Cookeville FHA Loan Rates, Closing Costs & Stats
Cookeville, TN
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.
Cookeville's 73 lenders originated 286 FHA loans during 2023. The total origination value was $70,220,000, with an average FHA loan value of $245,524.
Cookeville FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Cookeville
averaged
6.14%
for the week of 2024-12-13, compared to the national average (all FHA variants) of
6.277% for the same period.
Cookeville's average FHA mortgage closing costs are $7,703.
The average rate for the prior week (2024-12-06) was
6.11% and
one month ago for the week of 2024-11-08, the
average rate was 6.27%.
The average rate one year ago was 6.68%.
For refis of the same type during the week of 2024-12-13, the average rate
was 6.06%.
Cookeville 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 Cookeville level.
The top Cookeville FHA lender as defined by loan originations is AMCAP MORTGAGE, LTD., with
28 FHA loans originated. Their average total fees are
$11,802, which is $1,344
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Cookeville FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC ($10,458), MORTGAGE INVESTORS GROUP, INC. ($10,564), UNION HOME MORTGAGE CORP. ($11,019), UNITED WHOLESALE MORTGAGE, LLC ($11,786) and AMCAP MORTGAGE, LTD. ($11,802).
The lowest rate Cookeville FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (6.08%), UNITED WHOLESALE MORTGAGE, LLC (6.14%), MORTGAGE INVESTORS GROUP, INC. (6.20%), AMCAP MORTGAGE, LTD. (6.61%) and UNION HOME MORTGAGE CORP. (6.81%).
Cookeville FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
COOKEVILLE, TN | JACKSON | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
COOKEVILLE, TN | OVERTON | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
COOKEVILLE, TN | PUTNAM | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
COOKEVILLE, TN | JACKSON | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
COOKEVILLE, TN | OVERTON | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
COOKEVILLE, TN | PUTNAM | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Cookeville (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $204,475 (2.5%) | $255,841 (0.9%) | 0.00 | 410 |
2018-02-01 | $209,225 (7.3%) | $254,906 (0.0%) | 0.00 | 411 |
2018-03-01 | $210,000 (0.3%) | $261,296 (-2.6%) | 0.00 | 387 |
2018-04-01 | $217,000 (3.4%) | $272,646 (-1.6%) | 0.00 | 390 |
2018-05-01 | $223,650 (1.7%) | $276,473 (-0.8%) | 0.00 | 420 |
2018-06-01 | $225,000 (3.7%) | $283,044 (2.3%) | 0.00 | 422 |
2018-07-01 | $229,900 (7.0%) | $281,352 (1.9%) | 0.00 | 438 |
2018-08-01 | $231,950 (10.7%) | $283,286 (1.2%) | 0.00 | 437 |
2018-09-01 | $239,000 (11.2%) | $289,873 (5.0%) | 0.00 | 447 |
2018-10-01 | $239,929 (8.6%) | $281,723 (5.1%) | 0.00 | 463 |
2018-11-01 | $239,000 (12.5%) | $274,399 (4.2%) | 0.00 | 459 |
2018-12-01 | $239,000 (13.9%) | $271,709 (4.9%) | 0.00 | 448 |
2019-01-01 | $238,250 (16.5%) | $275,308 (7.6%) | 0.00 | 418 |
2019-02-01 | $241,200 (15.3%) | $280,443 (10.0%) | 0.00 | 387 |
2019-03-01 | $239,900 (14.2%) | $289,264 (10.7%) | 0.00 | 386 |
2019-04-01 | $239,900 (10.6%) | $295,868 (8.5%) | 0.00 | 390 |
2019-05-01 | $244,929 (9.5%) | $308,310 (11.5%) | 0.00 | 394 |
2019-06-01 | $239,900 (6.6%) | $302,206 (6.8%) | 0.00 | 411 |
2019-07-01 | $234,957 (2.2%) | $292,748 (4.1%) | 0.00 | 441 |
2019-08-01 | $236,227 (1.8%) | $296,906 (4.8%) | 0.00 | 443 |
2019-09-01 | $238,068 (-0.4%) | $302,373 (4.3%) | 0.00 | 448 |
2019-10-01 | $239,295 (-0.3%) | $306,018 (8.6%) | 0.00 | 453 |
2019-11-01 | $240,000 (0.4%) | $309,226 (12.7%) | 0.00 | 450 |
2019-12-01 | $241,950 (1.2%) | $306,321 (12.7%) | 0.00 | 445 |
2020-01-01 | $249,950 (4.9%) | $309,789 (12.5%) | 0.00 | 369 |
2020-02-01 | $259,900 (7.8%) | $316,109 (12.7%) | 0.00 | 346 |
2020-03-01 | $259,900 (8.3%) | $319,432 (10.4%) | 0.00 | 339 |
2020-04-01 | $261,179 (8.9%) | $319,893 (8.1%) | 0.00 | 326 |
2020-05-01 | $262,450 (7.2%) | $327,780 (6.3%) | 0.00 | 300 |
2020-06-01 | $274,925 (14.6%) | $345,550 (14.3%) | 0.00 | 269 |
2020-07-01 | $276,350 (17.6%) | $355,739 (21.5%) | 0.00 | 254 |
2020-08-01 | $279,900 (18.5%) | $360,175 (21.3%) | 0.00 | 241 |
2020-09-01 | $284,900 (19.7%) | $369,228 (22.1%) | 0.00 | 225 |
2020-10-01 | $287,450 (20.1%) | $374,071 (22.2%) | 0.00 | 222 |
2020-11-01 | $284,850 (18.7%) | $364,656 (17.9%) | 0.00 | 228 |
2020-12-01 | $274,900 (13.6%) | $369,416 (20.6%) | 0.00 | 197 |
2021-01-01 | $279,900 (12.0%) | $372,299 (20.2%) | 0.00 | 188 |
2021-02-01 | $297,425 (14.4%) | $394,372 (24.8%) | 0.00 | 148 |
2021-03-01 | $287,450 (10.6%) | $394,745 (23.6%) | 0.00 | 138 |
2021-04-01 | $317,450 (21.5%) | $423,587 (32.4%) | 0.00 | 131 |
2021-05-01 | $317,500 (21.0%) | $439,253 (34.0%) | 0.00 | 146 |
2021-06-01 | $309,900 (12.7%) | $430,738 (24.7%) | 0.00 | 162 |
2021-07-01 | $329,900 (19.4%) | $452,347 (27.2%) | 0.00 | 195 |
2021-08-01 | $362,000 (29.3%) | $465,788 (29.3%) | 0.00 | 242 |
2021-09-01 | $382,400 (34.2%) | $486,514 (31.8%) | 0.00 | 229 |
2021-10-01 | $356,950 (24.2%) | $504,172 (34.8%) | 0.00 | 234 |
2021-11-01 | $372,400 (30.7%) | $520,194 (42.7%) | 0.00 | 215 |
2021-12-01 | $362,482 (31.9%) | $512,019 (38.6%) | 0.00 | 201 |
2022-01-01 | $369,900 (32.2%) | $530,554 (42.5%) | 0.00 | 181 |
2022-02-01 | $390,800 (31.4%) | $530,078 (34.4%) | 0.00 | 153 |
2022-03-01 | $354,900 (23.5%) | $495,499 (25.5%) | 0.00 | 171 |
2022-04-01 | $367,458 (15.8%) | $490,211 (15.7%) | 0.00 | 188 |
2022-05-01 | $382,200 (20.4%) | $507,125 (15.5%) | 0.00 | 205 |
2022-06-01 | $398,000 (28.4%) | $511,988 (18.9%) | 0.00 | 239 |
2022-07-01 | $399,000 (21.0%) | $503,110 (11.2%) | 0.00 | 294 |
2022-08-01 | $399,475 (10.4%) | $503,098 (8.0%) | 0.00 | 306 |
2022-09-01 | $383,450 (0.3%) | $488,929 (0.5%) | 0.00 | 320 |
2022-10-01 | $395,000 (10.7%) | $497,691 (-1.3%) | 0.00 | 346 |
2022-11-01 | $373,000 (0.2%) | $492,718 (-5.3%) | 0.00 | 371 |
2022-12-01 | $369,000 (1.8%) | $468,467 (-8.5%) | 0.00 | 357 |
2023-01-01 | $359,950 (-2.7%) | $467,213 (-11.9%) | 0.00 | 344 |
2023-02-01 | $369,900 (-5.4%) | $474,283 (-10.5%) | 0.00 | 330 |
2023-03-01 | $359,925 (1.4%) | $472,975 (-4.6%) | 0.00 | 306 |
2023-04-01 | $362,450 (-1.4%) | $476,715 (-2.8%) | 0.00 | 293 |
2023-05-01 | $392,600 (2.7%) | $498,712 (-1.7%) | 0.00 | 299 |
2023-06-01 | $404,166 (1.6%) | $499,022 (-2.5%) | 0.00 | 303 |
2023-07-01 | $397,000 (-0.5%) | $492,752 (-2.1%) | 0.00 | 301 |
2023-08-01 | $404,916 (1.4%) | $515,845 (2.5%) | 0.00 | 322 |
2023-09-01 | $405,000 (5.6%) | $525,788 (7.5%) | 0.00 | 335 |
2023-10-01 | $399,500 (1.1%) | $501,136 (0.7%) | 0.00 | 354 |
2023-11-01 | $395,000 (5.9%) | $489,366 (-0.7%) | 0.00 | 390 |
2023-12-01 | $395,000 (7.1%) | $480,283 (2.5%) | 0.00 | 373 |
2024-01-01 | $379,982 (5.6%) | $469,461 (0.5%) | 0.00 | 348 |
2024-02-01 | $379,907 (2.7%) | $460,889 (-2.8%) | 0.00 | 332 |
2024-03-01 | $379,000 (5.3%) | $461,455 (-2.4%) | 0.00 | 348 |
2024-04-01 | $379,900 (4.8%) | $463,450 (-2.8%) | 0.00 | 347 |
2024-05-01 | $388,682 (-1.0%) | $473,820 (-5.0%) | 0.00 | 342 |
2024-06-01 | $383,900 (-5.0%) | $466,536 (-6.5%) | 0.00 | 363 |
2024-07-01 | $387,450 (-2.4%) | $466,185 (-5.4%) | 0.00 | 412 |
2024-08-01 | $384,200 (-5.1%) | $464,665 (-9.9%) | 0.00 | 443 |
2024-09-01 | $377,450 (-6.8%) | $450,667 (-14.3%) | 0.00 | 490 |
2024-10-01 | $371,175 (-7.1%) | $453,310 (-9.5%) | 0.00 | 475 |
2024-11-01 | $369,325 (-6.5%) | $447,837 (-8.5%) | 0.00 | 490 |
Cookeville's median listing price comes in at 0% of the national average.
Cookeville's average listing price for 2024-11-01 was $447,837, a difference of $-41,529 (-8.5%) versus the prior year and $-5,473 versus the prior month.
For the 2024-11-01 period, Cookeville had 490 MLS listings, a difference of 15 listings (3%) versus the prior month and 100 listings (26%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Cookeville (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,821 sqft |
2018-02-01 | 0 days | 1,847 sqft |
2018-03-01 | 0 days | 1,899 sqft |
2018-04-01 | 0 days | 1,985 sqft |
2018-05-01 | 0 days | 1,985 sqft |
2018-06-01 | 0 days | 1,980 sqft |
2018-07-01 | 0 days | 2,016 sqft |
2018-08-01 | 0 days | 2,022 sqft |
2018-09-01 | 0 days | 2,046 sqft |
2018-10-01 | 0 days | 2,038 sqft |
2018-11-01 | 0 days | 2,005 sqft |
2018-12-01 | 0 days | 2,004 sqft |
2019-01-01 | 0 days | 1,976 sqft |
2019-02-01 | 0 days | 1,959 sqft |
2019-03-01 | 0 days | 1,974 sqft |
2019-04-01 | 0 days | 2,005 sqft |
2019-05-01 | 0 days | 2,073 sqft |
2019-06-01 | 0 days | 2,000 sqft |
2019-07-01 | 0 days | 1,946 sqft |
2019-08-01 | 0 days | 1,966 sqft |
2019-09-01 | 0 days | 1,972 sqft |
2019-10-01 | 0 days | 1,976 sqft |
2019-11-01 | 0 days | 1,976 sqft |
2019-12-01 | 0 days | 1,954 sqft |
2020-01-01 | 0 days | 1,985 sqft |
2020-02-01 | 0 days | 2,000 sqft |
2020-03-01 | 0 days | 1,995 sqft |
2020-04-01 | 0 days | 1,983 sqft |
2020-05-01 | 0 days | 2,000 sqft |
2020-06-01 | 0 days | 2,010 sqft |
2020-07-01 | 0 days | 2,161 sqft |
2020-08-01 | 0 days | 2,028 sqft |
2020-09-01 | 0 days | 1,969 sqft |
2020-10-01 | 0 days | 1,966 sqft |
2020-11-01 | 0 days | 1,891 sqft |
2020-12-01 | 0 days | 1,910 sqft |
2021-01-01 | 0 days | 1,912 sqft |
2021-02-01 | 0 days | 2,023 sqft |
2021-03-01 | 0 days | 1,985 sqft |
2021-04-01 | 0 days | 2,076 sqft |
2021-05-01 | 0 days | 2,061 sqft |
2021-06-01 | 0 days | 1,970 sqft |
2021-07-01 | 0 days | 2,050 sqft |
2021-08-01 | 0 days | 2,172 sqft |
2021-09-01 | 0 days | 2,289 sqft |
2021-10-01 | 0 days | 2,352 sqft |
2021-11-01 | 0 days | 2,381 sqft |
2021-12-01 | 0 days | 2,317 sqft |
2022-01-01 | 0 days | 2,305 sqft |
2022-02-01 | 0 days | 2,193 sqft |
2022-03-01 | 0 days | 2,004 sqft |
2022-04-01 | 0 days | 2,059 sqft |
2022-05-01 | 0 days | 2,049 sqft |
2022-06-01 | 0 days | 2,063 sqft |
2022-07-01 | 0 days | 2,044 sqft |
2022-08-01 | 0 days | 2,077 sqft |
2022-09-01 | 0 days | 1,968 sqft |
2022-10-01 | 0 days | 2,004 sqft |
2022-11-01 | 0 days | 1,922 sqft |
2022-12-01 | 0 days | 1,872 sqft |
2023-01-01 | 0 days | 1,869 sqft |
2023-02-01 | 0 days | 1,858 sqft |
2023-03-01 | 0 days | 1,804 sqft |
2023-04-01 | 0 days | 1,837 sqft |
2023-05-01 | 0 days | 1,885 sqft |
2023-06-01 | 0 days | 2,000 sqft |
2023-07-01 | 0 days | 1,932 sqft |
2023-08-01 | 0 days | 1,952 sqft |
2023-09-01 | 0 days | 1,989 sqft |
2023-10-01 | 0 days | 1,993 sqft |
2023-11-01 | 0 days | 1,926 sqft |
2023-12-01 | 0 days | 1,942 sqft |
2024-01-01 | 0 days | 1,844 sqft |
2024-02-01 | 0 days | 1,811 sqft |
2024-03-01 | 0 days | 1,797 sqft |
2024-04-01 | 0 days | 1,822 sqft |
2024-05-01 | 0 days | 1,875 sqft |
2024-06-01 | 0 days | 1,866 sqft |
2024-07-01 | 0 days | 1,834 sqft |
2024-08-01 | 0 days | 1,812 sqft |
2024-09-01 | 0 days | 1,813 sqft |
2024-10-01 | 0 days | 1,798 sqft |
2024-11-01 | 0 days | 1,752 sqft |
Cookeville's median square footage for active listings during the 2024-11-01 period was 1,752 sqft. One year prior, the average listing was 1,926 sqft.