Kingsport FHA Loans

KINGSPORT-BRISTOL, TN-VA

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.

Kingsport's 88 lenders originated 1,153 FHA loans during 2021. The total origination value was $179,405,000, with an average FHA loan value of $155,598.

Kingsport FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Kingsport averaged 5.37% 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 5.37% and one month ago for the week of 2022-04-15, the average rate was 5.16%.

The average rate one year ago was 3.63%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.12%.

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

Kingsport 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 Kingsport level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 164 2.73% $5,537
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 110 3.44% $7,023
MORTGAGE INVESTORS GROUP, INC. 54 3.07% $6,394
MOVEMENT MORTGAGE, LLC 39 3.16% $5,707
ARK-LA-TEX FINANCIAL SERVICES, LLC. 37 3.57% $5,567
PENNYMAC LOAN SERVICES, LLC 34 3.26% $3,627
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 34 3.10% $5,680
HANCOCK MORTGAGE PARTNERS, LLC 32 3.20% $7,044
FREEDOM MORTGAGE CORPORATION 32 2.90% $4,205
Sierra Pacific Mortgage Company, Inc. 27 3.07% $7,421
UNITED WHOLESALE MORTGAGE, LLC 27 2.65% $6,218
LAKEVIEW LOAN SERVICING, LLC 25 2.95% $4,538
LOANDEPOT.COM, LLC 24 3.24% $7,057
AMERICAN FINANCIAL NETWORK, INC. 21 3.28% $10,100
STOCKTON MORTGAGE CORPORATION 21 3.40% $6,734
Mr. Cooper ( Nationstar Mortgage ) 21 3.32% $3,525
GUARANTEED RATE, INC. 19 2.95% $7,172
Atlantic Union Bank 15 3.20% $6,589
DHI MORTGAGE COMPANY, LTD. 14 2.77% $6,730
CROSSCOUNTRY MORTGAGE, LLC 13 3.08% $8,198
Carrington Mortgage Services, LLC 11 3.36% $7,473
CALIBER HOME LOANS, INC. 11 2.70% $5,068
VILLAGE CAPITAL & INVESTMENT LLC 11 3.18% $1,928
CMG MORTGAGE, INC. 10 3.33% $6,453
Bank of Tennessee 9 2.92% $5,861
Nations Lending Corporation 8 3.30% $8,986
PLANET HOME LENDING, LLC 8 3.28% $6,840
Truist Bank 8 2.88% $6,350
AMERICAN FINANCIAL RESOURCES, INC. 8 3.36% $7,522
AMERISAVE MORTGAGE CORPORATION 7 3.23% $6,550
AmeriHome Mortgage Company, LLC 7 2.77% $4,629
Citizens Bank 6 2.65% $6,631
NEWREZ LLC 6 2.89% $3,788
VANDERBILT MORTGAGE AND FINANCE, INC. 6 3.35% $7,682
ISERVE RESIDENTIAL LENDING, LLC 6 3.02% $10,142
Regions Bank 5 2.80% $6,023
BROKER SOLUTIONS, INC. 5 3.35% $6,021
PRIMARY RESIDENTIAL MORTGAGE, INC. 5 3.18% $7,776
FIRST COMMUNITY MORTGAGE, INC. 5 3.30% $7,741
SECURITYNATIONAL MORTGAGE COMPANY 5 3.53% $6,079
Renasant Bank 5 2.85% $5,602
INTERLINC MORTGAGE SERVICES, LLC 4 3.41% $4,021
SUCCESS MORTGAGE PARTNERS, INC. 4 3.19% $6,891
HOMEBRIDGE FINANCIAL SERVICES, INC. 4 2.50% $5,370
MUTUAL OF OMAHA MORTGAGE, INC. 3 3.08% $5,506
BAYSHORE MORTGAGE FUNDING, LLC 3 3.25% $7,736
Equity Prime Mortgage LLC 3 2.96% $6,569
RELIANCE FIRST CAPITAL, LLC 3 3.42% $8,843
HOME POINT FINANCIAL CORPORATION 2 3.44% $8,782
ZILLOW HOME LOANS, LLC 2 2.94% $6,331
TOWNE MORTGAGE COMPANY 2 3.31% $5,933
ACADEMY MORTGAGE CORPORATION 2 3.31% $8,890
FLAT BRANCH MORTGAGE, INC. 2 3.00% $9,869
EASTMAN 2 3.56% $6,699
Barrington Bank & Trust Company, N.A. 2 3.38% $6,938
U.S. Bank 2 2.94% $5,195
Peoples Bank 2 3.44% $7,830
SOUTHWEST STAGE FUNDING, LLC 1 3.75% $2,242
ACOPIA, LLC 1 4.25% $8,784
AMERICAN MORTGAGE SERVICE COMPANY 1 2.25% $7,597
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 3.25% $9,060
AMERICAN PACIFIC MORTGAGE CORPORATION 1 2.63% $8,560
A Mortgage Boutique, LLC 1 2.50% $6,110
Bank of America 1 2.88% $9,914
BLUELEAF LENDING, LLC 1 2.75% $6,031
CELEBRITY HOME LOANS, LLC 1 2.75% $7,017
CityWorth Mortgage LLC 1 3.25% $5,308
EMBRACE HOME LOANS, INC. 1 2.25% $8,185
ENDEAVOR CAPITAL, LLC. 1 2.75% $1,243
FINANCE OF AMERICA MORTGAGE LLC 1 3.50% $5,016
Flagstar Bank, FSB 1 2.75% $7,391
Franklin Loan Corporation 1 3.13% $6,844
HAMILTON HOME LOANS, INC. 1 3.25% $7,522
InterContinental Capital Group, Inc 1 3.00% $5,881
LEADERONE FINANCIAL CORPORATION 1 4.25% $6,373
Loan Simple, Inc. 1 3.88% $6,166
Mortgage Research Center, LLC 1 2.99% $4,805
OCMBC, INC. 1 3.75% $3,882
Paramount Residential Mortgage Group, Inc. 1 2.75% $5,243
Plains Commerce Bank 1 3.13% $8,333
Princeton Mortgage Corporation 1 4.25% $7,135
RANLIFE, INC. 1 4.25% $4,447
RAPID MORTGAGE COMPANY 1 3.50% $8,377
ROYAL UNITED MORTGAGE LLC 1 3.38% $4,681
SOUTHWEST FUNDING, LP 1 4.25% $6,291
1ST SIGNATURE LENDING, LLC 1 3.63% $5,319
SUMMIT FUNDING, INC. 1 3.25% $13,143
Wolfe Financial, Inc 1 2.75% $7,874

The top Kingsport FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 164 FHA loans originated. Their average total fees are $5,537, which is $1,486 lower than the next largest lender, CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP.

The lowest fee Kingsport FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($1,928), Mr. Cooper ( Nationstar Mortgage ) ($3,525), PENNYMAC LOAN SERVICES, LLC ($3,627), FREEDOM MORTGAGE CORPORATION ($4,205) and LAKEVIEW LOAN SERVICING, LLC ($4,538).

The lowest rate Kingsport FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (2.65%), CALIBER HOME LOANS, INC. (2.70%), QUICKEN LOANS, LLC (2.73%), DHI MORTGAGE COMPANY, LTD. (2.77%) and FREEDOM MORTGAGE CORPORATION (2.90%).

Kingsport FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
KINGSPORT-BRISTOL, TN-VA HAWKINS 2022 $420,680 $538,650 $651,050 $809,150
KINGSPORT-BRISTOL, TN-VA SULLIVAN 2022 $420,680 $538,650 $651,050 $809,150
KINGSPORT-BRISTOL, TN-VA SCOTT 2022 $420,680 $538,650 $651,050 $809,150
KINGSPORT-BRISTOL, TN-VA WASHINGTON 2022 $420,680 $538,650 $651,050 $809,150
KINGSPORT-BRISTOL, TN-VA BRISTOL CITY 2022 $420,680 $538,650 $651,050 $809,150

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Kingsport (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 $166,750 (11.2%) $259,244 (16.1%) 0.61 1,616
2018-02-01 $159,900 (3.2%) $255,267 (10.8%) 0.58 1,595
2018-03-01 $164,900 (-0.9%) $246,627 (-2.0%) 0.57 1,540
2018-04-01 $174,994 (3.0%) $259,614 (1.6%) 0.59 1,555
2018-05-01 $178,450 (5.0%) $261,096 (2.1%) 0.60 1,636
2018-06-01 $179,900 (5.9%) $260,183 (1.3%) 0.60 1,766
2018-07-01 $177,450 (4.4%) $253,726 (-2.7%) 0.59 1,836
2018-08-01 $174,994 (-2.3%) $252,236 (-6.1%) 0.58 1,845
2018-09-01 $175,000 (0.0%) $251,794 (-4.8%) 0.59 1,850
2018-10-01 $177,200 (2.7%) $256,878 (-2.1%) 0.59 1,877
2018-11-01 $174,450 (1.8%) $260,182 (-1.3%) 0.58 1,844
2018-12-01 $169,000 (1.1%) $260,042 (1.0%) 0.58 1,706
2019-01-01 $167,000 (0.2%) $245,881 (-5.2%) 0.58 1,570
2019-02-01 $165,000 (3.2%) $245,932 (-3.7%) 0.55 1,521
2019-03-01 $177,643 (7.7%) $263,040 (6.7%) 0.58 1,406
2019-04-01 $194,700 (11.3%) $285,207 (9.9%) 0.61 1,280
2019-05-01 $204,000 (14.3%) $289,318 (10.8%) 0.63 1,307
2019-06-01 $209,900 (16.7%) $295,996 (13.8%) 0.65 1,377
2019-07-01 $214,900 (21.1%) $297,297 (17.2%) 0.67 1,405
2019-08-01 $212,814 (21.6%) $298,742 (18.4%) 0.67 1,397
2019-09-01 $204,950 (17.1%) $298,950 (18.7%) 0.65 1,393
2019-10-01 $202,450 (14.3%) $293,072 (14.1%) 0.65 1,441
2019-11-01 $185,000 (6.1%) $269,091 (3.4%) 0.60 1,697
2019-12-01 $198,250 (17.3%) $288,108 (10.8%) 0.66 1,327
2020-01-01 $199,000 (19.2%) $290,186 (18.0%) 0.66 1,225
2020-02-01 $200,000 (21.2%) $297,585 (21.0%) 0.65 1,077
2020-03-01 $219,900 (23.8%) $311,610 (18.5%) 0.69 988
2020-04-01 $218,900 (12.4%) $311,997 (9.4%) 0.68 955
2020-05-01 $225,000 (10.3%) $322,721 (11.6%) 0.68 841
2020-06-01 $232,585 (10.8%) $331,945 (12.2%) 0.68 809
2020-07-01 $239,950 (11.7%) $339,281 (14.1%) 0.69 744
2020-08-01 $239,900 (12.7%) $339,208 (13.6%) 0.69 705
2020-09-01 $225,000 (9.8%) $328,829 (10.0%) 0.64 695
2020-10-01 $215,000 (6.2%) $317,228 (8.2%) 0.61 672
2020-11-01 $213,500 (15.4%) $332,265 (23.5%) 0.61 627
2020-12-01 $209,900 (5.9%) $346,471 (20.3%) 0.62 575
2021-01-01 $200,000 (0.5%) $361,768 (24.7%) 0.59 506
2021-02-01 $215,000 (7.5%) $379,727 (27.6%) 0.62 394
2021-03-01 $226,943 (3.2%) $411,618 (32.1%) 0.64 362
2021-04-01 $245,000 (11.9%) $410,796 (31.7%) 0.66 341
2021-05-01 $259,900 (15.5%) $421,813 (30.7%) 0.68 351
2021-06-01 $259,943 (11.8%) $388,897 (17.2%) 0.68 438
2021-07-01 $249,993 (4.2%) $385,499 (13.6%) 0.65 457
2021-08-01 $247,450 (3.2%) $395,192 (16.5%) 0.65 497
2021-09-01 $249,450 (10.9%) $443,405 (34.8%) 0.66 490
2021-10-01 $269,900 (25.5%) $439,943 (38.7%) 0.71 467
2021-11-01 $250,500 (17.3%) $416,383 (25.3%) 0.66 437
2021-12-01 $249,950 (19.1%) $438,175 (26.5%) 0.67 376
2022-01-01 $249,900 (25.0%) $481,166 (33.0%) 0.67 291
2022-02-01 $264,500 (23.0%) $510,470 (34.4%) 0.67 256
2022-03-01 $277,000 (22.1%) $511,338 (24.2%) 0.68 244
2022-04-01 $289,000 (18.0%) $510,307 (24.2%) 0.68 257
Kingsport's median listing price for 2022-04-01 was $289,000, a difference of $44,000 (18.0%) versus the prior year and $12,000 versus the prior month.

Kingsport's median listing price comes in at 68% of the national average.

Kingsport's average listing price for 2022-04-01 was $510,307, a difference of $99,511 (24.2%) versus the prior year and $-1,031 versus the prior month.

For the 2022-04-01 period, Kingsport had 257 MLS listings, a difference of 13 listings (5%) versus the prior month and -84 listings (-25%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Kingsport (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 115 days 1,887 sqft
2018-02-01 114 days 1,831 sqft
2018-03-01 115 days 1,820 sqft
2018-04-01 92 days 1,866 sqft
2018-05-01 82 days 1,926 sqft
2018-06-01 77 days 1,979 sqft
2018-07-01 73 days 1,996 sqft
2018-08-01 79 days 1,987 sqft
2018-09-01 85 days 1,998 sqft
2018-10-01 92 days 1,988 sqft
2018-11-01 99 days 1,914 sqft
2018-12-01 113 days 1,942 sqft
2019-01-01 120 days 1,787 sqft
2019-02-01 122 days 1,808 sqft
2019-03-01 106 days 1,918 sqft
2019-04-01 76 days 2,059 sqft
2019-05-01 67 days 2,084 sqft
2019-06-01 70 days 2,089 sqft
2019-07-01 73 days 2,124 sqft
2019-08-01 79 days 2,122 sqft
2019-09-01 79 days 2,086 sqft
2019-10-01 76 days 2,047 sqft
2019-11-01 78 days 2,000 sqft
2019-12-01 91 days 2,076 sqft
2020-01-01 104 days 2,085 sqft
2020-02-01 109 days 2,002 sqft
2020-03-01 97 days 2,046 sqft
2020-04-01 79 days 2,016 sqft
2020-05-01 83 days 2,044 sqft
2020-06-01 85 days 2,021 sqft
2020-07-01 68 days 2,040 sqft
2020-08-01 63 days 2,074 sqft
2020-09-01 52 days 2,005 sqft
2020-10-01 53 days 1,965 sqft
2020-11-01 53 days 1,946 sqft
2020-12-01 58 days 1,985 sqft
2021-01-01 72 days 1,945 sqft
2021-02-01 79 days 1,945 sqft
2021-03-01 62 days 1,960 sqft
2021-04-01 41 days 1,883 sqft
2021-05-01 34 days 1,904 sqft
2021-06-01 31 days 1,919 sqft
2021-07-01 36 days 1,902 sqft
2021-08-01 34 days 1,903 sqft
2021-09-01 41 days 1,902 sqft
2021-10-01 44 days 2,049 sqft
2021-11-01 51 days 1,856 sqft
2021-12-01 52 days 1,793 sqft
2022-01-01 57 days 1,802 sqft
2022-02-01 45 days 1,842 sqft
2022-03-01 36 days 1,887 sqft
2022-04-01 24 days 1,815 sqft
Kingsport's median listing age (time on market) for 2022-04-01 was 24 days. This is -41% shorter than the same period one year ago.

Kingsport's median square footage for active listings during the 2022-04-01 period was 1,815 sqft. One year prior, the average listing was 1,883 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).