Kingsport FHA Loan Rates, Closing Costs & Stats

KINGSPORT-BRISTOL, TN-VA

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    • 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 100 lenders originated 831 FHA loans during 2022. The total origination value was $149,865,000, with an average FHA loan value of $180,343.

    Kingsport FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Kingsport averaged -0.14% for the week of 2023-11-24, compared to the national average (all FHA variants) of 0% for the same period.

    Kingsport's average FHA mortgage closing costs are $6,377.

    The average rate for the prior week (2023-11-17) was 6.75% and one month ago for the week of 2023-10-20, the average rate was 7.16%.

    The average rate one year ago was 6.38%.

    For refis of the same type during the week of 2023-11-24, the average rate was -1.01%.

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

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    QUICKEN LOANS, LLC 134 4.72% $8,142
    CARDINAL FINANCIAL 66 5.29% $9,003
    UNITED WHOLESALE MORTGAGE, LLC 44 4.43% $8,930
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 35 5.43% $6,605
    MORTGAGE INVESTORS GROUP, INC. 31 4.83% $8,285
    MOVEMENT MORTGAGE, LLC 30 5.21% $8,787
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 29 4.89% $6,673
    HANCOCK MORTGAGE PARTNERS, LLC 28 5.70% $10,226
    LOANDEPOT.COM, LLC 24 5.03% $8,534
    STOCKTON MORTGAGE CORPORATION 22 5.15% $7,188
    EVERETT FINANCIAL, INC. 15 5.29% $5,364
    Sierra Pacific Mortgage Company, Inc. 15 5.11% $10,387
    FREEDOM MORTGAGE CORPORATION 13 4.55% $8,127
    PENNYMAC LOAN SERVICES, LLC 13 4.69% $10,617
    BROKER SOLUTIONS, INC. 11 5.04% $9,008
    CALIBER HOME LOANS, INC. 10 5.14% $9,054
    CROSSCOUNTRY MORTGAGE, LLC 10 5.95% $9,343
    DHI MORTGAGE COMPANY, LTD. 10 4.21% $8,776
    LAKEVIEW LOAN SERVICING, LLC 10 4.53% $8,238
    AMERISAVE MORTGAGE CORPORATION 9 4.99% $11,231
    GUARANTEED RATE, INC. 9 4.83% $8,176
    SUCCESS MORTGAGE PARTNERS, INC. 8 4.92% $10,572
    HOME POINT FINANCIAL CORPORATION 7 5.46% $8,210
    Mr. Cooper ( Nationstar Mortgage ) 7 5.18% $10,487
    AMERICAN FINANCING CORPORATION 6 4.67% $6,805
    Nations Lending Corporation 6 5.92% $9,702
    MUTUAL OF OMAHA MORTGAGE, INC. 6 4.52% $8,888
    Carrington Mortgage Services, LLC 6 5.27% $8,905
    CMG MORTGAGE, INC. 5 5.20% $9,072
    NEWREZ LLC 5 5.03% $6,772
    Gateway First Bank 4 5.38% $6,799
    Mortgage Research Center, LLC 4 4.47% $4,925
    Equity Prime Mortgage LLC 4 5.06% $10,137
    PLANET HOME LENDING, LLC 4 5.25% $10,404
    PRIMARY RESIDENTIAL MORTGAGE, INC. 4 4.06% $8,316
    UNION HOME MORTGAGE CORP. 4 6.19% $10,539
    VANDERBILT MORTGAGE AND FINANCE, INC. 4 4.88% $11,096
    Wells Fargo Bank 4 5.31% $7,433
    Atlantic Union Bank 4 5.13% $8,339
    CORNERSTONE HOME LENDING, INC. 4 4.63% $6,646
    ZILLOW HOME LOANS, LLC 3 5.75% $8,253
    Bank of Tennessee 3 5.00% $6,427
    FIRST COMMUNITY MORTGAGE, INC. 3 5.46% $4,819
    VILLAGE CAPITAL MORTGAGE 3 4.13% $5,944
    MORIA DEVELOPMENT, INC. 2 5.56% $9,968
    Renasant Bank 2 4.31% $8,583
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 5.37% $7,799
    Barrington Bank & Trust Company, N.A. 2 4.44% $7,440
    RELIANCE FIRST CAPITAL, LLC 2 4.50% $14,240
    Citizens Bank 2 4.69% $7,427
    BETTER MORTGAGE CORPORATION 2 5.13% $5,436
    GUILD MORTGAGE COMPANY 2 4.50% $10,180
    Truist 2 4.53% $8,361
    JLB CORPORATION 2 4.38% $8,534
    TOP FLITE FINANCIAL, INC. 2 5.25% $11,293
    HOMESIDE FINANCIAL, LLC 2 5.81% $10,286
    The Huntington National Bank 2 3.44% $7,538
    M&T Bank 1 3.13% $8,795
    AMERIFIRST FINANCIAL CORPORATION 1 5.88% $13,809
    Amerifirst Financial, Inc. 1 3.88% $9,481
    AmeriHome Mortgage Company, LLC 1 7.13% $7,525
    CAPITAL CENTER, L.L.C. 1 3.13% $4,463
    Century Mortgage Company DBA Century Lending Company 1 5.25% $5,940
    CHERRY CREEK MORTGAGE, LLC 1 6.13% $3,369
    CHURCHILL MORTGAGE CORPORATION 1 5.75% $12,074
    CityWorth Mortgage LLC 1 5.63% $8,225
    CRESCENT MORTGAGE COMPANY 1 5.00% $6,258
    EMBRACE HOME LOANS, INC. 1 3.88% $11,182
    FINANCE OF AMERICA MORTGAGE LLC 1 3.75% $5,434
    FirstBank 1 5.25% $5,381
    First Horizon Bank 1 4.25% $13,127
    Flagstar Bank, FSB 1 6.75% $7,327
    GENEVA FINANCIAL, LLC 1 4.75% $7,593
    HOMESTAR FINANCIAL CORPORATION 1 4.13% $2,223
    Hometown Lenders, Inc. 1 4.38% $6,899
    Integrity Home Mortgage Corp 1 4.25% $11,153
    INTERLINC MORTGAGE SERVICES, LLC 1 4.25% $3,963
    LAND HOME FINANCIAL SERVICES, INC. 1 5.50% $7,187
    LIBERTY HOME MORTGAGE CORPORATION 1 5.25% $10,095
    Loan Simple, Inc. 1 3.38% $7,622
    MID AMERICA MORTGAGE, INC. 1 5.88% $6,778
    MILEND, INC. 1 3.25% $13,710
    ML Mortgage Corp. 1 5.25% $6,462
    AMERICAN FINANCIAL RESOURCES, INC. 1 5.25% $12,042
    NATIONS DIRECT MORTGAGE, LLC 1 7.13% $6,465
    NBKC BANK 1 4.75% $12,082
    NETWORK CAPITAL FUNDING CORPORATION 1 6.25% $8,648
    NFM, INC. 1 6.63% $7,394
    Paramount Residential Mortgage Group, Inc. 1 5.13% $11,225
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.75% $10,168
    Regions Bank 1 7.25% $6,111
    SECURITYNATIONAL MORTGAGE COMPANY 1 5.13% $11,201
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 3.25% $14,375
    STEARNS LENDING, LLC 1 3.63% $6,741
    The Home Loan Expert LLC 1 5.75% $7,812
    TOWNE MORTGAGE COMPANY 1 4.63% $4,641
    United Fidelity Funding Corp. 1 5.75% $11,411
    VERITAS FUNDING, LLC 1 4.75% $6,045
    Victorian Finance, LLC 1 3.38% $5,497
    Wyndham Capital Mortgage, Inc. 1 6.13% $8,635

    The top Kingsport FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 134 FHA loans originated. Their average total fees are $8,142, which is $861 lower than the next largest lender, CARDINAL FINANCIAL.

    The lowest fee Kingsport FHA lenders (with over 10 loans originated) are EVERETT FINANCIAL, INC. ($5,364), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($6,605), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($6,673), STOCKTON MORTGAGE CORPORATION ($7,188) and FREEDOM MORTGAGE CORPORATION ($8,127).

    The lowest rate Kingsport FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (4.21%), UNITED WHOLESALE MORTGAGE, LLC (4.43%), LAKEVIEW LOAN SERVICING, LLC (4.53%), FREEDOM MORTGAGE CORPORATION (4.55%) and PENNYMAC LOAN SERVICES, LLC (4.69%).

    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
    KINGSPORT-BRISTOL, TN-VA HAWKINS 2023 $472,030 $604,400 $730,525 $907,900
    KINGSPORT-BRISTOL, TN-VA SULLIVAN 2023 $472,030 $604,400 $730,525 $907,900
    KINGSPORT-BRISTOL, TN-VA SCOTT 2023 $472,030 $604,400 $730,525 $907,900
    KINGSPORT-BRISTOL, TN-VA WASHINGTON 2023 $472,030 $604,400 $730,525 $907,900
    KINGSPORT-BRISTOL, TN-VA BRISTOL CITY 2023 $472,030 $604,400 $730,525 $907,900

    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 $160,450 (7.0%) $248,291 (13.5%) 0.59 1,414
    2018-02-01 $159,788 (5.5%) $246,098 (9.1%) 0.58 1,402
    2018-03-01 $159,925 (0.0%) $236,393 (-3.0%) 0.56 1,344
    2018-04-01 $169,250 (1.1%) $246,825 (-0.3%) 0.57 1,359
    2018-05-01 $169,700 (1.6%) $247,286 (-0.4%) 0.57 1,436
    2018-06-01 $169,900 (3.0%) $243,259 (-1.6%) 0.57 1,545
    2018-07-01 $169,900 (3.0%) $241,264 (-3.7%) 0.57 1,606
    2018-08-01 $169,900 (0.3%) $240,654 (-4.9%) 0.57 1,626
    2018-09-01 $169,900 (1.6%) $239,169 (-4.4%) 0.57 1,644
    2018-10-01 $169,800 (3.1%) $242,396 (-2.5%) 0.58 1,666
    2018-11-01 $168,500 (1.8%) $244,673 (-2.0%) 0.57 1,644
    2018-12-01 $159,900 (-0.1%) $236,415 (-4.3%) 0.55 1,528
    2019-01-01 $159,700 (-0.5%) $225,649 (-9.1%) 0.55 1,405
    2019-02-01 $159,200 (-0.4%) $226,652 (-7.9%) 0.54 1,346
    2019-03-01 $171,114 (7.0%) $245,365 (3.8%) 0.56 1,234
    2019-04-01 $188,350 (11.3%) $268,388 (8.7%) 0.60 1,122
    2019-05-01 $191,950 (13.1%) $272,592 (10.2%) 0.60 1,157
    2019-06-01 $199,900 (17.7%) $277,353 (14.0%) 0.62 1,198
    2019-07-01 $199,950 (17.7%) $277,702 (15.1%) 0.63 1,229
    2019-08-01 $199,973 (17.7%) $279,219 (16.0%) 0.63 1,238
    2019-09-01 $199,932 (17.7%) $280,137 (17.1%) 0.64 1,247
    2019-10-01 $199,450 (17.5%) $278,450 (14.9%) 0.64 1,258
    2019-11-01 $189,900 (12.7%) $269,810 (10.3%) 0.62 1,264
    2019-12-01 $190,448 (19.1%) $271,909 (15.0%) 0.64 1,178
    2020-01-01 $190,448 (19.3%) $272,784 (20.9%) 0.64 1,093
    2020-02-01 $198,250 (24.5%) $277,908 (22.6%) 0.65 967
    2020-03-01 $211,249 (23.5%) $292,592 (19.3%) 0.66 882
    2020-04-01 $211,483 (12.3%) $293,384 (9.3%) 0.66 857
    2020-05-01 $219,575 (14.4%) $301,503 (10.6%) 0.67 751
    2020-06-01 $224,475 (12.3%) $311,853 (12.4%) 0.66 699
    2020-07-01 $234,925 (17.5%) $317,326 (14.3%) 0.68 653
    2020-08-01 $230,000 (15.0%) $315,846 (13.1%) 0.66 625
    2020-09-01 $222,400 (11.2%) $307,183 (9.7%) 0.64 619
    2020-10-01 $209,943 (5.3%) $306,467 (10.1%) 0.60 599
    2020-11-01 $209,700 (10.4%) $314,738 (16.7%) 0.61 557
    2020-12-01 $199,950 (5.0%) $323,770 (19.1%) 0.60 497
    2021-01-01 $199,900 (5.0%) $335,251 (22.9%) 0.60 437
    2021-02-01 $200,000 (0.9%) $353,373 (27.2%) 0.58 335
    2021-03-01 $206,225 (-2.4%) $366,895 (25.4%) 0.59 312
    2021-04-01 $231,175 (9.3%) $374,812 (27.8%) 0.63 298
    2021-05-01 $249,900 (13.8%) $392,965 (30.3%) 0.66 305
    2021-06-01 $243,550 (8.5%) $353,416 (13.3%) 0.64 381
    2021-07-01 $239,900 (2.1%) $353,754 (11.5%) 0.63 405
    2021-08-01 $229,656 (-0.2%) $363,283 (15.0%) 0.61 438
    2021-09-01 $234,950 (5.6%) $405,972 (32.2%) 0.63 444
    2021-10-01 $259,900 (23.8%) $414,916 (35.4%) 0.69 404
    2021-11-01 $243,675 (16.2%) $384,676 (22.2%) 0.65 371
    2021-12-01 $249,900 (25.0%) $409,459 (26.5%) 0.68 323
    2022-01-01 $249,800 (25.0%) $440,932 (31.5%) 0.68 256
    2022-02-01 $254,950 (27.5%) $468,657 (32.6%) 0.66 221
    2022-03-01 $269,000 (30.4%) $475,810 (29.7%) 0.67 214
    2022-04-01 $282,450 (22.2%) $482,424 (28.7%) 0.67 226
    2022-05-01 $290,798 (16.4%) $463,487 (18.0%) 0.66 289
    2022-06-01 $277,450 (13.9%) $398,035 (12.6%) 0.62 343
    2022-07-01 $289,900 (20.8%) $417,923 (18.1%) 0.65 400
    2022-08-01 $287,450 (25.2%) $422,136 (16.2%) 0.66 426
    2022-09-01 $292,978 (24.7%) $421,425 (3.8%) 0.68 428
    2022-10-01 $289,900 (11.5%) $430,221 (3.7%) 0.68 438
    2022-11-01 $294,350 (20.8%) $415,994 (8.1%) 0.71 453
    2022-12-01 $300,000 (20.1%) $423,817 (3.5%) 0.74 442
    2023-01-01 $320,000 (28.1%) $429,311 (-2.6%) 0.79 403
    2023-02-01 $323,069 (26.7%) $435,747 (-7.0%) 0.78 382
    2023-03-01 $320,000 (19.0%) $429,468 (-9.7%) 0.75 375
    2023-04-01 $319,992 (13.3%) $427,470 (-11.4%) 0.74 363
    2023-05-01 $328,693 (13.0%) $417,401 (-9.9%) 0.74 373
    2023-06-01 $342,000 (23.3%) $429,726 (8.0%) 0.77 384
    2023-07-01 $345,000 (19.0%) $446,323 (6.8%) 0.78 406
    2023-08-01 $329,675 (14.7%) $436,826 (3.5%) 0.76 462
    2023-09-01 $325,000 (10.9%) $429,117 (1.8%) 0.76 528
    2023-10-01 $322,500 (11.3%) $437,119 (1.6%) 0.76 578
    Kingsport's median listing price for 2023-10-01 was $322,500, a difference of $32,600 (11.3%) versus the prior year and $-2,500 versus the prior month.

    Kingsport's median listing price comes in at 76% of the national average.

    Kingsport's average listing price for 2023-10-01 was $437,119, a difference of $6,898 (1.6%) versus the prior year and $8,002 versus the prior month.

    For the 2023-10-01 period, Kingsport had 578 MLS listings, a difference of 50 listings (9%) versus the prior month and 140 listings (32%) 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
    2018-01-01 101 days 1,839 sqft
    2018-02-01 102 days 1,800 sqft
    2018-03-01 100 days 1,800 sqft
    2018-04-01 77 days 1,830 sqft
    2018-05-01 70 days 1,853 sqft
    2018-06-01 65 days 1,872 sqft
    2018-07-01 66 days 1,935 sqft
    2018-08-01 69 days 1,936 sqft
    2018-09-01 75 days 1,963 sqft
    2018-10-01 83 days 1,940 sqft
    2018-11-01 88 days 1,883 sqft
    2018-12-01 100 days 1,890 sqft
    2019-01-01 109 days 1,745 sqft
    2019-02-01 110 days 1,778 sqft
    2019-03-01 90 days 1,870 sqft
    2019-04-01 65 days 1,981 sqft
    2019-05-01 57 days 2,002 sqft
    2019-06-01 61 days 2,012 sqft
    2019-07-01 68 days 2,032 sqft
    2019-08-01 70 days 2,062 sqft
    2019-09-01 68 days 2,036 sqft
    2019-10-01 67 days 2,004 sqft
    2019-11-01 74 days 1,995 sqft
    2019-12-01 87 days 2,049 sqft
    2020-01-01 100 days 2,041 sqft
    2020-02-01 102 days 1,950 sqft
    2020-03-01 81 days 2,003 sqft
    2020-04-01 71 days 1,992 sqft
    2020-05-01 76 days 2,006 sqft
    2020-06-01 74 days 1,999 sqft
    2020-07-01 57 days 1,993 sqft
    2020-08-01 50 days 2,027 sqft
    2020-09-01 45 days 1,958 sqft
    2020-10-01 45 days 1,917 sqft
    2020-11-01 46 days 1,908 sqft
    2020-12-01 55 days 1,924 sqft
    2021-01-01 68 days 1,877 sqft
    2021-02-01 73 days 1,877 sqft
    2021-03-01 47 days 1,870 sqft
    2021-04-01 34 days 1,803 sqft
    2021-05-01 29 days 1,846 sqft
    2021-06-01 26 days 1,850 sqft
    2021-07-01 30 days 1,850 sqft
    2021-08-01 32 days 1,837 sqft
    2021-09-01 38 days 1,879 sqft
    2021-10-01 40 days 2,052 sqft
    2021-11-01 48 days 1,852 sqft
    2021-12-01 45 days 1,788 sqft
    2022-01-01 52 days 1,807 sqft
    2022-02-01 37 days 1,770 sqft
    2022-03-01 27 days 1,810 sqft
    2022-04-01 18 days 1,802 sqft
    2022-05-01 21 days 1,836 sqft
    2022-06-01 24 days 1,788 sqft
    2022-07-01 30 days 1,890 sqft
    2022-08-01 34 days 1,923 sqft
    2022-09-01 39 days 1,871 sqft
    2022-10-01 47 days 1,869 sqft
    2022-11-01 46 days 1,885 sqft
    2022-12-01 57 days 1,869 sqft
    2023-01-01 66 days 1,905 sqft
    2023-02-01 61 days 1,945 sqft
    2023-03-01 53 days 1,951 sqft
    2023-04-01 40 days 1,928 sqft
    2023-05-01 37 days 2,014 sqft
    2023-06-01 39 days 1,990 sqft
    2023-07-01 39 days 1,926 sqft
    2023-08-01 36 days 1,924 sqft
    2023-09-01 37 days 1,910 sqft
    2023-10-01 42 days 1,927 sqft
    Kingsport's median listing age (time on market) for 2023-10-01 was 42 days. This is -10% shorter than the same period one year ago.

    Kingsport's median square footage for active listings during the 2023-10-01 period was 1,927 sqft. One year prior, the average listing was 1,869 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).