Lawrenceburg FHA Loan Rates, Closing Costs & Stats
Lawrenceburg, 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.
Lawrenceburg's 44 lenders originated 149 FHA loans during 2023. The total origination value was $32,285,000, with an average FHA loan value of $216,678.
Lawrenceburg FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Lawrenceburg
averaged
5.84%
for the week of 2024-10-11, compared to the national average (all FHA variants) of
6.1% for the same period.
Lawrenceburg's average FHA mortgage closing costs are $7,106.
The average rate for the prior week (2024-10-04) was
5.56% and
one month ago for the week of 2024-09-06, the
average rate was 5.89%.
The average rate one year ago was 7.22%.
For refis of the same type during the week of 2024-10-11, the average rate
was 5.9%.
Lawrenceburg 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 Lawrenceburg level.
The top Lawrenceburg FHA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with
48 FHA loans originated. Their average total fees are
$10,834, which is $500
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Lawrenceburg FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC ($10,334), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($10,834), .
The lowest rate Lawrenceburg FHA lenders (with over 10 loans originated) are
FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.33%), QUICKEN LOANS, LLC (6.43%), .
Lawrenceburg FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
LAWRENCEBURG, TN | LAWRENCE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
LAWRENCEBURG, TN | LAWRENCE | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Lawrenceburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $169,900 (21.4%) | $221,637 (10.2%) | 0.00 | 108 |
2018-02-01 | $165,475 (15.2%) | $213,378 (7.0%) | 0.00 | 116 |
2018-03-01 | $168,500 (16.3%) | $219,198 (10.0%) | 0.00 | 114 |
2018-04-01 | $174,900 (17.4%) | $238,578 (18.0%) | 0.00 | 107 |
2018-05-01 | $177,675 (10.0%) | $238,035 (11.5%) | 0.00 | 113 |
2018-06-01 | $179,900 (20.0%) | $239,190 (13.6%) | 0.00 | 113 |
2018-07-01 | $184,900 (15.6%) | $236,504 (18.1%) | 0.00 | 117 |
2018-08-01 | $170,425 (-1.1%) | $222,943 (4.7%) | 0.00 | 123 |
2018-09-01 | $186,000 (3.6%) | $229,494 (9.1%) | 0.00 | 127 |
2018-10-01 | $172,825 (-3.9%) | $242,658 (5.0%) | 0.00 | 139 |
2018-11-01 | $167,875 (-6.7%) | $245,114 (6.7%) | 0.00 | 139 |
2018-12-01 | $184,900 (5.7%) | $254,582 (12.8%) | 0.00 | 128 |
2019-01-01 | $195,700 (15.2%) | $259,477 (17.1%) | 0.00 | 109 |
2019-02-01 | $185,975 (12.4%) | $255,726 (19.9%) | 0.00 | 103 |
2019-03-01 | $188,243 (11.7%) | $260,135 (18.7%) | 0.00 | 103 |
2019-04-01 | $193,450 (10.6%) | $254,924 (6.9%) | 0.00 | 104 |
2019-05-01 | $233,750 (31.6%) | $294,801 (23.9%) | 0.00 | 100 |
2019-06-01 | $235,000 (30.6%) | $294,066 (22.9%) | 0.00 | 114 |
2019-07-01 | $231,225 (25.1%) | $284,766 (20.4%) | 0.00 | 123 |
2019-08-01 | $230,359 (35.2%) | $285,097 (27.9%) | 0.00 | 125 |
2019-09-01 | $224,223 (20.6%) | $281,348 (22.6%) | 0.00 | 130 |
2019-10-01 | $218,725 (26.6%) | $277,850 (14.5%) | 0.00 | 138 |
2019-11-01 | $215,000 (28.1%) | $265,003 (8.1%) | 0.00 | 142 |
2019-12-01 | $217,450 (17.6%) | $267,354 (5.0%) | 0.00 | 134 |
2020-01-01 | $219,450 (12.1%) | $269,590 (3.9%) | 0.00 | 125 |
2020-02-01 | $222,450 (19.6%) | $277,073 (8.4%) | 0.00 | 119 |
2020-03-01 | $234,925 (24.8%) | $284,975 (9.6%) | 0.00 | 113 |
2020-04-01 | $225,161 (16.4%) | $279,046 (9.5%) | 0.00 | 106 |
2020-05-01 | $216,000 (-7.6%) | $289,979 (-1.6%) | 0.00 | 104 |
2020-06-01 | $222,175 (-5.5%) | $304,627 (3.6%) | 0.00 | 93 |
2020-07-01 | $232,350 (0.5%) | $302,352 (6.2%) | 0.00 | 90 |
2020-08-01 | $235,000 (2.0%) | $328,189 (15.1%) | 0.00 | 71 |
2020-09-01 | $237,450 (5.9%) | $315,472 (12.1%) | 0.00 | 69 |
2020-10-01 | $230,950 (5.6%) | $316,379 (13.9%) | 0.00 | 71 |
2020-11-01 | $236,000 (9.8%) | $318,444 (20.2%) | 0.00 | 77 |
2020-12-01 | $230,850 (6.2%) | $312,985 (17.1%) | 0.00 | 72 |
2021-01-01 | $239,900 (9.3%) | $331,577 (23.0%) | 0.00 | 65 |
2021-02-01 | $244,900 (10.1%) | $340,176 (22.8%) | 0.00 | 51 |
2021-03-01 | $249,225 (6.1%) | $356,459 (25.1%) | 0.00 | 47 |
2021-04-01 | $254,500 (13.0%) | $365,316 (30.9%) | 0.00 | 48 |
2021-05-01 | $294,000 (36.1%) | $400,070 (38.0%) | 0.00 | 43 |
2021-06-01 | $263,700 (18.7%) | $389,944 (28.0%) | 0.00 | 47 |
2021-07-01 | $299,000 (28.7%) | $389,214 (28.7%) | 0.00 | 70 |
2021-08-01 | $294,675 (25.4%) | $390,947 (19.1%) | 0.00 | 89 |
2021-09-01 | $270,850 (14.1%) | $332,644 (5.4%) | 0.00 | 94 |
2021-10-01 | $269,000 (16.5%) | $331,738 (4.9%) | 0.00 | 98 |
2021-11-01 | $279,475 (18.4%) | $356,375 (11.9%) | 0.00 | 95 |
2021-12-01 | $280,000 (21.3%) | $368,874 (17.9%) | 0.00 | 89 |
2022-01-01 | $274,900 (14.6%) | $341,931 (3.1%) | 0.00 | 75 |
2022-02-01 | $279,900 (14.3%) | $347,708 (2.2%) | 0.00 | 52 |
2022-03-01 | $327,000 (31.2%) | $476,903 (33.8%) | 0.00 | 54 |
2022-04-01 | $307,000 (20.6%) | $479,753 (31.3%) | 0.00 | 70 |
2022-05-01 | $339,950 (15.6%) | $467,348 (16.8%) | 0.00 | 83 |
2022-06-01 | $345,975 (31.2%) | $460,902 (18.2%) | 0.00 | 95 |
2022-07-01 | $342,450 (14.5%) | $428,391 (10.1%) | 0.00 | 112 |
2022-08-01 | $324,450 (10.1%) | $435,295 (11.3%) | 0.00 | 115 |
2022-09-01 | $320,950 (18.5%) | $412,567 (24.0%) | 0.00 | 126 |
2022-10-01 | $327,450 (21.7%) | $402,908 (21.5%) | 0.00 | 139 |
2022-11-01 | $345,817 (23.7%) | $415,511 (16.6%) | 0.00 | 144 |
2022-12-01 | $335,000 (19.6%) | $410,606 (11.3%) | 0.00 | 141 |
2023-01-01 | $331,225 (20.5%) | $401,024 (17.3%) | 0.00 | 137 |
2023-02-01 | $339,700 (21.4%) | $407,713 (17.3%) | 0.00 | 122 |
2023-03-01 | $349,800 (7.0%) | $413,403 (-13.3%) | 0.00 | 104 |
2023-04-01 | $341,250 (11.2%) | $411,087 (-14.3%) | 0.00 | 92 |
2023-05-01 | $337,500 (-0.7%) | $431,574 (-7.7%) | 0.00 | 84 |
2023-06-01 | $349,950 (1.2%) | $438,517 (-4.9%) | 0.00 | 85 |
2023-07-01 | $342,450 (0.0%) | $438,619 (2.4%) | 0.00 | 103 |
2023-08-01 | $372,375 (14.8%) | $458,816 (5.4%) | 0.00 | 121 |
2023-09-01 | $361,000 (12.5%) | $439,932 (6.6%) | 0.00 | 116 |
2023-10-01 | $350,000 (6.9%) | $413,118 (2.5%) | 0.00 | 118 |
2023-11-01 | $348,000 (0.6%) | $399,001 (-4.0%) | 0.00 | 128 |
2023-12-01 | $349,450 (4.3%) | $409,646 (-0.2%) | 0.00 | 127 |
2024-01-01 | $347,000 (4.8%) | $401,462 (0.1%) | 0.00 | 125 |
2024-02-01 | $359,000 (5.7%) | $397,012 (-2.6%) | 0.00 | 120 |
2024-03-01 | $359,999 (2.9%) | $397,008 (-4.0%) | 0.00 | 128 |
2024-04-01 | $354,450 (3.9%) | $388,408 (-5.5%) | 0.00 | 131 |
2024-05-01 | $349,000 (3.4%) | $395,182 (-8.4%) | 0.00 | 145 |
2024-06-01 | $347,000 (-0.8%) | $379,231 (-13.5%) | 0.00 | 154 |
2024-07-01 | $339,900 (-0.7%) | $390,292 (-11.0%) | 0.00 | 164 |
2024-08-01 | $339,000 (-9.0%) | $385,589 (-16.0%) | 0.00 | 176 |
2024-09-01 | $339,675 (-5.9%) | $387,199 (-12.0%) | 0.00 | 182 |
Lawrenceburg's median listing price comes in at 0% of the national average.
Lawrenceburg's average listing price for 2024-09-01 was $387,199, a difference of $-52,733 (-12.0%) versus the prior year and $1,610 versus the prior month.
For the 2024-09-01 period, Lawrenceburg had 182 MLS listings, a difference of 6 listings (3%) versus the prior month and 66 listings (57%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Lawrenceburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,904 sqft |
2018-02-01 | 0 days | 1,817 sqft |
2018-03-01 | 0 days | 1,828 sqft |
2018-04-01 | 0 days | 1,841 sqft |
2018-05-01 | 0 days | 1,837 sqft |
2018-06-01 | 0 days | 1,850 sqft |
2018-07-01 | 0 days | 1,882 sqft |
2018-08-01 | 0 days | 1,803 sqft |
2018-09-01 | 0 days | 1,812 sqft |
2018-10-01 | 0 days | 1,792 sqft |
2018-11-01 | 0 days | 1,795 sqft |
2018-12-01 | 0 days | 1,824 sqft |
2019-01-01 | 0 days | 1,873 sqft |
2019-02-01 | 0 days | 1,835 sqft |
2019-03-01 | 0 days | 1,902 sqft |
2019-04-01 | 0 days | 1,917 sqft |
2019-05-01 | 0 days | 2,044 sqft |
2019-06-01 | 0 days | 2,139 sqft |
2019-07-01 | 0 days | 1,944 sqft |
2019-08-01 | 0 days | 1,926 sqft |
2019-09-01 | 0 days | 1,932 sqft |
2019-10-01 | 0 days | 1,929 sqft |
2019-11-01 | 0 days | 1,836 sqft |
2019-12-01 | 0 days | 1,855 sqft |
2020-01-01 | 0 days | 1,887 sqft |
2020-02-01 | 0 days | 1,913 sqft |
2020-03-01 | 0 days | 1,938 sqft |
2020-04-01 | 0 days | 1,874 sqft |
2020-05-01 | 0 days | 1,825 sqft |
2020-06-01 | 0 days | 1,770 sqft |
2020-07-01 | 0 days | 1,743 sqft |
2020-08-01 | 0 days | 1,770 sqft |
2020-09-01 | 0 days | 1,809 sqft |
2020-10-01 | 0 days | 1,731 sqft |
2020-11-01 | 0 days | 1,659 sqft |
2020-12-01 | 0 days | 1,629 sqft |
2021-01-01 | 0 days | 1,750 sqft |
2021-02-01 | 0 days | 1,691 sqft |
2021-03-01 | 0 days | 1,796 sqft |
2021-04-01 | 0 days | 1,749 sqft |
2021-05-01 | 0 days | 1,942 sqft |
2021-06-01 | 0 days | 1,822 sqft |
2021-07-01 | 0 days | 1,880 sqft |
2021-08-01 | 0 days | 1,867 sqft |
2021-09-01 | 0 days | 1,760 sqft |
2021-10-01 | 0 days | 1,776 sqft |
2021-11-01 | 0 days | 1,932 sqft |
2021-12-01 | 0 days | 1,921 sqft |
2022-01-01 | 0 days | 1,861 sqft |
2022-02-01 | 0 days | 1,888 sqft |
2022-03-01 | 0 days | 1,965 sqft |
2022-04-01 | 0 days | 1,904 sqft |
2022-05-01 | 0 days | 1,961 sqft |
2022-06-01 | 0 days | 1,933 sqft |
2022-07-01 | 0 days | 1,784 sqft |
2022-08-01 | 0 days | 1,817 sqft |
2022-09-01 | 0 days | 1,800 sqft |
2022-10-01 | 0 days | 1,838 sqft |
2022-11-01 | 0 days | 1,897 sqft |
2022-12-01 | 0 days | 1,891 sqft |
2023-01-01 | 0 days | 1,859 sqft |
2023-02-01 | 0 days | 1,837 sqft |
2023-03-01 | 0 days | 1,833 sqft |
2023-04-01 | 0 days | 1,726 sqft |
2023-05-01 | 0 days | 1,833 sqft |
2023-06-01 | 0 days | 1,743 sqft |
2023-07-01 | 0 days | 1,682 sqft |
2023-08-01 | 0 days | 1,716 sqft |
2023-09-01 | 0 days | 1,633 sqft |
2023-10-01 | 0 days | 1,723 sqft |
2023-11-01 | 0 days | 1,725 sqft |
2023-12-01 | 0 days | 1,718 sqft |
2024-01-01 | 0 days | 1,668 sqft |
2024-02-01 | 0 days | 1,697 sqft |
2024-03-01 | 0 days | 1,672 sqft |
2024-04-01 | 0 days | 1,714 sqft |
2024-05-01 | 0 days | 1,714 sqft |
2024-06-01 | 0 days | 1,727 sqft |
2024-07-01 | 0 days | 1,727 sqft |
2024-08-01 | 0 days | 1,701 sqft |
2024-09-01 | 0 days | 1,702 sqft |
Lawrenceburg's median square footage for active listings during the 2024-09-01 period was 1,702 sqft. One year prior, the average listing was 1,633 sqft.