Dyersburg FHA Loan Rates, Closing Costs & Stats

Dyersburg, TN

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    • 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.

    Dyersburg's 24 lenders originated 116 FHA loans during 2023. The total origination value was $22,070,000, with an average FHA loan value of $190,259.

    Dyersburg FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Dyersburg averaged 6.52% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Dyersburg's average FHA mortgage closing costs are $5,933.

    The average rate for the prior week (2024-04-12) was 6.51% and one month ago for the week of 2024-03-15, the average rate was 6.38%.

    The average rate one year ago was 6.21%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.06%.

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

    Dyersburg 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 Dyersburg level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Leaders Credit Union 17 6.39% $5,166
    QUICKEN LOANS, LLC 15 6.20% $7,593
    Regions Bank 14 6.08% $7,036
    EVERETT FINANCIAL, INC. 9 7.07% $8,305
    FREEDOM MORTGAGE CORPORATION 5 7.15% $11,701
    First Citizens National Bank 5 6.65% $9,525
    Simmons Bank 4 6.63% $6,703
    Bank of England 3 6.13% $13,524
    BROKER SOLUTIONS, INC. 3 7.25% $7,679
    Carrington Mortgage Services, LLC 3 5.75% $10,639
    FIRST COMMUNITY MORTGAGE, INC. 3 6.21% $9,016
    Patriot Bank 3 6.83% $8,350
    STOCKTON MORTGAGE CORPORATION 3 5.88% $13,065
    MORTGAGE INVESTORS GROUP, INC. 2 5.69% $7,654
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 7.19% $6,721
    CROSSCOUNTRY MORTGAGE, LLC 2 6.44% $9,339
    UNITED WHOLESALE MORTGAGE, LLC 2 6.63% $9,018
    Plains Commerce Bank 1 6.75% $9,893
    GMFS LLC 1 7.63% $8,042
    Equity Prime Mortgage LLC 1 8.25% $6,438
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.63% $7,540
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $13,634
    Paramount Residential Mortgage Group, Inc. 1 5.75% $11,444
    THRIVE MORTGAGE, LLC 1 5.63% $13,256

    The top Dyersburg FHA lender as defined by loan originations is Leaders Credit Union, with 17 FHA loans originated. Their average total fees are $5,166, which is $2,427 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Dyersburg FHA lenders (with over 10 loans originated) are Leaders Credit Union ($5,166), Regions Bank ($7,036), QUICKEN LOANS, LLC ($7,593), .

    The lowest rate Dyersburg FHA lenders (with over 10 loans originated) are Regions Bank (6.08%), QUICKEN LOANS, LLC (6.20%), Leaders Credit Union (6.39%), .

    Dyersburg FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Dyersburg (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 $115,500 (-11.5%) $141,566 (-6.0%) 0.00 111
    2018-02-01 $112,425 (-13.3%) $144,130 (-5.3%) 0.00 110
    2018-03-01 $118,500 (-8.8%) $145,600 (-5.9%) 0.00 102
    2018-04-01 $127,400 (-5.3%) $152,310 (-0.2%) 0.00 117
    2018-05-01 $126,700 (-5.2%) $154,104 (-0.4%) 0.00 130
    2018-06-01 $133,500 (-4.3%) $162,459 (1.4%) 0.00 131
    2018-07-01 $133,500 (2.8%) $157,814 (2.9%) 0.00 133
    2018-08-01 $132,450 (4.0%) $154,272 (3.5%) 0.00 135
    2018-09-01 $136,700 (9.8%) $155,215 (5.6%) 0.00 140
    2018-10-01 $148,650 (22.7%) $165,813 (15.2%) 0.00 137
    2018-11-01 $136,000 (13.4%) $159,651 (10.7%) 0.00 141
    2018-12-01 $138,000 (17.0%) $160,570 (10.4%) 0.00 133
    2019-01-01 $139,900 (21.1%) $161,815 (14.3%) 0.00 121
    2019-02-01 $144,200 (28.3%) $165,088 (14.5%) 0.00 119
    2019-03-01 $154,186 (30.1%) $168,642 (15.8%) 0.00 115
    2019-04-01 $159,900 (25.5%) $169,778 (11.5%) 0.00 119
    2019-05-01 $157,400 (24.2%) $172,385 (11.9%) 0.00 122
    2019-06-01 $154,700 (15.9%) $173,422 (6.8%) 0.00 114
    2019-07-01 $134,975 (1.1%) $164,315 (4.1%) 0.00 105
    2019-08-01 $139,091 (5.0%) $162,871 (5.6%) 0.00 104
    2019-09-01 $145,227 (6.2%) $160,657 (3.5%) 0.00 104
    2019-10-01 $150,000 (0.9%) $159,439 (-3.8%) 0.00 106
    2019-11-01 $154,900 (13.9%) $165,472 (3.7%) 0.00 100
    2019-12-01 $152,425 (10.5%) $168,804 (5.1%) 0.00 86
    2020-01-01 $149,900 (7.2%) $164,682 (1.8%) 0.00 89
    2020-02-01 $138,700 (-3.8%) $155,846 (-5.6%) 0.00 80
    2020-03-01 $143,000 (-7.3%) $150,409 (-10.8%) 0.00 80
    2020-04-01 $148,950 (-6.9%) $156,599 (-7.8%) 0.00 77
    2020-05-01 $149,250 (-5.2%) $161,292 (-6.4%) 0.00 80
    2020-06-01 $164,550 (6.4%) $178,677 (3.0%) 0.00 62
    2020-07-01 $161,450 (19.6%) $171,369 (4.3%) 0.00 62
    2020-08-01 $131,200 (-5.7%) $165,520 (1.6%) 0.00 59
    2020-09-01 $132,450 (-8.8%) $164,942 (2.7%) 0.00 39
    2020-10-01 $117,400 (-21.7%) $145,814 (-8.6%) 0.00 36
    2020-11-01 $119,000 (-23.2%) $151,340 (-8.5%) 0.00 39
    2020-12-01 $107,250 (-29.6%) $151,791 (-10.1%) 0.00 38
    2021-01-01 $104,950 (-30.0%) $138,903 (-15.7%) 0.00 34
    2021-02-01 $94,500 (-31.9%) $126,282 (-19.0%) 0.00 38
    2021-03-01 $78,000 (-45.5%) $130,358 (-13.3%) 0.00 32
    2021-04-01 $130,125 (-12.6%) $181,957 (16.2%) 0.00 27
    2021-05-01 $149,400 (0.1%) $213,950 (32.7%) 0.00 23
    2021-06-01 $134,450 (-18.3%) $188,250 (5.4%) 0.00 39
    2021-07-01 $139,900 (-13.4%) $188,666 (10.1%) 0.00 44
    2021-08-01 $139,500 (6.3%) $172,890 (4.5%) 0.00 53
    2021-09-01 $151,150 (14.1%) $177,651 (7.7%) 0.00 57
    2021-10-01 $154,900 (31.9%) $182,128 (24.9%) 0.00 48
    2021-11-01 $117,300 (-1.4%) $169,215 (11.8%) 0.00 50
    2021-12-01 $99,450 (-7.3%) $148,042 (-2.5%) 0.00 58
    2022-01-01 $85,000 (-19.0%) $135,140 (-2.7%) 0.00 48
    2022-02-01 $117,500 (24.3%) $153,827 (21.8%) 0.00 42
    2022-03-01 $136,175 (74.6%) $172,291 (32.2%) 0.00 37
    2022-04-01 $154,950 (19.1%) $184,703 (1.5%) 0.00 46
    2022-05-01 $171,950 (15.1%) $199,708 (-6.7%) 0.00 51
    2022-06-01 $158,450 (17.9%) $202,585 (7.6%) 0.00 49
    2022-07-01 $159,000 (13.7%) $215,137 (14.0%) 0.00 57
    2022-08-01 $198,650 (42.4%) $241,876 (39.9%) 0.00 68
    2022-09-01 $231,925 (53.4%) $254,783 (43.4%) 0.00 74
    2022-10-01 $239,500 (54.6%) $261,365 (43.5%) 0.00 70
    2022-11-01 $226,925 (93.5%) $253,377 (49.7%) 0.00 75
    2022-12-01 $247,250 (148.6%) $261,697 (76.8%) 0.00 71
    2023-01-01 $248,450 (192.3%) $255,585 (89.1%) 0.00 68
    2023-02-01 $238,950 (103.4%) $245,211 (59.4%) 0.00 54
    2023-03-01 $241,150 (77.1%) $239,532 (39.0%) 0.00 52
    2023-04-01 $226,200 (46.0%) $236,987 (28.3%) 0.00 53
    2023-05-01 $229,900 (33.7%) $236,862 (18.6%) 0.00 53
    2023-06-01 $235,975 (48.9%) $244,924 (20.9%) 0.00 65
    2023-07-01 $224,250 (41.0%) $254,703 (18.4%) 0.00 54
    2023-08-01 $232,300 (16.9%) $246,567 (1.9%) 0.00 62
    2023-09-01 $214,950 (-7.3%) $222,427 (-12.7%) 0.00 71
    2023-10-01 $197,975 (-17.3%) $215,769 (-17.5%) 0.00 70
    2023-11-01 $194,450 (-14.3%) $214,259 (-15.4%) 0.00 77
    2023-12-01 $184,900 (-25.2%) $221,346 (-15.4%) 0.00 80
    2024-01-01 $189,825 (-23.6%) $225,176 (-11.9%) 0.00 83
    2024-02-01 $198,975 (-16.7%) $226,582 (-7.6%) 0.00 69
    2024-03-01 $224,900 (-6.7%) $262,599 (9.6%) 0.00 67
    Dyersburg's median listing price for 2024-03-01 was $224,900, a difference of $-16,250 (-6.7%) versus the prior year and $25,925 versus the prior month.

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

    Dyersburg's average listing price for 2024-03-01 was $262,599, a difference of $23,067 (9.6%) versus the prior year and $36,017 versus the prior month.

    For the 2024-03-01 period, Dyersburg had 67 MLS listings, a difference of -2 listings (-3%) versus the prior month and 15 listings (29%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Dyersburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,665 sqft
    2018-02-01 0 days 1,655 sqft
    2018-03-01 0 days 1,648 sqft
    2018-04-01 0 days 1,673 sqft
    2018-05-01 0 days 1,648 sqft
    2018-06-01 0 days 1,778 sqft
    2018-07-01 0 days 1,769 sqft
    2018-08-01 0 days 1,769 sqft
    2018-09-01 0 days 1,792 sqft
    2018-10-01 0 days 1,947 sqft
    2018-11-01 0 days 1,865 sqft
    2018-12-01 0 days 1,902 sqft
    2019-01-01 0 days 1,847 sqft
    2019-02-01 0 days 1,843 sqft
    2019-03-01 0 days 1,847 sqft
    2019-04-01 0 days 1,841 sqft
    2019-05-01 0 days 1,882 sqft
    2019-06-01 0 days 1,928 sqft
    2019-07-01 0 days 1,848 sqft
    2019-08-01 0 days 1,865 sqft
    2019-09-01 0 days 1,902 sqft
    2019-10-01 0 days 1,927 sqft
    2019-11-01 0 days 1,946 sqft
    2019-12-01 0 days 1,990 sqft
    2020-01-01 0 days 2,022 sqft
    2020-02-01 0 days 1,883 sqft
    2020-03-01 0 days 1,862 sqft
    2020-04-01 0 days 1,962 sqft
    2020-05-01 0 days 1,915 sqft
    2020-06-01 0 days 1,990 sqft
    2020-07-01 0 days 2,089 sqft
    2020-08-01 0 days 1,937 sqft
    2020-09-01 0 days 2,073 sqft
    2020-10-01 0 days 1,539 sqft
    2020-11-01 0 days 1,604 sqft
    2020-12-01 0 days 1,696 sqft
    2021-01-01 0 days 1,512 sqft
    2021-02-01 0 days 1,477 sqft
    2021-03-01 0 days 1,440 sqft
    2021-04-01 0 days 1,670 sqft
    2021-05-01 0 days 1,891 sqft
    2021-06-01 0 days 1,620 sqft
    2021-07-01 0 days 1,642 sqft
    2021-08-01 0 days 1,683 sqft
    2021-09-01 0 days 1,801 sqft
    2021-10-01 0 days 1,729 sqft
    2021-11-01 0 days 1,510 sqft
    2021-12-01 0 days 1,475 sqft
    2022-01-01 0 days 1,392 sqft
    2022-02-01 0 days 1,695 sqft
    2022-03-01 0 days 1,677 sqft
    2022-04-01 0 days 1,660 sqft
    2022-05-01 0 days 1,696 sqft
    2022-06-01 0 days 1,732 sqft
    2022-07-01 0 days 1,782 sqft
    2022-08-01 0 days 1,840 sqft
    2022-09-01 0 days 1,871 sqft
    2022-10-01 0 days 1,892 sqft
    2022-11-01 0 days 1,876 sqft
    2022-12-01 0 days 2,022 sqft
    2023-01-01 0 days 2,025 sqft
    2023-02-01 0 days 1,875 sqft
    2023-03-01 0 days 1,938 sqft
    2023-04-01 0 days 1,933 sqft
    2023-05-01 0 days 1,943 sqft
    2023-06-01 0 days 1,922 sqft
    2023-07-01 0 days 1,987 sqft
    2023-08-01 0 days 1,999 sqft
    2023-09-01 0 days 1,869 sqft
    2023-10-01 0 days 1,876 sqft
    2023-11-01 0 days 1,840 sqft
    2023-12-01 0 days 1,633 sqft
    2024-01-01 0 days 1,635 sqft
    2024-02-01 0 days 1,721 sqft
    2024-03-01 0 days 1,789 sqft
    Dyersburg's median listing age (time on market) for 2024-03-01 was 0 days.

    Dyersburg's median square footage for active listings during the 2024-03-01 period was 1,789 sqft. One year prior, the average listing was 1,938 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).