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 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 6.78% for the week of 2022-12-02, compared to the national average (all FHA variants) of 6.466% for the same period.

    Kingsport's average FHA mortgage closing costs are $5,926.

    The average rate for the prior week (2022-11-25) was 6.8% and one month ago for the week of 2022-10-28, the average rate was 7.04%.

    The average rate one year ago was 3.77%.

    For refis of the same type during the week of 2022-12-02, the average rate was 6.34%.

    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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    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 MORTGAGE 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 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 MORTGAGE ($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 $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%) $243,099 (-1.7%) 0.57 1,547
    2018-07-01 $169,900 (3.0%) $241,112 (-3.8%) 0.57 1,608
    2018-08-01 $169,900 (0.3%) $240,504 (-5.0%) 0.57 1,628
    2018-09-01 $169,900 (1.4%) $239,023 (-4.5%) 0.57 1,646
    2018-10-01 $169,700 (3.0%) $242,248 (-2.6%) 0.57 1,668
    2018-11-01 $168,500 (1.8%) $244,522 (-2.0%) 0.57 1,646
    2018-12-01 $159,900 (-0.1%) $236,263 (-4.4%) 0.55 1,530
    2019-01-01 $159,375 (-0.7%) $225,544 (-9.2%) 0.55 1,407
    2019-02-01 $159,000 (-0.5%) $226,492 (-8.0%) 0.54 1,348
    2019-03-01 $170,679 (6.7%) $245,180 (3.7%) 0.56 1,236
    2019-04-01 $187,875 (11.0%) $268,281 (8.7%) 0.60 1,124
    2019-05-01 $191,950 (13.1%) $272,477 (10.2%) 0.60 1,159
    2019-06-01 $199,900 (17.7%) $277,239 (14.0%) 0.62 1,201
    2019-07-01 $199,950 (17.7%) $277,586 (15.1%) 0.63 1,231
    2019-08-01 $199,973 (17.7%) $279,101 (16.1%) 0.63 1,240
    2019-09-01 $199,932 (17.7%) $280,018 (17.2%) 0.64 1,249
    2019-10-01 $199,450 (17.5%) $278,335 (14.9%) 0.64 1,260
    2019-11-01 $189,900 (12.7%) $269,711 (10.3%) 0.62 1,266
    2019-12-01 $190,448 (19.1%) $271,797 (15.0%) 0.64 1,180
    2020-01-01 $190,448 (19.5%) $272,664 (20.9%) 0.64 1,095
    2020-02-01 $198,250 (24.7%) $277,763 (22.6%) 0.65 969
    2020-03-01 $211,249 (23.8%) $292,398 (19.3%) 0.66 884
    2020-04-01 $211,483 (12.6%) $293,188 (9.3%) 0.66 859
    2020-05-01 $219,575 (14.4%) $301,243 (10.6%) 0.67 753
    2020-06-01 $224,475 (12.3%) $311,560 (12.4%) 0.66 701
    2020-07-01 $234,925 (17.5%) $317,000 (14.2%) 0.68 655
    2020-08-01 $230,000 (15.0%) $315,504 (13.0%) 0.66 627
    2020-09-01 $222,400 (11.2%) $306,867 (9.6%) 0.64 621
    2020-10-01 $209,943 (5.3%) $306,132 (10.0%) 0.60 601
    2020-11-01 $209,700 (10.4%) $314,362 (16.6%) 0.61 559
    2020-12-01 $199,950 (5.0%) $323,327 (19.0%) 0.59 499
    2021-01-01 $199,900 (5.0%) $334,680 (22.7%) 0.60 439
    2021-02-01 $200,000 (0.9%) $352,546 (26.9%) 0.58 337
    2021-03-01 $206,225 (-2.4%) $365,981 (25.2%) 0.59 314
    2021-04-01 $231,175 (9.3%) $373,752 (27.5%) 0.63 300
    2021-05-01 $249,900 (13.8%) $391,818 (30.1%) 0.66 307
    2021-06-01 $243,575 (8.5%) $352,967 (13.3%) 0.64 383
    2021-07-01 $239,900 (2.1%) $353,581 (11.5%) 0.63 406
    2021-08-01 $230,263 (0.1%) $363,026 (15.1%) 0.61 439
    2021-09-01 $234,950 (5.6%) $405,699 (32.2%) 0.63 445
    2021-10-01 $259,900 (23.8%) $413,925 (35.2%) 0.69 406
    2021-11-01 $243,675 (16.2%) $383,771 (22.1%) 0.65 373
    2021-12-01 $249,900 (25.0%) $408,288 (26.3%) 0.68 325
    2022-01-01 $249,800 (25.0%) $439,246 (31.2%) 0.68 258
    2022-02-01 $254,950 (27.5%) $466,419 (32.3%) 0.66 223
    2022-03-01 $269,000 (30.4%) $473,514 (29.4%) 0.67 216
    2022-04-01 $279,993 (21.1%) $480,346 (28.5%) 0.67 228
    2022-05-01 $289,974 (16.0%) $461,902 (17.9%) 0.66 291
    2022-06-01 $276,475 (13.5%) $396,990 (12.5%) 0.62 345
    2022-07-01 $288,450 (20.2%) $416,884 (17.9%) 0.65 402
    2022-08-01 $287,000 (24.6%) $421,586 (16.1%) 0.66 428
    2022-09-01 $290,000 (23.4%) $421,024 (3.8%) 0.68 430
    2022-10-01 $289,900 (11.5%) $429,213 (3.7%) 0.68 440
    2022-11-01 $292,675 (20.1%) $415,175 (8.2%) 0.70 456
    Kingsport's median listing price for 2022-11-01 was $292,675, a difference of $49,000 (20.1%) versus the prior year and $2,775 versus the prior month.

    Kingsport's median listing price comes in at 70% of the national average.

    Kingsport's average listing price for 2022-11-01 was $415,175, a difference of $31,404 (8.2%) versus the prior year and $-14,038 versus the prior month.

    For the 2022-11-01 period, Kingsport had 456 MLS listings, a difference of 16 listings (4%) versus the prior month and 83 listings (22%) 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
    2018-01-01 112 days 1,839 sqft
    2018-02-01 113 days 1,800 sqft
    2018-03-01 115 days 1,800 sqft
    2018-04-01 91 days 1,831 sqft
    2018-05-01 83 days 1,854 sqft
    2018-06-01 78 days 1,872 sqft
    2018-07-01 73 days 1,935 sqft
    2018-08-01 79 days 1,931 sqft
    2018-09-01 82 days 1,961 sqft
    2018-10-01 91 days 1,938 sqft
    2018-11-01 99 days 1,882 sqft
    2018-12-01 113 days 1,883 sqft
    2019-01-01 120 days 1,742 sqft
    2019-02-01 124 days 1,772 sqft
    2019-03-01 102 days 1,870 sqft
    2019-04-01 72 days 1,981 sqft
    2019-05-01 63 days 2,002 sqft
    2019-06-01 67 days 2,014 sqft
    2019-07-01 74 days 2,032 sqft
    2019-08-01 75 days 2,062 sqft
    2019-09-01 75 days 2,036 sqft
    2019-10-01 75 days 2,004 sqft
    2019-11-01 80 days 1,995 sqft
    2019-12-01 91 days 2,049 sqft
    2020-01-01 105 days 2,041 sqft
    2020-02-01 109 days 1,950 sqft
    2020-03-01 96 days 2,003 sqft
    2020-04-01 80 days 1,992 sqft
    2020-05-01 85 days 2,006 sqft
    2020-06-01 84 days 1,999 sqft
    2020-07-01 65 days 1,993 sqft
    2020-08-01 58 days 2,027 sqft
    2020-09-01 52 days 1,958 sqft
    2020-10-01 52 days 1,917 sqft
    2020-11-01 52 days 1,908 sqft
    2020-12-01 59 days 1,924 sqft
    2021-01-01 74 days 1,877 sqft
    2021-02-01 80 days 1,875 sqft
    2021-03-01 54 days 1,870 sqft
    2021-04-01 38 days 1,803 sqft
    2021-05-01 30 days 1,846 sqft
    2021-06-01 27 days 1,850 sqft
    2021-07-01 30 days 1,851 sqft
    2021-08-01 33 days 1,839 sqft
    2021-09-01 39 days 1,881 sqft
    2021-10-01 43 days 2,052 sqft
    2021-11-01 50 days 1,852 sqft
    2021-12-01 48 days 1,788 sqft
    2022-01-01 54 days 1,807 sqft
    2022-02-01 40 days 1,770 sqft
    2022-03-01 30 days 1,810 sqft
    2022-04-01 20 days 1,802 sqft
    2022-05-01 23 days 1,836 sqft
    2022-06-01 25 days 1,788 sqft
    2022-07-01 31 days 1,890 sqft
    2022-08-01 35 days 1,911 sqft
    2022-09-01 40 days 1,876 sqft
    2022-10-01 49 days 1,870 sqft
    2022-11-01 48 days 1,885 sqft
    Kingsport's median listing age (time on market) for 2022-11-01 was 48 days. This is -4% shorter than the same period one year ago.

    Kingsport's median square footage for active listings during the 2022-11-01 period was 1,885 sqft. One year prior, the average listing was 1,852 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).