Kingsport FHA Loan Rates, Closing Costs & Stats

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 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).