Johnson City FHA Loan Rates, Closing Costs & Stats

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 71 lenders originated 442 FHA loans during 2023. The total origination value was $130,940,000, with an average FHA loan value of $296,244.

Johnson City FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Johnson City averaged 6.69% for the week of 2024-05-17, compared to the national average (all FHA variants) of 6.744% for the same period.

Johnson City's average FHA mortgage closing costs are $7,242.

The average rate for the prior week (2024-05-10) was 6.93% and one month ago for the week of 2024-04-12, the average rate was 6.7%.

The average rate one year ago was 6.65%.

For refis of the same type during the week of 2024-05-17, the average rate was 6.6%.

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/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Johnson City level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 47 6.33% $10,975
MOVEMENT MORTGAGE, LLC 31 6.83% $9,055
CARDINAL FINANCIAL 28 6.41% $12,175
MORTGAGE INVESTORS GROUP, INC. 24 6.32% $8,406
UNITED WHOLESALE MORTGAGE, LLC 21 6.44% $10,812
Sierra Pacific Mortgage Company, Inc. 16 6.52% $12,666
FREEDOM MORTGAGE CORPORATION 15 7.09% $10,867
GVC MORTGAGE, INC. 14 6.32% $11,291
PENNYMAC LOAN SERVICES, LLC 13 6.13% $12,180
ALAMEDA MORTGAGE CORPORATION 13 7.00% $8,959
DHI MORTGAGE COMPANY, LTD. 11 5.90% $6,928
Bank of Tennessee 10 6.37% $8,497
LOANDEPOT.COM, LLC 9 6.46% $9,869
GUARANTEED RATE, INC. 7 6.77% $8,629
RELIANCE FIRST CAPITAL, LLC 7 6.84% $11,013
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 6.82% $9,180
CMG MORTGAGE, INC. 6 6.88% $7,991
Regions Bank 5 6.40% $7,711
Carrington Mortgage Services, LLC 5 6.28% $11,253
CROSSCOUNTRY MORTGAGE, LLC 5 7.28% $8,294
STOCKTON MORTGAGE CORPORATION 5 6.38% $9,349
FIRST COMMUNITY MORTGAGE, INC. 5 6.38% $9,380
AMERISAVE MORTGAGE CORPORATION 5 5.83% $16,138
ISERVE RESIDENTIAL LENDING, LLC 5 7.05% $15,275
ROSS MORTGAGE CORPORATION 4 7.03% $10,402
MILEND, INC. 4 6.50% $14,271
MUTUAL OF OMAHA MORTGAGE, INC. 4 6.38% $9,241
ARK-LA-TEX FINANCIAL SERVICES, LLC. 4 6.78% $13,198
LEADERONE FINANCIAL CORPORATION 4 6.81% $11,865
BROKER SOLUTIONS, INC. 4 6.84% $11,512
Truist 3 5.83% $8,620
DELMAR FINANCIAL COMPANY 3 6.79% $11,340
GENEVA FINANCIAL, LLC 3 7.00% $13,107
PLAZA HOME MORTGAGE, INC. 3 6.16% $10,504
UNION HOME MORTGAGE CORP. 2 6.38% $9,465
Century Mortgage Company DBA Century Lending Company 2 6.25% $5,786
U.S. Bank 2 6.50% $8,180
Mr. Cooper ( Nationstar Mortgage ) 2 6.50% $14,192
LAKEVIEW LOAN SERVICING, LLC 2 5.88% $13,079
CHURCHILL MORTGAGE CORPORATION 2 6.25% $12,199
Wolfe Financial, Inc 2 6.94% $8,347
EVERETT FINANCIAL, INC. 2 7.31% $7,701
Mortgage Research Center, LLC 1 7.13% $7,401
Equity Prime Mortgage LLC 1 7.25% $6,713
Nations Lending Corporation 1 7.25% $23,891
NEWREZ LLC 1 6.00% $13,441
OCMBC, INC. 1 7.50% $14,982
EMM LOANS LLC 1 5.75% $12,551
ZILLOW HOME LOANS, LLC 1 6.25% $12,863
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 5.75% $18,453
Prosperity Home Mortgage, LLC 1 6.49% $12,076
CORNERSTONE HOME LENDING, INC. 1 6.63% $4,925
CityWorth Mortgage LLC 1 5.75% $7,895
CHERRY CREEK MORTGAGE, LLC 1 6.25% $5,157
CALCON MUTUAL MORTGAGE LLC 1 9.20% $8,887
SUN WEST MORTGAGE COMPANY, INC. 1 6.35% $9,784
The Federal Savings Bank 1 5.63% $24,256
ACADEMY MORTGAGE CORPORATION 1 7.00% $12,242
AmeriHome Mortgage Company, LLC 1 6.99% $9,239
VAN DYK MORTGAGE CORPORATION 1 6.13% $25,236
VERITAS FUNDING, LLC 1 5.63% $7,699
Willamette Valley Bank 1 6.63% $9,589
JPMorgan Chase Bank 1 6.50% $7,067
HOMESIDE FINANCIAL, LLC 1 7.12% $8,202
KELLER MORTGAGE, LLC 1 6.13% $9,551
GoPrime Mortgage, Inc. 1 6.25% $13,012
Flagstar Bank, FSB 1 7.25% $10,301
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 7.13% $8,460
First Horizon Bank 1 6.63% $6,812
MLD MORTGAGE INC. 1 6.00% $6,244
FIRST ALLIANCE HOME MORTGAGE, LLC 1 6.63% $13,086

The top Johnson City FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 47 FHA loans originated. Their average total fees are $10,975, which is $1,920 higher than the next largest lender, MOVEMENT MORTGAGE, LLC.

The lowest fee Johnson City FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($6,928), MORTGAGE INVESTORS GROUP, INC. ($8,406), Bank of Tennessee ($8,497), ALAMEDA MORTGAGE CORPORATION ($8,959) and MOVEMENT MORTGAGE, LLC ($9,055).

The lowest rate Johnson City FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.90%), PENNYMAC LOAN SERVICES, LLC (6.13%), MORTGAGE INVESTORS GROUP, INC. (6.32%), GVC MORTGAGE, INC. (6.32%) and QUICKEN LOANS, LLC (6.33%).

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
JOHNSON CITY, TN CARTER 2023 $472,030 $604,400 $730,525 $907,900
JOHNSON CITY, TN UNICOI 2023 $472,030 $604,400 $730,525 $907,900
JOHNSON CITY, TN WASHINGTON 2023 $472,030 $604,400 $730,525 $907,900

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 $202,500 (6.6%) $276,404 (6.1%) 0.75 775
2018-02-01 $209,900 (10.7%) $275,206 (4.2%) 0.76 740
2018-03-01 $215,000 (13.5%) $284,373 (8.4%) 0.75 752
2018-04-01 $219,925 (11.8%) $292,277 (8.9%) 0.75 747
2018-05-01 $229,900 (15.5%) $299,129 (10.4%) 0.77 753
2018-06-01 $229,900 (15.6%) $297,072 (10.7%) 0.77 818
2018-07-01 $222,443 (11.8%) $292,799 (8.8%) 0.74 840
2018-08-01 $220,925 (10.6%) $290,435 (8.7%) 0.74 855
2018-09-01 $219,900 (10.0%) $287,225 (6.8%) 0.74 894
2018-10-01 $217,250 (6.0%) $279,934 (2.0%) 0.74 895
2018-11-01 $210,000 (4.4%) $275,903 (3.3%) 0.71 902
2018-12-01 $199,900 (-2.5%) $267,680 (-2.5%) 0.69 857
2019-01-01 $199,425 (-1.5%) $267,410 (-3.3%) 0.69 792
2019-02-01 $189,925 (-9.5%) $264,487 (-3.9%) 0.64 790
2019-03-01 $204,943 (-4.7%) $282,654 (-0.6%) 0.67 709
2019-04-01 $226,750 (3.1%) $304,817 (4.3%) 0.72 620
2019-05-01 $237,375 (3.3%) $315,918 (5.6%) 0.74 635
2019-06-01 $239,900 (4.4%) $322,187 (8.5%) 0.75 630
2019-07-01 $239,924 (7.9%) $319,088 (9.0%) 0.75 656
2019-08-01 $239,791 (8.5%) $315,530 (8.6%) 0.76 668
2019-09-01 $239,627 (9.0%) $315,885 (10.0%) 0.77 674
2019-10-01 $242,218 (11.5%) $318,283 (13.7%) 0.78 673
2019-11-01 $239,900 (14.2%) $319,519 (15.8%) 0.79 643
2019-12-01 $236,450 (18.3%) $317,537 (18.6%) 0.79 590
2020-01-01 $244,375 (22.5%) $323,831 (21.1%) 0.82 535
2020-02-01 $249,900 (31.6%) $331,980 (25.5%) 0.82 493
2020-03-01 $251,724 (22.8%) $338,847 (19.9%) 0.79 456
2020-04-01 $264,450 (16.6%) $340,981 (11.9%) 0.83 412
2020-05-01 $279,700 (17.8%) $352,209 (11.5%) 0.85 384
2020-06-01 $272,000 (13.4%) $351,541 (9.1%) 0.80 354
2020-07-01 $269,800 (12.5%) $373,121 (16.9%) 0.78 341
2020-08-01 $286,000 (19.3%) $400,147 (26.8%) 0.82 327
2020-09-01 $290,250 (21.1%) $412,495 (30.6%) 0.83 316
2020-10-01 $284,950 (17.6%) $403,079 (26.6%) 0.82 332
2020-11-01 $277,425 (15.6%) $411,904 (28.9%) 0.81 295
2020-12-01 $282,425 (19.4%) $409,371 (28.9%) 0.84 282
2021-01-01 $278,700 (14.1%) $406,024 (25.4%) 0.83 232
2021-02-01 $277,225 (10.9%) $427,785 (28.9%) 0.81 175
2021-03-01 $299,900 (19.1%) $480,872 (41.9%) 0.85 158
2021-04-01 $319,675 (20.9%) $481,930 (41.3%) 0.87 166
2021-05-01 $324,950 (16.2%) $476,422 (35.3%) 0.86 177
2021-06-01 $299,900 (10.3%) $427,434 (21.6%) 0.79 204
2021-07-01 $277,450 (2.8%) $417,942 (12.0%) 0.73 206
2021-08-01 $304,925 (6.6%) $460,877 (15.2%) 0.81 250
2021-09-01 $303,675 (4.6%) $475,199 (15.2%) 0.81 247
2021-10-01 $310,000 (8.8%) $446,457 (10.8%) 0.83 285
2021-11-01 $310,000 (11.7%) $469,224 (13.9%) 0.83 236
2021-12-01 $315,000 (11.5%) $486,439 (18.8%) 0.85 194
2022-01-01 $324,900 (16.6%) $499,382 (23.0%) 0.88 145
2022-02-01 $373,675 (34.8%) $543,400 (27.0%) 0.97 121
2022-03-01 $346,175 (15.4%) $502,383 (4.5%) 0.87 143
2022-04-01 $350,000 (9.5%) $520,505 (8.0%) 0.83 153
2022-05-01 $350,000 (7.7%) $495,391 (4.0%) 0.80 190
2022-06-01 $350,000 (16.7%) $488,773 (14.4%) 0.78 216
2022-07-01 $360,000 (29.8%) $489,205 (17.1%) 0.81 271
2022-08-01 $384,250 (26.0%) $559,765 (21.5%) 0.89 277
2022-09-01 $379,450 (25.0%) $540,810 (13.8%) 0.89 281
2022-10-01 $380,000 (22.6%) $522,865 (17.1%) 0.89 318
2022-11-01 $362,450 (16.9%) $497,653 (6.1%) 0.87 330
2022-12-01 $379,950 (20.6%) $500,552 (2.9%) 0.94 289
2023-01-01 $388,675 (19.6%) $487,606 (-2.4%) 0.96 275
2023-02-01 $399,350 (6.9%) $487,990 (-10.2%) 0.96 245
2023-03-01 $412,500 (19.2%) $500,449 (-0.4%) 0.97 243
2023-04-01 $410,000 (17.1%) $491,964 (-5.5%) 0.95 264
2023-05-01 $429,900 (22.8%) $545,793 (10.2%) 0.97 250
2023-06-01 $422,473 (20.7%) $505,286 (3.4%) 0.95 260
2023-07-01 $415,000 (15.3%) $524,712 (7.3%) 0.94 257
2023-08-01 $417,439 (8.6%) $522,899 (-6.6%) 0.96 276
2023-09-01 $424,950 (12.0%) $523,783 (-3.2%) 0.99 298
2023-10-01 $394,675 (3.9%) $508,930 (-2.7%) 0.93 358
2023-11-01 $373,750 (3.1%) $481,471 (-3.3%) 0.89 389
2023-12-01 $369,650 (-2.7%) $476,072 (-4.9%) 0.90 390
2024-01-01 $367,450 (-5.5%) $481,845 (-1.2%) 0.90 359
2024-02-01 $357,450 (-10.5%) $481,962 (-1.2%) 0.86 325
2024-03-01 $376,950 (-8.6%) $496,178 (-0.9%) 0.89 342
2024-04-01 $379,430 (-7.5%) $512,653 (4.2%) 0.88 333
Johnson City's median listing price for 2024-04-01 was $379,430, a difference of $-30,570 (-7.5%) versus the prior year and $2,480 versus the prior month.

Johnson City's median listing price comes in at 88% of the national average.

Johnson City's average listing price for 2024-04-01 was $512,653, a difference of $20,689 (4.2%) versus the prior year and $16,475 versus the prior month.

For the 2024-04-01 period, Johnson City had 333 MLS listings, a difference of -9 listings (-3%) versus the prior month and 69 listings (26%) 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 94 days 2,009 sqft
2018-02-01 88 days 1,996 sqft
2018-03-01 67 days 2,000 sqft
2018-04-01 65 days 2,029 sqft
2018-05-01 61 days 2,070 sqft
2018-06-01 54 days 2,113 sqft
2018-07-01 61 days 2,125 sqft
2018-08-01 66 days 2,050 sqft
2018-09-01 65 days 2,050 sqft
2018-10-01 72 days 2,036 sqft
2018-11-01 74 days 1,933 sqft
2018-12-01 87 days 1,944 sqft
2019-01-01 93 days 1,837 sqft
2019-02-01 93 days 1,845 sqft
2019-03-01 76 days 1,966 sqft
2019-04-01 57 days 2,087 sqft
2019-05-01 51 days 2,132 sqft
2019-06-01 58 days 2,129 sqft
2019-07-01 62 days 2,130 sqft
2019-08-01 58 days 2,120 sqft
2019-09-01 60 days 2,109 sqft
2019-10-01 63 days 2,117 sqft
2019-11-01 67 days 2,149 sqft
2019-12-01 79 days 2,101 sqft
2020-01-01 93 days 2,118 sqft
2020-02-01 88 days 2,053 sqft
2020-03-01 59 days 2,028 sqft
2020-04-01 56 days 2,040 sqft
2020-05-01 65 days 2,030 sqft
2020-06-01 46 days 1,981 sqft
2020-07-01 44 days 1,971 sqft
2020-08-01 38 days 2,028 sqft
2020-09-01 40 days 2,034 sqft
2020-10-01 41 days 2,026 sqft
2020-11-01 45 days 2,050 sqft
2020-12-01 51 days 1,996 sqft
2021-01-01 58 days 1,946 sqft
2021-02-01 44 days 1,927 sqft
2021-03-01 31 days 2,106 sqft
2021-04-01 27 days 2,151 sqft
2021-05-01 19 days 2,138 sqft
2021-06-01 23 days 2,013 sqft
2021-07-01 24 days 1,872 sqft
2021-08-01 25 days 1,936 sqft
2021-09-01 30 days 1,942 sqft
2021-10-01 30 days 1,846 sqft
2021-11-01 45 days 1,819 sqft
2021-12-01 56 days 1,872 sqft
2022-01-01 60 days 1,800 sqft
2022-02-01 34 days 1,909 sqft
2022-03-01 24 days 1,858 sqft
2022-04-01 22 days 1,880 sqft
2022-05-01 23 days 1,912 sqft
2022-06-01 27 days 1,866 sqft
2022-07-01 24 days 1,921 sqft
2022-08-01 36 days 1,972 sqft
2022-09-01 40 days 1,972 sqft
2022-10-01 47 days 1,975 sqft
2022-11-01 46 days 1,963 sqft
2022-12-01 58 days 2,001 sqft
2023-01-01 69 days 1,944 sqft
2023-02-01 63 days 2,000 sqft
2023-03-01 45 days 2,058 sqft
2023-04-01 36 days 2,029 sqft
2023-05-01 37 days 2,011 sqft
2023-06-01 36 days 1,950 sqft
2023-07-01 36 days 1,928 sqft
2023-08-01 34 days 1,910 sqft
2023-09-01 39 days 2,027 sqft
2023-10-01 43 days 1,896 sqft
2023-11-01 45 days 1,811 sqft
2023-12-01 54 days 1,806 sqft
2024-01-01 68 days 1,802 sqft
2024-02-01 67 days 1,796 sqft
2024-03-01 56 days 1,808 sqft
2024-04-01 47 days 1,841 sqft
Johnson City's median listing age (time on market) for 2024-04-01 was 47 days. This is 32% longer than the same period one year ago.

Johnson City's median square footage for active listings during the 2024-04-01 period was 1,841 sqft. One year prior, the average listing was 2,029 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).