Sevierville FHA Loan Rates, Closing Costs & Stats

Sevierville, 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.

    Sevierville's 64 lenders originated 260 FHA loans during 2022. The total origination value was $59,100,000, with an average FHA loan value of $227,308.

    Sevierville FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Sevierville averaged 0.04% for the week of 2023-11-24, compared to the national average (all FHA variants) of 0% for the same period.

    Sevierville's average FHA mortgage closing costs are $7,657.

    The average rate for the prior week (2023-11-17) was 7.13% and one month ago for the week of 2023-10-20, the average rate was 7.14%.

    The average rate one year ago was 6.17%.

    For refis of the same type during the week of 2023-11-24, the average rate was -1.25%.

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

    Sevierville 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 Sevierville level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    MORTGAGE INVESTORS GROUP, INC. 29 4.97% $9,877
    QUICKEN LOANS, LLC 26 4.57% $10,501
    PENNYMAC LOAN SERVICES, LLC 12 4.18% $10,901
    CARDINAL FINANCIAL 8 4.64% $13,503
    LAKEVIEW LOAN SERVICING, LLC 8 4.13% $6,034
    LOANDEPOT.COM, LLC 7 4.91% $9,290
    CALIBER HOME LOANS, INC. 7 4.58% $9,013
    FIRST COMMUNITY MORTGAGE, INC. 6 5.02% $11,076
    CMG MORTGAGE, INC. 6 4.67% $10,950
    AMERICAN FINANCIAL RESOURCES, INC. 6 5.29% $8,428
    FREEDOM MORTGAGE CORPORATION 5 5.90% $11,658
    Mr. Cooper ( Nationstar Mortgage ) 5 4.90% $13,419
    NEWREZ LLC 5 4.86% $12,062
    CROSSCOUNTRY MORTGAGE, LLC 4 5.53% $12,434
    SECURITYNATIONAL MORTGAGE COMPANY 4 4.56% $11,066
    Nations Lending Corporation 4 5.22% $10,481
    Bank of England 4 5.50% $9,926
    UNITED WHOLESALE MORTGAGE, LLC 4 4.75% $11,317
    AMCAP MORTGAGE, LTD. 3 3.33% $7,615
    Citizens Bank 3 3.63% $9,298
    DHI MORTGAGE COMPANY, LTD. 3 4.75% $9,801
    AMERISAVE MORTGAGE CORPORATION 2 5.00% $13,203
    T2 FINANCIAL LLC 2 4.25% $12,900
    BROKER SOLUTIONS, INC. 2 4.31% $12,573
    HOME POINT FINANCIAL CORPORATION 2 4.00% $12,639
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 4.50% $14,577
    MUTUAL OF OMAHA MORTGAGE, INC. 2 4.25% $14,791
    MILEND, INC. 2 4.75% $16,437
    VANDERBILT MORTGAGE AND FINANCE, INC. 2 3.88% $10,808
    Flagstar Bank, FSB 2 4.68% $7,916
    NFM, INC. 2 5.63% $6,924
    GUILD MORTGAGE COMPANY 2 5.81% $11,386
    MOVEMENT MORTGAGE, LLC 1 5.75% $10,830
    M&T Bank 1 3.50% $8,233
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.63% $7,148
    ARC HOME LLC 1 4.99% $10,636
    Northpointe Bank 1 5.25% $15,566
    PLANET HOME LENDING, LLC 1 2.75% $5,916
    PLAZA HOME MORTGAGE, INC. 1 4.88% $11,544
    AmeriHome Mortgage Company, LLC 1 5.13% $8,752
    Amerifirst Financial, Inc. 1 7.13% $8,255
    STEARNS LENDING, LLC 1 4.75% $6,759
    STOCKTON MORTGAGE CORPORATION 1 5.00% $11,951
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.63% $14,820
    SUN WEST MORTGAGE COMPANY, INC. 1 6.38% $10,644
    TOWNE MORTGAGE COMPANY 1 5.25% $11,941
    UNION HOME MORTGAGE CORP. 1 5.38% $8,722
    United Community Bank 1 5.00% $8,178
    UNITED MORTGAGE CORP 1 3.25% $8,072
    AMERICAN MORTGAGE SERVICE COMPANY 1 6.13% $9,414
    VILLAGE CAPITAL MORTGAGE 1 4.63% $11,174
    Waterstone Mortgage Corporation 1 4.25% $11,026
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.88% $14,013
    Wells Fargo Bank 1 5.88% $16,115
    EVERETT FINANCIAL, INC. 1 7.13% $4,498
    First Guaranty Mortgage Corporation 1 4.00% $5,800
    DRAPER AND KRAMER MORTGAGE CORP. 1 4.75% $8,434
    Goldwater Bank, N.A. 1 5.25% $12,607
    GSF Mortgage Corporation 1 6.63% $12,311
    GUARANTEED RATE, INC. 1 3.38% $7,586
    Hometown Lenders, Inc. 1 4.99% $13,520
    Countybank 1 3.25% $6,671
    Carrington Mortgage Services, LLC 1 4.63% $11,967
    CALCON MUTUAL MORTGAGE LLC 1 6.50% $12,265

    The top Sevierville FHA lender as defined by loan originations is MORTGAGE INVESTORS GROUP, INC., with 29 FHA loans originated. Their average total fees are $9,877, which is $624 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Sevierville FHA lenders (with over 10 loans originated) are MORTGAGE INVESTORS GROUP, INC. ($9,877), QUICKEN LOANS, LLC ($10,501), PENNYMAC LOAN SERVICES, LLC ($10,901), .

    The lowest rate Sevierville FHA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (4.18%), QUICKEN LOANS, LLC (4.57%), MORTGAGE INVESTORS GROUP, INC. (4.97%), .

    Sevierville FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Sevierville (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 $259,900 (8.3%) $341,724 (13.0%) 0.00 872
    2018-02-01 $259,900 (5.2%) $340,783 (10.3%) 0.00 844
    2018-03-01 $259,000 (3.6%) $346,630 (8.4%) 0.00 838
    2018-04-01 $260,169 (4.1%) $353,483 (10.5%) 0.00 818
    2018-05-01 $259,900 (2.0%) $353,306 (8.8%) 0.00 836
    2018-06-01 $264,900 (3.9%) $356,687 (9.7%) 0.00 866
    2018-07-01 $264,900 (3.9%) $365,408 (12.1%) 0.00 867
    2018-08-01 $264,900 (1.9%) $366,439 (12.0%) 0.00 875
    2018-09-01 $264,900 (1.9%) $368,417 (11.1%) 0.00 876
    2018-10-01 $269,900 (3.9%) $373,567 (11.7%) 0.00 850
    2018-11-01 $274,900 (6.1%) $375,583 (12.4%) 0.00 839
    2018-12-01 $274,900 (5.8%) $383,549 (14.2%) 0.00 798
    2019-01-01 $274,950 (5.8%) $385,488 (12.8%) 0.00 745
    2019-02-01 $277,000 (6.6%) $397,560 (16.7%) 0.00 713
    2019-03-01 $288,471 (11.4%) $411,216 (18.6%) 0.00 704
    2019-04-01 $299,900 (15.3%) $426,971 (20.8%) 0.00 692
    2019-05-01 $305,825 (17.7%) $430,268 (21.8%) 0.00 696
    2019-06-01 $324,900 (22.7%) $439,348 (23.2%) 0.00 708
    2019-07-01 $316,675 (19.6%) $435,689 (19.2%) 0.00 696
    2019-08-01 $322,200 (21.6%) $438,419 (19.6%) 0.00 687
    2019-09-01 $331,650 (25.2%) $448,839 (21.8%) 0.00 701
    2019-10-01 $341,950 (26.7%) $455,747 (22.0%) 0.00 713
    2019-11-01 $345,000 (25.5%) $466,357 (24.2%) 0.00 714
    2019-12-01 $362,475 (31.9%) $493,192 (28.6%) 0.00 669
    2020-01-01 $365,000 (32.8%) $501,190 (30.0%) 0.00 625
    2020-02-01 $369,950 (33.6%) $507,085 (27.6%) 0.00 575
    2020-03-01 $368,746 (27.8%) $507,913 (23.5%) 0.00 580
    2020-04-01 $354,950 (18.4%) $496,226 (16.2%) 0.00 713
    2020-05-01 $370,000 (21.0%) $504,554 (17.3%) 0.00 689
    2020-06-01 $399,900 (23.1%) $519,150 (18.2%) 0.00 641
    2020-07-01 $422,100 (33.3%) $554,973 (27.4%) 0.00 584
    2020-08-01 $440,000 (36.6%) $571,248 (30.3%) 0.00 501
    2020-09-01 $454,725 (37.1%) $595,175 (32.6%) 0.00 398
    2020-10-01 $469,900 (37.4%) $627,881 (37.8%) 0.00 331
    2020-11-01 $440,000 (27.5%) $600,852 (28.8%) 0.00 320
    2020-12-01 $479,725 (32.4%) $642,511 (30.3%) 0.00 325
    2021-01-01 $489,950 (34.2%) $655,410 (30.8%) 0.00 305
    2021-02-01 $650,000 (75.7%) $689,288 (35.9%) 0.00 379
    2021-03-01 $650,000 (76.3%) $708,768 (39.6%) 0.00 405
    2021-04-01 $650,000 (83.1%) $719,844 (45.1%) 0.00 456
    2021-05-01 $650,000 (75.7%) $714,564 (41.6%) 0.00 478
    2021-06-01 $592,450 (48.2%) $727,890 (40.2%) 0.00 441
    2021-07-01 $595,000 (41.0%) $731,230 (31.8%) 0.00 469
    2021-08-01 $592,450 (34.7%) $734,984 (28.7%) 0.00 462
    2021-09-01 $542,000 (19.2%) $710,654 (19.4%) 0.00 434
    2021-10-01 $569,900 (21.3%) $781,408 (24.5%) 0.00 406
    2021-11-01 $599,937 (36.4%) $826,432 (37.5%) 0.00 375
    2021-12-01 $662,281 (38.1%) $815,572 (26.9%) 0.00 369
    2022-01-01 $699,000 (42.7%) $808,023 (23.3%) 0.00 329
    2022-02-01 $729,900 (12.3%) $889,001 (29.0%) 0.00 336
    2022-03-01 $749,950 (15.4%) $960,341 (35.5%) 0.00 380
    2022-04-01 $763,750 (17.5%) $1,000,697 (39.0%) 0.00 483
    2022-05-01 $781,250 (20.2%) $970,227 (35.8%) 0.00 694
    2022-06-01 $760,830 (28.4%) $945,407 (29.9%) 0.00 901
    2022-07-01 $749,900 (26.0%) $926,606 (26.7%) 0.00 1,021
    2022-08-01 $745,000 (25.8%) $917,549 (24.8%) 0.00 1,003
    2022-09-01 $726,175 (34.0%) $907,131 (27.7%) 0.00 975
    2022-10-01 $749,000 (31.4%) $921,706 (18.0%) 0.00 951
    2022-11-01 $734,675 (22.5%) $908,874 (10.0%) 0.00 890
    2022-12-01 $725,000 (9.5%) $903,737 (10.8%) 0.00 781
    2023-01-01 $749,949 (7.3%) $915,754 (13.3%) 0.00 680
    2023-02-01 $749,450 (2.7%) $919,428 (3.4%) 0.00 677
    2023-03-01 $749,452 (-0.1%) $932,953 (-2.9%) 0.00 692
    2023-04-01 $749,900 (-1.8%) $943,794 (-5.7%) 0.00 766
    2023-05-01 $739,950 (-5.3%) $925,956 (-4.6%) 0.00 870
    2023-06-01 $742,440 (-2.4%) $936,121 (-1.0%) 0.00 988
    2023-07-01 $745,000 (-0.7%) $935,061 (0.9%) 0.00 1,019
    2023-08-01 $730,000 (-2.0%) $914,534 (-0.3%) 0.00 1,121
    2023-09-01 $732,450 (0.9%) $928,965 (2.4%) 0.00 1,155
    2023-10-01 $749,000 (0.0%) $930,845 (1.0%) 0.00 1,144
    Sevierville's median listing price for 2023-10-01 was $749,000, a difference of $0 (0.0%) versus the prior year and $16,550 versus the prior month.

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

    Sevierville's average listing price for 2023-10-01 was $930,845, a difference of $9,139 (1.0%) versus the prior year and $1,880 versus the prior month.

    For the 2023-10-01 period, Sevierville had 1,144 MLS listings, a difference of -11 listings (-1%) versus the prior month and 193 listings (20%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Sevierville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,900 sqft
    2018-02-01 0 days 1,900 sqft
    2018-03-01 0 days 1,860 sqft
    2018-04-01 0 days 1,900 sqft
    2018-05-01 0 days 1,900 sqft
    2018-06-01 0 days 1,900 sqft
    2018-07-01 0 days 1,902 sqft
    2018-08-01 0 days 1,930 sqft
    2018-09-01 0 days 1,924 sqft
    2018-10-01 0 days 1,986 sqft
    2018-11-01 0 days 1,953 sqft
    2018-12-01 0 days 1,971 sqft
    2019-01-01 0 days 1,962 sqft
    2019-02-01 0 days 2,013 sqft
    2019-03-01 0 days 2,077 sqft
    2019-04-01 0 days 2,096 sqft
    2019-05-01 0 days 2,087 sqft
    2019-06-01 0 days 2,080 sqft
    2019-07-01 0 days 2,090 sqft
    2019-08-01 0 days 2,112 sqft
    2019-09-01 0 days 2,120 sqft
    2019-10-01 0 days 2,126 sqft
    2019-11-01 0 days 2,084 sqft
    2019-12-01 0 days 2,144 sqft
    2020-01-01 0 days 2,153 sqft
    2020-02-01 0 days 2,088 sqft
    2020-03-01 0 days 2,094 sqft
    2020-04-01 0 days 2,000 sqft
    2020-05-01 0 days 2,016 sqft
    2020-06-01 0 days 2,158 sqft
    2020-07-01 0 days 2,273 sqft
    2020-08-01 0 days 2,261 sqft
    2020-09-01 0 days 2,186 sqft
    2020-10-01 0 days 2,240 sqft
    2020-11-01 0 days 2,174 sqft
    2020-12-01 0 days 2,295 sqft
    2021-01-01 0 days 2,246 sqft
    2021-02-01 0 days 2,372 sqft
    2021-03-01 0 days 2,427 sqft
    2021-04-01 0 days 2,337 sqft
    2021-05-01 0 days 2,210 sqft
    2021-06-01 0 days 2,109 sqft
    2021-07-01 0 days 2,096 sqft
    2021-08-01 0 days 2,098 sqft
    2021-09-01 0 days 2,038 sqft
    2021-10-01 0 days 2,096 sqft
    2021-11-01 0 days 2,284 sqft
    2021-12-01 0 days 2,304 sqft
    2022-01-01 0 days 2,058 sqft
    2022-02-01 0 days 2,064 sqft
    2022-03-01 0 days 2,073 sqft
    2022-04-01 0 days 2,088 sqft
    2022-05-01 0 days 2,069 sqft
    2022-06-01 0 days 2,032 sqft
    2022-07-01 0 days 2,020 sqft
    2022-08-01 0 days 2,013 sqft
    2022-09-01 0 days 2,019 sqft
    2022-10-01 0 days 2,088 sqft
    2022-11-01 0 days 2,055 sqft
    2022-12-01 0 days 2,068 sqft
    2023-01-01 0 days 2,043 sqft
    2023-02-01 0 days 2,023 sqft
    2023-03-01 0 days 2,016 sqft
    2023-04-01 0 days 2,045 sqft
    2023-05-01 0 days 2,040 sqft
    2023-06-01 0 days 2,034 sqft
    2023-07-01 0 days 2,042 sqft
    2023-08-01 0 days 2,036 sqft
    2023-09-01 0 days 2,050 sqft
    2023-10-01 0 days 2,050 sqft
    Sevierville's median listing age (time on market) for 2023-10-01 was 0 days.

    Sevierville's median square footage for active listings during the 2023-10-01 period was 2,050 sqft. One year prior, the average listing was 2,088 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).