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 169 lenders originated 2,928 FHA loans during 2022. The total origination value was $781,450,000, with an average FHA loan value of $266,889.

Knoxville FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Knoxville averaged 6.4% for the week of 2024-02-16, compared to the national average (all FHA variants) of 6.611% for the same period.

Knoxville's average FHA mortgage closing costs are $7,319.

The average rate for the prior week (2024-02-09) was 5.9% and one month ago for the week of 2024-01-12, the average rate was 6.25%.

The average rate one year ago was 5.69%.

For refis of the same type during the week of 2024-02-16, the average rate was 5.13%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
MORTGAGE INVESTORS GROUP, INC. 435 4.88% $9,022
QUICKEN LOANS, LLC 249 4.59% $10,045
CARDINAL FINANCIAL 162 5.11% $11,654
MOVEMENT MORTGAGE, LLC 133 5.11% $9,874
FIRST COMMUNITY MORTGAGE, INC. 106 4.68% $9,654
LOANDEPOT.COM, LLC 94 4.98% $9,739
DHI MORTGAGE COMPANY, LTD. 83 4.46% $9,067
PENNYMAC LOAN SERVICES, LLC 75 4.32% $10,791
UNITED WHOLESALE MORTGAGE, LLC 70 4.89% $10,753
FREEDOM MORTGAGE CORPORATION 59 5.18% $10,228
Mr. Cooper ( Nationstar Mortgage ) 44 4.78% $11,346
CMG MORTGAGE, INC. 44 5.28% $9,995
CALIBER HOME LOANS, INC. 43 4.53% $10,218
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 42 5.31% $9,265
BROKER SOLUTIONS, INC. 34 5.10% $10,881
STOCKTON MORTGAGE CORPORATION 31 4.65% $9,845
UNION HOME MORTGAGE CORP. 31 5.21% $10,073
AMERICAN FINANCIAL RESOURCES, INC. 30 4.71% $10,237
Carrington Mortgage Services, LLC 29 5.00% $11,491
Sierra Pacific Mortgage Company, Inc. 28 4.92% $12,083
LAKEVIEW LOAN SERVICING, LLC 28 4.37% $7,641
Gateway First Bank 27 5.16% $6,696
AMERISAVE MORTGAGE CORPORATION 26 4.40% $12,488
Princeton Mortgage Corporation 25 5.03% $10,061
Nations Lending Corporation 23 5.40% $11,426
HOME POINT FINANCIAL CORPORATION 23 4.53% $9,970
TOP FLITE FINANCIAL, INC. 22 4.91% $15,546
EVERETT FINANCIAL, INC. 22 5.22% $6,479
Equity Prime Mortgage LLC 21 5.74% $10,941
T2 FINANCIAL LLC 21 5.12% $10,119
TJC Mortgage, Inc. 19 4.97% $11,104
Hometown Lenders, Inc. 17 4.73% $9,856
Citizens Bank 15 4.64% $10,287
Wolfe Financial, Inc 15 4.97% $9,551
NEWREZ LLC 15 4.54% $8,144
VANDERBILT MORTGAGE AND FINANCE, INC. 15 4.33% $10,799
First Option Mortgage, LLC 13 4.99% $10,562
Northpointe Bank 13 4.70% $11,136
Pinnacle Bank 12 4.32% $7,538
NFM, INC. 12 6.03% $9,987
VILLAGE CAPITAL MORTGAGE 12 3.83% $6,730
Regions Bank 11 4.50% $8,909
FirstBank 11 4.91% $9,346
CROSSCOUNTRY MORTGAGE, LLC 10 5.06% $11,577
ARK-LA-TEX FINANCIAL SERVICES, LLC. 10 4.90% $9,689
AmeriHome Mortgage Company, LLC 9 4.82% $9,362
BAY EQUITY LLC 9 4.68% $11,387
Flagstar Bank, FSB 9 4.63% $9,022
MID AMERICA MORTGAGE, INC. 9 6.92% $7,866
AMCAP MORTGAGE, LTD. 8 4.95% $8,386
RELIANCE FIRST CAPITAL, LLC 8 4.66% $11,068
MUTUAL OF OMAHA MORTGAGE, INC. 7 5.04% $14,773
First Guaranty Mortgage Corporation 7 4.27% $9,413
PRIMARY RESIDENTIAL MORTGAGE, INC. 7 5.00% $8,503
PLANET HOME LENDING, LLC 7 4.20% $7,055
AMERICAN PACIFIC MORTGAGE CORPORATION 6 5.92% $11,284
GUARANTEED RATE, INC. 6 5.28% $9,035
AMERICAN MORTGAGE SERVICE COMPANY 6 4.58% $8,277
SOUTHWEST FUNDING, LP 6 6.10% $12,508
ISERVE RESIDENTIAL LENDING, LLC 6 4.00% $11,945
HOMESIDE FINANCIAL, LLC 5 4.87% $12,112
Century Mortgage Company DBA Century Lending Company 5 5.75% $8,561
NATIONS DIRECT MORTGAGE, LLC 5 3.85% $8,725
Bank of England 5 4.90% $7,913
MILEND, INC. 5 5.68% $13,056
SUMMIT FUNDING, INC. 4 4.28% $11,096
The Federal Savings Bank 4 4.09% $14,922
CHURCHILL MORTGAGE CORPORATION 4 6.03% $11,504
Renasant Bank 4 5.66% $6,765
VAN DYK MORTGAGE CORPORATION 4 4.38% $10,998
HOMESTAR FINANCIAL CORPORATION 4 5.34% $5,135
NATIONWIDE MORTGAGE BANKERS, INC. 4 5.44% $12,095
AmRes Corporation 4 5.06% $9,560
LIBERTY HOME MORTGAGE CORPORATION 4 5.81% $13,186
SUN WEST MORTGAGE COMPANY, INC. 4 5.31% $12,320
ZILLOW HOME LOANS, LLC 3 5.79% $9,619
Plains Commerce Bank 3 4.17% $12,605
Ameris Bank 3 5.08% $10,187
United Community Bank 3 5.83% $10,052
M&T Bank 3 5.04% $12,492
PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.08% $8,974
Countybank 3 6.04% $10,615
Mortgage Research Center, LLC 3 6.21% $8,800
NETWORK CAPITAL FUNDING CORPORATION 3 3.79% $15,810
HOMEBRIDGE FINANCIAL SERVICES, INC. 3 5.17% $8,843
ACADEMY MORTGAGE CORPORATION 3 5.00% $9,971
Waterstone Mortgage Corporation 3 3.71% $9,485
GUILD MORTGAGE COMPANY 3 4.58% $9,704
GENEVA FINANCIAL, LLC 2 5.44% $16,547
ARC HOME LLC 2 4.06% $10,233
Bank of America 2 2.88% $2,630
Barrington Bank & Trust Company, N.A. 2 4.88% $10,649
BAYSHORE MORTGAGE FUNDING, LLC 2 5.88% $14,664
CALCON MUTUAL MORTGAGE LLC 2 5.63% $12,819
CANOPY MORTGAGE, LLC 2 4.44% $10,304
EMBRACE HOME LOANS, INC. 2 4.06% $9,388
Fifth Third Bank 2 5.38% $7,885
First Horizon Bank 2 5.56% $8,975
Franklin Loan Corporation 2 5.56% $15,577
GSF Mortgage Corporation 2 5.31% $11,974
GUARANTY HOME MORTGAGE CORPORATION 2 5.88% $11,759
KELLER MORTGAGE, LLC 2 4.94% $10,914
LADERA LENDING, INC. 2 5.00% $13,125
LOANPAL, LLC 2 4.25% $14,257
Loan Simple, Inc. 2 6.31% $11,329
MORIA DEVELOPMENT, INC. 2 4.94% $17,882
PLAZA HOME MORTGAGE, INC. 2 5.13% $9,347
POLARIS HOME FUNDING CORP. 2 5.31% $9,925
RUOFF MORTGAGE COMPANY, INC. 2 4.75% $5,470
SECURITYNATIONAL MORTGAGE COMPANY 2 5.06% $11,533
SOVEREIGN LENDING GROUP INCORPORATED 2 4.25% $10,192
SUCCESS MORTGAGE PARTNERS, INC. 2 5.19% $13,591
SWBC MORTGAGE CORPORATION 2 4.50% $7,366
TOWNE MORTGAGE COMPANY 2 4.38% $11,143
Truist 2 4.38% $9,792
U.S. Bank 2 5.25% $9,994
VERITAS FUNDING, LLC 2 5.06% $13,780
Wells Fargo Bank 2 5.69% $6,433
MICHIGAN MUTUAL, INC. 1 5.38% $8,405
MCLEAN MORTGAGE CORPORATION 1 5.25% $9,169
UNIVERSAL MORTGAGE & FINANCE, INC. 1 4.63% $11,416
Alcova Mortgage LLC 1 6.13% $9,181
Magnolia Bank 1 4.88% $10,547
LEADERONE FINANCIAL CORPORATION 1 5.25% $9,350
JPMorgan Chase Bank 1 4.38% $9,446
JLB CORPORATION 1 3.75% $6,739
Goldwater Bank, N.A. 1 3.38% $11,495
1ST SIGNATURE LENDING, LLC 1 7.25% $12,189
F&M Bank 1 5.13% $6,717
RESIDENTIAL BANCORP 1 5.38% $9,181
Residential Mortgage Solutions, Inc. 1 4.75% $10,237
ROYAL UNITED MORTGAGE LLC 1 5.25% $8,810
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 5.25% $10,144
S1L, Inc. 1 6.75% $18,866
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 5.25% $8,159
First Savings Bank 1 2.88% $16,533
SIRVA MORTGAGE, INC. 1 5.63% $10,572
SouthPoint Bank 1 6.00% $3,771
SOUTHPOINT FINANCIAL SERVICES, INC. 1 4.13% $8,925
First Federal Bank, A FSB 1 3.88% $10,743
Wyndham Capital Mortgage, Inc. 1 6.13% $13,982
First Federal Bank 1 5.25% $9,919
AMERICAN FINANCING CORPORATION 1 3.38% $7,510
FAY SERVICING, LLC 1 5.25% $9,441
DAS Acquisition Company, LLC 1 4.75% $7,083
ALLIED MORTGAGE GROUP, INC. 1 5.13% $12,311
CRESCENT MORTGAGE COMPANY 1 3.25% $6,493
CORNERSTONE HOME LENDING, INC. 1 5.13% $6,273
THE MORTGAGE FIRM, INC. 1 5.63% $11,515
THRIVE MORTGAGE, LLC 1 3.88% $17,001
COMPASS MORTGAGE, INC. 1 5.25% $9,709
Commerce Home Mortgage, Inc. 1 4.88% $14,029
ACOPIA, LLC 1 5.75% $9,231
Willamette Valley Bank 1 4.75% $12,215
CITYWIDE HOME LOANS, LLC 1 6.00% $13,687
CASTLE & COOKE MORTGAGE, LLC 1 4.25% $12,414
CapStar Bank 1 3.13% $7,505
Neighborhood Loans, Inc. 1 7.00% $12,513
NEW DAY FINANCIAL, LLC 1 4.88% $22,433
NBKC BANK 1 4.50% $7,623
NATIONS RELIABLE LENDING, LLC 1 7.13% $13,323
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 4.50% $5,113
NP, Inc. 1 6.50% $8,940
OCMBC, INC. 1 6.75% $12,080
OPEN MORTGAGE, LLC 1 5.25% $12,070
PACIFIC RESIDENTIAL MORTGAGE, LLC 1 6.63% $12,112
Paramount Residential Mortgage Group, Inc. 1 5.25% $12,955
MORTGAGE ACCESS CORP. 1 3.75% $10,939
MIDLAND MORTGAGE CORPORATION 1 4.25% $8,194

The top Knoxville FHA lender as defined by loan originations is MORTGAGE INVESTORS GROUP, INC., with 435 FHA loans originated. Their average total fees are $9,022, which is $1,023 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Knoxville FHA lenders (with over 10 loans originated) are EVERETT FINANCIAL, INC. ($6,479), Gateway First Bank ($6,696), VILLAGE CAPITAL MORTGAGE ($6,730), Pinnacle Bank ($7,538) and LAKEVIEW LOAN SERVICING, LLC ($7,641).

The lowest rate Knoxville FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE (3.83%), PENNYMAC LOAN SERVICES, LLC (4.32%), Pinnacle Bank (4.32%), VANDERBILT MORTGAGE AND FINANCE, INC. (4.33%) and LAKEVIEW LOAN SERVICING, LLC (4.37%).

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 $249,900 (13.6%) $346,411 (10.4%) 0.93 3,472
2018-02-01 $250,000 (11.0%) $351,655 (9.7%) 0.91 3,282
2018-03-01 $264,900 (14.0%) $372,384 (13.3%) 0.93 3,244
2018-04-01 $274,900 (10.4%) $380,321 (10.5%) 0.93 3,293
2018-05-01 $279,250 (11.7%) $387,772 (12.0%) 0.93 3,372
2018-06-01 $278,200 (11.3%) $388,515 (12.8%) 0.93 3,472
2018-07-01 $270,125 (8.1%) $383,815 (11.5%) 0.90 3,676
2018-08-01 $269,900 (8.0%) $377,420 (5.1%) 0.90 3,731
2018-09-01 $265,000 (6.0%) $374,624 (3.8%) 0.89 3,777
2018-10-01 $262,094 (4.9%) $373,946 (6.7%) 0.89 3,778
2018-11-01 $260,000 (3.2%) $379,834 (9.2%) 0.88 3,609
2018-12-01 $259,975 (4.0%) $373,573 (8.1%) 0.90 3,367
2019-01-01 $263,449 (5.4%) $375,016 (8.3%) 0.91 3,053
2019-02-01 $267,225 (6.9%) $379,234 (7.8%) 0.90 2,976
2019-03-01 $278,471 (5.1%) $383,977 (3.1%) 0.91 2,954
2019-04-01 $291,950 (6.2%) $389,392 (2.4%) 0.93 2,944
2019-05-01 $296,725 (6.3%) $394,339 (1.7%) 0.93 2,973
2019-06-01 $299,200 (7.6%) $396,861 (2.2%) 0.94 3,048
2019-07-01 $299,900 (11.0%) $403,200 (5.1%) 0.94 3,036
2019-08-01 $295,809 (9.6%) $401,360 (6.3%) 0.94 3,073
2019-09-01 $289,673 (9.3%) $394,306 (5.3%) 0.93 3,108
2019-10-01 $284,900 (8.7%) $389,519 (4.2%) 0.92 3,106
2019-11-01 $284,900 (9.6%) $396,923 (4.5%) 0.93 2,990
2019-12-01 $281,641 (8.3%) $395,810 (6.0%) 0.94 2,754
2020-01-01 $279,950 (6.3%) $403,744 (7.7%) 0.94 2,493
2020-02-01 $285,000 (6.7%) $412,162 (8.7%) 0.93 2,331
2020-03-01 $299,950 (7.7%) $421,234 (9.7%) 0.94 2,200
2020-04-01 $299,950 (2.7%) $412,697 (6.0%) 0.94 2,314
2020-05-01 $310,000 (4.5%) $427,233 (8.3%) 0.94 2,197
2020-06-01 $324,900 (8.6%) $444,841 (12.1%) 0.96 1,965
2020-07-01 $329,900 (10.0%) $452,477 (12.2%) 0.96 1,752
2020-08-01 $329,999 (11.6%) $444,725 (10.8%) 0.95 1,634
2020-09-01 $322,700 (11.4%) $440,455 (11.7%) 0.92 1,498
2020-10-01 $319,900 (12.3%) $441,539 (13.4%) 0.92 1,503
2020-11-01 $310,000 (8.8%) $440,911 (11.1%) 0.91 1,538
2020-12-01 $300,000 (6.5%) $435,267 (10.0%) 0.89 1,345
2021-01-01 $312,423 (11.6%) $448,070 (11.0%) 0.93 1,135
2021-02-01 $309,900 (8.7%) $457,844 (11.1%) 0.90 858
2021-03-01 $309,945 (3.3%) $468,070 (11.1%) 0.88 744
2021-04-01 $329,450 (9.8%) $485,114 (17.6%) 0.89 680
2021-05-01 $339,376 (9.5%) $481,525 (12.7%) 0.90 770
2021-06-01 $343,600 (5.8%) $481,450 (8.2%) 0.90 912
2021-07-01 $325,000 (-1.5%) $462,115 (2.1%) 0.86 1,044
2021-08-01 $330,711 (0.2%) $480,680 (8.1%) 0.88 1,161
2021-09-01 $329,900 (2.2%) $483,941 (9.9%) 0.88 1,160
2021-10-01 $325,000 (1.6%) $487,894 (10.5%) 0.87 1,170
2021-11-01 $333,050 (7.4%) $506,418 (14.9%) 0.89 1,046
2021-12-01 $340,000 (13.3%) $515,896 (18.5%) 0.92 868
2022-01-01 $350,000 (12.0%) $538,574 (20.2%) 0.95 722
2022-02-01 $375,000 (21.0%) $551,206 (20.4%) 0.98 614
2022-03-01 $371,500 (19.9%) $544,334 (16.3%) 0.93 695
2022-04-01 $389,900 (18.4%) $548,326 (13.0%) 0.93 788
2022-05-01 $399,950 (17.9%) $566,883 (17.7%) 0.91 1,047
2022-06-01 $402,500 (17.1%) $548,187 (13.9%) 0.90 1,330
2022-07-01 $415,000 (27.7%) $539,786 (16.8%) 0.93 1,587
2022-08-01 $413,700 (25.1%) $545,115 (13.4%) 0.96 1,656
2022-09-01 $422,450 (28.1%) $554,444 (14.6%) 0.99 1,710
2022-10-01 $424,900 (30.7%) $546,876 (12.1%) 1.00 1,813
2022-11-01 $425,000 (27.6%) $544,704 (7.6%) 1.02 1,849
2022-12-01 $429,000 (26.2%) $552,392 (7.1%) 1.06 1,588
2023-01-01 $439,450 (25.6%) $553,371 (2.8%) 1.09 1,422
2023-02-01 $450,000 (20.0%) $568,005 (3.1%) 1.09 1,242
2023-03-01 $469,625 (26.4%) $580,724 (6.7%) 1.11 1,184
2023-04-01 $479,900 (23.1%) $610,199 (11.3%) 1.12 1,127
2023-05-01 $482,500 (20.6%) $636,233 (12.2%) 1.09 1,165
2023-06-01 $475,000 (18.0%) $654,542 (19.4%) 1.07 1,282
2023-07-01 $475,000 (14.5%) $657,508 (21.8%) 1.08 1,426
2023-08-01 $477,450 (15.4%) $665,429 (22.1%) 1.10 1,541
2023-09-01 $475,000 (12.4%) $668,605 (20.6%) 1.11 1,662
2023-10-01 $474,700 (11.7%) $641,888 (17.4%) 1.12 1,915
2023-11-01 $462,500 (8.8%) $636,759 (16.9%) 1.10 2,025
2023-12-01 $459,950 (7.2%) $623,545 (12.9%) 1.12 2,020
Knoxville's median listing price for 2023-12-01 was $459,950, a difference of $30,950 (7.2%) versus the prior year and $-2,550 versus the prior month.

Knoxville's median listing price comes in at 112% of the national average.

Knoxville's average listing price for 2023-12-01 was $623,545, a difference of $71,153 (12.9%) versus the prior year and $-13,214 versus the prior month.

For the 2023-12-01 period, Knoxville had 2,020 MLS listings, a difference of -5 listings (0%) versus the prior month and 432 listings (27%) 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 87 days 2,188 sqft
2018-02-01 84 days 2,188 sqft
2018-03-01 67 days 2,253 sqft
2018-04-01 56 days 2,288 sqft
2018-05-01 53 days 2,306 sqft
2018-06-01 56 days 2,302 sqft
2018-07-01 57 days 2,305 sqft
2018-08-01 59 days 2,273 sqft
2018-09-01 63 days 2,252 sqft
2018-10-01 68 days 2,254 sqft
2018-11-01 72 days 2,263 sqft
2018-12-01 79 days 2,231 sqft
2019-01-01 85 days 2,219 sqft
2019-02-01 79 days 2,206 sqft
2019-03-01 67 days 2,249 sqft
2019-04-01 57 days 2,317 sqft
2019-05-01 54 days 2,348 sqft
2019-06-01 57 days 2,375 sqft
2019-07-01 60 days 2,389 sqft
2019-08-01 59 days 2,363 sqft
2019-09-01 60 days 2,308 sqft
2019-10-01 61 days 2,275 sqft
2019-11-01 64 days 2,236 sqft
2019-12-01 75 days 2,211 sqft
2020-01-01 85 days 2,200 sqft
2020-02-01 78 days 2,200 sqft
2020-03-01 58 days 2,245 sqft
2020-04-01 56 days 2,268 sqft
2020-05-01 60 days 2,286 sqft
2020-06-01 58 days 2,302 sqft
2020-07-01 55 days 2,318 sqft
2020-08-01 51 days 2,250 sqft
2020-09-01 50 days 2,225 sqft
2020-10-01 46 days 2,199 sqft
2020-11-01 47 days 2,126 sqft
2020-12-01 55 days 2,076 sqft
2021-01-01 68 days 2,083 sqft
2021-02-01 76 days 2,048 sqft
2021-03-01 46 days 1,995 sqft
2021-04-01 42 days 2,058 sqft
2021-05-01 32 days 2,056 sqft
2021-06-01 32 days 2,084 sqft
2021-07-01 35 days 2,007 sqft
2021-08-01 35 days 2,004 sqft
2021-09-01 39 days 1,997 sqft
2021-10-01 39 days 1,991 sqft
2021-11-01 43 days 1,992 sqft
2021-12-01 47 days 1,983 sqft
2022-01-01 49 days 2,000 sqft
2022-02-01 36 days 2,003 sqft
2022-03-01 28 days 1,988 sqft
2022-04-01 25 days 2,030 sqft
2022-05-01 26 days 2,071 sqft
2022-06-01 29 days 2,114 sqft
2022-07-01 32 days 2,143 sqft
2022-08-01 37 days 2,102 sqft
2022-09-01 41 days 2,121 sqft
2022-10-01 43 days 2,150 sqft
2022-11-01 48 days 2,164 sqft
2022-12-01 59 days 2,176 sqft
2023-01-01 67 days 2,193 sqft
2023-02-01 55 days 2,219 sqft
2023-03-01 46 days 2,222 sqft
2023-04-01 40 days 2,222 sqft
2023-05-01 37 days 2,248 sqft
2023-06-01 37 days 2,235 sqft
2023-07-01 36 days 2,227 sqft
2023-08-01 40 days 2,225 sqft
2023-09-01 42 days 2,200 sqft
2023-10-01 41 days 2,215 sqft
2023-11-01 45 days 2,201 sqft
2023-12-01 54 days 2,169 sqft
Knoxville's median listing age (time on market) for 2023-12-01 was 54 days. This is -8% shorter than the same period one year ago.

Knoxville's median square footage for active listings during the 2023-12-01 period was 2,169 sqft. One year prior, the average listing was 2,176 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).