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 77 lenders originated 413 FHA loans during 2021. The total origination value was $104,865,000, with an average FHA loan value of $253,910.

    Sevierville FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Sevierville averaged 6.19% for the week of 2023-01-27, compared to the national average (all FHA variants) of 6.186% for the same period.

    Sevierville's average FHA mortgage closing costs are $7,176.

    The average rate for the prior week (2023-01-20) was 6.46% and one month ago for the week of 2022-12-23, the average rate was 6.35%.

    The average rate one year ago was 4.14%.

    For refis of the same type during the week of 2023-01-27, the average rate was 5.87%.

    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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 41 3.25% $9,635
    QUICKEN LOANS, LLC 35 2.61% $6,280
    MORTGAGE INVESTORS GROUP, INC. 30 2.99% $7,991
    PENNYMAC LOAN SERVICES, LLC 14 3.00% $4,459
    FREEDOM MORTGAGE CORPORATION 12 2.79% $4,309
    LAKEVIEW LOAN SERVICING, LLC 12 2.93% $4,300
    HOME POINT FINANCIAL CORPORATION 8 2.98% $7,846
    CALIBER HOME LOANS, INC. 8 3.01% $7,120
    Gateway First Bank 8 3.45% $6,575
    CMG MORTGAGE, INC. 8 3.00% $9,313
    FIRST COMMUNITY MORTGAGE, INC. 8 2.81% $10,031
    Carrington Mortgage Services, LLC 7 3.61% $8,228
    Mr. Cooper ( Nationstar Mortgage ) 7 3.59% $5,551
    ISERVE RESIDENTIAL LENDING, LLC 7 3.27% $9,784
    MOVEMENT MORTGAGE, LLC 6 3.15% $8,205
    T2 FINANCIAL LLC 6 3.46% $8,293
    SOUTHWEST FUNDING, LP 5 3.63% $7,545
    Hometown Lenders, Inc. 5 3.43% $9,343
    DHI MORTGAGE COMPANY, LTD. 5 2.80% $6,422
    PRIMARY RESIDENTIAL MORTGAGE, INC. 4 3.50% $10,248
    Wolfe Financial, Inc 4 3.22% $7,815
    HOMEBRIDGE FINANCIAL SERVICES, INC. 4 2.44% $5,489
    AMERICAN FINANCING CORPORATION 3 3.17% $6,768
    GUILD MORTGAGE COMPANY 3 3.13% $11,202
    BAY EQUITY LLC 3 2.96% $10,191
    Nations Lending Corporation 3 3.63% $12,423
    Citizens Bank 3 2.58% $8,630
    SUCCESS MORTGAGE PARTNERS, INC. 3 3.75% $10,758
    STOCKTON MORTGAGE CORPORATION 3 3.00% $7,003
    Bank of England 3 3.13% $7,872
    AmeriHome Mortgage Company, LLC 2 2.88% $3,500
    PLANET HOME LENDING, LLC 2 2.69% $3,884
    AMERISAVE MORTGAGE CORPORATION 2 2.56% $9,257
    Paramount Residential Mortgage Group, Inc. 2 3.06% $10,201
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 3.00% $8,489
    LOANDEPOT.COM, LLC 2 3.69% $9,859
    TJC Mortgage, Inc. 2 2.69% $8,608
    Northpointe Bank 2 3.25% $6,037
    AMERICAN FINANCIAL RESOURCES, INC. 2 3.56% $7,895
    UNITED WHOLESALE MORTGAGE, LLC 2 2.65% $7,636
    VANDERBILT MORTGAGE AND FINANCE, INC. 2 3.06% $8,282
    CROSSCOUNTRY MORTGAGE, LLC 2 3.13% $7,473
    HOMESIDE FINANCIAL, LLC 1 2.63% $8,622
    ACADEMY MORTGAGE CORPORATION 1 3.50% $5,417
    Alcova Mortgage LLC 1 3.25% $9,266
    AMCAP MORTGAGE, LTD. 1 3.13% $9,915
    AMERICAN FINANCIAL NETWORK, INC. 1 4.50% $5,609
    A Mortgage Boutique, LLC 1 2.63% $6,913
    AmRes Corporation 1 2.88% $6,746
    ANGEL OAK HOME LOANS LLC 1 3.13% $12,959
    Assurance Financial Group, L.L.C. 1 3.00% $8,116
    Austin Capital Bank SSB 1 3.25% $9,670
    Barrington Bank & Trust Company, N.A. 1 3.38% $10,264
    CIS Financial Services, Inc. 1 2.88% $11,730
    EMBRACE HOME LOANS, INC. 1 3.50% $7,076
    ENDEAVOR CAPITAL, LLC. 1 3.00% $7,037
    First Federal Bank 1 2.88% $12,729
    First Guaranty Mortgage Corporation 1 4.25% $4,945
    GREAT WESTERN FINANCIAL SERVICES, INC. 1 3.75% $6,696
    GUARANTEED RATE, INC. 1 2.75% $7,954
    1ST SIGNATURE LENDING, LLC 1 3.13% $8,864
    JAMES B. NUTTER & COMPANY 1 2.75% $2,642
    MID AMERICA MORTGAGE, INC. 1 3.25% $992
    Mortgage Research Center, LLC 1 3.25% $5,800
    M&T Bank 1 2.75% $6,330
    NATIONWIDE MORTGAGE BANKERS, INC. 1 3.25% $14,824
    NEWREZ LLC 1 2.75% $5,346
    RELIANCE FIRST CAPITAL, LLC 1 2.50% $9,806
    ROSS MORTGAGE CORPORATION 1 4.63% $9,402
    Sierra Pacific Mortgage Company, Inc. 1 3.13% $5,741
    SmartBank 1 2.38% $6,501
    STEARNS LENDING, LLC 1 2.75% $7,333
    Strong Home Mortgage, LLC 1 2.38% $6,767
    Truist 1 2.63% $8,092
    Trustmark National Bank 1 3.38% $8,734
    U.S. Bank 1 3.25% $6,703
    VILLAGE CAPITAL MORTGAGE 1 2.75% $4,121

    The top Sevierville FHA lender as defined by loan originations is CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP, with 41 FHA loans originated. Their average total fees are $9,635, which is $3,355 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Sevierville FHA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($4,300), FREEDOM MORTGAGE CORPORATION ($4,309), PENNYMAC LOAN SERVICES, LLC ($4,459), QUICKEN LOANS, LLC ($6,280) and MORTGAGE INVESTORS GROUP, INC. ($7,991).

    The lowest rate Sevierville FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.61%), FREEDOM MORTGAGE CORPORATION (2.79%), LAKEVIEW LOAN SERVICING, LLC (2.93%), MORTGAGE INVESTORS GROUP, INC. (2.99%) and PENNYMAC LOAN SERVICES, LLC (3.00%).

    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

    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 (12.8%) 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%) $411,235 (18.6%) 0.00 704
    2019-04-01 $299,900 (15.3%) $427,072 (20.8%) 0.00 692
    2019-05-01 $304,950 (17.3%) $429,850 (21.7%) 0.00 697
    2019-06-01 $324,900 (22.7%) $438,912 (23.1%) 0.00 709
    2019-07-01 $315,675 (19.2%) $435,268 (19.1%) 0.00 697
    2019-08-01 $321,873 (21.5%) $437,985 (19.5%) 0.00 688
    2019-09-01 $331,507 (25.1%) $448,401 (21.7%) 0.00 702
    2019-10-01 $341,350 (26.5%) $455,311 (21.9%) 0.00 714
    2019-11-01 $345,000 (25.5%) $465,897 (24.1%) 0.00 715
    2019-12-01 $362,450 (31.9%) $492,668 (28.5%) 0.00 671
    2020-01-01 $364,950 (32.7%) $500,605 (29.9%) 0.00 627
    2020-02-01 $369,900 (33.5%) $506,454 (27.4%) 0.00 576
    2020-03-01 $367,592 (27.4%) $507,247 (23.4%) 0.00 581
    2020-04-01 $354,950 (18.4%) $495,729 (16.1%) 0.00 714
    2020-05-01 $370,000 (21.3%) $504,013 (17.3%) 0.00 691
    2020-06-01 $399,900 (23.1%) $518,561 (18.2%) 0.00 642
    2020-07-01 $422,025 (33.7%) $554,276 (27.3%) 0.00 586
    2020-08-01 $440,000 (36.7%) $570,233 (30.2%) 0.00 503
    2020-09-01 $454,725 (37.2%) $593,821 (32.4%) 0.00 400
    2020-10-01 $469,900 (37.7%) $626,071 (37.5%) 0.00 333
    2020-11-01 $440,000 (27.5%) $599,215 (28.6%) 0.00 322
    2020-12-01 $479,950 (32.4%) $640,449 (30.0%) 0.00 328
    2021-01-01 $490,000 (34.3%) $653,071 (30.5%) 0.00 308
    2021-02-01 $649,950 (75.7%) $687,433 (35.7%) 0.00 381
    2021-03-01 $650,000 (76.8%) $706,929 (39.4%) 0.00 407
    2021-04-01 $650,000 (83.1%) $718,185 (44.9%) 0.00 458
    2021-05-01 $650,000 (75.7%) $713,761 (41.6%) 0.00 479
    2021-06-01 $589,675 (47.5%) $727,062 (40.2%) 0.00 442
    2021-07-01 $595,000 (41.0%) $730,494 (31.8%) 0.00 470
    2021-08-01 $592,400 (34.6%) $731,816 (28.3%) 0.00 463
    2021-09-01 $538,750 (18.5%) $705,163 (18.8%) 0.00 434
    2021-10-01 $569,900 (21.3%) $775,389 (23.9%) 0.00 406
    2021-11-01 $599,913 (36.3%) $819,772 (36.8%) 0.00 375
    2021-12-01 $662,006 (37.9%) $808,886 (26.3%) 0.00 369
    2022-01-01 $699,000 (42.7%) $802,524 (22.9%) 0.00 329
    2022-02-01 $729,900 (12.3%) $877,732 (27.7%) 0.00 337
    2022-03-01 $749,500 (15.3%) $952,442 (34.7%) 0.00 381
    2022-04-01 $750,000 (15.4%) $995,038 (38.6%) 0.00 484
    2022-05-01 $779,000 (19.9%) $965,645 (35.3%) 0.00 695
    2022-06-01 $759,050 (28.7%) $944,164 (29.9%) 0.00 902
    2022-07-01 $749,900 (26.0%) $925,573 (26.7%) 0.00 1,022
    2022-08-01 $741,900 (25.2%) $916,261 (25.2%) 0.00 1,002
    2022-09-01 $724,475 (34.5%) $905,549 (28.4%) 0.00 974
    2022-10-01 $744,450 (30.6%) $919,895 (18.6%) 0.00 951
    2022-11-01 $730,875 (21.8%) $906,795 (10.6%) 0.00 890
    2022-12-01 $724,900 (9.5%) $899,069 (11.2%) 0.00 782
    Sevierville's median listing price for 2022-12-01 was $724,900, a difference of $62,894 (9.5%) versus the prior year and $-5,975 versus the prior month.

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

    Sevierville's average listing price for 2022-12-01 was $899,069, a difference of $90,183 (11.2%) versus the prior year and $-7,726 versus the prior month.

    For the 2022-12-01 period, Sevierville had 782 MLS listings, a difference of -108 listings (-12%) versus the prior month and 413 listings (112%) 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 2,084 sqft
    2019-06-01 0 days 2,078 sqft
    2019-07-01 0 days 2,088 sqft
    2019-08-01 0 days 2,109 sqft
    2019-09-01 0 days 2,119 sqft
    2019-10-01 0 days 2,125 sqft
    2019-11-01 0 days 2,080 sqft
    2019-12-01 0 days 2,142 sqft
    2020-01-01 0 days 2,151 sqft
    2020-02-01 0 days 2,080 sqft
    2020-03-01 0 days 2,092 sqft
    2020-04-01 0 days 1,999 sqft
    2020-05-01 0 days 2,016 sqft
    2020-06-01 0 days 2,154 sqft
    2020-07-01 0 days 2,269 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 2,297 sqft
    2021-01-01 0 days 2,250 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 2,222 sqft
    2021-06-01 0 days 2,110 sqft
    2021-07-01 0 days 2,100 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 2,058 sqft
    2022-03-01 0 days 2,071 sqft
    2022-04-01 0 days 2,084 sqft
    2022-05-01 0 days 2,069 sqft
    2022-06-01 0 days 2,034 sqft
    2022-07-01 0 days 2,020 sqft
    2022-08-01 0 days 2,008 sqft
    2022-09-01 0 days 2,018 sqft
    2022-10-01 0 days 2,080 sqft
    2022-11-01 0 days 2,051 sqft
    2022-12-01 0 days 2,057 sqft
    Sevierville's median listing age (time on market) for 2022-12-01 was 0 days.

    Sevierville's median square footage for active listings during the 2022-12-01 period was 2,057 sqft. One year prior, the average listing was 2,304 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).