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%.

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

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.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 69 3.43% $7,562
QUICKEN LOANS, LLC 67 2.72% $5,768
MOVEMENT MORTGAGE, LLC 38 3.11% $6,009
FREEDOM MORTGAGE CORPORATION 31 2.88% $5,068
MORTGAGE INVESTORS GROUP, INC. 30 3.04% $6,760
GUARANTEED RATE, INC. 26 2.96% $7,516
LAKEVIEW LOAN SERVICING, LLC 24 3.09% $3,996
PENNYMAC LOAN SERVICES, LLC 22 3.04% $4,575
Sierra Pacific Mortgage Company, Inc. 21 3.01% $7,696
AMERICAN FINANCIAL NETWORK, INC. 18 3.25% $10,020
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 16 3.02% $5,821
LOANDEPOT.COM, LLC 13 3.16% $7,346
ARK-LA-TEX FINANCIAL SERVICES, LLC. 11 3.52% $6,016
CMG MORTGAGE, INC. 11 3.32% $7,381
STOCKTON MORTGAGE CORPORATION 10 3.45% $7,277
UNITED WHOLESALE MORTGAGE, LLC 9 2.52% $6,782
SECURITYNATIONAL MORTGAGE COMPANY 8 3.45% $7,624
AmeriHome Mortgage Company, LLC 6 2.85% $3,542
Mr. Cooper ( Nationstar Mortgage ) 6 3.33% $3,783
HANCOCK MORTGAGE PARTNERS, LLC 6 3.23% $7,008
BROKER SOLUTIONS, INC. 5 3.35% $7,883
Gateway First Bank 5 3.25% $4,306
VILLAGE CAPITAL & INVESTMENT LLC 5 3.40% $1,738
PRIMARY RESIDENTIAL MORTGAGE, INC. 5 3.73% $6,215
Carrington Mortgage Services, LLC 5 3.25% $6,810
First Guaranty Mortgage Corporation 5 2.73% $5,002
Regions Bank 4 2.72% $6,563
Bank of Tennessee 4 2.88% $6,376
CALIBER HOME LOANS, INC. 4 2.72% $4,204
Citizens Bank 4 2.59% $7,356
FIRST COMMUNITY MORTGAGE, INC. 4 3.09% $5,578
HOMEBRIDGE FINANCIAL SERVICES, INC. 4 2.53% $6,035
VANDERBILT MORTGAGE AND FINANCE, INC. 4 3.56% $7,043
AMERICAN FINANCING CORPORATION 3 2.67% $5,150
SUCCESS MORTGAGE PARTNERS, INC. 3 3.29% $7,045
SUN WEST MORTGAGE COMPANY, INC. 3 3.49% $2,945
UNION HOME MORTGAGE CORP. 3 3.25% $5,861
AMERICAN FINANCIAL RESOURCES, INC. 3 3.54% $5,857
SOUTHWEST STAGE FUNDING, LLC 3 3.00% $3,443
AMERISAVE MORTGAGE CORPORATION 3 3.17% $6,989
Florida Capital Bank 3 2.58% $9,195
1ST SIGNATURE LENDING, LLC 2 3.25% $6,998
Nations Lending Corporation 2 3.06% $13,513
RELIANCE FIRST CAPITAL, LLC 2 3.00% $9,715
INTERLINC MORTGAGE SERVICES, LLC 2 3.31% $3,918
NEWREZ LLC 2 3.56% $2,469
CROSSCOUNTRY MORTGAGE, LLC 2 3.56% $8,735
LENDUS, LLC 2 2.94% $8,937
DHI MORTGAGE COMPANY, LTD. 2 3.13% $6,642
RADIUS FINANCIAL GROUP INC. 2 3.75% $5,556
ACADEMY MORTGAGE CORPORATION 1 3.13% $9,814
InterContinental Capital Group, Inc 1 2.38% $11,540
HOMESIDE FINANCIAL, LLC 1 2.63% $8,435
ISERVE RESIDENTIAL LENDING, LLC 1 3.50% $12,080
HOME POINT FINANCIAL CORPORATION 1 2.88% $2,796
MID AMERICA MORTGAGE, INC. 1 2.25% $838
FIRST CENTENNIAL MORTGAGE CORPORATION 1 3.25% $8,138
FINANCE OF AMERICA MORTGAGE LLC 1 3.75% $6,307
NATIONWIDE MORTGAGE BANKERS, INC. 1 3.00% $11,613
PLANET HOME LENDING, LLC 1 2.75% $5,818
Colonial Savings, F.A. 1 3.50% $7,901
A Mortgage Boutique, LLC 1 2.63% $6,395
RANLIFE, INC. 1 2.50% $9,444
Renasant Bank 1 3.00% $5,034
Ameris Bank 1 2.63% $4,946
SOUTHWEST FUNDING, LP 1 3.75% $7,634
SOVEREIGN LENDING GROUP INCORPORATED 1 2.99% $12,391
STEARNS LENDING, LLC 1 3.25% $4,921
U.S. Bank 1 3.13% $10,796

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. Louis
Date 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 for 2022-04-01 was $364,900, a difference of $55,000 (17.8%) versus the prior year and $14,900 versus the prior month.

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. Louis
Date 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 listing age (time on market) for 2022-04-01 was 25 days. This is -12% shorter than the same period one year ago.

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.

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).