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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.