Clarksville FHA Loan Rates, Closing Costs & Stats

CLARKSVILLE, TN-KY

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.

Clarksville's 147 lenders originated 1,104 FHA loans during 2023. The total origination value was $276,850,000, with an average FHA loan value of $250,770.

Clarksville FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Clarksville averaged 6.28% for the week of 2024-05-24, compared to the national average (all FHA variants) of 6.746% for the same period.

Clarksville's average FHA mortgage closing costs are $7,415.

The average rate for the prior week (2024-05-17) was 6.28% and one month ago for the week of 2024-04-19, the average rate was 6.7%.

The average rate one year ago was 6.12%.

For refis of the same type during the week of 2024-05-24, the average rate was 6.72%.

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

Clarksville 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 Clarksville level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 98 6.22% $10,633
UNITED WHOLESALE MORTGAGE, LLC 67 6.15% $13,674
Mortgage Research Center, LLC 59 6.26% $6,067
GUARANTEED RATE, INC. 47 6.20% $12,379
STOCKTON MORTGAGE CORPORATION 43 6.58% $10,164
F&M Bank 41 5.95% $10,832
Flagstar Bank, FSB 38 6.46% $10,792
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 25 6.11% $12,131
PENNYMAC LOAN SERVICES, LLC 24 6.16% $13,394
CROSSCOUNTRY MORTGAGE, LLC 22 6.73% $11,351
BROKER SOLUTIONS, INC. 22 6.62% $11,264
SWBC MORTGAGE CORPORATION 20 6.38% $6,519
HOMESIDE FINANCIAL, LLC 19 6.75% $10,128
CMG MORTGAGE, INC. 19 6.39% $15,034
FIRST COMMUNITY MORTGAGE, INC. 17 6.57% $11,656
CARDINAL FINANCIAL 17 6.39% $12,555
MORTGAGE INVESTORS GROUP, INC. 17 6.45% $10,111
LOANDEPOT.COM, LLC 15 6.28% $11,775
PENTAGON FEDERAL CREDIT UNION 14 5.61% $10,574
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 13 6.72% $10,332
Mr. Cooper ( Nationstar Mortgage ) 13 6.13% $12,722
U.S. Bank 12 6.40% $7,400
Regions Bank 12 6.18% $10,441
SeaTrust Mortgage Company 11 6.10% $10,276
FREEDOM MORTGAGE CORPORATION 11 6.98% $13,572
FirstBank 10 6.24% $12,881
VAN DYK MORTGAGE CORPORATION 10 6.24% $6,963
Century Mortgage Company DBA Century Lending Company 9 6.44% $14,737
AMERICAN PACIFIC MORTGAGE CORPORATION 9 6.62% $13,689
THRIVE MORTGAGE, LLC 9 6.47% $11,604
CHURCHILL MORTGAGE CORPORATION 9 6.26% $11,015
Plains Commerce Bank 8 6.52% $11,721
COMMUNITY MORTGAGE CORPORATION 8 5.97% $11,953
ACOPIA, LLC 7 6.46% $12,199
PRIMARY RESIDENTIAL MORTGAGE, INC. 7 6.55% $8,994
Ameris Bank 7 6.16% $9,558
AMERISAVE MORTGAGE CORPORATION 6 6.06% $13,314
CANOPY MORTGAGE, LLC 6 6.27% $18,483
LAKEVIEW LOAN SERVICING, LLC 6 6.00% $13,195
MILEND, INC. 5 6.98% $11,695
T2 FINANCIAL LLC 5 6.58% $11,436
GERSHMAN INVESTMENT CORP. 5 6.90% $9,351
NEWREZ LLC 4 6.34% $7,821
ISERVE RESIDENTIAL LENDING, LLC 4 7.00% $14,511
THE MORTGAGE FIRM, INC. 4 5.47% $12,418
Carrington Mortgage Services, LLC 4 6.22% $10,329
SUN WEST MORTGAGE COMPANY, INC. 4 6.38% $17,529
Citizens Bank 4 5.72% $7,673
RELIANCE FIRST CAPITAL, LLC 4 6.19% $16,338
First Federal Bank 4 6.56% $10,426
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 4 6.22% $18,331
GUARANTY HOME MORTGAGE CORPORATION 4 6.13% $8,608
United Community Bank 4 7.13% $11,527
EUSTIS AND AMERICAN MORTGAGE COMPANY 3 6.38% $9,198
Renasant Bank 3 7.13% $5,714
CapStar Bank 3 6.83% $9,219
VILLAGE CAPITAL MORTGAGE 3 6.50% $8,720
Wells Fargo Bank 3 6.13% $6,524
GARDNER FINANCIAL SERVICES, LTD. 3 7.17% $13,057
MID AMERICA MORTGAGE, INC. 3 6.96% $5,542
MUTUAL OF OMAHA MORTGAGE, INC. 3 6.33% $17,913
TOP FLITE FINANCIAL, INC. 3 7.38% $9,077
NFM, INC. 3 6.79% $6,583
Paramount Residential Mortgage Group, Inc. 3 6.91% $16,733
Legends Bank 3 6.66% $14,945
OCMBC, INC. 3 6.67% $12,675
AMERICAN FINANCIAL NETWORK, INC. 3 7.63% $14,264
FirstTrust Home Loans, Inc. 3 7.08% $7,363
EVERETT FINANCIAL, INC. 3 7.25% $8,938
The Federal Savings Bank 2 6.31% $14,944
ACADEMY MORTGAGE CORPORATION 2 7.38% $9,811
BancorpSouth 2 6.63% $9,806
BAY EQUITY LLC 2 6.25% $9,266
Bell Bank 2 6.75% $12,187
ENDEAVOR CAPITAL, LLC. 2 6.87% $7,532
Equity Prime Mortgage LLC 2 7.13% $13,613
FIRST COLONY MORTGAGE CORPORATION 2 6.50% $7,652
First Federal Bank 2 6.25% $10,855
FLAT BRANCH MORTGAGE, INC. 2 7.69% $8,547
INTERLINC MORTGAGE SERVICES, LLC 2 6.31% $4,815
JPMorgan Chase Bank 2 6.06% $7,490
Legacy Home Loans, LLC 2 6.38% $8,357
LIBERTY HOME MORTGAGE CORPORATION 2 6.81% $12,285
LOANPAL, LLC 2 6.38% $10,697
MOVEMENT MORTGAGE, LLC 2 6.25% $8,279
Nations Lending Corporation 2 6.75% $8,601
PLANET HOME LENDING, LLC 2 6.13% $6,415
Prosperity Home Mortgage, LLC 2 6.44% $11,616
ROYAL UNITED MORTGAGE LLC 2 7.31% $8,582
Simmons Bank 2 6.06% $7,441
Truist 2 6.18% $7,061
UNITED NORTHERN MORTGAGE BANKERS LIMITED 2 5.88% $12,019
M&T Bank 1 6.75% $8,738
INTERNATIONAL CITY MORTGAGE, INC. 1 6.38% $11,456
AMCAP MORTGAGE, LTD. 1 6.49% $12,555
NATIONS RELIABLE LENDING, LLC 1 5.88% $10,181
Independent Bank 1 4.88% $25,823
HOMESTAR FINANCIAL CORPORATION 1 6.25% $8,552
NORTHERN MORTGAGE SERVICES, LLC 1 6.75% $7,882
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.38% $10,039
GUILD MORTGAGE COMPANY 1 6.13% $6,398
Franklin Loan Corporation 1 6.63% $8,179
First Vision Bank of Tennessee 1 6.75% $13,480
PHH Mortgage Corporation 1 7.13% $11,849
Pinnacle Bank 1 6.13% $8,538
First Financial Bank 1 7.13% $15,744
US MORTGAGE CORPORATION 1 6.25% $15,677
PLAZA HOME MORTGAGE, INC. 1 6.13% $7,351
EVANSVILLE TEACHERS 1 6.00% $7,131
ALTRA 1 6.49% $15,687
EMM LOANS LLC 1 5.88% $11,948
RANLIFE, INC. 1 5.74% $16,095
DELMAR FINANCIAL COMPANY 1 6.88% $10,229
DATA MORTGAGE, INC. 1 6.38% $13,933
Cornerstone First Mortgage, Inc 1 6.99% $16,251
ROSS MORTGAGE CORPORATION 1 6.50% $10,571
VERITAS FUNDING, LLC 1 7.25% $12,919
S1L, Inc. 1 7.25% $7,794
COMMUNITY MORTGAGE, LLC 1 7.00% $10,125
SECURITYNATIONAL MORTGAGE COMPANY 1 6.75% $11,439
Alcova Mortgage LLC 1 5.75% $4,540
SOUTHWEST STAGE FUNDING, LLC 1 6.88% $21,673
Colonial Savings, F.A. 1 6.50% $12,223
SUCCESS MORTGAGE PARTNERS, INC. 1 5.88% $11,952
Sunflower Bank 1 6.49% $7,446
CASTLE & COOKE MORTGAGE, LLC 1 6.75% $12,642
CALCON MUTUAL MORTGAGE LLC 1 6.50% $7,932
BAY-VALLEY MORTGAGE GROUP 1 5.75% $17,707
1ST SIGNATURE LENDING, LLC 1 7.75% $16,176
The First National Bank of Middle Tennessee 1 6.75% $12,298
The Huntington National Bank 1 6.63% $15,555
The Loan Store, Inc. 1 5.75% $8,657
Bank of Tennessee 1 5.75% $9,380
Bank of England 1 6.25% $8,012
Bank of America 1 7.75% $1,919
TOTAL MORTGAGE SERVICES, LLC 1 5.25% $10,123
ALAMEDA MORTGAGE CORPORATION 1 6.13% $6,360
AmeriHome Mortgage Company, LLC 1 6.63% $12,516
Wilson Bank And Trust 1 7.13% $5,412
MANN FINANCIAL INC. 1 6.25% $14,958
Magnolia Bank 1 7.75% $7,721
Loan Simple, Inc. 1 6.63% $10,516
LEADERONE FINANCIAL CORPORATION 1 5.50% $10,702
LAND HOME FINANCIAL SERVICES, INC. 1 5.88% $9,003
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $4,944
AMERICAN FINANCING CORPORATION 1 5.75% $15,489
Kwik Mortgage Corporation 1 5.75% $22,309

The top Clarksville FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 98 FHA loans originated. Their average total fees are $10,633, which is $3,041 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Clarksville FHA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,067), SWBC MORTGAGE CORPORATION ($6,519), VAN DYK MORTGAGE CORPORATION ($6,963), U.S. Bank ($7,400) and MORTGAGE INVESTORS GROUP, INC. ($10,111).

The lowest rate Clarksville FHA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION (5.61%), F&M Bank (5.95%), SeaTrust Mortgage Company (6.10%), HIGHLANDS RESIDENTIAL MORTGAGE, LTD. (6.11%) and Mr. Cooper ( Nationstar Mortgage ) (6.13%).

Clarksville FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
CLARKSVILLE, TN-KY CHRISTIAN 2022 $420,680 $538,650 $651,050 $809,150
CLARKSVILLE, TN-KY TRIGG 2022 $420,680 $538,650 $651,050 $809,150
CLARKSVILLE, TN-KY MONTGOMERY 2022 $420,680 $538,650 $651,050 $809,150
CLARKSVILLE, TN-KY STEWART 2022 $420,680 $538,650 $651,050 $809,150
CLARKSVILLE, TN-KY CHRISTIAN 2023 $472,030 $604,400 $730,525 $907,900
CLARKSVILLE, TN-KY TRIGG 2023 $472,030 $604,400 $730,525 $907,900
CLARKSVILLE, TN-KY MONTGOMERY 2023 $472,030 $604,400 $730,525 $907,900
CLARKSVILLE, TN-KY STEWART 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Clarksville (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 $214,650 (24.3%) $231,160 (14.6%) 0.80 1,351
2018-02-01 $218,375 (21.7%) $234,174 (15.4%) 0.79 1,250
2018-03-01 $216,000 (15.1%) $236,801 (14.6%) 0.76 1,260
2018-04-01 $219,425 (15.6%) $240,047 (14.7%) 0.74 1,290
2018-05-01 $221,063 (12.5%) $240,444 (9.2%) 0.74 1,333
2018-06-01 $216,995 (11.9%) $241,450 (10.2%) 0.72 1,428
2018-07-01 $216,963 (9.1%) $242,157 (8.4%) 0.72 1,485
2018-08-01 $219,700 (9.9%) $243,933 (7.2%) 0.74 1,519
2018-09-01 $221,950 (11.4%) $243,972 (6.3%) 0.75 1,502
2018-10-01 $223,450 (12.3%) $244,075 (6.5%) 0.76 1,496
2018-11-01 $227,750 (13.5%) $247,037 (8.5%) 0.77 1,464
2018-12-01 $230,000 (10.3%) $250,930 (9.7%) 0.79 1,403
2019-01-01 $230,450 (7.4%) $252,376 (9.2%) 0.80 1,315
2019-02-01 $238,700 (9.3%) $258,167 (10.3%) 0.81 1,280
2019-03-01 $245,114 (13.5%) $266,157 (12.4%) 0.80 1,183
2019-04-01 $251,139 (14.5%) $271,578 (13.1%) 0.80 1,136
2019-05-01 $252,895 (14.4%) $269,777 (12.2%) 0.79 1,186
2019-06-01 $252,467 (16.4%) $266,125 (10.2%) 0.79 1,238
2019-07-01 $253,410 (16.8%) $267,760 (10.6%) 0.79 1,250
2019-08-01 $251,541 (14.5%) $265,678 (8.9%) 0.80 1,256
2019-09-01 $250,674 (12.9%) $264,151 (8.3%) 0.80 1,250
2019-10-01 $250,096 (11.9%) $263,355 (7.9%) 0.81 1,241
2019-11-01 $249,900 (9.7%) $262,572 (6.3%) 0.82 1,203
2019-12-01 $249,900 (8.7%) $261,891 (4.4%) 0.83 1,157
2020-01-01 $249,900 (8.4%) $263,158 (4.3%) 0.84 1,110
2020-02-01 $249,900 (4.7%) $267,537 (3.6%) 0.82 1,025
2020-03-01 $251,125 (2.5%) $274,693 (3.2%) 0.79 985
2020-04-01 $254,185 (1.2%) $277,297 (2.1%) 0.80 1,039
2020-05-01 $260,900 (3.2%) $289,090 (7.2%) 0.79 933
2020-06-01 $265,350 (5.1%) $294,112 (10.5%) 0.78 802
2020-07-01 $262,925 (3.8%) $292,442 (9.2%) 0.76 803
2020-08-01 $259,900 (3.3%) $288,216 (8.5%) 0.74 678
2020-09-01 $270,500 (7.9%) $292,941 (10.9%) 0.78 681
2020-10-01 $285,000 (14.0%) $301,826 (14.6%) 0.82 629
2020-11-01 $277,450 (11.0%) $302,863 (15.3%) 0.81 585
2020-12-01 $282,200 (12.9%) $303,865 (16.0%) 0.84 559
2021-01-01 $280,650 (12.3%) $304,300 (15.6%) 0.84 514
2021-02-01 $289,800 (16.0%) $315,322 (17.9%) 0.84 463
2021-03-01 $312,800 (24.6%) $331,260 (20.6%) 0.89 365
2021-04-01 $316,950 (24.7%) $342,040 (23.4%) 0.86 326
2021-05-01 $295,000 (13.1%) $341,786 (18.2%) 0.78 287
2021-06-01 $288,675 (8.8%) $326,996 (11.2%) 0.76 409
2021-07-01 $287,900 (9.5%) $332,150 (13.6%) 0.76 484
2021-08-01 $303,775 (16.9%) $338,945 (17.6%) 0.81 569
2021-09-01 $318,000 (17.6%) $346,762 (18.4%) 0.85 606
2021-10-01 $324,450 (13.8%) $349,958 (16.0%) 0.87 665
2021-11-01 $331,500 (19.5%) $359,555 (18.7%) 0.89 624
2021-12-01 $325,000 (15.2%) $361,712 (19.0%) 0.88 598
2022-01-01 $337,400 (20.2%) $380,527 (25.1%) 0.91 483
2022-02-01 $348,100 (20.1%) $388,166 (23.1%) 0.91 405
2022-03-01 $339,700 (8.6%) $395,600 (19.4%) 0.85 373
2022-04-01 $335,000 (5.7%) $395,970 (15.8%) 0.80 399
2022-05-01 $347,450 (17.8%) $396,911 (16.1%) 0.79 526
2022-06-01 $351,950 (21.9%) $391,844 (19.8%) 0.78 712
2022-07-01 $359,900 (25.0%) $398,597 (20.0%) 0.81 882
2022-08-01 $365,000 (20.2%) $398,556 (17.6%) 0.84 1,087
2022-09-01 $357,500 (12.4%) $395,325 (14.0%) 0.84 1,175
2022-10-01 $359,900 (10.9%) $393,201 (12.4%) 0.85 1,221
2022-11-01 $354,675 (7.0%) $391,895 (9.0%) 0.85 1,276
2022-12-01 $351,900 (8.3%) $386,758 (6.9%) 0.87 1,253
2023-01-01 $352,975 (4.6%) $392,990 (3.3%) 0.87 1,223
2023-02-01 $363,900 (4.5%) $405,037 (4.4%) 0.88 1,092
2023-03-01 $366,950 (8.0%) $409,099 (3.4%) 0.87 960
2023-04-01 $360,000 (7.5%) $405,461 (2.4%) 0.84 906
2023-05-01 $362,925 (4.5%) $403,846 (1.8%) 0.82 935
2023-06-01 $362,825 (3.1%) $407,174 (3.9%) 0.82 950
2023-07-01 $360,000 (0.0%) $408,367 (2.5%) 0.82 1,066
2023-08-01 $356,000 (-2.5%) $404,690 (1.5%) 0.82 1,162
2023-09-01 $348,400 (-2.6%) $390,620 (-1.2%) 0.81 1,198
2023-10-01 $339,575 (-5.7%) $381,874 (-2.9%) 0.80 1,279
2023-11-01 $337,250 (-4.9%) $383,746 (-2.1%) 0.80 1,335
2023-12-01 $330,000 (-6.2%) $381,215 (-1.4%) 0.80 1,283
2024-01-01 $324,900 (-8.0%) $377,736 (-3.9%) 0.79 1,136
2024-02-01 $318,975 (-12.4%) $375,918 (-7.2%) 0.77 1,124
2024-03-01 $325,000 (-11.4%) $377,623 (-7.7%) 0.76 1,174
2024-04-01 $330,000 (-8.3%) $381,222 (-6.0%) 0.77 1,257
Clarksville's median listing price for 2024-04-01 was $330,000, a difference of $-30,000 (-8.3%) versus the prior year and $5,000 versus the prior month.

Clarksville's median listing price comes in at 77% of the national average.

Clarksville's average listing price for 2024-04-01 was $381,222, a difference of $-24,239 (-6.0%) versus the prior year and $3,599 versus the prior month.

For the 2024-04-01 period, Clarksville had 1,257 MLS listings, a difference of 83 listings (7%) versus the prior month and 351 listings (39%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Clarksville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 69 days 2,073 sqft
2018-02-01 69 days 2,099 sqft
2018-03-01 46 days 2,080 sqft
2018-04-01 44 days 2,093 sqft
2018-05-01 44 days 2,117 sqft
2018-06-01 47 days 2,098 sqft
2018-07-01 52 days 2,076 sqft
2018-08-01 51 days 2,084 sqft
2018-09-01 53 days 2,110 sqft
2018-10-01 59 days 2,112 sqft
2018-11-01 62 days 2,125 sqft
2018-12-01 71 days 2,150 sqft
2019-01-01 81 days 2,163 sqft
2019-02-01 69 days 2,200 sqft
2019-03-01 56 days 2,241 sqft
2019-04-01 47 days 2,279 sqft
2019-05-01 44 days 2,248 sqft
2019-06-01 41 days 2,238 sqft
2019-07-01 45 days 2,237 sqft
2019-08-01 47 days 2,205 sqft
2019-09-01 49 days 2,174 sqft
2019-10-01 50 days 2,151 sqft
2019-11-01 59 days 2,144 sqft
2019-12-01 66 days 2,139 sqft
2020-01-01 66 days 2,100 sqft
2020-02-01 52 days 2,123 sqft
2020-03-01 38 days 2,134 sqft
2020-04-01 41 days 2,151 sqft
2020-05-01 51 days 2,162 sqft
2020-06-01 51 days 2,166 sqft
2020-07-01 38 days 2,128 sqft
2020-08-01 33 days 2,121 sqft
2020-09-01 30 days 2,175 sqft
2020-10-01 32 days 2,200 sqft
2020-11-01 41 days 2,188 sqft
2020-12-01 36 days 2,188 sqft
2021-01-01 31 days 2,179 sqft
2021-02-01 25 days 2,196 sqft
2021-03-01 24 days 2,248 sqft
2021-04-01 18 days 2,230 sqft
2021-05-01 10 days 2,157 sqft
2021-06-01 11 days 2,044 sqft
2021-07-01 19 days 2,050 sqft
2021-08-01 18 days 2,089 sqft
2021-09-01 24 days 2,091 sqft
2021-10-01 26 days 2,092 sqft
2021-11-01 32 days 2,110 sqft
2021-12-01 40 days 2,076 sqft
2022-01-01 44 days 2,111 sqft
2022-02-01 21 days 2,100 sqft
2022-03-01 16 days 2,062 sqft
2022-04-01 12 days 2,033 sqft
2022-05-01 15 days 2,049 sqft
2022-06-01 20 days 2,044 sqft
2022-07-01 23 days 2,067 sqft
2022-08-01 32 days 2,089 sqft
2022-09-01 40 days 2,072 sqft
2022-10-01 50 days 2,065 sqft
2022-11-01 50 days 2,059 sqft
2022-12-01 54 days 2,050 sqft
2023-01-01 63 days 2,050 sqft
2023-02-01 58 days 2,067 sqft
2023-03-01 48 days 2,067 sqft
2023-04-01 39 days 2,050 sqft
2023-05-01 37 days 2,048 sqft
2023-06-01 37 days 2,051 sqft
2023-07-01 36 days 2,031 sqft
2023-08-01 42 days 2,000 sqft
2023-09-01 46 days 1,937 sqft
2023-10-01 44 days 1,910 sqft
2023-11-01 47 days 1,900 sqft
2023-12-01 55 days 1,840 sqft
2024-01-01 65 days 1,807 sqft
2024-02-01 47 days 1,722 sqft
2024-03-01 40 days 1,751 sqft
2024-04-01 36 days 1,807 sqft
Clarksville's median listing age (time on market) for 2024-04-01 was 36 days. This is -9% shorter than the same period one year ago.

Clarksville's median square footage for active listings during the 2024-04-01 period was 1,807 sqft. One year prior, the average listing was 2,050 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).