Knoxville FHA Loan Rates, Closing Costs & Stats

KNOXVILLE, TN

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.

Knoxville's 158 lenders originated 2,594 FHA loans during 2023. The total origination value was $742,690,000, with an average FHA loan value of $286,311.

Knoxville FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Knoxville averaged 6.6% for the week of 2024-06-14, compared to the national average (all FHA variants) of 6.712% for the same period.

Knoxville's average FHA mortgage closing costs are $7,864.

The average rate for the prior week (2024-06-07) was 6.49% and one month ago for the week of 2024-05-10, the average rate was 6.88%.

The average rate one year ago was 6.43%.

For refis of the same type during the week of 2024-06-14, the average rate was 6.72%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Knoxville 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 Knoxville level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
MORTGAGE INVESTORS GROUP, INC. 385 6.51% $10,342
QUICKEN LOANS, LLC 271 6.25% $11,371
UNITED WHOLESALE MORTGAGE, LLC 187 6.31% $13,107
FIRST COMMUNITY MORTGAGE, INC. 122 6.32% $10,723
CARDINAL FINANCIAL 109 6.65% $12,934
DHI MORTGAGE COMPANY, LTD. 89 6.59% $8,734
MOVEMENT MORTGAGE, LLC 78 6.71% $12,616
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 66 6.61% $9,846
FREEDOM MORTGAGE CORPORATION 54 6.95% $13,105
LOANDEPOT.COM, LLC 47 6.32% $11,841
STOCKTON MORTGAGE CORPORATION 42 6.68% $12,529
PENNYMAC LOAN SERVICES, LLC 41 6.12% $14,039
CMG MORTGAGE, INC. 36 6.62% $12,165
Mr. Cooper ( Nationstar Mortgage ) 31 6.18% $16,343
CROSSCOUNTRY MORTGAGE, LLC 28 6.63% $12,235
NFM, INC. 26 6.31% $9,485
AMERISAVE MORTGAGE CORPORATION 26 6.20% $14,697
EVERETT FINANCIAL, INC. 23 6.77% $13,028
MUTUAL OF OMAHA MORTGAGE, INC. 22 6.35% $12,511
Regions Bank 22 5.95% $10,492
AMERICAN FINANCIAL RESOURCES, INC. 21 6.35% $10,978
Gateway First Bank 21 7.08% $10,020
FirstBank 20 6.19% $10,948
NEWREZ LLC 20 6.49% $10,921
UNION HOME MORTGAGE CORP. 19 6.76% $10,572
Carrington Mortgage Services, LLC 19 6.32% $12,535
BROKER SOLUTIONS, INC. 19 6.68% $11,051
AMERICAN PACIFIC MORTGAGE CORPORATION 17 6.63% $11,489
ARK-LA-TEX FINANCIAL SERVICES, LLC. 17 6.65% $11,567
AMERICAN FINANCIAL NETWORK, INC. 17 7.07% $11,791
RELIANCE FIRST CAPITAL, LLC 16 6.99% $11,569
LAKEVIEW LOAN SERVICING, LLC 16 6.34% $10,716
TOWNE MORTGAGE COMPANY 15 6.56% $11,826
Equity Prime Mortgage LLC 15 6.77% $11,391
MID AMERICA MORTGAGE, INC. 15 7.44% $8,468
Truist 14 6.42% $9,053
Sierra Pacific Mortgage Company, Inc. 13 6.45% $12,886
Waterstone Mortgage Corporation 12 6.49% $13,622
SUN WEST MORTGAGE COMPANY, INC. 12 6.01% $12,131
Northpointe Bank 12 5.97% $10,025
ISERVE RESIDENTIAL LENDING, LLC 11 6.81% $17,199
U.S. Bank 10 6.59% $7,426
AMCAP MORTGAGE, LTD. 10 6.83% $11,198
Wolfe Financial, Inc 9 7.14% $13,106
MILEND, INC. 9 6.42% $15,708
NexBank 9 6.22% $11,418
Nations Lending Corporation 9 6.74% $14,269
Pinnacle Bank 8 6.06% $10,941
PLANET HOME LENDING, LLC 8 5.63% $8,881
HOMESIDE FINANCIAL, LLC 8 7.19% $11,905
SUCCESS MORTGAGE PARTNERS, INC. 7 5.91% $9,818
COMPASS MORTGAGE, INC. 7 6.86% $12,100
Century Mortgage Company DBA Century Lending Company 7 6.39% $14,268
Flagstar Bank, FSB 7 6.76% $11,799
BAY EQUITY LLC 7 5.95% $9,363
THRIVE MORTGAGE, LLC 7 6.55% $13,431
TJC Mortgage, Inc. 7 6.04% $14,245
AmeriHome Mortgage Company, LLC 6 6.46% $10,927
VANDERBILT MORTGAGE AND FINANCE, INC. 6 6.33% $15,387
CHURCHILL MORTGAGE CORPORATION 6 6.33% $11,307
ENDEAVOR CAPITAL, LLC. 6 6.85% $11,611
SmartBank 5 6.38% $8,860
United Community Bank 5 6.53% $9,526
Citizens Bank 5 5.95% $10,518
ZILLOW HOME LOANS, LLC 4 7.09% $9,809
Countybank 4 6.81% $8,402
NORTHERN MORTGAGE SERVICES, LLC 4 6.97% $7,342
Plains Commerce Bank 4 6.40% $10,702
T2 FINANCIAL LLC 4 6.59% $14,854
The Federal Savings Bank 4 6.31% $20,646
VILLAGE CAPITAL MORTGAGE 4 6.41% $5,325
ALAMEDA MORTGAGE CORPORATION 3 6.67% $10,657
MORTGAGE SOLUTIONS OF COLORADO, LLC 3 6.46% $11,211
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 3 6.83% $14,918
SUMMIT FUNDING, INC. 3 6.96% $13,748
VERITAS FUNDING, LLC 3 6.21% $17,538
TOP FLITE FINANCIAL, INC. 3 6.96% $14,659
Princeton Mortgage Corporation 3 6.38% $12,264
MICHIGAN MUTUAL, INC. 3 6.63% $10,659
ACADEMY MORTGAGE CORPORATION 3 6.92% $13,940
SWBC MORTGAGE CORPORATION 3 6.33% $9,826
First Horizon Bank 3 6.38% $12,825
AMERICAN FINANCING CORPORATION 3 6.16% $8,244
LOANPAL, LLC 2 6.19% $15,328
EMM LOANS LLC 2 5.81% $16,001
PENTAGON FEDERAL CREDIT UNION 2 6.50% $9,704
MEMBER FIRST MORTGAGE, LLC 2 6.63% $9,911
Franklin Loan Corporation 2 6.31% $19,227
LADERA LENDING, INC. 2 6.56% $13,174
SOUTHWEST STAGE FUNDING, LLC 2 6.81% $10,212
SOVEREIGN LENDING GROUP INCORPORATED 2 6.19% $16,372
LEADERONE FINANCIAL CORPORATION 2 6.50% $8,225
NATIONS DIRECT MORTGAGE, LLC 2 6.00% $21,971
GVC MORTGAGE, INC. 2 6.69% $13,266
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 7.00% $10,214
Prosperity Home Mortgage, LLC 2 6.81% $11,617
The Loan Store, Inc. 2 7.19% $13,249
GUILD MORTGAGE COMPANY 2 5.50% $8,805
GUARANTEED RATE, INC. 2 6.94% $9,885
FirstTrust Home Loans, Inc. 2 6.31% $8,890
Mortgage Research Center, LLC 2 7.19% $14,611
Renasant Bank 2 6.63% $7,162
GSF Mortgage Corporation 2 5.88% $10,414
SOUTHPOINT FINANCIAL SERVICES, INC. 1 6.75% $12,150
CORNERSTONE HOME LENDING, INC. 1 7.63% $19,312
CALIBER HOME LOANS, INC. 1 7.25% $10,618
BETTER MORTGAGE CORPORATION 1 6.13% $5,241
WesBanco 1 5.75% $10,606
The Central Trust Bank 1 5.49% $13,491
ABSOLUTE HOME MORTGAGE CORPORATION 1 7.63% $12,387
The Huntington National Bank 1 7.50% $5,366
Bank of England 1 6.75% $12,625
Armed Forces Bank 1 5.75% $9,357
Ameris Bank 1 6.75% $12,050
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 6.75% $12,864
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.00% $12,586
American Mortgage & Equity Consultants, Inc. 1 6.75% $15,004
United Fidelity Funding Corp. 1 8.25% $24,808
LEGEND LENDING CORPORATION 1 5.63% $27,524
AHL FUNDING 1 7.13% $8,733
VAN DYK MORTGAGE CORPORATION 1 7.13% $11,023
1ST SIGNATURE LENDING, LLC 1 7.13% $15,545
V.I.P. MORTGAGE, INC. 1 6.00% $13,575
HOMESTEAD FUNDING CORP. 1 5.63% $11,021
Kwik Mortgage Corporation 1 7.00% $15,623
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.88% $15,113
US MORTGAGE CORPORATION 1 5.75% $10,628
Loan Simple, Inc. 1 5.75% $18,529
Magnolia Bank 1 6.25% $9,437
Mid-Continent Funding, Inc. 1 5.75% $13,458
Goldwater Bank, N.A. 1 7.75% $9,246
M&T Bank 1 6.75% $8,593
Florida Capital Bank 1 6.13% $9,495
NATIONWIDE MORTGAGE BANKERS, INC. 1 6.75% $10,691
NBKC BANK 1 7.00% $11,984
NETWORK CAPITAL FUNDING CORPORATION 1 5.63% $8,792
FLAT BRANCH MORTGAGE, INC. 1 6.75% $12,198
First Option Mortgage, LLC 1 7.63% $12,711
NORWICH COMMERCIAL GROUP, INC. 1 7.63% $9,107
Paramount Residential Mortgage Group, Inc. 1 7.88% $15,479
First Federal Bank 1 5.63% $10,436
PHH Mortgage Corporation 1 6.50% $7,488
FIRST COLONY MORTGAGE CORPORATION 1 6.25% $7,190
Wells Fargo Bank 1 7.63% $7,532
First-Citizens Bank & Trust Company 1 6.88% $10,774
POLARIS HOME FUNDING CORP. 1 6.63% $10,347
Preston Home Loans Inc 1 7.25% $17,365
FIRST ALLIANCE HOME MORTGAGE, LLC 1 7.50% $17,100
RADIUS FINANCIAL GROUP INC. 1 7.25% $12,269
RANLIFE, INC. 1 5.99% $12,470
Fifth Third Bank 1 7.00% $8,213
FAIRWAY FUNDING GROUP, INC. 1 7.25% $9,689
RESIDENTIAL BANCORP 1 8.25% $12,616
Residential Mortgage Solutions, Inc. 1 6.75% $14,184
SECURITYNATIONAL MORTGAGE COMPANY 1 5.75% $14,746
Shamrock Home Loans, Inc. 1 6.75% $9,902
Simmons Bank 1 6.13% $10,081
EMBRACE HOME LOANS, INC. 1 6.49% $11,317

The top Knoxville FHA lender as defined by loan originations is MORTGAGE INVESTORS GROUP, INC., with 385 FHA loans originated. Their average total fees are $10,342, which is $1,029 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Knoxville FHA lenders (with over 10 loans originated) are U.S. Bank ($7,426), MID AMERICA MORTGAGE, INC. ($8,468), DHI MORTGAGE COMPANY, LTD. ($8,734), Truist ($9,053) and NFM, INC. ($9,485).

The lowest rate Knoxville FHA lenders (with over 10 loans originated) are Regions Bank (5.95%), Northpointe Bank (5.97%), SUN WEST MORTGAGE COMPANY, INC. (6.01%), PENNYMAC LOAN SERVICES, LLC (6.12%) and Mr. Cooper ( Nationstar Mortgage ) (6.18%).

Knoxville FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
KNOXVILLE, TN ANDERSON 2022 $420,680 $538,650 $651,050 $809,150
KNOXVILLE, TN BLOUNT 2022 $420,680 $538,650 $651,050 $809,150
KNOXVILLE, TN CAMPBELL 2022 $420,680 $538,650 $651,050 $809,150
KNOXVILLE, TN KNOX 2022 $420,680 $538,650 $651,050 $809,150
KNOXVILLE, TN LOUDON 2022 $420,680 $538,650 $651,050 $809,150
KNOXVILLE, TN MORGAN 2022 $420,680 $538,650 $651,050 $809,150
KNOXVILLE, TN ROANE 2022 $420,680 $538,650 $651,050 $809,150
KNOXVILLE, TN UNION 2022 $420,680 $538,650 $651,050 $809,150
KNOXVILLE, TN ANDERSON 2023 $472,030 $604,400 $730,525 $907,900
KNOXVILLE, TN BLOUNT 2023 $472,030 $604,400 $730,525 $907,900
KNOXVILLE, TN CAMPBELL 2023 $472,030 $604,400 $730,525 $907,900
KNOXVILLE, TN KNOX 2023 $472,030 $604,400 $730,525 $907,900
KNOXVILLE, TN LOUDON 2023 $472,030 $604,400 $730,525 $907,900
KNOXVILLE, TN MORGAN 2023 $472,030 $604,400 $730,525 $907,900
KNOXVILLE, TN ROANE 2023 $472,030 $604,400 $730,525 $907,900
KNOXVILLE, TN UNION 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Knoxville (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 $250,710 (14.0%) $347,981 (10.1%) 0.93 3,368
2018-02-01 $254,130 (11.0%) $353,616 (9.6%) 0.92 3,181
2018-03-01 $265,000 (12.4%) $374,873 (13.4%) 0.93 3,145
2018-04-01 $275,450 (10.2%) $383,394 (10.7%) 0.93 3,191
2018-05-01 $279,900 (12.0%) $391,135 (12.2%) 0.93 3,258
2018-06-01 $279,900 (12.0%) $391,548 (13.0%) 0.93 3,361
2018-07-01 $274,900 (10.0%) $386,225 (11.6%) 0.92 3,569
2018-08-01 $269,900 (8.0%) $379,696 (5.1%) 0.90 3,622
2018-09-01 $267,700 (5.0%) $377,145 (4.0%) 0.90 3,658
2018-10-01 $262,450 (5.0%) $376,717 (7.0%) 0.89 3,666
2018-11-01 $264,675 (3.7%) $382,763 (9.6%) 0.90 3,505
2018-12-01 $260,000 (4.0%) $376,296 (8.5%) 0.90 3,273
2019-01-01 $267,000 (6.5%) $377,704 (8.5%) 0.92 2,978
2019-02-01 $269,675 (6.1%) $381,865 (8.0%) 0.91 2,895
2019-03-01 $278,500 (5.1%) $385,815 (2.9%) 0.91 2,877
2019-04-01 $292,450 (6.2%) $391,332 (2.1%) 0.93 2,863
2019-05-01 $299,338 (6.9%) $396,624 (1.4%) 0.94 2,890
2019-06-01 $299,900 (7.2%) $398,428 (1.8%) 0.94 2,970
2019-07-01 $299,900 (9.1%) $405,134 (4.9%) 0.94 2,962
2019-08-01 $295,809 (9.6%) $403,170 (6.2%) 0.94 2,992
2019-09-01 $289,673 (8.2%) $396,205 (5.1%) 0.93 3,019
2019-10-01 $285,000 (8.6%) $391,063 (3.8%) 0.92 3,016
2019-11-01 $285,000 (7.7%) $398,829 (4.2%) 0.93 2,903
2019-12-01 $283,325 (9.0%) $397,309 (5.6%) 0.94 2,679
2020-01-01 $280,774 (5.2%) $405,506 (7.4%) 0.94 2,428
2020-02-01 $287,000 (6.4%) $413,781 (8.4%) 0.94 2,275
2020-03-01 $302,450 (8.6%) $424,088 (9.9%) 0.95 2,139
2020-04-01 $299,950 (2.6%) $413,846 (5.8%) 0.94 2,257
2020-05-01 $311,750 (4.2%) $429,515 (8.3%) 0.95 2,142
2020-06-01 $324,975 (8.4%) $445,896 (11.9%) 0.96 1,915
2020-07-01 $329,900 (10.0%) $453,820 (12.0%) 0.96 1,706
2020-08-01 $329,950 (11.5%) $445,692 (10.6%) 0.95 1,595
2020-09-01 $322,450 (11.3%) $441,555 (11.5%) 0.92 1,462
2020-10-01 $319,900 (12.3%) $441,092 (12.8%) 0.92 1,469
2020-11-01 $310,000 (8.8%) $442,136 (10.9%) 0.91 1,494
2020-12-01 $301,974 (6.6%) $435,600 (9.6%) 0.90 1,308
2021-01-01 $312,423 (11.3%) $447,938 (10.5%) 0.93 1,107
2021-02-01 $310,000 (8.0%) $460,937 (11.4%) 0.90 836
2021-03-01 $307,495 (1.7%) $469,664 (10.8%) 0.87 719
2021-04-01 $327,450 (9.2%) $484,829 (17.2%) 0.89 655
2021-05-01 $335,000 (7.5%) $479,752 (11.7%) 0.89 743
2021-06-01 $340,675 (4.8%) $479,017 (7.4%) 0.90 884
2021-07-01 $325,000 (-1.5%) $460,289 (1.4%) 0.86 1,009
2021-08-01 $329,950 (0.0%) $479,951 (7.7%) 0.88 1,121
2021-09-01 $328,725 (2.0%) $484,328 (9.7%) 0.88 1,114
2021-10-01 $325,000 (1.6%) $488,442 (10.7%) 0.87 1,127
2021-11-01 $332,450 (7.2%) $507,093 (14.7%) 0.89 1,004
2021-12-01 $339,675 (12.5%) $516,086 (18.5%) 0.92 836
2022-01-01 $350,000 (12.0%) $542,330 (21.1%) 0.95 692
2022-02-01 $375,000 (21.0%) $553,780 (20.1%) 0.98 590
2022-03-01 $367,725 (19.6%) $544,670 (16.0%) 0.92 666
2022-04-01 $389,000 (18.8%) $548,033 (13.0%) 0.93 753
2022-05-01 $399,950 (19.4%) $567,467 (18.3%) 0.91 1,006
2022-06-01 $400,000 (17.4%) $549,180 (14.7%) 0.89 1,287
2022-07-01 $415,000 (27.7%) $541,012 (17.5%) 0.93 1,537
2022-08-01 $413,725 (25.4%) $546,739 (13.9%) 0.96 1,604
2022-09-01 $423,675 (28.9%) $555,996 (14.8%) 0.99 1,657
2022-10-01 $425,000 (30.8%) $548,086 (12.2%) 1.00 1,749
2022-11-01 $425,000 (27.8%) $546,698 (7.8%) 1.02 1,789
2022-12-01 $429,900 (26.6%) $553,001 (7.2%) 1.06 1,534
2023-01-01 $440,088 (25.7%) $556,593 (2.6%) 1.09 1,368
2023-02-01 $457,116 (21.9%) $571,793 (3.3%) 1.10 1,184
2023-03-01 $469,625 (27.7%) $583,758 (7.2%) 1.11 1,132
2023-04-01 $480,000 (23.4%) $613,870 (12.0%) 1.12 1,074
2023-05-01 $484,925 (21.3%) $641,597 (13.1%) 1.10 1,115
2023-06-01 $475,000 (18.8%) $657,687 (19.8%) 1.07 1,236
2023-07-01 $475,000 (14.5%) $660,471 (22.1%) 1.08 1,384
2023-08-01 $481,225 (16.3%) $672,121 (22.9%) 1.11 1,486
2023-09-01 $475,000 (12.1%) $672,754 (21.0%) 1.11 1,608
2023-10-01 $474,002 (11.5%) $644,660 (17.6%) 1.12 1,854
2023-11-01 $462,338 (8.8%) $637,975 (16.7%) 1.10 1,957
2023-12-01 $459,900 (7.0%) $623,601 (12.8%) 1.12 1,947
2024-01-01 $457,725 (4.0%) $630,485 (13.3%) 1.12 1,797
2024-02-01 $457,450 (0.1%) $642,767 (12.4%) 1.10 1,636
2024-03-01 $450,000 (-4.2%) $641,744 (9.9%) 1.06 1,652
2024-04-01 $462,975 (-3.6%) $659,604 (7.5%) 1.08 1,728
2024-05-01 $492,500 (1.6%) $686,688 (7.0%) 1.11 1,889
Knoxville's median listing price for 2024-05-01 was $492,500, a difference of $7,575 (1.6%) versus the prior year and $29,525 versus the prior month.

Knoxville's median listing price comes in at 111% of the national average.

Knoxville's average listing price for 2024-05-01 was $686,688, a difference of $45,091 (7.0%) versus the prior year and $27,084 versus the prior month.

For the 2024-05-01 period, Knoxville had 1,889 MLS listings, a difference of 161 listings (9%) versus the prior month and 774 listings (69%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Knoxville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 86 days 2,202 sqft
2018-02-01 82 days 2,207 sqft
2018-03-01 66 days 2,272 sqft
2018-04-01 56 days 2,307 sqft
2018-05-01 53 days 2,330 sqft
2018-06-01 55 days 2,321 sqft
2018-07-01 57 days 2,320 sqft
2018-08-01 59 days 2,289 sqft
2018-09-01 63 days 2,269 sqft
2018-10-01 67 days 2,272 sqft
2018-11-01 71 days 2,282 sqft
2018-12-01 78 days 2,241 sqft
2019-01-01 85 days 2,231 sqft
2019-02-01 78 days 2,220 sqft
2019-03-01 66 days 2,264 sqft
2019-04-01 57 days 2,332 sqft
2019-05-01 54 days 2,367 sqft
2019-06-01 57 days 2,388 sqft
2019-07-01 59 days 2,400 sqft
2019-08-01 59 days 2,368 sqft
2019-09-01 60 days 2,320 sqft
2019-10-01 61 days 2,289 sqft
2019-11-01 64 days 2,250 sqft
2019-12-01 74 days 2,223 sqft
2020-01-01 84 days 2,201 sqft
2020-02-01 75 days 2,220 sqft
2020-03-01 58 days 2,269 sqft
2020-04-01 56 days 2,291 sqft
2020-05-01 60 days 2,300 sqft
2020-06-01 58 days 2,309 sqft
2020-07-01 54 days 2,329 sqft
2020-08-01 50 days 2,261 sqft
2020-09-01 50 days 2,225 sqft
2020-10-01 46 days 2,200 sqft
2020-11-01 47 days 2,134 sqft
2020-12-01 55 days 2,081 sqft
2021-01-01 68 days 2,086 sqft
2021-02-01 75 days 2,061 sqft
2021-03-01 46 days 2,003 sqft
2021-04-01 42 days 2,056 sqft
2021-05-01 32 days 2,056 sqft
2021-06-01 32 days 2,083 sqft
2021-07-01 35 days 2,007 sqft
2021-08-01 35 days 2,004 sqft
2021-09-01 39 days 1,994 sqft
2021-10-01 39 days 1,985 sqft
2021-11-01 42 days 1,984 sqft
2021-12-01 46 days 1,978 sqft
2022-01-01 49 days 2,000 sqft
2022-02-01 36 days 2,011 sqft
2022-03-01 27 days 1,983 sqft
2022-04-01 25 days 2,031 sqft
2022-05-01 25 days 2,070 sqft
2022-06-01 28 days 2,117 sqft
2022-07-01 32 days 2,148 sqft
2022-08-01 37 days 2,105 sqft
2022-09-01 41 days 2,127 sqft
2022-10-01 43 days 2,157 sqft
2022-11-01 48 days 2,178 sqft
2022-12-01 59 days 2,182 sqft
2023-01-01 67 days 2,208 sqft
2023-02-01 53 days 2,243 sqft
2023-03-01 45 days 2,230 sqft
2023-04-01 39 days 2,221 sqft
2023-05-01 36 days 2,250 sqft
2023-06-01 36 days 2,237 sqft
2023-07-01 35 days 2,228 sqft
2023-08-01 40 days 2,232 sqft
2023-09-01 42 days 2,200 sqft
2023-10-01 40 days 2,216 sqft
2023-11-01 44 days 2,202 sqft
2023-12-01 54 days 2,169 sqft
2024-01-01 67 days 2,149 sqft
2024-02-01 64 days 2,118 sqft
2024-03-01 47 days 2,083 sqft
2024-04-01 43 days 2,108 sqft
2024-05-01 38 days 2,173 sqft
Knoxville's median listing age (time on market) for 2024-05-01 was 38 days. This is 6% longer than the same period one year ago.

Knoxville's median square footage for active listings during the 2024-05-01 period was 2,173 sqft. One year prior, the average listing was 2,250 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).