Kingsport FHA Loans

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 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).