Crossville FHA Loan Rates, Closing Costs & Stats

Crossville, 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.

Crossville's 43 lenders originated 180 FHA loans during 2023. The total origination value was $37,800,000, with an average FHA loan value of $210,000.

Crossville FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Crossville averaged 0.12% for the week of 2024-11-29, compared to the national average (all FHA variants) of 0% for the same period.

Crossville's average FHA mortgage closing costs are $7,166.

The average rate for the prior week (2024-11-22) was 6.41% and one month ago for the week of 2024-10-25, the average rate was 6.29%.

The average rate one year ago was 6.98%.

For refis of the same type during the week of 2024-11-29, the average rate was -0.2%.

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

Crossville 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 Crossville level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 25 6.16% $9,827
Flagstar Bank, FSB 13 6.17% $8,196
CMG MORTGAGE, INC. 12 6.75% $11,760
VAN DYK MORTGAGE CORPORATION 12 6.99% $8,611
MORTGAGE INVESTORS GROUP, INC. 12 6.56% $10,007
UNITED WHOLESALE MORTGAGE, LLC 8 6.21% $12,339
Shamrock Home Loans, Inc. 6 6.27% $11,489
Equity Prime Mortgage LLC 5 6.55% $14,570
FREEDOM MORTGAGE CORPORATION 5 6.75% $10,928
GUILD MORTGAGE COMPANY 3 7.08% $6,856
AMERISAVE MORTGAGE CORPORATION 3 5.58% $18,444
BROKER SOLUTIONS, INC. 3 6.71% $9,641
LOANDEPOT.COM, LLC 3 6.16% $11,299
NEWREZ LLC 3 6.67% $9,161
PENNYMAC LOAN SERVICES, LLC 3 6.25% $12,213
STOCKTON MORTGAGE CORPORATION 3 6.63% $11,610
CARDINAL FINANCIAL 2 6.13% $11,847
AMCAP MORTGAGE, LTD. 2 6.81% $9,215
AmeriHome Mortgage Company, LLC 2 5.94% $14,544
AMERICAN FINANCIAL NETWORK, INC. 2 5.75% $10,557
The First National Bank of Middle Tennessee 2 7.00% $8,157
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.81% $9,320
Regions Bank 2 7.25% $9,014
CROSSCOUNTRY MORTGAGE, LLC 2 7.50% $8,691
MORIA DEVELOPMENT, INC. 1 7.13% $6,495
Mr. Cooper ( Nationstar Mortgage ) 1 6.13% $15,854
Nations Lending Corporation 1 7.50% $3,601
TOP FLITE FINANCIAL, INC. 1 6.25% $10,509
AMERICAN FINANCING CORPORATION 1 5.50% $11,381
PLANET HOME LENDING, LLC 1 5.50% $7,372
RELIANCE FIRST CAPITAL, LLC 1 5.50% $18,039
Renasant Bank 1 7.00% $7,228
EMBRACE HOME LOANS, INC. 1 6.63% $6,522
CUSTOMER SERVICE MORTGAGE CORPORATION 1 7.00% $6,180
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.88% $7,072
First Federal Bank 1 5.88% $11,692
Franklin Loan Corporation 1 6.75% $14,664
CHURCHILL MORTGAGE CORPORATION 1 6.75% $10,532
Gateway First Bank 1 7.75% $6,943
GUARANTY MORTGAGE SERVICES, L.L.C. 1 6.75% $10,050
HOMESTAR FINANCIAL CORPORATION 1 7.25% $9,575
LADERA LENDING, INC. 1 6.13% $11,283
LOANPAL, LLC 1 6.50% $6,392

The top Crossville FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 25 FHA loans originated. Their average total fees are $9,827, which is $1,631 higher than the next largest lender, Flagstar Bank, FSB.

The lowest fee Crossville FHA lenders (with over 10 loans originated) are Flagstar Bank, FSB ($8,196), VAN DYK MORTGAGE CORPORATION ($8,611), QUICKEN LOANS, LLC ($9,827), MORTGAGE INVESTORS GROUP, INC. ($10,007) and CMG MORTGAGE, INC. ($11,760).

The lowest rate Crossville FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.16%), Flagstar Bank, FSB (6.17%), MORTGAGE INVESTORS GROUP, INC. (6.56%), CMG MORTGAGE, INC. (6.75%) and VAN DYK MORTGAGE CORPORATION (6.99%).

Crossville FHA Loan Limits

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

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Crossville (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 $189,600 (5.7%) $234,784 (10.2%) 0.00 405
2018-02-01 $196,775 (6.9%) $237,779 (9.4%) 0.00 386
2018-03-01 $199,900 (9.9%) $244,631 (13.2%) 0.00 395
2018-04-01 $209,450 (19.1%) $249,644 (16.2%) 0.00 410
2018-05-01 $222,400 (24.2%) $261,934 (19.1%) 0.00 417
2018-06-01 $219,900 (22.2%) $259,689 (15.2%) 0.00 449
2018-07-01 $216,975 (17.4%) $258,892 (13.1%) 0.00 467
2018-08-01 $212,400 (10.6%) $258,258 (10.6%) 0.00 446
2018-09-01 $214,900 (8.8%) $259,849 (9.7%) 0.00 463
2018-10-01 $213,975 (8.3%) $258,097 (7.0%) 0.00 473
2018-11-01 $210,950 (6.0%) $253,196 (4.4%) 0.00 450
2018-12-01 $213,950 (12.7%) $255,516 (9.6%) 0.00 416
2019-01-01 $218,000 (15.0%) $261,796 (11.5%) 0.00 391
2019-02-01 $204,825 (4.1%) $256,291 (7.8%) 0.00 405
2019-03-01 $212,114 (6.1%) $255,894 (4.6%) 0.00 411
2019-04-01 $224,889 (7.4%) $260,110 (4.2%) 0.00 426
2019-05-01 $219,950 (-1.1%) $259,071 (-1.1%) 0.00 420
2019-06-01 $229,900 (4.6%) $266,623 (2.7%) 0.00 428
2019-07-01 $240,950 (11.1%) $278,746 (7.7%) 0.00 441
2019-08-01 $240,664 (13.3%) $280,841 (8.7%) 0.00 425
2019-09-01 $234,609 (9.2%) $281,593 (8.4%) 0.00 416
2019-10-01 $235,573 (10.1%) $284,705 (10.3%) 0.00 410
2019-11-01 $245,833 (16.5%) $291,833 (15.3%) 0.00 394
2019-12-01 $240,500 (12.4%) $289,775 (13.4%) 0.00 374
2020-01-01 $239,900 (10.1%) $288,983 (10.4%) 0.00 336
2020-02-01 $239,900 (17.1%) $285,299 (11.3%) 0.00 340
2020-03-01 $238,700 (12.5%) $284,106 (11.0%) 0.00 339
2020-04-01 $239,900 (6.7%) $284,602 (9.4%) 0.00 325
2020-05-01 $253,700 (15.3%) $291,357 (12.5%) 0.00 311
2020-06-01 $251,900 (9.6%) $290,302 (8.9%) 0.00 297
2020-07-01 $259,900 (7.9%) $298,106 (7.0%) 0.00 273
2020-08-01 $250,000 (3.9%) $296,027 (5.4%) 0.00 235
2020-09-01 $262,450 (11.9%) $304,052 (8.0%) 0.00 220
2020-10-01 $249,000 (5.7%) $290,823 (2.2%) 0.00 196
2020-11-01 $256,375 (4.3%) $289,320 (-0.9%) 0.00 192
2020-12-01 $264,450 (10.0%) $291,130 (0.5%) 0.00 176
2021-01-01 $249,900 (4.2%) $286,476 (-0.9%) 0.00 137
2021-02-01 $221,200 (-7.8%) $269,958 (-5.4%) 0.00 122
2021-03-01 $232,450 (-2.6%) $282,150 (-0.7%) 0.00 117
2021-04-01 $275,957 (15.0%) $310,182 (9.0%) 0.00 139
2021-05-01 $277,000 (9.2%) $321,046 (10.2%) 0.00 153
2021-06-01 $285,000 (13.1%) $348,460 (20.0%) 0.00 163
2021-07-01 $299,997 (15.4%) $366,566 (23.0%) 0.00 187
2021-08-01 $299,925 (20.0%) $358,168 (21.0%) 0.00 221
2021-09-01 $287,625 (9.6%) $351,474 (15.6%) 0.00 231
2021-10-01 $279,000 (12.1%) $346,254 (19.1%) 0.00 223
2021-11-01 $291,950 (13.9%) $366,650 (26.7%) 0.00 196
2021-12-01 $307,225 (16.2%) $383,947 (31.9%) 0.00 183
2022-01-01 $299,900 (20.0%) $375,972 (31.2%) 0.00 159
2022-02-01 $299,900 (35.6%) $376,749 (39.6%) 0.00 138
2022-03-01 $308,450 (32.7%) $394,346 (39.8%) 0.00 131
2022-04-01 $327,000 (18.5%) $426,216 (37.4%) 0.00 144
2022-05-01 $345,625 (24.8%) $433,705 (35.1%) 0.00 174
2022-06-01 $343,100 (20.4%) $436,010 (25.1%) 0.00 195
2022-07-01 $350,000 (16.7%) $453,919 (23.8%) 0.00 237
2022-08-01 $352,200 (17.4%) $441,216 (23.2%) 0.00 251
2022-09-01 $347,607 (20.9%) $430,113 (22.4%) 0.00 250
2022-10-01 $349,900 (25.4%) $431,446 (24.6%) 0.00 259
2022-11-01 $350,000 (19.9%) $430,563 (17.4%) 0.00 253
2022-12-01 $349,900 (13.9%) $439,429 (14.5%) 0.00 265
2023-01-01 $349,500 (16.5%) $438,464 (16.6%) 0.00 251
2023-02-01 $338,250 (12.8%) $422,474 (12.1%) 0.00 249
2023-03-01 $342,450 (11.0%) $412,790 (4.7%) 0.00 238
2023-04-01 $349,000 (6.7%) $419,166 (-1.7%) 0.00 239
2023-05-01 $345,975 (0.1%) $433,467 (-0.1%) 0.00 254
2023-06-01 $349,975 (2.0%) $438,431 (0.6%) 0.00 261
2023-07-01 $377,450 (7.8%) $456,938 (0.7%) 0.00 252
2023-08-01 $373,425 (6.0%) $456,962 (3.6%) 0.00 266
2023-09-01 $375,000 (7.9%) $458,136 (6.5%) 0.00 261
2023-10-01 $374,900 (7.1%) $453,956 (5.2%) 0.00 273
2023-11-01 $372,075 (6.3%) $439,843 (2.2%) 0.00 280
2023-12-01 $367,000 (4.9%) $439,327 (0.0%) 0.00 275
2024-01-01 $369,200 (5.6%) $438,302 (0.0%) 0.00 266
2024-02-01 $367,725 (8.7%) $427,699 (1.2%) 0.00 271
2024-03-01 $374,900 (9.5%) $430,738 (4.4%) 0.00 298
2024-04-01 $374,450 (7.3%) $429,259 (2.4%) 0.00 320
2024-05-01 $378,000 (9.3%) $429,334 (-1.0%) 0.00 367
2024-06-01 $379,000 (8.3%) $435,233 (-0.7%) 0.00 382
2024-07-01 $384,750 (1.9%) $435,851 (-4.6%) 0.00 398
2024-08-01 $379,900 (1.7%) $441,058 (-3.5%) 0.00 413
2024-09-01 $379,000 (1.1%) $445,155 (-2.8%) 0.00 425
2024-10-01 $383,450 (2.3%) $454,389 (0.1%) 0.00 457
Crossville's median listing price for 2024-10-01 was $383,450, a difference of $8,550 (2.3%) versus the prior year and $4,450 versus the prior month.

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

Crossville's average listing price for 2024-10-01 was $454,389, a difference of $433 (0.1%) versus the prior year and $9,234 versus the prior month.

For the 2024-10-01 period, Crossville had 457 MLS listings, a difference of 32 listings (8%) versus the prior month and 184 listings (67%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Crossville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,843 sqft
2018-02-01 0 days 1,866 sqft
2018-03-01 0 days 1,893 sqft
2018-04-01 0 days 1,898 sqft
2018-05-01 0 days 1,917 sqft
2018-06-01 0 days 1,928 sqft
2018-07-01 0 days 1,934 sqft
2018-08-01 0 days 1,902 sqft
2018-09-01 0 days 1,907 sqft
2018-10-01 0 days 1,905 sqft
2018-11-01 0 days 1,930 sqft
2018-12-01 0 days 1,962 sqft
2019-01-01 0 days 2,001 sqft
2019-02-01 0 days 1,852 sqft
2019-03-01 0 days 1,878 sqft
2019-04-01 0 days 1,927 sqft
2019-05-01 0 days 1,925 sqft
2019-06-01 0 days 1,944 sqft
2019-07-01 0 days 1,962 sqft
2019-08-01 0 days 1,968 sqft
2019-09-01 0 days 1,970 sqft
2019-10-01 0 days 2,001 sqft
2019-11-01 0 days 2,000 sqft
2019-12-01 0 days 1,966 sqft
2020-01-01 0 days 1,949 sqft
2020-02-01 0 days 1,951 sqft
2020-03-01 0 days 1,925 sqft
2020-04-01 0 days 1,905 sqft
2020-05-01 0 days 1,954 sqft
2020-06-01 0 days 1,959 sqft
2020-07-01 0 days 2,037 sqft
2020-08-01 0 days 1,943 sqft
2020-09-01 0 days 1,932 sqft
2020-10-01 0 days 1,827 sqft
2020-11-01 0 days 1,793 sqft
2020-12-01 0 days 1,768 sqft
2021-01-01 0 days 1,742 sqft
2021-02-01 0 days 1,640 sqft
2021-03-01 0 days 1,770 sqft
2021-04-01 0 days 1,857 sqft
2021-05-01 0 days 1,852 sqft
2021-06-01 0 days 1,912 sqft
2021-07-01 0 days 1,912 sqft
2021-08-01 0 days 1,864 sqft
2021-09-01 0 days 1,806 sqft
2021-10-01 0 days 1,790 sqft
2021-11-01 0 days 1,811 sqft
2021-12-01 0 days 1,836 sqft
2022-01-01 0 days 1,847 sqft
2022-02-01 0 days 1,868 sqft
2022-03-01 0 days 1,800 sqft
2022-04-01 0 days 1,850 sqft
2022-05-01 0 days 1,866 sqft
2022-06-01 0 days 1,860 sqft
2022-07-01 0 days 1,861 sqft
2022-08-01 0 days 1,859 sqft
2022-09-01 0 days 1,824 sqft
2022-10-01 0 days 1,847 sqft
2022-11-01 0 days 1,840 sqft
2022-12-01 0 days 1,846 sqft
2023-01-01 0 days 1,807 sqft
2023-02-01 0 days 1,753 sqft
2023-03-01 0 days 1,755 sqft
2023-04-01 0 days 1,756 sqft
2023-05-01 0 days 1,717 sqft
2023-06-01 0 days 1,716 sqft
2023-07-01 0 days 1,750 sqft
2023-08-01 0 days 1,734 sqft
2023-09-01 0 days 1,755 sqft
2023-10-01 0 days 1,779 sqft
2023-11-01 0 days 1,739 sqft
2023-12-01 0 days 1,758 sqft
2024-01-01 0 days 1,708 sqft
2024-02-01 0 days 1,713 sqft
2024-03-01 0 days 1,722 sqft
2024-04-01 0 days 1,768 sqft
2024-05-01 0 days 1,769 sqft
2024-06-01 0 days 1,776 sqft
2024-07-01 0 days 1,786 sqft
2024-08-01 0 days 1,760 sqft
2024-09-01 0 days 1,787 sqft
2024-10-01 0 days 1,782 sqft
Crossville's median listing age (time on market) for 2024-10-01 was 0 days.

Crossville's median square footage for active listings during the 2024-10-01 period was 1,782 sqft. One year prior, the average listing was 1,779 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).