Jackson FHA Loan Rates, Closing Costs & Stats
JACKSON, 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.
Jackson's 85 lenders originated 629 FHA loans during 2023. The total origination value was $124,355,000, with an average FHA loan value of $197,703.
Jackson FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Jackson
averaged
-0.09%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Jackson's average FHA mortgage closing costs are $6,537.
The average rate for the prior week (2024-11-22) was
6.6% and
one month ago for the week of 2024-10-25, the
average rate was 6.28%.
The average rate one year ago was 6.77%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0.21%.
Jackson 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 Jackson level.
The top Jackson FHA lender as defined by loan originations is Leaders Credit Union, with
63 FHA loans originated. Their average total fees are
$6,021, which is $2,471
lower than the next largest lender,
MORTGAGE INVESTORS GROUP, INC..
The lowest fee Jackson FHA lenders (with over 10 loans originated) are
Leaders Credit Union ($6,021), EVERETT FINANCIAL, INC. ($6,472), Simmons Bank ($7,484), FirstBank ($7,648) and Regions Bank ($8,125).
The lowest rate Jackson FHA lenders (with over 10 loans originated) are
UNITED WHOLESALE MORTGAGE, LLC (6.05%), MORTGAGE INVESTORS GROUP, INC. (6.15%), AMERISAVE MORTGAGE CORPORATION (6.23%), QUICKEN LOANS, LLC (6.23%) and Regions Bank (6.31%).
Jackson FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
JACKSON, TN | CHESTER | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
JACKSON, TN | CROCKETT | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
JACKSON, TN | GIBSON | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
JACKSON, TN | MADISON | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
JACKSON, TN | CHESTER | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
JACKSON, TN | CROCKETT | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
JACKSON, TN | GIBSON | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
JACKSON, TN | MADISON | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Jackson (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 | $129,900 (11.1%) | $178,863 (13.0%) | 0.00 | 657 |
2018-02-01 | $127,900 (9.6%) | $178,849 (13.8%) | 0.00 | 652 |
2018-03-01 | $133,000 (13.9%) | $183,765 (16.2%) | 0.00 | 644 |
2018-04-01 | $132,400 (14.9%) | $182,614 (16.6%) | 0.00 | 599 |
2018-05-01 | $132,975 (10.9%) | $190,763 (18.1%) | 0.00 | 604 |
2018-06-01 | $132,450 (6.0%) | $187,285 (13.9%) | 0.00 | 623 |
2018-07-01 | $139,450 (8.9%) | $188,503 (13.1%) | 0.00 | 648 |
2018-08-01 | $142,450 (12.7%) | $193,408 (15.8%) | 0.00 | 679 |
2018-09-01 | $139,999 (8.1%) | $191,191 (9.3%) | 0.00 | 695 |
2018-10-01 | $135,450 (5.5%) | $185,089 (4.0%) | 0.00 | 726 |
2018-11-01 | $139,325 (8.3%) | $185,963 (5.2%) | 0.00 | 711 |
2018-12-01 | $137,500 (5.9%) | $184,855 (3.5%) | 0.00 | 637 |
2019-01-01 | $139,900 (7.7%) | $186,838 (4.5%) | 0.00 | 580 |
2019-02-01 | $141,925 (11.0%) | $190,278 (6.4%) | 0.00 | 539 |
2019-03-01 | $148,186 (11.4%) | $195,823 (6.6%) | 0.00 | 531 |
2019-04-01 | $153,438 (15.9%) | $203,194 (11.3%) | 0.00 | 533 |
2019-05-01 | $165,900 (24.8%) | $212,939 (11.6%) | 0.00 | 530 |
2019-06-01 | $164,900 (24.5%) | $210,393 (12.3%) | 0.00 | 556 |
2019-07-01 | $152,900 (9.7%) | $202,878 (7.6%) | 0.00 | 582 |
2019-08-01 | $144,509 (1.5%) | $195,760 (1.2%) | 0.00 | 597 |
2019-09-01 | $147,598 (5.4%) | $196,475 (2.8%) | 0.00 | 607 |
2019-10-01 | $149,975 (10.7%) | $197,458 (6.7%) | 0.00 | 613 |
2019-11-01 | $154,900 (11.2%) | $200,066 (7.6%) | 0.00 | 585 |
2019-12-01 | $156,900 (14.1%) | $201,438 (9.0%) | 0.00 | 503 |
2020-01-01 | $149,975 (7.2%) | $198,804 (6.4%) | 0.00 | 482 |
2020-02-01 | $154,900 (9.1%) | $200,752 (5.5%) | 0.00 | 438 |
2020-03-01 | $159,375 (7.6%) | $205,129 (4.8%) | 0.00 | 455 |
2020-04-01 | $165,925 (8.1%) | $208,242 (2.5%) | 0.00 | 459 |
2020-05-01 | $169,000 (1.9%) | $210,491 (-1.2%) | 0.00 | 412 |
2020-06-01 | $174,675 (5.9%) | $219,883 (4.5%) | 0.00 | 358 |
2020-07-01 | $177,450 (16.1%) | $223,953 (10.4%) | 0.00 | 336 |
2020-08-01 | $179,900 (24.5%) | $226,178 (15.5%) | 0.00 | 306 |
2020-09-01 | $179,900 (21.9%) | $233,286 (18.7%) | 0.00 | 277 |
2020-10-01 | $175,000 (16.7%) | $236,913 (20.0%) | 0.00 | 248 |
2020-11-01 | $169,900 (9.7%) | $239,191 (19.6%) | 0.00 | 261 |
2020-12-01 | $184,500 (17.6%) | $250,931 (24.6%) | 0.00 | 241 |
2021-01-01 | $182,400 (21.6%) | $263,285 (32.4%) | 0.00 | 198 |
2021-02-01 | $179,600 (16.0%) | $273,387 (36.2%) | 0.00 | 156 |
2021-03-01 | $169,225 (6.2%) | $248,708 (21.2%) | 0.00 | 139 |
2021-04-01 | $173,700 (4.7%) | $245,756 (18.0%) | 0.00 | 127 |
2021-05-01 | $169,900 (0.5%) | $260,591 (23.8%) | 0.00 | 134 |
2021-06-01 | $180,725 (3.5%) | $269,887 (22.7%) | 0.00 | 149 |
2021-07-01 | $195,000 (9.9%) | $266,873 (19.2%) | 0.00 | 176 |
2021-08-01 | $202,450 (12.5%) | $262,580 (16.1%) | 0.00 | 194 |
2021-09-01 | $194,750 (8.3%) | $256,756 (10.1%) | 0.00 | 210 |
2021-10-01 | $197,450 (12.8%) | $258,848 (9.3%) | 0.00 | 210 |
2021-11-01 | $199,450 (17.4%) | $262,304 (9.7%) | 0.00 | 208 |
2021-12-01 | $199,900 (8.4%) | $256,616 (2.3%) | 0.00 | 211 |
2022-01-01 | $199,000 (9.1%) | $259,920 (-1.3%) | 0.00 | 186 |
2022-02-01 | $182,325 (1.5%) | $245,486 (-10.2%) | 0.00 | 173 |
2022-03-01 | $184,675 (9.1%) | $244,403 (-1.7%) | 0.00 | 163 |
2022-04-01 | $199,900 (15.1%) | $253,242 (3.1%) | 0.00 | 170 |
2022-05-01 | $232,350 (36.8%) | $281,072 (7.9%) | 0.00 | 179 |
2022-06-01 | $224,950 (24.5%) | $289,044 (7.1%) | 0.00 | 228 |
2022-07-01 | $242,500 (24.4%) | $296,127 (11.0%) | 0.00 | 291 |
2022-08-01 | $249,450 (23.2%) | $303,280 (15.5%) | 0.00 | 298 |
2022-09-01 | $264,175 (35.7%) | $310,675 (21.0%) | 0.00 | 340 |
2022-10-01 | $269,000 (36.2%) | $316,963 (22.5%) | 0.00 | 364 |
2022-11-01 | $264,900 (32.8%) | $313,672 (19.6%) | 0.00 | 370 |
2022-12-01 | $264,900 (32.5%) | $319,994 (24.7%) | 0.00 | 350 |
2023-01-01 | $269,450 (35.4%) | $328,924 (26.6%) | 0.00 | 336 |
2023-02-01 | $274,900 (50.8%) | $333,327 (35.8%) | 0.00 | 307 |
2023-03-01 | $293,225 (58.8%) | $334,448 (36.8%) | 0.00 | 302 |
2023-04-01 | $295,000 (47.6%) | $340,243 (34.4%) | 0.00 | 290 |
2023-05-01 | $300,450 (29.3%) | $351,314 (25.0%) | 0.00 | 280 |
2023-06-01 | $309,675 (37.7%) | $361,631 (25.1%) | 0.00 | 294 |
2023-07-01 | $299,950 (23.7%) | $363,434 (22.7%) | 0.00 | 319 |
2023-08-01 | $298,950 (19.8%) | $370,055 (22.0%) | 0.00 | 311 |
2023-09-01 | $299,000 (13.2%) | $382,510 (23.1%) | 0.00 | 314 |
2023-10-01 | $294,350 (9.4%) | $367,475 (15.9%) | 0.00 | 376 |
2023-11-01 | $289,900 (9.4%) | $361,853 (15.4%) | 0.00 | 386 |
2023-12-01 | $289,900 (9.4%) | $338,844 (5.9%) | 0.00 | 397 |
2024-01-01 | $285,150 (5.8%) | $332,953 (1.2%) | 0.00 | 384 |
2024-02-01 | $287,400 (4.6%) | $337,634 (1.3%) | 0.00 | 369 |
2024-03-01 | $297,900 (1.6%) | $348,410 (4.2%) | 0.00 | 377 |
2024-04-01 | $299,900 (1.7%) | $361,073 (6.1%) | 0.00 | 404 |
2024-05-01 | $304,950 (1.5%) | $366,458 (4.3%) | 0.00 | 422 |
2024-06-01 | $300,000 (-3.1%) | $363,149 (0.4%) | 0.00 | 449 |
2024-07-01 | $299,900 (0.0%) | $362,759 (-0.2%) | 0.00 | 486 |
2024-08-01 | $299,900 (0.3%) | $363,895 (-1.7%) | 0.00 | 511 |
2024-09-01 | $296,225 (-0.9%) | $352,828 (-7.8%) | 0.00 | 582 |
2024-10-01 | $289,900 (-1.5%) | $355,120 (-3.4%) | 0.00 | 574 |
Jackson's median listing price comes in at 0% of the national average.
Jackson's average listing price for 2024-10-01 was $355,120, a difference of $-12,355 (-3.4%) versus the prior year and $2,292 versus the prior month.
For the 2024-10-01 period, Jackson had 574 MLS listings, a difference of -8 listings (-1%) versus the prior month and 198 listings (53%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Jackson (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,864 sqft |
2018-02-01 | 0 days | 1,840 sqft |
2018-03-01 | 0 days | 1,883 sqft |
2018-04-01 | 0 days | 1,866 sqft |
2018-05-01 | 0 days | 1,889 sqft |
2018-06-01 | 0 days | 1,850 sqft |
2018-07-01 | 0 days | 1,863 sqft |
2018-08-01 | 0 days | 1,938 sqft |
2018-09-01 | 0 days | 1,972 sqft |
2018-10-01 | 0 days | 1,883 sqft |
2018-11-01 | 0 days | 1,881 sqft |
2018-12-01 | 0 days | 1,904 sqft |
2019-01-01 | 0 days | 1,878 sqft |
2019-02-01 | 0 days | 1,881 sqft |
2019-03-01 | 0 days | 1,889 sqft |
2019-04-01 | 0 days | 1,911 sqft |
2019-05-01 | 0 days | 2,016 sqft |
2019-06-01 | 0 days | 1,964 sqft |
2019-07-01 | 0 days | 1,913 sqft |
2019-08-01 | 0 days | 1,873 sqft |
2019-09-01 | 0 days | 1,865 sqft |
2019-10-01 | 0 days | 1,859 sqft |
2019-11-01 | 0 days | 1,894 sqft |
2019-12-01 | 0 days | 1,891 sqft |
2020-01-01 | 0 days | 1,868 sqft |
2020-02-01 | 0 days | 1,926 sqft |
2020-03-01 | 0 days | 1,917 sqft |
2020-04-01 | 0 days | 1,953 sqft |
2020-05-01 | 0 days | 1,956 sqft |
2020-06-01 | 0 days | 1,981 sqft |
2020-07-01 | 0 days | 2,003 sqft |
2020-08-01 | 0 days | 1,965 sqft |
2020-09-01 | 0 days | 1,967 sqft |
2020-10-01 | 0 days | 1,938 sqft |
2020-11-01 | 0 days | 1,981 sqft |
2020-12-01 | 0 days | 1,958 sqft |
2021-01-01 | 0 days | 1,950 sqft |
2021-02-01 | 0 days | 1,940 sqft |
2021-03-01 | 0 days | 1,779 sqft |
2021-04-01 | 0 days | 1,870 sqft |
2021-05-01 | 0 days | 1,852 sqft |
2021-06-01 | 0 days | 1,746 sqft |
2021-07-01 | 0 days | 1,810 sqft |
2021-08-01 | 0 days | 1,818 sqft |
2021-09-01 | 0 days | 1,821 sqft |
2021-10-01 | 0 days | 1,800 sqft |
2021-11-01 | 0 days | 1,726 sqft |
2021-12-01 | 0 days | 1,718 sqft |
2022-01-01 | 0 days | 1,714 sqft |
2022-02-01 | 0 days | 1,665 sqft |
2022-03-01 | 0 days | 1,683 sqft |
2022-04-01 | 0 days | 1,726 sqft |
2022-05-01 | 0 days | 1,753 sqft |
2022-06-01 | 0 days | 1,808 sqft |
2022-07-01 | 0 days | 1,901 sqft |
2022-08-01 | 0 days | 1,892 sqft |
2022-09-01 | 0 days | 1,890 sqft |
2022-10-01 | 0 days | 1,919 sqft |
2022-11-01 | 0 days | 1,991 sqft |
2022-12-01 | 0 days | 1,961 sqft |
2023-01-01 | 0 days | 1,924 sqft |
2023-02-01 | 0 days | 1,917 sqft |
2023-03-01 | 0 days | 1,965 sqft |
2023-04-01 | 0 days | 1,962 sqft |
2023-05-01 | 0 days | 1,975 sqft |
2023-06-01 | 0 days | 2,063 sqft |
2023-07-01 | 0 days | 2,061 sqft |
2023-08-01 | 0 days | 2,077 sqft |
2023-09-01 | 0 days | 2,000 sqft |
2023-10-01 | 0 days | 1,969 sqft |
2023-11-01 | 0 days | 1,933 sqft |
2023-12-01 | 0 days | 1,911 sqft |
2024-01-01 | 0 days | 1,896 sqft |
2024-02-01 | 0 days | 1,897 sqft |
2024-03-01 | 0 days | 1,988 sqft |
2024-04-01 | 0 days | 2,016 sqft |
2024-05-01 | 0 days | 2,077 sqft |
2024-06-01 | 0 days | 2,061 sqft |
2024-07-01 | 0 days | 2,031 sqft |
2024-08-01 | 0 days | 2,055 sqft |
2024-09-01 | 0 days | 1,979 sqft |
2024-10-01 | 0 days | 1,926 sqft |
Jackson's median square footage for active listings during the 2024-10-01 period was 1,926 sqft. One year prior, the average listing was 1,969 sqft.