
    2018-04-01 0 days 1,778 sqft
    2018-05-01 0 days 1,809 sqft
    2018-06-01 0 days 1,816 sqft
    2018-07-01 0 days 1,856 sqft
    2018-08-01 0 days 1,867 sqft
    2018-09-01 0 days 1,828 sqft
    2018-10-01 0 days 1,863 sqft
    2018-11-01 0 days 1,816 sqft
    2018-12-01 0 days 1,784 sqft
    2019-01-01 0 days 1,763 sqft
    2019-02-01 0 days 1,773 sqft
    2019-03-01 0 days 1,801 sqft
    2019-04-01 0 days 1,822 sqft
    2019-05-01 0 days 1,902 sqft
    2019-06-01 0 days 1,932 sqft
    2019-07-01 0 days 1,897 sqft
    2019-08-01 0 days 1,869 sqft
    2019-09-01 0 days 1,830 sqft
    2019-10-01 0 days 1,819 sqft
    2019-11-01 0 days 1,695 sqft
    2019-12-01 0 days 1,602 sqft
    2020-01-01 0 days 1,665 sqft
    2020-02-01 0 days 1,829 sqft
    2020-03-01 0 days 1,837 sqft
    2020-04-01 0 days 1,829 sqft
    2020-05-01 0 days 1,877 sqft
    2020-06-01 0 days 1,959 sqft
    2020-07-01 0 days 1,922 sqft
    2020-08-01 0 days 1,998 sqft
    2020-09-01 0 days 2,044 sqft
    2020-10-01 0 days 2,074 sqft
    2020-11-01 0 days 1,934 sqft
    2020-12-01 0 days 1,832 sqft
    2021-01-01 0 days 1,800 sqft
    2021-02-01 0 days 1,870 sqft
    2021-03-01 0 days 1,884 sqft
    2021-04-01 0 days 1,849 sqft
    2021-05-01 0 days 1,920 sqft
    2021-06-01 0 days 1,845 sqft
    2021-07-01 0 days 2,007 sqft
    2021-08-01 0 days 1,966 sqft
    2021-09-01 0 days 1,890 sqft
    2021-10-01 0 days 1,842 sqft
    2021-11-01 0 days 1,904 sqft
    2021-12-01 0 days 1,895 sqft
    2022-01-01 0 days 1,908 sqft
    2022-02-01 0 days 1,965 sqft
    2022-03-01 0 days 1,898 sqft
    2022-04-01 0 days 1,927 sqft
    2022-05-01 0 days 1,916 sqft
    2022-06-01 0 days 1,840 sqft
    2022-07-01 0 days 1,778 sqft
    2022-08-01 0 days 1,872 sqft
    2022-09-01 0 days 1,900 sqft
    2022-10-01 0 days 1,949 sqft
    2022-11-01 0 days 1,999 sqft
    2022-12-01 0 days 1,991 sqft
    2023-01-01 0 days 2,072 sqft
    2023-02-01 0 days 2,049 sqft
    2023-03-01 0 days 2,047 sqft
    2023-04-01 0 days 1,991 sqft
    2023-05-01 0 days 1,965 sqft
    2023-06-01 0 days 1,963 sqft
    2023-07-01 0 days 1,900 sqft
    2023-08-01 0 days 1,848 sqft
    2023-09-01 0 days 1,819 sqft
    2023-10-01 0 days 1,736 sqft
    2023-11-01 0 days 1,699 sqft
    2023-12-01 0 days 1,698 sqft
    2024-01-01 0 days 1,712 sqft
    2024-02-01 0 days 1,743 sqft
    2024-03-01 0 days 1,809 sqft
    2024-04-01 0 days 1,680 sqft
    2024-05-01 0 days 1,680 sqft
    2024-06-01 0 days 1,643 sqft
    2024-07-01 0 days 1,612 sqft
    2024-08-01 0 days 1,758 sqft
    2024-09-01 0 days 1,696 sqft
    2024-10-01 0 days 1,644 sqft
    2024-11-01 0 days 1,675 sqft
    2024-12-01 0 days 1,650 sqft
    2025-01-01 0 days 1,662 sqft
    Athens's median listing age (time on market) for 2025-01-01 was 0 days.

    Athens's median square footage for active listings during the 2025-01-01 period was 1,662 sqft. One year prior, the average listing was 1,712 sqft.

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).