Lewisburg FHA Loan Rates, Closing Costs & Stats

Lewisburg, 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.

    Lewisburg's 65 lenders originated 234 FHA loans during 2023. The total origination value was $64,780,000, with an average FHA loan value of $276,838.

    Lewisburg FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Lewisburg averaged -0.55% for the week of 2024-11-15, compared to the national average (all FHA variants) of 0% for the same period.

    Lewisburg's average FHA mortgage closing costs are $8,053.

    The average rate for the prior week (2024-11-08) was 6.25% and one month ago for the week of 2024-10-11, the average rate was 5.96%.

    The average rate one year ago was 6.9%.

    For refis of the same type during the week of 2024-11-15, the average rate was -0.1%.

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

    Lewisburg 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 Lewisburg level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 29 5.29% $7,393
    QUICKEN LOANS, LLC 25 6.13% $13,139
    UNITED WHOLESALE MORTGAGE, LLC 15 6.16% $12,723
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 10 6.28% $13,640
    SeaTrust Mortgage Company 10 6.40% $13,655
    FIRST COMMUNITY MORTGAGE, INC. 10 6.11% $10,435
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 6 6.27% $12,762
    MORTGAGE INVESTORS GROUP, INC. 6 6.88% $10,511
    SWBC MORTGAGE CORPORATION 6 6.25% $8,025
    CMG MORTGAGE, INC. 6 6.75% $11,995
    LOANDEPOT.COM, LLC 5 6.77% $10,372
    PENNYMAC LOAN SERVICES, LLC 5 5.97% $12,778
    FirstBank 4 6.09% $10,621
    FREEDOM MORTGAGE CORPORATION 4 6.72% $13,559
    NEWREZ LLC 3 6.92% $6,778
    Flagstar Bank, FSB 3 7.04% $9,783
    AMERICAN PACIFIC MORTGAGE CORPORATION 3 6.63% $9,753
    KELLEY MORTGAGE, LLC 3 6.08% $6,380
    BROKER SOLUTIONS, INC. 3 6.41% $10,606
    CHURCHILL MORTGAGE CORPORATION 3 6.33% $10,907
    CROSSCOUNTRY MORTGAGE, LLC 3 6.38% $14,910
    Mr. Cooper ( Nationstar Mortgage ) 2 6.75% $14,666
    CapStar Bank 2 5.50% $10,447
    Ameris Bank 2 5.56% $10,736
    PLANET HOME LENDING, LLC 2 4.31% $3,997
    Bank of England 2 6.50% $10,887
    INTERLINC MORTGAGE SERVICES, LLC 2 6.13% $9,011
    T2 FINANCIAL LLC 2 6.69% $9,562
    AMERISAVE MORTGAGE CORPORATION 2 6.13% $11,570
    GUARANTY HOME MORTGAGE CORPORATION 2 6.63% $9,789
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.38% $10,867
    Synovus Bank 1 5.75% $9,920
    The Federal Savings Bank 1 6.50% $18,257
    THE MORTGAGE FIRM, INC. 1 5.75% $7,146
    Truist 1 6.75% $9,189
    Legends Bank 1 6.38% $8,720
    AMCAP MORTGAGE, LTD. 1 6.75% $13,700
    AMERICAN FINANCIAL NETWORK, INC. 1 7.13% $12,837
    AmRes Corporation 1 6.25% $11,608
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.13% $10,138
    ASCEND FEDERAL CREDIT UNION 1 6.63% $6,217
    CALCON MUTUAL MORTGAGE LLC 1 7.50% $9,291
    CANOPY MORTGAGE, LLC 1 6.75% $15,304
    Century Mortgage Company DBA Century Lending Company 1 5.75% $17,700
    Citizens Bank 1 6.88% $13,986
    COMMUNITY MORTGAGE CORPORATION 1 6.25% $8,285
    DAS Acquisition Company, LLC 1 6.63% $15,534
    EVANSVILLE TEACHERS 1 6.25% $7,929
    Fifth Third Bank 1 6.63% $6,328
    FIRST COLONY MORTGAGE CORPORATION 1 5.88% $9,577
    First Federal Bank 1 5.50% $17,815
    FirstTrust Home Loans, Inc. 1 6.38% $11,023
    FLAT BRANCH MORTGAGE, INC. 1 5.25% $14,903
    GUILD MORTGAGE COMPANY 1 6.63% $6,136
    HOMESIDE FINANCIAL, LLC 1 6.63% $7,369
    Legacy Home Loans, LLC 1 6.13% $10,584
    ACOPIA, LLC 1 5.50% $10,294
    Magnolia Bank 1 6.75% $11,333
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $33,835
    Nations Lending Corporation 1 5.75% $17,657
    NEW DAY FINANCIAL, LLC 1 7.50% $3,711
    NexBank 1 6.63% $11,144
    PLAZA HOME MORTGAGE, INC. 1 6.75% $20,168
    REDSTONE Federal Credit Union 1 6.25% $8,676
    S1L, Inc. 1 6.25% $17,155

    The top Lewisburg FHA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 29 FHA loans originated. Their average total fees are $7,393, which is $5,746 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Lewisburg FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($7,393), FIRST COMMUNITY MORTGAGE, INC. ($10,435), UNITED WHOLESALE MORTGAGE, LLC ($12,723), QUICKEN LOANS, LLC ($13,139) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($13,640).

    The lowest rate Lewisburg FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.29%), FIRST COMMUNITY MORTGAGE, INC. (6.11%), QUICKEN LOANS, LLC (6.13%), UNITED WHOLESALE MORTGAGE, LLC (6.16%) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.28%).

    Lewisburg FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    LEWISBURG, TN MARSHALL 2022 $420,680 $538,650 $651,050 $809,150
    LEWISBURG, TN MARSHALL 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Lewisburg (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 $229,900 (35.6%) $278,311 (43.7%) 0.00 110
    2018-02-01 $242,045 (41.4%) $283,786 (44.0%) 0.00 108
    2018-03-01 $259,900 (42.6%) $313,517 (48.8%) 0.00 98
    2018-04-01 $259,925 (38.3%) $311,386 (41.7%) 0.00 102
    2018-05-01 $267,161 (33.7%) $311,491 (25.3%) 0.00 98
    2018-06-01 $259,500 (29.8%) $297,990 (17.6%) 0.00 102
    2018-07-01 $249,900 (1.2%) $300,168 (12.2%) 0.00 106
    2018-08-01 $243,650 (4.7%) $283,210 (10.4%) 0.00 115
    2018-09-01 $248,500 (4.6%) $285,858 (7.8%) 0.00 129
    2018-10-01 $248,900 (6.4%) $284,446 (-0.5%) 0.00 134
    2018-11-01 $239,900 (2.9%) $273,654 (-3.7%) 0.00 147
    2018-12-01 $239,900 (2.1%) $265,783 (-7.7%) 0.00 148
    2019-01-01 $228,225 (-0.7%) $263,280 (-5.4%) 0.00 144
    2019-02-01 $234,900 (-3.0%) $269,999 (-4.9%) 0.00 146
    2019-03-01 $238,357 (-8.3%) $271,631 (-13.4%) 0.00 124
    2019-04-01 $248,457 (-4.4%) $277,990 (-10.7%) 0.00 116
    2019-05-01 $259,900 (-2.7%) $292,731 (-6.0%) 0.00 116
    2019-06-01 $249,900 (-3.7%) $326,246 (9.5%) 0.00 120
    2019-07-01 $268,950 (7.6%) $355,859 (18.6%) 0.00 98
    2019-08-01 $266,927 (9.6%) $348,115 (22.9%) 0.00 104
    2019-09-01 $262,468 (5.6%) $341,316 (19.4%) 0.00 112
    2019-10-01 $262,445 (5.4%) $339,795 (19.5%) 0.00 120
    2019-11-01 $274,900 (14.6%) $332,845 (21.6%) 0.00 121
    2019-12-01 $269,675 (12.4%) $322,485 (21.3%) 0.00 130
    2020-01-01 $272,400 (19.4%) $327,657 (24.5%) 0.00 127
    2020-02-01 $267,450 (13.9%) $339,804 (25.9%) 0.00 111
    2020-03-01 $272,400 (14.3%) $343,240 (26.4%) 0.00 111
    2020-04-01 $279,400 (12.5%) $356,865 (28.4%) 0.00 102
    2020-05-01 $285,900 (10.0%) $358,583 (22.5%) 0.00 108
    2020-06-01 $288,782 (15.6%) $362,549 (11.1%) 0.00 99
    2020-07-01 $284,170 (5.7%) $380,137 (6.8%) 0.00 97
    2020-08-01 $294,900 (10.5%) $424,419 (21.9%) 0.00 77
    2020-09-01 $282,217 (7.5%) $380,209 (11.4%) 0.00 76
    2020-10-01 $276,440 (5.3%) $390,404 (14.9%) 0.00 64
    2020-11-01 $262,450 (-4.5%) $401,412 (20.6%) 0.00 79
    2020-12-01 $263,700 (-2.2%) $391,943 (21.5%) 0.00 76
    2021-01-01 $239,900 (-11.9%) $383,927 (17.2%) 0.00 74
    2021-02-01 $217,100 (-18.8%) $395,986 (16.5%) 0.00 59
    2021-03-01 $231,800 (-14.9%) $416,303 (21.3%) 0.00 47
    2021-04-01 $317,425 (13.6%) $521,948 (46.3%) 0.00 31
    2021-05-01 $250,000 (-12.6%) $426,560 (19.0%) 0.00 39
    2021-06-01 $273,200 (-5.4%) $389,881 (7.5%) 0.00 50
    2021-07-01 $280,999 (-1.1%) $379,909 (-0.1%) 0.00 61
    2021-08-01 $273,550 (-7.2%) $378,326 (-10.9%) 0.00 63
    2021-09-01 $342,138 (21.2%) $420,352 (10.6%) 0.00 40
    2021-10-01 $349,900 (26.6%) $403,876 (3.5%) 0.00 49
    2021-11-01 $312,450 (19.1%) $373,431 (-7.0%) 0.00 54
    2021-12-01 $244,900 (-7.1%) $415,935 (6.1%) 0.00 57
    2022-01-01 $254,900 (6.3%) $451,806 (17.7%) 0.00 49
    2022-02-01 $379,950 (75.0%) $512,104 (29.3%) 0.00 38
    2022-03-01 $399,900 (72.5%) $517,148 (24.2%) 0.00 36
    2022-04-01 $397,450 (25.2%) $479,520 (-8.1%) 0.00 54
    2022-05-01 $361,630 (44.7%) $456,864 (7.1%) 0.00 67
    2022-06-01 $325,000 (19.0%) $463,253 (18.8%) 0.00 120
    2022-07-01 $329,950 (17.4%) $518,492 (36.5%) 0.00 118
    2022-08-01 $353,450 (29.2%) $529,366 (39.9%) 0.00 131
    2022-09-01 $349,900 (2.3%) $534,152 (27.1%) 0.00 134
    2022-10-01 $349,900 (0.0%) $558,398 (38.3%) 0.00 139
    2022-11-01 $336,374 (7.7%) $532,700 (42.7%) 0.00 147
    2022-12-01 $331,950 (35.6%) $496,952 (19.5%) 0.00 130
    2023-01-01 $333,750 (30.9%) $484,831 (7.3%) 0.00 118
    2023-02-01 $335,427 (-11.7%) $476,235 (-7.0%) 0.00 94
    2023-03-01 $336,955 (-15.7%) $509,307 (-1.5%) 0.00 96
    2023-04-01 $344,325 (-13.4%) $504,470 (5.2%) 0.00 105
    2023-05-01 $350,745 (-3.0%) $491,280 (7.5%) 0.00 113
    2023-06-01 $399,000 (22.8%) $546,832 (18.0%) 0.00 120
    2023-07-01 $375,000 (13.7%) $579,367 (11.7%) 0.00 122
    2023-08-01 $399,950 (13.2%) $637,662 (20.5%) 0.00 110
    2023-09-01 $384,900 (10.0%) $558,817 (4.6%) 0.00 114
    2023-10-01 $377,975 (8.0%) $541,130 (-3.1%) 0.00 128
    2023-11-01 $375,425 (11.6%) $576,117 (8.2%) 0.00 142
    2023-12-01 $369,900 (11.4%) $507,143 (2.1%) 0.00 132
    2024-01-01 $367,000 (10.0%) $507,439 (4.7%) 0.00 119
    2024-02-01 $353,350 (5.3%) $510,895 (7.3%) 0.00 112
    2024-03-01 $351,700 (4.4%) $512,046 (0.5%) 0.00 116
    2024-04-01 $382,450 (11.1%) $586,975 (16.4%) 0.00 122
    2024-05-01 $397,975 (13.5%) $606,520 (23.5%) 0.00 123
    2024-06-01 $395,000 (-1.0%) $581,139 (6.3%) 0.00 134
    2024-07-01 $395,750 (5.5%) $565,109 (-2.5%) 0.00 138
    2024-08-01 $399,900 (0.0%) $549,287 (-13.9%) 0.00 138
    2024-09-01 $388,225 (0.9%) $530,199 (-5.1%) 0.00 157
    2024-10-01 $385,000 (1.9%) $543,691 (0.5%) 0.00 159
    Lewisburg's median listing price for 2024-10-01 was $385,000, a difference of $7,025 (1.9%) versus the prior year and $-3,225 versus the prior month.

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

    Lewisburg's average listing price for 2024-10-01 was $543,691, a difference of $2,561 (0.5%) versus the prior year and $13,492 versus the prior month.

    For the 2024-10-01 period, Lewisburg had 159 MLS listings, a difference of 2 listings (1%) versus the prior month and 31 listings (24%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Lewisburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,917 sqft
    2018-02-01 0 days 1,919 sqft
    2018-03-01 0 days 2,013 sqft
    2018-04-01 0 days 2,015 sqft
    2018-05-01 0 days 2,028 sqft
    2018-06-01 0 days 1,900 sqft
    2018-07-01 0 days 1,935 sqft
    2018-08-01 0 days 1,842 sqft
    2018-09-01 0 days 1,839 sqft
    2018-10-01 0 days 1,837 sqft
    2018-11-01 0 days 1,782 sqft
    2018-12-01 0 days 1,800 sqft
    2019-01-01 0 days 1,800 sqft
    2019-02-01 0 days 1,812 sqft
    2019-03-01 0 days 1,783 sqft
    2019-04-01 0 days 1,766 sqft
    2019-05-01 0 days 1,780 sqft
    2019-06-01 0 days 1,761 sqft
    2019-07-01 0 days 1,846 sqft
    2019-08-01 0 days 1,881 sqft
    2019-09-01 0 days 1,896 sqft
    2019-10-01 0 days 1,909 sqft
    2019-11-01 0 days 1,909 sqft
    2019-12-01 0 days 1,899 sqft
    2020-01-01 0 days 1,901 sqft
    2020-02-01 0 days 1,898 sqft
    2020-03-01 0 days 1,911 sqft
    2020-04-01 0 days 1,900 sqft
    2020-05-01 0 days 1,872 sqft
    2020-06-01 0 days 1,851 sqft
    2020-07-01 0 days 1,808 sqft
    2020-08-01 0 days 1,893 sqft
    2020-09-01 0 days 1,818 sqft
    2020-10-01 0 days 1,600 sqft
    2020-11-01 0 days 1,660 sqft
    2020-12-01 0 days 1,733 sqft
    2021-01-01 0 days 1,640 sqft
    2021-02-01 0 days 1,453 sqft
    2021-03-01 0 days 1,609 sqft
    2021-04-01 0 days 2,001 sqft
    2021-05-01 0 days 1,499 sqft
    2021-06-01 0 days 1,445 sqft
    2021-07-01 0 days 1,620 sqft
    2021-08-01 0 days 1,628 sqft
    2021-09-01 0 days 2,000 sqft
    2021-10-01 0 days 1,875 sqft
    2021-11-01 0 days 1,576 sqft
    2021-12-01 0 days 1,478 sqft
    2022-01-01 0 days 1,428 sqft
    2022-02-01 0 days 1,956 sqft
    2022-03-01 0 days 2,042 sqft
    2022-04-01 0 days 1,946 sqft
    2022-05-01 0 days 1,866 sqft
    2022-06-01 0 days 1,636 sqft
    2022-07-01 0 days 1,636 sqft
    2022-08-01 0 days 1,629 sqft
    2022-09-01 0 days 1,673 sqft
    2022-10-01 0 days 1,663 sqft
    2022-11-01 0 days 1,635 sqft
    2022-12-01 0 days 1,696 sqft
    2023-01-01 0 days 1,716 sqft
    2023-02-01 0 days 1,745 sqft
    2023-03-01 0 days 1,740 sqft
    2023-04-01 0 days 1,732 sqft
    2023-05-01 0 days 1,720 sqft
    2023-06-01 0 days 1,799 sqft
    2023-07-01 0 days 1,800 sqft
    2023-08-01 0 days 1,836 sqft
    2023-09-01 0 days 1,800 sqft
    2023-10-01 0 days 1,706 sqft
    2023-11-01 0 days 1,712 sqft
    2023-12-01 0 days 1,621 sqft
    2024-01-01 0 days 1,700 sqft
    2024-02-01 0 days 1,609 sqft
    2024-03-01 0 days 1,560 sqft
    2024-04-01 0 days 1,684 sqft
    2024-05-01 0 days 1,738 sqft
    2024-06-01 0 days 1,718 sqft
    2024-07-01 0 days 1,669 sqft
    2024-08-01 0 days 1,635 sqft
    2024-09-01 0 days 1,619 sqft
    2024-10-01 0 days 1,607 sqft
    Lewisburg's median listing age (time on market) for 2024-10-01 was 0 days.

    Lewisburg's median square footage for active listings during the 2024-10-01 period was 1,607 sqft. One year prior, the average listing was 1,706 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).