Johnson City FHA Loans
JOHNSON CITY, 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.
Johnson City's 69 lenders originated 669 FHA loans during 2021. The total origination value was $112,535,000, with an average FHA loan value of $168,214.
Johnson City FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Johnson City
averaged
5.44%
for the week of 2022-05-20, compared to the national average (all FHA variants) of
5.352% for the same period.
The average rate for the prior week (2022-05-13) was
5.24% and
one month ago for the week of 2022-04-15, the
average rate was 5.34%.
The average rate one year ago was 3.31%.
For refis of the same type during the week of 2022-05-20, the average rate
was 4.9%.
Johnson City FHA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Johnson City level.
The top Johnson City FHA lender as defined by loan originations is CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP, with
69 FHA loans originated. Their average total fees are
$7,562, which is $1,794
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Johnson City FHA lenders (with over 10 loans originated) are
LAKEVIEW LOAN SERVICING, LLC ($3,996), PENNYMAC LOAN SERVICES, LLC ($4,575), FREEDOM MORTGAGE CORPORATION ($5,068), QUICKEN LOANS, LLC ($5,768) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($5,821).
The lowest rate Johnson City FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (2.72%), FREEDOM MORTGAGE CORPORATION (2.88%), GUARANTEED RATE, INC. (2.96%), Sierra Pacific Mortgage Company, Inc. (3.01%) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION (3.02%).
Johnson City FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
JOHNSON CITY, TN | CARTER | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
JOHNSON CITY, TN | UNICOI | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
JOHNSON CITY, TN | WASHINGTON | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Johnson City (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 | $197,450 (8.3%) | $274,809 (12.3%) | 0.73 | 764 |
2018-02-01 | $199,900 (8.1%) | $274,711 (10.7%) | 0.72 | 735 |
2018-03-01 | $202,500 (9.5%) | $283,425 (14.5%) | 0.70 | 746 |
2018-04-01 | $210,000 (10.6%) | $291,238 (15.0%) | 0.70 | 733 |
2018-05-01 | $224,900 (18.4%) | $297,311 (16.7%) | 0.75 | 742 |
2018-06-01 | $225,000 (18.5%) | $298,019 (17.0%) | 0.75 | 802 |
2018-07-01 | $218,450 (12.1%) | $292,758 (13.1%) | 0.73 | 826 |
2018-08-01 | $215,000 (8.0%) | $293,925 (13.0%) | 0.72 | 859 |
2018-09-01 | $215,000 (7.6%) | $288,686 (10.3%) | 0.72 | 887 |
2018-10-01 | $208,350 (3.8%) | $280,287 (4.7%) | 0.70 | 891 |
2018-11-01 | $208,000 (4.4%) | $274,901 (4.4%) | 0.70 | 907 |
2018-12-01 | $198,250 (-0.8%) | $269,603 (-0.1%) | 0.68 | 857 |
2019-01-01 | $192,400 (-2.6%) | $268,504 (-2.3%) | 0.66 | 791 |
2019-02-01 | $189,000 (-5.5%) | $264,153 (-3.8%) | 0.63 | 785 |
2019-03-01 | $198,943 (-1.8%) | $281,508 (-0.7%) | 0.65 | 705 |
2019-04-01 | $217,450 (3.6%) | $302,027 (3.7%) | 0.68 | 617 |
2019-05-01 | $231,950 (3.1%) | $308,373 (3.7%) | 0.71 | 632 |
2019-06-01 | $229,900 (2.2%) | $318,283 (6.8%) | 0.71 | 634 |
2019-07-01 | $229,900 (5.2%) | $316,954 (8.3%) | 0.71 | 661 |
2019-08-01 | $229,043 (6.5%) | $314,298 (6.9%) | 0.72 | 657 |
2019-09-01 | $228,543 (6.3%) | $315,808 (9.4%) | 0.73 | 652 |
2019-10-01 | $237,450 (14.0%) | $321,288 (14.6%) | 0.76 | 661 |
2019-11-01 | $215,000 (3.4%) | $290,366 (5.6%) | 0.69 | 834 |
2019-12-01 | $229,900 (16.0%) | $318,286 (18.1%) | 0.77 | 578 |
2020-01-01 | $238,900 (24.2%) | $322,531 (20.1%) | 0.80 | 516 |
2020-02-01 | $245,000 (29.6%) | $331,494 (25.5%) | 0.79 | 480 |
2020-03-01 | $249,700 (25.5%) | $341,353 (21.3%) | 0.78 | 440 |
2020-04-01 | $258,950 (19.1%) | $337,902 (11.9%) | 0.81 | 402 |
2020-05-01 | $274,900 (18.5%) | $348,254 (12.9%) | 0.83 | 362 |
2020-06-01 | $265,000 (15.3%) | $344,406 (8.2%) | 0.77 | 346 |
2020-07-01 | $264,900 (15.2%) | $373,268 (17.8%) | 0.76 | 328 |
2020-08-01 | $284,000 (24.0%) | $388,725 (23.7%) | 0.81 | 315 |
2020-09-01 | $288,000 (26.0%) | $404,285 (28.0%) | 0.82 | 304 |
2020-10-01 | $279,900 (17.9%) | $395,722 (23.2%) | 0.80 | 323 |
2020-11-01 | $279,950 (30.2%) | $407,943 (40.5%) | 0.80 | 292 |
2020-12-01 | $281,950 (22.6%) | $401,788 (26.2%) | 0.83 | 279 |
2021-01-01 | $275,000 (15.1%) | $385,452 (19.5%) | 0.81 | 223 |
2021-02-01 | $277,000 (13.1%) | $412,043 (24.3%) | 0.80 | 168 |
2021-03-01 | $299,900 (20.1%) | $449,121 (31.6%) | 0.84 | 152 |
2021-04-01 | $309,900 (19.7%) | $462,756 (37.0%) | 0.83 | 156 |
2021-05-01 | $299,900 (9.1%) | $475,080 (36.4%) | 0.79 | 173 |
2021-06-01 | $298,000 (12.5%) | $422,014 (22.5%) | 0.77 | 197 |
2021-07-01 | $262,000 (-1.1%) | $413,135 (10.7%) | 0.68 | 201 |
2021-08-01 | $299,000 (5.3%) | $457,153 (17.6%) | 0.79 | 236 |
2021-09-01 | $294,450 (2.2%) | $470,286 (16.3%) | 0.77 | 244 |
2021-10-01 | $299,900 (7.2%) | $449,921 (13.7%) | 0.79 | 278 |
2021-11-01 | $317,450 (13.4%) | $482,898 (18.4%) | 0.84 | 229 |
2021-12-01 | $315,000 (11.7%) | $482,984 (20.2%) | 0.84 | 191 |
2022-01-01 | $324,900 (18.2%) | $507,493 (31.7%) | 0.87 | 142 |
2022-02-01 | $372,450 (34.5%) | $550,689 (33.7%) | 0.95 | 116 |
2022-03-01 | $350,000 (16.7%) | $513,265 (14.3%) | 0.86 | 138 |
2022-04-01 | $364,900 (17.8%) | $528,413 (14.2%) | 0.86 | 150 |
Johnson City's median listing price comes in at 86% of the national average.
Johnson City's average listing price for 2022-04-01 was $528,413, a difference of $65,657 (14.2%) versus the prior year and $15,148 versus the prior month.
For the 2022-04-01 period, Johnson City had 150 MLS listings, a difference of 12 listings (9%) versus the prior month and -6 listings (-4%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Johnson City (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 96 days | 1,997 sqft |
2018-02-01 | 93 days | 1,965 sqft |
2018-03-01 | 74 days | 1,958 sqft |
2018-04-01 | 68 days | 1,999 sqft |
2018-05-01 | 68 days | 2,048 sqft |
2018-06-01 | 58 days | 2,100 sqft |
2018-07-01 | 65 days | 2,106 sqft |
2018-08-01 | 68 days | 2,042 sqft |
2018-09-01 | 68 days | 2,061 sqft |
2018-10-01 | 75 days | 2,028 sqft |
2018-11-01 | 79 days | 1,915 sqft |
2018-12-01 | 92 days | 1,904 sqft |
2019-01-01 | 99 days | 1,833 sqft |
2019-02-01 | 99 days | 1,834 sqft |
2019-03-01 | 78 days | 1,910 sqft |
2019-04-01 | 64 days | 1,994 sqft |
2019-05-01 | 56 days | 2,056 sqft |
2019-06-01 | 62 days | 2,069 sqft |
2019-07-01 | 63 days | 2,072 sqft |
2019-08-01 | 63 days | 2,035 sqft |
2019-09-01 | 67 days | 2,026 sqft |
2019-10-01 | 67 days | 2,083 sqft |
2019-11-01 | 67 days | 2,028 sqft |
2019-12-01 | 83 days | 2,090 sqft |
2020-01-01 | 96 days | 2,095 sqft |
2020-02-01 | 93 days | 2,047 sqft |
2020-03-01 | 63 days | 2,032 sqft |
2020-04-01 | 59 days | 2,040 sqft |
2020-05-01 | 67 days | 2,028 sqft |
2020-06-01 | 54 days | 1,991 sqft |
2020-07-01 | 52 days | 1,996 sqft |
2020-08-01 | 46 days | 2,030 sqft |
2020-09-01 | 44 days | 2,040 sqft |
2020-10-01 | 43 days | 2,000 sqft |
2020-11-01 | 47 days | 2,043 sqft |
2020-12-01 | 53 days | 1,988 sqft |
2021-01-01 | 64 days | 1,949 sqft |
2021-02-01 | 50 days | 1,915 sqft |
2021-03-01 | 33 days | 2,078 sqft |
2021-04-01 | 29 days | 2,157 sqft |
2021-05-01 | 21 days | 2,056 sqft |
2021-06-01 | 26 days | 1,987 sqft |
2021-07-01 | 25 days | 1,850 sqft |
2021-08-01 | 25 days | 1,936 sqft |
2021-09-01 | 31 days | 1,922 sqft |
2021-10-01 | 34 days | 1,821 sqft |
2021-11-01 | 45 days | 1,802 sqft |
2021-12-01 | 56 days | 1,844 sqft |
2022-01-01 | 60 days | 1,790 sqft |
2022-02-01 | 40 days | 1,919 sqft |
2022-03-01 | 27 days | 1,896 sqft |
2022-04-01 | 25 days | 1,894 sqft |
Johnson City's median square footage for active listings during the 2022-04-01 period was 1,894 sqft. One year prior, the average listing was 2,157 sqft.