Sevierville FHA Loan Rates, Closing Costs & Stats

Sevierville, 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.

Sevierville's 59 lenders originated 225 FHA loans during 2023. The total origination value was $57,505,000, with an average FHA loan value of $255,578.

Sevierville FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Sevierville averaged 6.92% for the week of 2024-05-24, compared to the national average (all FHA variants) of 6.746% for the same period.

Sevierville's average FHA mortgage closing costs are $8,226.

The average rate for the prior week (2024-05-17) was 6.92% and one month ago for the week of 2024-04-19, the average rate was 7.44%.

The average rate one year ago was 6.76%.

For refis of the same type during the week of 2024-05-24, the average rate was 7.14%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
MORTGAGE INVESTORS GROUP, INC. 26 6.49% $10,215
QUICKEN LOANS, LLC 23 6.25% $12,082
UNITED WHOLESALE MORTGAGE, LLC 13 6.28% $14,959
FIRST COMMUNITY MORTGAGE, INC. 10 6.15% $9,720
MOVEMENT MORTGAGE, LLC 8 6.94% $13,396
LOANDEPOT.COM, LLC 8 6.58% $12,325
Mr. Cooper ( Nationstar Mortgage ) 6 6.08% $14,304
CMG MORTGAGE, INC. 6 6.92% $13,463
CROSSCOUNTRY MORTGAGE, LLC 5 6.74% $13,482
PENNYMAC LOAN SERVICES, LLC 5 6.02% $16,932
BROKER SOLUTIONS, INC. 5 6.72% $13,542
CARDINAL FINANCIAL 5 6.93% $11,062
Equity Prime Mortgage LLC 4 6.25% $12,398
NEWREZ LLC 3 5.88% $13,137
AMERICAN FINANCIAL NETWORK, INC. 3 7.00% $12,235
EVERETT FINANCIAL, INC. 3 6.96% $12,949
Bank of England 3 6.71% $12,300
Regions Bank 3 5.54% $11,222
AMERISAVE MORTGAGE CORPORATION 3 6.38% $18,686
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.58% $9,598
STOCKTON MORTGAGE CORPORATION 3 6.46% $9,384
AMERICAN FINANCIAL RESOURCES, INC. 3 6.92% $10,075
ISERVE RESIDENTIAL LENDING, LLC 2 6.50% $18,162
Flagstar Bank, FSB 2 6.40% $12,121
U.S. Bank 2 6.63% $10,830
Carrington Mortgage Services, LLC 2 6.13% $15,882
NATIONWIDE MORTGAGE BANKERS, INC. 2 6.13% $15,265
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 7.25% $9,634
THRIVE MORTGAGE, LLC 1 7.25% $12,350
TOWNE MORTGAGE COMPANY 1 5.75% $9,692
Trustmark National Bank 1 6.50% $10,264
Sierra Pacific Mortgage Company, Inc. 1 7.25% $12,301
AHL FUNDING 1 7.00% $16,722
Alcova Mortgage LLC 1 7.25% $9,823
AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.50% $9,507
Barrington Bank & Trust Company, N.A. 1 5.75% $6,940
COMPASS MORTGAGE, INC. 1 6.13% $12,758
EMM LOANS LLC 1 5.88% $27,155
ENDEAVOR CAPITAL, LLC. 1 6.25% $14,181
FirstBank 1 6.63% $11,906
First Federal Bank 1 5.63% $16,003
FREEDOM MORTGAGE CORPORATION 1 7.25% $15,009
GENEVA FINANCIAL, LLC 1 7.13% $25,881
GUILD MORTGAGE COMPANY 1 6.13% $16,815
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.88% $10,709
INTERLINC MORTGAGE SERVICES, LLC 1 7.13% $11,288
LADERA LENDING, INC. 1 5.75% $18,644
Nations Lending Corporation 1 5.63% $12,073
NFM, INC. 1 6.00% $11,501
North American Savings Bank, F.S.B. 1 6.75% $9,301
Northpointe Bank 1 5.75% $10,481
Plains Commerce Bank 1 6.38% $4,804
PLAZA HOME MORTGAGE, INC. 1 6.50% $9,961
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.75% $7,476
Princeton Mortgage Corporation 1 6.75% $15,984
RANLIFE, INC. 1 6.13% $20,849
RELIANCE FIRST CAPITAL, LLC 1 6.88% $12,757
1ST SIGNATURE LENDING, LLC 1 6.63% $17,843
SmartBank 1 7.00% $8,278

The top Sevierville FHA lender as defined by loan originations is MORTGAGE INVESTORS GROUP, INC., with 26 FHA loans originated. Their average total fees are $10,215, which is $1,867 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Sevierville FHA lenders (with over 10 loans originated) are FIRST COMMUNITY MORTGAGE, INC. ($9,720), MORTGAGE INVESTORS GROUP, INC. ($10,215), QUICKEN LOANS, LLC ($12,082), UNITED WHOLESALE MORTGAGE, LLC ($14,959) and .

The lowest rate Sevierville FHA lenders (with over 10 loans originated) are FIRST COMMUNITY MORTGAGE, INC. (6.15%), QUICKEN LOANS, LLC (6.25%), UNITED WHOLESALE MORTGAGE, LLC (6.28%), MORTGAGE INVESTORS GROUP, INC. (6.49%) and .

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%) $341,150 (12.3%) 0.00 869
2018-02-01 $259,900 (5.0%) $340,126 (9.6%) 0.00 841
2018-03-01 $259,000 (3.6%) $345,937 (7.6%) 0.00 837
2018-04-01 $260,169 (4.1%) $353,688 (10.1%) 0.00 816
2018-05-01 $259,900 (1.9%) $353,681 (8.7%) 0.00 833
2018-06-01 $264,900 (3.9%) $357,073 (9.6%) 0.00 863
2018-07-01 $264,900 (3.9%) $365,810 (12.0%) 0.00 864
2018-08-01 $264,900 (1.9%) $366,851 (12.1%) 0.00 872
2018-09-01 $264,900 (1.9%) $368,831 (11.4%) 0.00 874
2018-10-01 $269,900 (3.9%) $374,051 (12.0%) 0.00 847
2018-11-01 $274,900 (6.2%) $375,550 (12.6%) 0.00 836
2018-12-01 $274,900 (5.8%) $383,867 (14.4%) 0.00 796
2019-01-01 $274,938 (5.8%) $385,655 (13.1%) 0.00 744
2019-02-01 $277,000 (6.6%) $397,787 (17.0%) 0.00 711
2019-03-01 $288,471 (11.4%) $411,231 (18.9%) 0.00 702
2019-04-01 $299,900 (15.3%) $426,505 (20.6%) 0.00 689
2019-05-01 $306,675 (18.0%) $429,694 (21.5%) 0.00 693
2019-06-01 $324,900 (22.7%) $438,688 (22.9%) 0.00 705
2019-07-01 $315,225 (19.0%) $434,671 (18.8%) 0.00 694
2019-08-01 $321,545 (21.4%) $437,605 (19.3%) 0.00 685
2019-09-01 $331,364 (25.1%) $448,412 (21.6%) 0.00 699
2019-10-01 $340,750 (26.3%) $455,620 (21.8%) 0.00 711
2019-11-01 $345,000 (25.5%) $466,257 (24.2%) 0.00 712
2019-12-01 $358,500 (30.4%) $492,863 (28.4%) 0.00 665
2020-01-01 $363,650 (32.3%) $501,027 (29.9%) 0.00 623
2020-02-01 $369,900 (33.5%) $507,270 (27.5%) 0.00 574
2020-03-01 $368,746 (27.8%) $507,913 (23.5%) 0.00 580
2020-04-01 $354,950 (18.4%) $496,226 (16.4%) 0.00 713
2020-05-01 $370,000 (20.7%) $504,554 (17.4%) 0.00 689
2020-06-01 $399,900 (23.1%) $519,150 (18.3%) 0.00 641
2020-07-01 $422,100 (33.9%) $554,973 (27.7%) 0.00 584
2020-08-01 $440,000 (36.8%) $571,248 (30.5%) 0.00 501
2020-09-01 $454,500 (37.2%) $595,227 (32.7%) 0.00 397
2020-10-01 $469,900 (37.9%) $627,881 (37.8%) 0.00 331
2020-11-01 $439,975 (27.5%) $601,400 (29.0%) 0.00 319
2020-12-01 $479,700 (33.8%) $643,380 (30.5%) 0.00 324
2021-01-01 $489,900 (34.7%) $655,255 (30.8%) 0.00 305
2021-02-01 $650,000 (75.7%) $689,586 (35.9%) 0.00 379
2021-03-01 $650,000 (76.3%) $707,437 (39.3%) 0.00 403
2021-04-01 $650,000 (83.1%) $717,195 (44.5%) 0.00 451
2021-05-01 $650,000 (75.7%) $712,609 (41.2%) 0.00 474
2021-06-01 $588,425 (47.1%) $725,379 (39.7%) 0.00 436
2021-07-01 $594,000 (40.7%) $729,494 (31.5%) 0.00 466
2021-08-01 $584,725 (32.9%) $734,006 (28.5%) 0.00 452
2021-09-01 $540,750 (19.0%) $710,159 (19.3%) 0.00 427
2021-10-01 $564,000 (20.0%) $781,375 (24.5%) 0.00 399
2021-11-01 $599,900 (36.4%) $828,115 (37.7%) 0.00 369
2021-12-01 $661,975 (38.0%) $816,238 (26.9%) 0.00 364
2022-01-01 $698,500 (42.6%) $809,366 (23.5%) 0.00 323
2022-02-01 $729,900 (12.3%) $891,367 (29.3%) 0.00 328
2022-03-01 $745,988 (14.8%) $961,374 (35.9%) 0.00 367
2022-04-01 $765,000 (17.7%) $1,001,604 (39.7%) 0.00 481
2022-05-01 $781,250 (20.2%) $970,753 (36.2%) 0.00 692
2022-06-01 $760,830 (29.3%) $945,673 (30.4%) 0.00 899
2022-07-01 $749,900 (26.3%) $926,731 (27.0%) 0.00 1,018
2022-08-01 $744,425 (27.3%) $917,538 (25.0%) 0.00 998
2022-09-01 $724,500 (34.0%) $906,635 (27.7%) 0.00 971
2022-10-01 $744,450 (32.0%) $919,732 (17.7%) 0.00 951
2022-11-01 $731,750 (22.0%) $907,244 (9.6%) 0.00 889
2022-12-01 $725,000 (9.5%) $901,910 (10.5%) 0.00 781
2023-01-01 $749,900 (7.4%) $915,260 (13.1%) 0.00 680
2023-02-01 $749,450 (2.7%) $919,428 (3.2%) 0.00 677
2023-03-01 $749,452 (0.5%) $932,953 (-3.0%) 0.00 692
2023-04-01 $749,950 (-2.0%) $943,794 (-5.8%) 0.00 765
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 (-1.9%) $914,534 (-0.3%) 0.00 1,121
2023-09-01 $732,450 (1.1%) $928,965 (2.5%) 0.00 1,155
2023-10-01 $749,000 (0.6%) $930,845 (1.2%) 0.00 1,144
2023-11-01 $724,950 (-0.9%) $918,068 (1.2%) 0.00 1,163
2023-12-01 $735,900 (1.5%) $926,109 (2.7%) 0.00 1,154
2024-01-01 $734,950 (-2.0%) $916,425 (0.1%) 0.00 1,049
2024-02-01 $719,575 (-4.0%) $883,139 (-4.0%) 0.00 1,097
2024-03-01 $699,977 (-6.6%) $869,051 (-6.9%) 0.00 1,210
2024-04-01 $699,900 (-6.7%) $882,803 (-6.5%) 0.00 1,388
Sevierville's median listing price for 2024-04-01 was $699,900, a difference of $-50,050 (-6.7%) versus the prior year and $-77 versus the prior month.

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

Sevierville's average listing price for 2024-04-01 was $882,803, a difference of $-60,991 (-6.5%) versus the prior year and $13,752 versus the prior month.

For the 2024-04-01 period, Sevierville had 1,388 MLS listings, a difference of 178 listings (15%) versus the prior month and 623 listings (81%) 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 1,854 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 1,907 sqft
2018-08-01 0 days 1,937 sqft
2018-09-01 0 days 1,932 sqft
2018-10-01 0 days 2,003 sqft
2018-11-01 0 days 1,960 sqft
2018-12-01 0 days 1,972 sqft
2019-01-01 0 days 1,968 sqft
2019-02-01 0 days 2,022 sqft
2019-03-01 0 days 2,077 sqft
2019-04-01 0 days 2,096 sqft
2019-05-01 0 days 2,089 sqft
2019-06-01 0 days 2,076 sqft
2019-07-01 0 days 2,086 sqft
2019-08-01 0 days 2,107 sqft
2019-09-01 0 days 2,118 sqft
2019-10-01 0 days 2,126 sqft
2019-11-01 0 days 2,084 sqft
2019-12-01 0 days 2,140 sqft
2020-01-01 0 days 2,151 sqft
2020-02-01 0 days 2,091 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 2,168 sqft
2020-12-01 0 days 2,295 sqft
2021-01-01 0 days 2,241 sqft
2021-02-01 0 days 2,385 sqft
2021-03-01 0 days 2,427 sqft
2021-04-01 0 days 2,332 sqft
2021-05-01 0 days 2,210 sqft
2021-06-01 0 days 2,106 sqft
2021-07-01 0 days 2,092 sqft
2021-08-01 0 days 2,094 sqft
2021-09-01 0 days 2,038 sqft
2021-10-01 0 days 2,088 sqft
2021-11-01 0 days 2,275 sqft
2021-12-01 0 days 2,299 sqft
2022-01-01 0 days 2,058 sqft
2022-02-01 0 days 2,058 sqft
2022-03-01 0 days 2,066 sqft
2022-04-01 0 days 2,088 sqft
2022-05-01 0 days 2,069 sqft
2022-06-01 0 days 2,037 sqft
2022-07-01 0 days 2,031 sqft
2022-08-01 0 days 2,011 sqft
2022-09-01 0 days 2,019 sqft
2022-10-01 0 days 2,080 sqft
2022-11-01 0 days 2,049 sqft
2022-12-01 0 days 2,057 sqft
2023-01-01 0 days 2,041 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 2,033 sqft
2023-07-01 0 days 2,042 sqft
2023-08-01 0 days 2,035 sqft
2023-09-01 0 days 2,050 sqft
2023-10-01 0 days 2,049 sqft
2023-11-01 0 days 2,024 sqft
2023-12-01 0 days 2,016 sqft
2024-01-01 0 days 1,969 sqft
2024-02-01 0 days 1,913 sqft
2024-03-01 0 days 1,914 sqft
2024-04-01 0 days 1,925 sqft
Sevierville's median listing age (time on market) for 2024-04-01 was 0 days.

Sevierville's median square footage for active listings during the 2024-04-01 period was 1,925 sqft. One year prior, the average listing was 2,045 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).