Lawrenceburg FHA Loan Rates, Closing Costs & Stats

Lawrenceburg, TN

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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.

    Lawrenceburg's 55 lenders originated 231 FHA loans during 2024. The total origination value was $53,635,000, with an average FHA loan value of $232,186.

    Lawrenceburg FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Lawrenceburg averaged 6.47% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Lawrenceburg's average FHA mortgage closing costs are $7,869.

    The average rate for the prior week (2025-03-28) was 6.57% and one month ago for the week of 2025-02-28, the average rate was 6.35%.

    The average rate one year ago was 6.87%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.38%.

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

    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.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 54 6.37% $11,805
    QUICKEN LOANS, LLC 22 6.35% $11,196
    FIRST COMMUNITY MORTGAGE, INC. 16 6.60% $9,062
    FirstBank 9 6.21% $10,085
    UNITED WHOLESALE MORTGAGE, LLC 7 5.96% $10,660
    BROKER SOLUTIONS, INC. 7 7.09% $13,076
    KELLEY MORTGAGE, LLC 6 6.90% $4,576
    PENNYMAC LOAN SERVICES, LLC 5 6.08% $11,912
    Renasant Bank 5 5.85% $9,404
    CMG MORTGAGE, INC. 5 6.42% $12,004
    VILLAGE CAPITAL MORTGAGE 4 6.22% $12,936
    CROSSCOUNTRY MORTGAGE, LLC 4 6.75% $7,365
    MORTGAGE INVESTORS GROUP, INC. 4 6.31% $8,628
    LOANDEPOT.COM, LLC 4 5.65% $11,724
    FREEDOM MORTGAGE CORPORATION 3 5.96% $17,607
    AMERICAN FINANCIAL RESOURCES, INC. 3 6.67% $11,017
    Mortgage Research Center, LLC 2 6.44% $3,923
    CARDINAL FINANCIAL 2 6.50% $18,826
    CHURCHILL MORTGAGE CORPORATION 2 6.13% $10,399
    Consumer First Mortgage, Inc. 2 6.69% $8,987
    LADERA LENDING, INC. 2 6.69% $8,867
    LAKEVIEW LOAN SERVICING, LLC 2 6.19% $10,187
    MOVEMENT MORTGAGE, LLC 2 6.69% $10,352
    SeaTrust Mortgage Company 2 6.63% $6,805
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 5.88% $13,437
    JMAC LENDING, INC. 1 6.88% $6,699
    Equity Prime Mortgage LLC 1 6.25% $6,945
    AMERICAN FINANCING CORPORATION 1 6.25% $15,204
    U.S. Bank 1 6.13% $10,297
    Legends Bank 1 6.63% $10,375
    DELMAR FINANCIAL COMPANY 1 6.75% $8,969
    MICHIGAN MUTUAL, INC. 1 5.63% $19,723
    DAS Acquisition Company, LLC 1 6.63% $17,457
    Alcova Mortgage LLC 1 7.13% $2,660
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.25% $9,290
    AMERICAN FINANCIAL NETWORK, INC. 1 6.25% $9,455
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $8,734
    NEWREZ LLC 1 6.75% $12,144
    Century Mortgage Company DBA Century Lending Company 1 6.00% $8,973
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.75% $10,242
    BECKAM FUNDING CORP. 1 7.50% $9,896
    REDSTONE Federal Credit Union 1 5.63% $9,602
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 5.25% $11,103
    ROSS MORTGAGE CORPORATION 1 6.63% $14,518
    ROYAL UNITED MORTGAGE LLC 1 6.63% $7,687
    RUOFF MORTGAGE COMPANY, INC. 1 5.38% $7,785
    Wells Fargo Bank 1 6.38% $9,929
    STOCKTON MORTGAGE CORPORATION 1 7.13% $12,311
    SWBC MORTGAGE CORPORATION 1 7.25% $6,452
    T2 FINANCIAL LLC 1 6.75% $10,785
    UNION HOME MORTGAGE CORP. 1 6.50% $6,427
    Fifth Third Bank 1 6.63% $8,747
    EVERETT FINANCIAL, INC. 1 6.38% $8,503
    GARDNER FINANCIAL SERVICES, LTD. 1 5.88% $19,580
    GSF Mortgage Corporation 1 7.13% $19,460

    The top Lawrenceburg FHA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 54 FHA loans originated. Their average total fees are $11,805, which is $609 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Lawrenceburg FHA lenders (with over 10 loans originated) are FIRST COMMUNITY MORTGAGE, INC. ($9,062), QUICKEN LOANS, LLC ($11,196), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($11,805), .

    The lowest rate Lawrenceburg FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.35%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.37%), FIRST COMMUNITY MORTGAGE, INC. (6.60%), .

    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. Louis
    Date 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 $230,809 (35.4%) $286,150 (28.4%) 0.00 126
    2019-09-01 $224,673 (20.8%) $282,385 (23.1%) 0.00 131
    2019-10-01 $219,450 (27.0%) $278,865 (14.9%) 0.00 139
    2019-11-01 $215,000 (28.1%) $266,098 (8.6%) 0.00 143
    2019-12-01 $219,600 (18.8%) $268,491 (5.5%) 0.00 135
    2020-01-01 $219,450 (12.1%) $269,915 (4.0%) 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 (1.8%) $328,189 (14.7%) 0.00 71
    2020-09-01 $237,450 (5.7%) $315,472 (11.7%) 0.00 69
    2020-10-01 $230,950 (5.2%) $316,379 (13.5%) 0.00 71
    2020-11-01 $236,000 (9.8%) $318,444 (19.7%) 0.00 77
    2020-12-01 $230,850 (5.1%) $312,985 (16.6%) 0.00 72
    2021-01-01 $239,900 (9.3%) $331,577 (22.8%) 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 $335,725 (19.9%) $407,959 (17.3%) 0.00 121
    2023-03-01 $349,475 (6.9%) $413,850 (-13.2%) 0.00 103
    2023-04-01 $340,000 (10.8%) $411,515 (-14.2%) 0.00 91
    2023-05-01 $337,500 (-0.7%) $431,574 (-7.7%) 0.00 84
    2023-06-01 $349,975 (1.2%) $438,975 (-4.8%) 0.00 84
    2023-07-01 $339,900 (-0.7%) $439,519 (2.6%) 0.00 102
    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 (6.9%) $397,012 (-2.7%) 0.00 120
    2024-03-01 $359,999 (3.0%) $397,008 (-4.1%) 0.00 128
    2024-04-01 $354,450 (4.3%) $388,408 (-5.6%) 0.00 131
    2024-05-01 $348,500 (3.3%) $392,861 (-9.0%) 0.00 145
    2024-06-01 $343,950 (-1.7%) $377,641 (-14.0%) 0.00 154
    2024-07-01 $339,900 (0.0%) $390,292 (-11.2%) 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
    2024-10-01 $339,900 (-2.9%) $386,244 (-6.5%) 0.00 175
    2024-11-01 $339,900 (-2.3%) $393,958 (-1.3%) 0.00 177
    2024-12-01 $339,000 (-3.0%) $392,607 (-4.2%) 0.00 167
    2025-01-01 $340,725 (-1.8%) $389,800 (-2.9%) 0.00 155
    2025-02-01 $333,475 (-7.1%) $377,935 (-4.8%) 0.00 164
    2025-03-01 $329,900 (-8.4%) $383,456 (-3.4%) 0.00 182
    Lawrenceburg's median listing price for 2025-03-01 was $329,900, a difference of $-30,099 (-8.4%) versus the prior year and $-3,575 versus the prior month.

    Lawrenceburg's median listing price comes in at 0% of the national average.

    Lawrenceburg's average listing price for 2025-03-01 was $383,456, a difference of $-13,552 (-3.4%) versus the prior year and $5,521 versus the prior month.

    For the 2025-03-01 period, Lawrenceburg had 182 MLS listings, a difference of 18 listings (11%) versus the prior month and 54 listings (42%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Lawrenceburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date 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 1,849 sqft
    2018-07-01 0 days 1,872 sqft
    2018-08-01 0 days 1,795 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 1,943 sqft
    2019-09-01 0 days 1,941 sqft
    2019-10-01 0 days 1,935 sqft
    2019-11-01 0 days 1,848 sqft
    2019-12-01 0 days 1,859 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 1,872 sqft
    2020-05-01 0 days 1,823 sqft
    2020-06-01 0 days 1,768 sqft
    2020-07-01 0 days 1,737 sqft
    2020-08-01 0 days 1,739 sqft
    2020-09-01 0 days 1,800 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 1,845 sqft
    2023-03-01 0 days 1,862 sqft
    2023-04-01 0 days 1,734 sqft
    2023-05-01 0 days 1,833 sqft
    2023-06-01 0 days 1,772 sqft
    2023-07-01 0 days 1,697 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 1,708 sqft
    2024-06-01 0 days 1,721 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
    2024-10-01 0 days 1,697 sqft
    2024-11-01 0 days 1,728 sqft
    2024-12-01 0 days 1,728 sqft
    2025-01-01 0 days 1,733 sqft
    2025-02-01 0 days 1,702 sqft
    2025-03-01 0 days 1,649 sqft
    Lawrenceburg's median listing age (time on market) for 2025-03-01 was 0 days.

    Lawrenceburg's median square footage for active listings during the 2025-03-01 period was 1,649 sqft. One year prior, the average listing was 1,672 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).